, 1869-01-13
FMaNClAL and COMMERCIAL.


merchants, brokers and other factors, Of taking
out open policies Of insurance IN their OWE names
*pd vklslLR tn lteiE cuatones4' nsk. 1t the iu!l
ta1e. and afftrWards receiving d rebate from the
ttnpanY on the rate charged. scems likely to get
slfteo tt IN iuporta ut ttAt case noT before ons
Ut tic Ncw York courts. The case IL that Of the
%i,1 t-uta Central Railroad Company Y. J, P.
Mn,Esn ct nj, In 1858. after somc transactions IN
rea ion tn them, J. F. Mcr3al j. Co. Hrota iu On
pi policy. tsken ont By them In the Atlantic
MLtut1 1n.urancc Com oany. m tnfuyznce on3.QN
''n Of rsiirca 40 iron, on fhcir ~ay IRON Eugtsn1
the premium being about q mo. Subsequently
! c nt'a' 1T Mutual irsurAreo Company dcciazed
eerip dividend Of ~ per cent, which the rhf"sT
.uu'l lany rlat1ntd 81 thers, aud fos auich thaI
hrtusEt suit. 1he INST decision wAs IN fsvof Of
the utfc. dantl, hni from which ihc rAII1Ay com:
any appealed, 1hr "pInion Of The htRhof court
-as shat the defendant. were the mere agcEts pf
lu laini1tls III 1nak TX tho !neurlIcc: that ID
-L&h Her,lr. shrr c"nld msko no p1oht' cu1 Of
then r1,nc1ral's tsaufActtoIg. nxcept their sra.
=, ba.it cat1misstore. That the enrtoal VIA not
shown 10 b. 4 Grltrai custom, ath at any rate
AZ IN dire, oppnsit:on 10 wci'.tno1r p:tn-
! sslIra nl Inr. an1 could nut bu ma!ntalutd' 1ha
iut Rnt ut In therefore rcvssrd, ard a new Rial
olotrta. Tho principles ~hhh sppfy 10 the
sooso case. spp'1 villa "sen xfcsies
torcc where tho return mate BY tho
| '1,uraneo eompauy 10 tho opon
pr m,u1p Instead OF dividend In puEslr IL 7sxal
company. for IN tho i&.lct rrery polio, hold
| ei is Le1 1etsAtally rn~r1hrf nnd representative
| Of ine tonpaLy, aud legal exceptions might be
| tai ou 10 he tcrua l.okef" or "agrnt" ~ ap.
pI,ea to lhe b. ldcr Of IN open roltc4. EYen such
/ +1rrp,iuns. nhut!Irr lheY bo hold valid Of not,
| cana Lot be made whero tho company Ii 4
| ttoek CUE pAry, AID 1hn factor OF agent accepts
| frn1n tho .nsusancc COMPANY rebate on tho
| amour ho has Colet&ed Of hs principal a. tho
otsensiblo charge Of the company for insurance.
ihcyr ~, ho wepos, nuother practitt in thi1 saue
| dir, tt}on nuurE rommlsefon men and Harrnnnss
III sh'e AID other cities, which, though by 10
| mcanr Eentsa1, Ia too common; we plcan tic
prnc'icr Ct the factor to ch1rga tor insurance 1t
The full rats rouAotf iasnrfn9 tAt protsssy " anv
company at al. That this IL frequently done, not
Only hy Individual fsct III, bat t1 soma iustaaces
l., eicta5os4, aEd IN few cases b. banks, Is we'll
kEu~t. THIS IL justified on the gtouad that
/ Ito fac or who makes the .e1change "
reapoIttole fcr tbs loss and IL able to take tho
Isrnr1t:ng II The tubtc il tattaded 10 accept Il,
hut It Ia TO bc presumed that In nins.y-u'ne oa.
oIa hundred OF such cases the principal II made
10 believe that hie property IL injured IN some
orfAi tzed company it Is Il efote-to 1t so It
| wuEse numc-a deception. In the case Of chax-
| tered lank which having loaned money-on
grain receipts. tor instance, a. collatesAl-aod
charged for tntn1auee on the property s. we'll al
iltt rest pu :he money, the act ID illegal, though
!. has been rractIted hire. In ehort, there 10 no
hustncss of equal imFortacce that Is Transacted
70 Ices ~. nra OF which the OWNERS OF th- prop
| ct insurrd know Eo little. and for which they
bs3 ro l,liIaty, It's InsuraIce. yerT couatde.a
| bic PORTION OF the business community who pay
| fr LIS rranea- do Iot know whcth.r they ase
"lnsurrc." ii tie Common understanding cf thai
/ t.Tn. oe not. AAotner ano d larger proportion o
tut hus Ieea men know hserel5 nothing o, TIT
| rest CT nblftty Ct .hc company whose h1ndao nely
pt.n'eu tol;cy 'hss uasy old ~ fane1. security
M evss7 enc. in nj tic the explosion OF some
. III lnsuraLcc G. mtsn5 asyefopea the ta:t thai
-.mc Ct our slrcsussi buslness mem ha4t
/ rc,n tated.
The most dangerous counterfeit Nat4 ii hank
nn'cH 1o~ IN ci'culaslon @1e 30 lutloss: lots
cslt1at hauonat b4nE. New York; 1oas Eits
| Sa'ton.l tank. Boston; 20s, FInt Natio.a a Bin l.
1ndiaI,poliF. indiana F. fourth National Bank
Phi: GcIphfa; oQs, First National uauk, Portland
'tu' cttlcut: los, Third National Bank, philad IL
. ih'a 1ts. f1ss1 National D1nk Pht.aacluh,.; 1Ds
! IcthsLtcs' Nsti-ua Gauk. New York lo.. Va
! | ftut Sattonal Ha2k, New y.rk; l0st First Ma
J | fto1 al Hank, Loskport, y. y; It's, Flour cit,
Sa.1oral Bauk, Rochester, \ \: les, sarssoss
enniy NattoLal R41k, Water:od. N. T.; 10.
] First faioHAl Bank. Re: HOOK, N. T.; l0s
i N,2htasd National Bank, .Sewhu-g, y. T.; 50
' r.o3i.'s National Bank, Michigan; Is, Na,fona
{ En'on Bsnk. k,1dsrhoox, Ser Yorx: -
MARKET National Bank, New Yosk; 100,
"nd 5os. Flrst National Bark txenpias uot.s
Urged s'Huasuvesl. Jefeef City, Il. j.; 1o5s and
. 3D., Natloaa1 Ctr Bank. lxeRulne uote., forged
! in 'taFas}, LYnu. Aksn-; Iy.. Matn4l Na.ipn4.
sss,k, Troy. y. r; los, National Sang, s,atc Q,
Ne~ frk: u. Ma7ioe Has.oaai Baak Of csw
York lffF, Autumn lily .latio1al Bank. Au 3uru
| y. '-Rosfoa .Journol.
Thr Snpscmc Court Of Georgia, 4. is stated, hs,
rendered a decision. confirming lie decision n
. aloncr conrt, thst the consideration OF a pote
! | fts.n ioT borrowed Confederate money WIS .
Eo'd and valid one. On tue othex haud, the SQ
| pEcrue Court OF renncasec has rendered cIract
| ly ennfrar5 decision.
7h' Department o: Agriculture a, Washington
gFts the corn crop at all the States for tho yca
lsas Is a5,11st00 bushels, against 90 /,
, | 1867. -
: 1EeEc Is moietate ac:tyi.y II tae demsua fo1
! | HUfey In this market. The funds Of the bsnx1
: hs'c been getting more readily available lasely
a. they hase been abs to Atcomta ,dAto N IN :
! VIC ctuln 1o1 get loane before. aud money Il
| e1sS cnsafaz~A 10 the condition Of week 1c,
though not plentiful yet The regular custom IA
of:h- hatks. however. experIcaced no dlui .ult ,
! | IN getting accommodations.
: taf1eney continues to do* in from the soantsy
, IN quite acASy r:nitauces, and tho couutr,
hn7 ks = rdfrE IT are yet osLct,aG remittance
o. :unds to New futk 10 make exchange 70,
: | WHICH tAeJ nave ~ 2ct1rd dGntuu.
i Ii hinge was ftu to-day 4: ,3- pc. FOOD pre-.
: | MUM 10. s4cs between ba2ks. B1nkess are sell
lug 70 customers a. the coa.ts nt lilo PIT ua,una
= tr Ne" fork fundt and taking 4: Par
There was considerable decline ro-day IN tn,
ntT ~ tnitc3 s.aies hopd. OF ls55- u and 81
: snd slight ore M tho odss 5-s0s. The 1910.
: ho"eFsF% *ete Up Ac- Tbs lastes fax ruaxes !
4 look a. though the decline Vas dus to SONS n
. rudta1ion 1uuor thst had b. N c!scn.t:d On VA,
. s1T ct. Tn. new 5.sos are the uuss ch.eay deal
" IN !hczc, aut 1t IL probably to afe:t ,hr psce o
shese tnst -on1r runner nsy haze been started. 4
rucos VIA etArted there for that purpa ass day he
:. fnae Jetteraas to the effect that mora 40s Hcr
:, 10 he Issued By tho goveraraeat hui It Ra4 au
X hLsttattr3ly contssd:eted By the Cuiied STATE
IS assis at,s Treasurrr IN NrT Tork The psesen
e aaeiit ir, II alt probability. dus 10 some snc
. strategy al the spectators R1d IL likely 10 prov
9 | temporary.
d pea EN- rs.es fo1 huJingsand sellluz Goveru
. \ Nens Bdnae, Local atoeKs, Gold and Silver Il
: th!- market this aft.spoou Hrcc - fa,Isw4:
4 H..