Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-06-24
FINANCE AND TRADE.
OFPIOK OF THB DAILY APPEAL,
MEMPHIS, June %, 1870.

49, 49, 111INAL1 ~ ~ AAAAgAAA
aged when they learn, as we do reliably,
that a day or two ago the Memphis Gas
Company declared a dividend of 10 Der
cent. on the business Of the previous six
months, and this besides S50,C COO paid out
and expended in carrying on the several
suits against the Gayoso Gas Company,
begun in our State courts and carried m
and through TIE Supreme Court of the
United States. Twenty or thirty per
cent. per annum beats the National
Banks, and argues that there is room and
a chance for the new company.
In the United States Court in New
York, Judge Blatchford, presiding. a few
days since, a case in bankruptcy was de-
cided, of a nature worthy the attention
or merchants. The firm Of VIM. A. Har-
der & Co., commenced the dry goods
business at PhilmOnt, Columbia eounty,N.
y, JAM ], 1863, under written articles of
agreement to continue three years. In
November, 1859, Horton Harder, one of
the partners, under an agreement with
his firm, published a notice I'm the news
papers al Hudson that he had Withdrawn
from the firm, aud executed a bill of sale
OF his interest in the firm property to put
side parties. The other partners continued
the business as usual, and bought goods
or various houses in New York city, up
TO March or April last, when they failed,
and one of the principals filed a petition
for an adjudication of bankruptcy against
the firm and its members, including Har-
der. To this the latter responded, in a
special answer, that he was not a partner.
Judge B~latchford, in his opinion, said:
I have a clear view of this case, and
have had since the agreement Of with |
drawsl between Horton Harder and Geo.
w. Phillips was read. Even III is were |
conceded that a naked sale by one cOpart- |
ner OF his interest in tine firm can have
the effect of sbsOlyiug him from future
contracts made by the firm, that is Sol |
this case. The deed and bill of sale by !
Harder were given in pursuance of the
agreement or withdrawal, and the trans
action l. a unit. ! have no doubt that 1
under that agreement there was no disso-
luton of the nrm of VIM. A. Harder & |
co. The agreement was, in effect, only q
bet by The parties as 10 the condition OF
the firm at the date of dissolution. HOr-
ton Harder would have the benefit OF the /
profits. Even If Clahin q Co., the petit
Iioning creditors. had notice Of the alleged
sale by Horton Harder, and should have
inquired OF Horton Harder, they could
have learned no more than the contents
OF these papers. ] think the partnership
continued. notwithstanding the execution /
Of these papers. The agreement appears
like an Ingenious scheme on the part of
HARDER 10 get the benefit of the cOpartner- 1
ship profit, and not be a in case of
loss. The construction of the
paper is a matter OF law, and under IL
must direct a verdict that Horton Harder
g. sr1aBraA a. HIHaunI IN he ngrEafnn aud I
Is so indebted jointly with the other four
debtors, As a member of the copartnership
firm of VIM. 4. Harder a Co.
The jury hereupOn returned q verdict in
accordance with the views set forth by the
Court.
OF the sugar trade the New York
Ameriean Grocer has the following inter
esting statistics:
OF the S7,2l2 hhds. foreign sugar in
stock here Isl June, -, 464 were from Gu
la, 364 Porto Rico, 3JS5 the English
islands, PAS 81. CrOiN and $50 Martinique,
or about nine-tenths of the total amount
came from Cuba. All or the 99,62 boxes
on hand nj that date came from the same
island. suppose Cuba belonged TO the
limited Statesl There was q decrease OF
one per cent. in the stock Of sugar in this
country on June lst from that OF May lst,
there being Us, 40 UOus June LIST against
l2IO4g tons Nav Is but the past thirteen
months show an increase Of 50 per cent.
in stocks over the preceding thirteen
months. There has been an average in
crease in consumption OF sugar since Jan
Bary ] e o. per cent. over same period
last wear, whsle the month of May alone
shows an increase Of about p per cent. ,
This fact taken in connection with the {
very large increase in the consumption OF :
coffee IN May is a very significant one.
- H.. .Hsna EnrHr me- awHnHaF .Hn .
following about Collect The coffee statis- 7
tics of the present year, TO date, disclose =
some interesting facts, 10 which We call 1
the attention OF our readers. The coffee !
which has always claimed most attention
in this country is the Rio, from Brazil
During the past five months Of this year, 4
the increase in The consumption Of this e
coffee over that of the same period last
year has averaged As per cent; but dur
ing the month of May The consumption
was more than $50 per cent greater than
for the same month last year. There was
an increase Of stock of all sorts on the lst
ofJEne - per cent. greater than on the LIST
Of Nav this year; but the average OF
stocks for tho past - months, in cOmp8ri-
son with the Is months preyiOHs, shows a
decrease of p per cent. The total stock
OF coffee on the continent OF lLurOpe, and
in Great Britain, on April this year, was
IL. 100 tons, against " ,6lg tons in 1869.
The distribution for consumption abroad
for the same period was 81, 43O tons, against
1853 tons IN 1859, showing that less has
been taken for consumption 50 far this
gear abroad. 1t may be premature to
argue thereirom an actual falling of in
the foreign consumption Of coffee. A.,
The crop news comes to as from nearly !
all gu arters Of the South, telling Of dis
aster and misfortune. The Somerville
Faleon says Of the prospect in Fayette d
county, that the growth Of cotton was Z
somewhat retarded by the cold snap 2
week before last, and the heavy rains 5
which fell during last week, but the D
warm sunshine Of the past few days has q
set it to growing finely again. Weeds are a
getting the better Of the crops in Dyer. Il
A recent very severe hail storm ruined 4
much OF the wheat, damaged the corn,
and beat the cotton 10 pieces so badly
that it will nave TO De piowed up and
corn planted in its stead. The Dyers- -
burg Gsse0e says the prospects are d
q gloomy enough" In Madison county,
the wheat in many GelJs has been cut
and shocked. The yield is good. Corn
and cotton both look worsted from the a
wet, cool weather, bat the injury is not d
serious. The Tipton county Record says a
that cotton has suffered considerably from z
lice and superintendent rain. The wheat =
is also somewhat damaged. Wheat in C
and The adjoining counties has not e
been seriously damaged by the wet =
weather. The yield will surPass in quail j
and quantity any preceding season. b
The Carthage Tidehe has the following
concerning the HEeat harvest in that re- =
gion. Farmers in this section nave been .
harvesting their wheat this week. The
yield is very fine, but much OF Il has been u
Injured by the recent heavy rains. We :
regret to learn that the crop IN Jackson F
county has been very materially dam :
aged by heavy rains sud hail" In Mid ,,
die Tennessss the reports afe that the .
crop hsa Suffered severely, and .
that this yield will be much lighter than d
would otherwise a been. We hear b
some persons say, living in Giles and
Maury- counties, that their cotton has 5,
been very greatly damaged The wheat :
crop, though abundant, viii be consider
ably shortened by the interference with d
harvesting operations by the wet wealth y
er. Complaint is made in East Tennessee !,
farmers have been set back with their
crops materially from the same causes. Il
50 much for our own State Of Tennessee. ri
Prom South Carolina we learn that heavy
rains have damaged the cotton crop in 4
the interior to some extent. but corn and