The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1870-04-26


iosa9leot. Gold, ma. 7g u
Evenfnc. --Money easy at 4sss per cent Gold.
1sa0l1si. There has been some slight decline Ia
southern Securities, the market closing fraction
lower. .,.ss .S.s,sr.
lsea's, lisa ,sps, H. Southern Securities fall
or and closed lower. Tennessee's, ss3: naw. s3.
vfrgfnia's, Oh North CarelinA,s Il /; nsT, 2Sa.
Stocks iucsuated all day. but prlces at the close
we're not up TO the highest OF the day. - y i
LATEST FROM wAsHINaToN.
r. t-a -- -.s y -
Special kilograms TO the Dispstch.
WAsHISGToN, April %, 1870.
Decision I'm che Lou6-COle Case.
TWAS mentioned In these dispatches some
days ago that q case Of patent interference
Was pending before Judge Fisher, Of the
Supreme Court Of this District, in which a
great deal of interest was manifested on ac-
count Of the merits Of the case as well as on
account of the fact that Senator Cole was
the defendant in the case, which has been
bitterly litigated and has engendered bad
personal feelings among the parties.
The case was decided to-day by Judge
Fisher against Senator Cole. From the
decision of the court 1t appears that
the plaintiff Loud) came here from
California and had patented side pad.
dle-wheel for steam vessels; became ac-
quainted with Senator Cole, who became
interested In the patent, and they together
purchaseda steamboat in New York for try
ing experiments with the wheel; that Loud
afterwards made improvements on the first
patent, exhibited them to Cole, placed them
in the secret archives of the Patent Office,
and went to California during his absence
Senator Cole applied for 8 patent for
an improvement on the original wheel,
which improvement was subsequently
proven to be identical with that which
Loud exhibited to the Senator before
he went to California; the plaintiff (Loud)
had his case tried in the Patent Office, in
the mode pointed out by law, by the pri-
mary. examiner, examiner of interferences,
and examiners in chief, these officers seye-
rally deciding that Loud was the prior in
ventor Senator Cole appealed to Commits
sioner Of Patents Fisher, who, in February
last, reversed the decision of the examiners
and awarded the prior idea Of patent to
Cole appeal was taken from this decision
to the Supreme Court Of this District, and
Judge Fisher, of that court, this morning
reversed the decision of the Commissioner
of Patents, affirmed the decisions Of the
examiners, and decided that Loud had pri-
ority Of right in the wheel and improve
ment, and that Senator Cole had no claim
thereto.
National Banks-Ietter Of Treasurer
Spinner.
General Spinner, United States Treasurer,
has written q letter to Mr.. Swazee, of the
Merchants National Bank, Newton, N. j.,
In which he argues that the banks have
made immense profits upon their invest
ments on bonds to be deposited as surety
for circulation. In answer to the charge
that great injustice is about to be done
the banks, General Spinner says: "The
people will, however, be able to take
YOUR own statement of the case, and
after doing a little cyphering will say
to you that their view of the case
is that your bank bought these bonds at
about III in currency at a time when gold
stood at POI, which would be about equal
to 55H in gold; that you have since then
received back again on the nominal amount
for interest 80 per cent. in gold; that you
bought these stocks with your own circu-
lating notes, on which you have not paid
one cent of interest, and that you can now
sell these bonds above par in gold and that
should you so sell them you will receive,
and have received, on the $4,000 Of
United States stocks so purchased, held, and
sold by you, S45, 500 in gold, for which you
paid FIVE years ago, in the then gold prices,
but s1s,425, thereby reaping q clear profit,
less duties and taxes, on this single little
investment of over s27, 000."
Additional Banking Facilities.
The Banking and Currency Committee
had under consideration the bill providing
for additional banking facilities. They have
nearly matured the measure, but no report
will be made until the provisions of the
funding bill concerning the national banks
are promulgated. Upon this measure vii
depend to some extent the action of the
Banking Committee.
The Department of State.
Assistant Secretary Of State Bancroft
Davis was before the House Appropriation!
Committee to-day urging that the Depart
ment Of State be divided into two bureaus
a consular bureau and diplomatic--to b
under the supervision Of the respective as
sistant secretaries, and showed that thi
change would make the Department more
efficient. He asked the committee to allow
more clerks and TO increase the salaries O
others. s--
The same committee agreed to allow til,
same amount that was appropriated las
year for repairs in the different navy-yards
| The New Funding RilE.
The new funding bill prepared by Gene
raj Schenck was to-day discussed by th'
Ways and Means Committee. The mem
bers were particularly charged not to di
vulge the action taken oh the measure, blu
it IS understood they did not wholly com
plete the bill, and concessions have beer
made to the national bank interest and als'
| to Secretary Boutwell,, The bill Will pro
baby be finished tomorrow or Wednesday
but until it is finished and ready to repor
none Of It's PROVISIONS viii be thade public
The Fur.seal BIZ:
The fur-seal bill which was sought to b
| nassed III tie House to-day is substantial.
the measure which is suggested by the Presi
L