Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-02-03
FRANCE AND TRADE.
OFFICE OF rHE DAILY APPEAL.
MEMPHIS, February 2 ISL.

49, .
MEMPHIS, February 2 ISL. I
THE SEA ISLAND COTTON MARKET,
The following extract from a letter
dated az Savannah, January S1st, has
been received by a prominent cotton
house; "We have to report a strong
and active market for Sea Islands-it
has extended to all grades, from me-
dunn to fine FlOridas. There is a
strong feeling here that the Sea Island
crop will not exceed 1850 bales -
The receipts of Sea Islands and Flor
idas at Savannah were, up to the
above date:
Bsgs.
Season Issg-70 to January lg...-,.... lO,Og5
Season Is10-7I 20 January ls...-.... SSH
RAILROADS.
The Supreme Court OF California
has recently decided that when q rail
way company runs its road through a
field without building a fence to pre-
vent animals from getting on the
track, IL is bound by an implied
promise TO pay the owner Of the land
fer any of his cattle that may be
killed on the road through want of a
proper fence. The court says that it
Is the right of the owner Of the land
10 pasture his cattle and horses i'm his
fields, and that the law does not re-
gard it as negligence on his part if he
pastures them in a field traversed by a
railroad.
COTTON FREIGHTs.
The Savannah Republican saws:
"a commercial firm in Savannah
sent recently an experimental order
for cotton, TO be bought in Selma,
Ala, and sent to Savannah by rail.
The result is the following telegraphic
note: Low middling, I34c; freight to
New York, 60c per 100 pounds; freight
10 Savannah, &c per 100 pounds
This makes the cotton cost l44C, laid
down in Savannah, for a quality sell
ing here at 1f5C. Also, we have Just
learned that our newly opened COM
municatiOn with Nicksburg has to
compete at one cent per pound freight
10 Savannah with seveHty-hve cents
TO a dollar q bale in New Orleans.
Ergo, without lower railway freights
10 Savannah We must lose the valu-
able cotton from these sections"
AMENDMENT To THE BANKRUPT LAW.
A number Of amendments to the
present bankrupt law will soon be
presented to Congress. The proposed
changes in the act provide that the
appointment of registers shall be made
Iv the United States Circuit Courts:
that the time for bankrupts 10 file
their petitions shall be extended from
one to two years; that the reversals
Of DEGREES in bankruptcy should be
HHa#n n-HrH in TTrFHHI EAaHaa -arrrFH
and also that exemptions under State
laws shall not exceed $1,000, so far as
the operation Of the bankrupt law is
concerned. The last two amendments
are designed TO meet attempts of
State courts to impede the jurisdiC-
ton of the laws, and, in the case Of
exemptions, to make it uniform in
operation, as the constitution requires.
When the act was first passed, it pro-
Vided that State exemptions, existing
in 1864, should be recognized. The
object OF this Limitation was to pre-
vent the Southern States, as was then
feared would be the case, from making
excessive exemptions in the interest
OF bankrupt land owners, etc. 1t has
been suggested that 1864 be changed
10 1869, 50 as 10 cover the exemptions
made in the new Southern cOnstitu-
tiOus since the passage Of the act.
T0WAGE on THE MISSISSIPPI.
The rhiD-OWuers of New Orleans
are complaining Of the high rates
charged by the steam tugs engaged in ,
vessels from the mouth Of the
Mississippi to that city. The vessels
been paying heretofore one dol
lar a ton tor up tOWage, and under the {
argument Of the high price of coal, s
the rate Of 81 p a ton is demanded.
The time required for towing up is ,
tWenty-siX hours, and half rates are I
charged for the down trip. A tug, il I
Is stated, always takes up two, and 7
usually takes three vessels. In the a
Ease of a tugs towing up a ship Of S
SOD tons. another Of 1900 tons, and a
brig of 600 tons, making in ali 34OO 0
tons, she would at the old rates re- a
s-ive $500 for her services. Adding y
b. this amount the sum Of Sl7G0 for 4
he down tOWage, ID viii be seen that
he cost to these three vessels Of get Il
ling up 70 New Orleans and back to
.he mouth Of the Mississippi is $500 2
iu expense much greater than in any 81
port in the United States or in Eu- .
Other port charges at New Or
cans, il is stated, are equally exOrbi- s
ant, aud hence il is argued that il is
lot remarkable that the grain trade 2
II the upper Mississippi does not pass .
through New Orleans.