The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-10-04
NEW YORK COURT OF ARBITRATION.
IMPORTANT TO MERCHANTS.

The merchants and tradespeople of New
York have for some time past been impatient,
relative to the delay that has always been in
cident to law suits. In the case of suits be-
tween merchants, where but very small
amount is involved, the delay in obtaining a
decision has often cost more than an adverse
decision. such suits are often brought to
establish certain principle OF trade, and when
the decision is delayed, through the usual
machinery of law, the costs and results often
amount to more than the case is worth.
To OBJ viate these circumstances arbitration
has been appealed to- and it is probable that
hereafter most disputes between business men
will be settled ontside of the courts.
Most of the commercial exchanges have
always enjoyed the privilege Of an arbitration
committee, whose decisions would be consid-
cred binding in case the parties to the DISPUTE
made q voluntary a;reement to that effect.
Uch system had a very beneficial effect, but
it WIS universally felt that the scope and prin-
cple of arbitration should be further extend
ed SO that all business men, whether men,
b RS OF exchanges or not, would be able to
take advan age OF it, and SO save themselves
unnecessary expense and delay.
In this matter the Chamber Of c. mmerce
took the Lead and though the institution has
always been clothed with more absolut. power
! than any other commercial body, 1t was
sought to obtain an extension of jurisdiction
that would admit every merchant to en- JOY its
privileges
Application was therefore made at the last
session OF the Legislature for the formation of
{; court of arbitration, and 1.-The necessary act
was passed April "A, 1874, entitled an act to
provide for the arbitration Of mercantile dis
putes in the port of New York. This act
nominally increased the powers of the Cham
Der of Commerce, but actually only with
reference to all commercial interests.
This act provides that any member of the
Chamber OF Commerce may summon any other
member to appear before the tribunal for the
settleu mt OF dispute or difference arising
within the port OF New York, aud ali other
parties may also appear in case OF voluntary
submission. This act also provided that the
Governor should appoint, with the consent of
the Senate, an experienced person as arbitra-
tor. who should have the same rank and pay
as Justice Of the Supreme Court of the State
of New York, and whose decisions should be
equally binding. The Governor was also en-
powered to appoint as arbitration clerk such
person as might be nominated by the Chamber
of Commerce, and whose duties should be to
keep the records, documents and works relat-
ing to all cases Of arbitration. Each party to
an arbitration is empowered to appoint one
person. who shall sit with the arbitrator and
the decision of the court thus constructed, or
of majority, shall Re final.
This law, though felt to be subject to nu-
merous amendments has met with universal
satisfaction, and nothing would prove this
more than the fact that cases were brought
before the court but Jew days after it was
formed. Ex-Justice Fancher, OF the Supreme
Court Of the State of New York, was appointed
| arbitrator, and several actions We're brought
before him Immediately. The court, in all its
details, however. had not been constituted,
but such was the desire OF parties having com
mercial disputes, to submit to arbitration,
that they waived all their rights under the
law, and submitted their cases to Justice Fan
cher for his personal adjudication The de-
cisions have met with universal satisfaction,
and it is anticipated that when the court OF
arbitration is fully constituted. its decisions
will not only be regar led sound law, but
that they will give the merchant an absolute
guarantee by which he can guide all his trans
actions.
Mr.. George Wilson, the present Secretary
of the Chamber of Commerce, has been ap-
pointed the clerk of the Court of Arbitration,
and therefore its records have been preserved
since the time the law creating it was passed.
But the cases heretofore have been adjudi-
Gated by the arbitrator withour the regularly
constituted court, and it remains to be seen
how much the future will exceed the past