The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-02-24

Supreme Court, special term, Solomon S.
al. Van Brunt, J.-This is an action to set
aside an award Of arbitrators upon the
grounds:
l. That the arbitrators Improperly refused
an adjournment to the Plaintiffs
z. That they considered improper evidence
3. That the arbitrators were not sworn
!. That the award is void because the arbi-
traitors did not all sit to hear the evidence.
D That the plaintiffs, before the award, re-
voked the authority Of the arbitrators to act
he first three grounds have already been
passed upon by the General Term in favor of
the defendants. | do not think that the proofs
snow that there was any reason for the plain
tlfis being mlsled about the decision Of the
arbitrators as to the adjournment They an
nounced their decision plainly that they would
not adjourn, and if it was not 50 understood
by the plaintiff, do not think the fault lies
with the arbltrators The second ground is
entirely covered by the decision Of the General
Tenn. The case Of Day VS.. Hammond is
cited to show that the third ground is well
taken. Ia that case it was held that the taking
of the oath may be waived by proceeding and
not requiring it, but the objection in that case
was held fatal, because the fact that an umpire
was acting was entirely unknown to defend
70 have waived the oath.
The fourth ground is. that the award is
void, because al the arbitrator did not sit
and hear the evidence. This proposition
would be well taken, did not the charter OF
the New York Exchange authorize mai GRITTY
OF the Arbitration Committee to act which
entirely obviates the necessity for all the com
mittee to sit and hear the case.
This leaves the last ground of objection,
and that is, that the plaintiffs revoked the au
thority of the arbitratOrs. | am unable to
consider their action as a revocation Of au-
thorlty They protested against their plo-
ceeding without granting an adjournment.
There was nothing in this protest which
even implied revocation Of authority. They
did not withdraw their case from the arbi
traitors, but simply protested against the de-
csion Of the arbitrators refusing to grant an
adjournment.
The plaintiffs themselves, when upon the
stand, never for moment pretended that
they had revoked the authority of the arbi-
traitors to act, or even attempted or thought
Of doing so, because, if they had done SO,
they could not have been misled about the
question Of adjournment.
1t seems to me that the General Term has
passed upon the real questions involved IN
this case adversely TO plaintiffs.
The complaint must, therefore, be dis
missed with cost.
The New York .Shippi,,q L's' Of the l9tE
inst: There has been little or nothing done
for several days past. The doubts existing as
regards the duty question, and the general
of transporting goods, has very
quoting influence on the trade, and the mar
ket is nominal state, while there is no
to sell goods except at full figures.
q tln An ~ l. u
part Of purchasers to stock beyond actual re-
quiraments. Until the final settlement Of the
thrift question no business Of Importance is
looked for. The line trade is also very slow.
The statement in our issue Of 18Th nit, Civ
ing the shipment of green from ShangtIae to
America 4 300, 600 lbs. short US compared
with the previous year, we have since armed
by mail, Through Augustine Heard 4 20. 5
circular Of December -, t. have been c0noiG-
erablv under estimated the shipments neigg
only 9 SEQ, $40 lbs. against Is 49, ly3 lbs. t0r
the same time 1873, and i, ;SS2 Gn! Lbs. tor
same time l>72. We have 10 ssIc> Of invoices
to report. Ry auction 200 half chests Ool3ng
sold 1t 25rI 81 cents, cash.
The New York Tri,jac says The loans =
the Associated Clearing House banks Of tbs
city have now increased to 5233. 1913, coo. which
is within 5000, 600 OF the ,naXmum reached
in any week since the panic Of 1873. - com
pared with the cores ponding week q 1871,
the deposits are about the same. while the
specie reserve is reduced from $50, 700, 900 to
SIS, 900 Geo, and the legal tender reserve
from SO. 100000 to S56, coo, COO
The exports from the port Of New York are
smaller than they were last year, the receipts
Of cotton, grain, etc. are smaller, and the |
general trade of the city has not materially |
increased, if it has increased at all. The |
SIS, 600, 900 increase in loans above the |
amount at which they stood at this time last
year is probably to be ascribed partly t. the
demands Of the Stock Exchange and partly to
he augmented quantities of grain and cotton
N our warehouses;