, 1875-06-05
uASE bTOCEP.

Hide L.cJhcr I}ank. .13 .....
Comncrctal Loan Comrahy. 10
MISCELLANEOUS.
ci.y R7i'wa-. Hastli Sac...............m.H 14oK
GiIs hallway, 'WtsE Side..........,......lj Ii Ia
City Enlwhy, North Glr. .ial Ito
Traders 1usurau"o Curntany............u5 leo
tisaEe .ls1 tsss 1 L'Kht i cova 10
tAtr.In 4 Saytltwr.tern goll Eon1s..,.-.. 81
lul'''au t4lacs Car Company. .....,.".. wv MA
D:stfIct NJ cul.,n.bia J.csa leuar4ntesd 49,
~ En!ted atea>.......................1 * 754
ro3ToN DIVIDENDS.
tbs triIcndy ra:ab'o In uos.on IN June aggregate
$i,2iI.T77. Manufacturing conpanies continue tu
make poor tlowiug aud those Which have rut nj
ready settled down TO per cent steadily approach
Lug that figure. AIuoskcag reduces from O 10 rcr
cent; jackson, to ): 1.angdou, to d 6t7rt. to 1
Fer cent, Tho Lowell MEchuo Shop pays per ceut
on denan1 agnlnst por cont III N1vamber last which
is .he usl,al division Of payments. The 1oston vidoa
. yer coat; ltamiltou.,4; 1aneaator, ~; aud Law
rencc, q lelore. The Appleton passes for ths gac-
oud tine.
SEnnT1Aniu t!;sTnrMESTs.
correspondent writas rs ID fo1Iawa.
as S. S. hsvns ie,n IN act y
thu III 1lslture II te lat tesson whtch regulates d.
1.o.ers Of rro.nssoty noto, and ha e1acs moan.
Ing of tho status Ia not clearly MnerooA y Of
;sujrn, lime ia gve clear explanation oi ta etae
tneAug and operation Of tic fur tho bentnt OF
jett7 Very truly, a KEApE1.
TAis whole subject ma3 discussed In our columns
thrce wects aga; bt,t It escaped the notice Of "A
Ncador" aud perhaps Of othera. repuLlsh the al,h-
stance Of It,. The law to which Kesder' REFERS Is
&c., r. 7i0, Satutas Of 1914 negotiable tnstru~
rnena It has eGscei radical change lu tho laws nf
this saIc from what they prior to July l, 1874.
1ts lang,tugets:
Any nose bond, LII, or osher in.ruments In writ
Ing, made p4yat1o to hearer, may Lt tranf, r1ed Ly
npI h1ff,, tHt nl+n.f
thereon in tho naIs Of tho hoIor thereof. Any iu-
do5!sr Of sas insrninsnt neuttnnud in tAts section
mail hc held RuarANtor Of payment unless oLhar
wihe expressed In tbs 3Rdois .Hletlt.
On th's y legal friend made, Nay II, ths following
comment:
g,arantor Is liable without noilco Of
''Lrarrr.'' "a or bearer" aud II indorsea il
sus i sad e xsss nsss ssss y
ay kind; Drfore tlia inv. which took effect July |,
et'rr suH aga,nst .Ls nnktr when such s,st soal
have 1een anayA!ng, or lbs nsakcs out of the etae
and steh ID tho law noa - to notes not running 10
81 that tia insertion Of tho word "bearer now
makes noss ne$o,tae by mere delivery, aud realers
Another correspondent May Is, wrote:
Not ono mole iu ! hundred ss written payable to
bearer. 1us y L. yery common for ne maker ot
ay sblo to bcarer %ll ". r. il. tsll us whetier
With ths ofig,nal guaraulor7
To this ". T. L., atay II, replied:
IL your ',suo 9t tho 10th iust y: Il. ". rropoun's
eUlztaht1ally t4ls FIeAttDu Whether ur HUk q the
intlosseE ~ blank Of note n,ds by 10 btu own ur-
der, and " him ~ tnavrsed Ia blaak and haa W D
u, under ssH Of tho act concerning negotiable In
Essla.snts referred to In my COMMUNICATION Of The
lish inst, l!alle ~ sasEsnloF 10 p.7
n!ui nay ~ sr.isea u " setirg another Fur what
}nspase daes e. the holder q such note inansse
ons 70 .hon on asy a.,at II IT, IT,
tu receive tito uonoy.-sHd tho iuaosscnient can 10
of Kind 70 te person Who recsiyes il from hi';,
9. u conditional. ~ T. tho Ease with Link !norso.
.Ssaas - % h.ssss 'A'' 70
hrt ihs Is nnt meta Payable 10 be,1es bseasr Tia
isg e % !! !, ia ths tes9n nu1asd ia the taorss-
ss ,as.s IL, ss. r. to- " Z. own o
" ssuaee ahs r!ah of action complete Ia suy nne whu
iYs a thu ,R1 ,%s Stina u may y ts1 sols. hesso
eondtea f.s =. IL n.soslsSiiits !: cone.tns '
Jertect 10 II to Iaatu.in ~ acon aesnsl IL make
' - y x a:s ss sl'qt a2s
4uired beeause The .ousss 4ays repeatedly hsI tha
a.s .es sa.oa se 10! .ser y, - usss sssy L
sisted upon by tls oefsndanl+
tpdor4etsus os sAs VI thu sIsr IL hl.us n,.t
Y. hy tta terms, laysata "a heates. Now xhsN G. II
holder, pals btu nau1s in blank under that Of l.
tnAser u, does U al!hor1zs auy holdsr r.auKe Il
fru, oue psyEhla 10 order Ola payabu t, hea
ers II 1s does Aes. lheu he u aAly laus VI m i,
t.orser of nnta payable 10 order. conditional !ah
ty, ttavldcl fos tn o4ser sections Ut tA!x stxtMtp
whtch effect can bs given without xAy clauss Vt Il
tsrms Of tAc nofe 10 thsI LINK fair sonsrurttt
Ut .aa whole sts,uta wSuld Mes shAsgs Aaa.
.a.rses sn.rsf ,n.s 70 .ais; Vio .tata.s reser.
natsa paya6e to bearer tn teEas, " tn desagas.oA
the cointaon law aud theretoFs saoud bs strr,ly
Fsruc', suu. tas supIsosed " VI noo psyal
to uftter It IL not usth'u ts as'tion ot st.,us
fufre Of tho very language uaed IN tbs Itself.
viii not 10 III striving 1t this eoaatrueti
nf thE4 statute, llat psovldes fos twa d!sset r4..
Vt Detrs al.a ludospetasIs, and that dstturtiou
Insas soleiy by sha ii ths word "A.Asrr u in
nosu. 10 .hxs. share noss j. 10 =. VI. tnlor
1net, md thst auy oae following him, IL tond.tic
al. %heu nose Il 10 "bea5st,a sap iaIo1sen1unt
any 9uo y ~ ~ anseuts asarsnty. Aud slsu. ttat
u,ats Auy uols sa4Dgnkbls hy hIdnxssu,eut.
Iuia exp,ssou of Ehia novel a'4tnts ~ not given
81 eatLedfs W kuy na2ux. My trss rots vs. lutSl