The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-11-24
COMMERCIAL MATTERS. Etc.

Molasses from watermelons is the latest
achievement Of Wilson county, Kansas.
The United States imported 10000, 600 clay
pipes, mostly from Glasgow, last year.
The Adams and the American, which are
the two great express companies of the coun-
try, employ 5000 men, 1900 horses, 1900 wag.
ons. and use 5000 iron safes Their agents
travel more than 100000 miles daily, or
nearly 80, 0C0O 600 miles yearly.
The official report of the directors of the
Chicago Exposition shows that nearly 300, 900
people visited the Exposition during the
month. The income was $12G, 900; the net
profits $4,000. The property aud buildings
are valued at $3.50, 000 The managers are
satisfied with the work, and propose to con-
tinue the exhibition from year to year.
new process for saving marble has recent
ly been patented by one Thomas Ross, of
Rutland, which provides for the use of iron
filings instead Of sand. as has heretofore been
customary. By the old process from two to
three days time was consumed in saving
through block. With the new improve
ment the work may be performed in few
hours.
Mail advices from Europe give melan-
choy account of the depression of trade in
Germany, and it's effect on the industrial
classes Serious distress is anticipated among
the working classes during the winter, and
there are fears of financial crisis. Accounts
of the failure of the Russian crops add to the
discouragment of the outlook on the Cont
nent. 1t is said that never before has failure
been so general in Russia.
In Germany "acorn coffee is used, and
greatly liked, as q substitute for ordinary
coffee, and is considered to be very strength
ening for consumptive people and delicate
children. The acorns are gathered in autumn,
when they are ripe, shelled, and after being
cut into pieces of the size of coffee berries,
they are thoroughly dried. They are then
roasted like ordinary coffee until they become
a cinnamon brown color.
What cotton is to the United States the
wine crop is to France, and it is nearly equal
in money value. In ordinary seasons its
gross value is estimated at 5000, 600, 600, of
which $50 000, 900 worth of wine and Sl2,-
900, 900 of brandy are exported to foreign
countries The public revenue derived from
this source il estimated at about 5000, 600,
besides large amount raised by incorporated
towns and cities in the shape ct octrol duties.
Gunny Bags. Bagging, Etc.
The market for baggirg during the week
has ruled quiet and but few lots are changing
hands. The large transactions of the previous
ten days have reduced stocks to such an ex-
tent that holders are very firm as to price, and
do not seem inclined to shade quotations.
The figure they are asking is l2s(Gl2Ic, with
chance of some lots being still obtalnable at
l2lc cash. Bales are quiet and nominal at
9i(G95c for India. Borneo is closed out here.
Boston price is 12c Bags are quoted at 13c
for 440's. Butts have ruled very firm and
sales are making Of small lots at Sc, cash aud
time. The stock on hand is very light; sales
OF 400 bales at &c, cash and time the market
closing firm at Sc, cash. Distant arrivals are
to be had at 24@2sc, currency; 2!c. gold,
duty paid, time.-N Y Chronicle, 20th inst.
Verdict for S3S.s62 so.
In 1866 p. O'Sullivan was employed by
Marshall 0. Roberts TO go to Mexico to get an
authorization from Emperor Maximillian for
pee Railroad Company to build railroad
across the Isthmus OF Tehuantepec TO the
New York and Tehuantepec Railroad and
Steamship Company. Mr.. O'Sullivan sue
ceeded in getting the order, but Immediately
after, President Juarez, as representative OF
the Republic of Mexico, declared that the
original grant had lapsed and become for
felted, and gave q new grant, with the same
privileges, to the Tehuantepec Transit Com
pany O'Sullivan sued Roberts for $4,000,
which he alleged the latter promised for his
services. This was refused on the ground
that he only promised $1,000 in cash, which
he paid, and $50, 900 in stock Of the new COM
pany whenever formed, and that the authori-
zltion was invalid, because the old grant was
nugatory. Mr.. O'Sullivan got verdict in
the Superior Court for $4,000; Mr. Roberts
appealed, and the General Term ordered
new trial. The second trial resulted, in the
Superior Court, before Judge Speir, yesterday,
in verdict of S3S, 962 so for the plaintiff
\. 7. Bulletin, Goth inst.
An Important Decision.
The Philadelphia Ledger says that some
two or three years ago controversy arose as
to the duty of q bank where time draft has
been drawn against consignment to order
and has been forwarded to the bank for COL
lection with the bill Of lading attached, with
out any further instruction. The Clearing
House Association of Philadelphia banks
submitted the question to their counsel, and
werS advised that it was the duty OF the
bank to surrender the bill of lading on the
acceptance Of the draft, and our banks gen.
orally notified their correspondents they
would follow this practice; but shortly af-
forwards q case came up in Boston, IN the
United States Circuit Court, in which the
Judge ruled that it was negligence for
the collecting bank to surrender the
bill Of lading, and the acceptors having
become insoIvent he decided that the bank
was accountable for the value of the goods
given up. This case was carried to the Su
preme Court at Washington, and the counsel
tor the Philadelphia banks procured permits.
sion to file an additional brief enforcing their
views. The case was argued last February,
and was held under adyisement till a few days
ago, when very elaborate opinion was deliv-
cred by Justice Strong, reversing the order of
the Circuit Court and establishing 1t as the
law of this country that in such a case, upon
the acceptance of the draft, the bill of lading
must be given up He holds that it is the
necessary implication that the sale is for
credit. payable in the acceptance, and that
the acceptOr is entitled to possession of the
goods so as to obtain funds to meet his &C
ceptance at maturity
The Philadelphia Board of TRADE and the
Bankrupt Law.
The Executive Committee of the Philadel-
phia Board of Trade, who have had under
consideration a proposition to memorialize
Congress for an amendment to the existing
bankrupt law, have submitted a report of
their examination into its practical workings.
Such clauses as have been deemed unequita-
BILE we're analysed, and the report upon the