The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-05-31
COURT CALENDARs-THIs DAY

DECISIONS.


In Court Of Appeals Tnesday, May 30. 1876 !:
Motion for reargument oenied without costs to either
parfy.-Bccker Howard.
Motion for reargument denied. with $40 costa Van
Dcnburgh vs.. President, &c, of Greenbush.
Judgment reversed anu new trial ordered, costs TO
abide ent-Mersereau va. Phoenix Mutual Insurance
Company: Bell VS. Harrison; Marsh VS. Russell
Judgment Of General Term affirmed, with costs Of
Al parties to be paid out OF the fund.-Winthrop vs..
Judgment affirmed, with costs-Heyward vs. Bron-
nan smith Va The Mayor &c Murphy vs. Buchanan;
Order affirmed with costs Ryan vs. Atlantic Mutual
Insurance Company.
on stipulation, with costs -Janxs vs. Brown.
Ordcr granting new trial affirmed and judgment abso
lutte for plaintiff on stipulation, with coss-Sherwood
vA Mercantile Mutual Insurance Company.
Judgment OF Supreme Court and decree Of Surrogate
reversed and proceedings RENTED with directions
Surrogate TO proceed in accordance with views
Gilman
Judgment and order afirmed, with costs-McGuire
Brick Brck.-MOti0n to modify Judgment as to
costs argued by 5. Hand for motion
ORDERS
No 27l.--In re wh.ttescy; argued by N Nolan and
dent.
No asl--Platt vs. Plat; argued by s. P. Nash for
appellant and william r. Martin for respondents
No asa Cole VS.. Malcolm; submitted for appellant;
argued BY H. .. Dell for respondent
No saerSy " GREEN argued By Carkson Pot
No $50 lin re Hart; argued by, George +. Com
stock for appellant and w, T. Cogsweil Tor respondent
Case still on
Adjourned
sa II: so s's 's s As Fl asg = lss Is as follows
UNITED STATES SUPREME COURT.
wAsnIscros, May 80, 1870
DECISIONS
ELLIS or LAprSG ATTACHED TO TINE DRAFTS WHEN DE-
LvEKABLE uPos ACCEPTANCE OF THE DRAFT OR
NOT UNTIL PAYMENT
No. Is The National Bank OF Commerce OF Boston,
State OF Massachusetts, Va The Merchants National
Bank OF McmphS State OF Tennsssce-In error to the
Circuit Court for the District
fundamental question IN this is whether bill OF
aiding OF merchandise deliverable TO ORDER when
:ached time draft and forwarded with the dra to
IN agent for collection without any special instruc.
lions may BIO surrendered to the drawce on bis &C.
septance Of the draft whether the agents duty is
to hold the bill OF lading after the acceptance
Tor tho payment II is true there are other
questions growing out Of portions Of tho EVIL
fence, well the finding OF the Jury, but
hey are questions OF secondary Importance The
bills OF exchange drawn by cotton brokers rcsId
Ing in Memphis Tenn on Green Travis, merchants,
residing in Boston. They were drawn cotton
shipped by the brokers Boston, invoices OF which
sent TO Green Travis, aud bills Of lading were
taken BY the shippers, marked in Of two ship
mcnts ITO Order" and in OF the third Shipment
marked "For Green Travis, Boston, Mass" There
was agreement between the shippers and the draw
that the bill OF iadng should be surrendered
eeptancc OF the bills OF exchange but the existence Of
this agreement was not known by the Bank Of Mem
PMS when the bank discounted the drafts
ma took viii. them the bills Of ladng in
dsrsed by the shipperA We do propose to inquire
whether the agreement under these circumstances,
pught 10 have any effect upon The uccsIon oil the
Connecting thai bills Of ading are negotiable, and that
That their Endorsement and delivery pass the title oil
The shippers 10 the property specified IN them, and,
therefore, tha: the paintls, wncn they discounted the
traits and took the endorsed ralrcad rccepls bills OF
aiding. became the owners OF the cotton Il 10 still
hey sent the bills with the drafts 70 Their correspond
,nts 10 New York, the Metropolitan Bank. with
uructions TO hold them alter acceptance and the
Metropolitan Bank transmitted them 10 the defend.
ants Boston, with no other instruction than that
The bills were sent .sfor collection" What them
tho duty or defendantsf Obviously " was first To
obtain the acceptance OF the bills Of exchange But
Green h Travis we're not bound TO accept even
though they had ordered tho cotton, unless the bills
Or ading were delivered to them contemporancousiy
with their acceptance. Their agreement with Their
vendors the shippers, secured them against such obl
cation. Moreover independent oil this agreement, the
drafts upon their face showed that they bad been
drawn upon the cotton covered by the bills OF adng
Both tho plaintiffs and their agents, the defendants
we're thus Informed that tho bills were not drawn upon
fund OF the drawers the hands Of Green Ira
VS. and that they expected to be paid out OF the
proceeds OF the cotton But hsw could they BIO paid
y
Eero wnhhcldf Withholding them, thcrciore, would
icfcnt alike the expectation and tho intent Of the draw
IT'S OF the bills Hence, there nothing more, u
would seem that drawers agent 10 collect time
bill without further instructions would not be justified
y refusing 70 surrender the property against which
tho bill was drawn alter lis acceptance, and thus dis
able the acceptor from making payment Gus OF the
property designated that purpose. But Il seems 10
be natural inference, indeed necessary implications
from time draft accompanied by bill OF iading in
dorsed in blank, that the merchandise (which IN tins
was coton) specified In the bill sold credit
ts,h o mr. hat The Ira
~ demand for an advance tho Shipment or that
The transaction 70 = consignment 10 be sold TO the
drawcc account OF the shipper. II Is difficult to
conceive any Other meaning the instruments can have
After elaborate OPINION removing tho decisions ia
point, the Court conclude that whether draft
:ompancd 0y bill OF ading be viewed evidence
p credit, or as request for advances on the
credit Of the consignment the conscquencois same
rbs acceptance Is asked the OF the drawer
tho draft but on the faith 81 the consignment. II A.
declared tho OPINION OF The Court that respccta
bio be found IN which u has boon decided that
when time draft has been draw against consiun-
cnf 10 order, ant has been forwarded an agent for
collection. with the bill OF iading attached, without