Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-09-24
WASHINGTON.
Court N alters.

WASHINGTON, September %. There are sew
eral important cases IN which the United States is
concerned to be argued before the supreme court
al its approaching session.
The first series of these are the well known
Credit Mober cases. which are in the supreme
court on appeal from the decision of Judge Hunt
in the United States Court for the district of Con-
nectlcut. These suits are brought under the
statute Of 1873 to recover from the Credit Mobi-
lier certain moneys alleged wrongfully obtained
from the Union Pacific Railroad Company, the
object of government being TO have these funds
restored to the company IN order that it may be
able to meet It's liabilities TO the United States.
The decision of Hunt WAS to the effect that the
suit could not be maintained, and was therefore
against the Uhted States. The case has once
been argued III the supreme court, but its reafRu-
ment is ordered, 1t being understood the same DIFF
ference of opinion exists in court upon the ques-
ton involved.
Another important Pacific Railroad case is that
known Is the per cent suit, government de-
mandipg per cent per annum OF the net earn
ugs snder the original law. in payment of the
debt due the United States. This SUIT involves
the question what are the net earnings of the
road, and further ct what time the road WAS legal
completed, the act passed ct the last session of
congress IN regard to net earnings took effect the
30. h of June last, but did not affect any rights of
the United States of roads existing prior TO the
passage of the act.
The Utah cases Involving the validity of the
territory. also TO be argued.
Eight Hours to be a Days Work in the
Navy Yards.
Commodore Shufeldt, acting secretary of the
navy, has issued orders to the commsndxuts of
the navy yards that eight hours shall cons ttute q
days work, and full compensation be paid there
fore, the same as now paid for ten hours. Per-
sons electng to work ten hours, shall be paid ex-
ira therefor.
Col. Casey, commissioner of public buildings
buildings and grounds, issued similar order toi
the government of workmen in his employ.
New Planet.
The Smithsonian Institute reports the that
Prof. Watson of Ann Arbor, Nj ichigan, announces
the discovery of planet of the eleventh mag j.
tude in % hours IA minutes right ascension, de-
grees minute south declinatiop, with y daily
motion south.
Receipts.
The receipts Of internal revenue to-day were
$3.50 ,o56. and from customs S51O,0A
The 1 Per Cents.
The subscriptions to the four per cent loan to-
day were $4,000.
Bank Matters.
Tue comptroller of currency has compiled the
dividend ports of the national banks Tor the six
mouths ending March LIST, 1878, from which it ap-
pears that the banks have charged off losses dur
ing that time amounting to SIC, 903, las. OF this
amount VI ,Sl3,|01 consisted Ut premiums on the
UDi,ed States bonds held for circulation, which
had depl eciated in value in the market below the
cost PRIOR to banks. The losses charged off by
the national banks during the year ending Sept.
lst, 1876, were 81 ,926, aud for the year end
dg September lst, lg77, Sl9,933, 5S7, making q
total OF more than $50,000O0.
OF loans charged Vf during the first two and .
half years, the rates of earning of national banks
to the capital and surplus for the year 1877 WAS
5.62 pei cent, and II Is estimated that the rates
for the year 1878 will not be greater from proceed.
ing years.
Inc comptroller has also compiled complete
dividend returns from the national banks in six
teen Of the prime pal cities. for the year ending
September lst, 1873 from which it appears that
Sll $40 l29 OF the losses have been charged OFT by
the banks located in those cities during the pres
ent year, of which 81 500 1868 was for deprccia
ton in premiums In United States bonds held by
the banks NJ security Tor circulation.
The total losses charged off by banks located in
the sixteen cities during the three year, ending
September LIST, 1873, were 49,, 4l0, 964 as follows