The New Orleans daily Democrat., 1878-11-13


Z The Federal Supreme Court announces an
III important opinion to auctioneers. NO 0t''oe
has right to tax auctiOnesrs VINO sell goo'7
In the original packages in which tney ate
M M7 imported, as the clause of the constitution
S3reguInting commerce between the StaIeS iol"
bids such levy.
as@ The movement of the saccharlne product
s from this port has commenced quito hVeay'
the steamer Whitney cleareu lot
New York with 1896 bbls OF molasSes ana 393
sbhds OF sugar and the steamer New orleans,
for the same destination, carried out 56G6
lAt,blg of molasses and Al hhds Of sugar-maktng
g9aa total In the two ships of 6962 bbls OF mo-
sz Iasses and G34 hhds OF sugar.
Ia The report of a demonstration OF silver by
VI india is pronounced absurd by L. W. sehg-
Il imam, the New York banker. The Hindoos pre-
afer silver to gold, as the negroes OF the South
Y hDrefer large. white, shining silver dollars TO
Hksmall gold ones The English would be the
8#a ast persons to favor the demonstration OF
Qgsilvor in India, as it would bring about the
VERY ! thing British tinancers dread most-a
Z urther drain Of gold from England.
Z The Chicago Tribune says: "Ihey say the
Asarecent depression In lard Is largely due to the
Tact that several thousand barrels Of the Old
ssRpork have been tanlzed. or ordered to be tank
Sasd, at once increasing the quantity OF lard, |
Ez and making some buyers afraid, as lard made
a1n this way cannot be depended on to keep
"a sweet There is probably some mistake
q about It, they make grease out OF Old pork,
S8 but seldom lard
~ There are now open in India Io3a niles
nd al
81 are laid with q steel track The lines now
81 reach from Calcutta to Bombay, and ap-
~ proach the frontiers ofrhibet and Afghanistan,
5 while some connect the alluvial plains OF the
"a indus with Ihe ocean. The entire outlay thus
II far has boetl $3.50 100000 or $500 per mile
u The net surplus of the guaranteed line during
S the past year has exceeded the guaranteed
IN Interest by $7o52,ooo. In consequence, some
ii of the roads made extra dividends, and the
81 State was relieved from appropriation for the
3 guaranteed lines. The average net returns
III are larger than in England or America.
n The New York Daily Bulletin states that
N the managers Of the Produce Exchange In
III that city have at last acted in q matter which
n has excited much interest. Complaint was
IN recently made to the board by Mr.. A. G. JEFF
frey that owing to misrepresentation, he
had been induced by Mr.. O. Stahlnecker to
invest $40, 600 in q eef-exporting company in
which the latter was a director. The spec
ulation had proved unproiitable, and he re-
uuested that the board Investigate the matter
and take suitable action. Mr.. Stahlnecker,
when called upon for his defense, denied that
he had made Misrepresentation, and urged
that he had acted throughout honestly and In
good faith He claimed that he was not there
fore to blame in the matter The board OF
managers decided that, as in their opinion
" tStahInccker had violated the just and
r equitable principles of trade, he should there
fore be suspended from his privileges as a
member Of the Exchange until further notice.
We have been shown letter to ono Of our
largest cotton houses from q correspondent
writing from Augusta, Arkansas, under date
of November 8, Of which tho following Is All
extract:
eve have had two boats, one yesterday and
one this morning, and unfair as it seems,
they positively decline to take New Orleans
cotton and we will simply havo to hold it
until we can get 1t off. regret it very much.
T hate such discrimination, and hope the
Howard will come up soon and clean the
river
Tho above is written from Augusta, on
White river. The writer means that the
boats plying between Memphis and points
on that river refuse to take cotton and trans
fer it at the mouth of the river-Where it
flows into the Mississippi--to boats coming
to New Orleans. White river is at pres
ent very low, and only the smallest boats can
navigate it. There has been q steamboat, tho
Howard, lying at our leveo for several weeks
past awaiting rise in that river So soon
as there is water sufficient to cnable her to
bring out full cargo, she will be off to relieve
our Arkansas friends of the Inconvenience to
which they are now subjected.
A recent decision of tho United States Su-
preme Court had reference to the act Of 1879,
forbidding individuals, corporations firms,
etc. to tissue, circulate or pay out any note,
check memorandum, token Or other Obliga-
ton for a less sum than one dollar, intended
to circulate as money, or to be received or
used In lieu of the lawful money of the
United Stltes." The ground of action was a
class of obligations issued by a Michigan
firm, binding the firm to ''pay fifty cents in
goods at their store on demand" The court
below propounded two questions Of doubt
First, whether the issue fell under the ban Of
any valid statute of the United States; sec
ond, whether the act OF 1872 was constitu
tional. The Supreme Court decided that the
checks or obligations in question were moi
forbidden by the statute, and waived Tho
question Of the constitutionality Of the act
The gist of the decision was to the effect thai
the promise to pay referred to merchandise
instead of money, and that the definite sun
of money mentioned in the check was merely
W GTnttsSure Of the quantity of merchandise tt
be furnished the holder on demand. 1t was
also stated, incidentally, that such an obliga
ton. even If payable in money, would not b.
barred, If for sum exceeding one dollar.
Again is there movement on foot having
In ria1r the establishment in this city of