The Princeton union., 1879-11-26
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ooxP1RoLLER KNox's 1EpoRT.
WASHINGTON, Nov. "a. The annual report
Of the comptroller Of tho currency was to-day
sent to tho public printer. It has tables Of
the resources and liabilities Of the national
banks from tho organisation Of the system in
1868, and for the last four yeaxs. the capital
and deposits of State hanks, sAyings banks and
private bankers. Tho report disoloses the re-
1ations of tho hank to the government in re-
funding of public debt and resumption Of
of refunding in this country and in France,
and of the British debt into Engliah consols
from 1898 to 1856. 1t devotes separate chapters
to subjects of taxation, reserve, illegal certif-
cation of checks, cost of settlements of affairs
of insolvent banks. surplus dividends and
interest in New York and in England for .
series of years; the coin held by our banks and
by the banks of England and banks of France
for ten years, and other information.
SUPREME COURT DECISIONS.
WASHINGTON, Nov. A.-No. 16. The Ameri-f
can Emisrant company, appellant, vs.. the
county of Adams. Appeal from the circuit
court of the United States for the district of
Iowa, upon rehealing. This was an action
brought to rescind a certain{contract between
the county of Adams, Iowa, and the American
Emigrant company, whereby the county agreed
to convey to the company its swamp lands and
on account of sales Of such lands belonging to
it by public land officers. The action sought
also to rescind deed executed by the company
in pursuance of the aforesaid contract, and to
recover the moneys which the emigrant COM
pany had realized from said property and
claims. This case was before this court at it's
last term, and was then decided adversely to
the emigrant company, the court holding that
the contract and deed under which the COM
pany set up the title to the land were void, be-
cause the act of the State legislature authoriz-
ing them was Inconsistent with the act of
Congress of Sept. %. $780, by which the grant
of swamp lands to the State was made. The
latter act provided that the proceeds of sales
of lands therein granted to the Stste should
be applied exclusively, as far as neces.
sary, to the reclamation of such lands
by means of levees. drains. etc. The Iowa
state law under which the contract now in dis
pute was made, authorized the application of
the proceeds OF those lands to the construction
of roads, bridges, public buildings, etc. This
act the court held to be inconsistent with the
act of Congress inasmuch as it introduced
scheme for disposing of swamp lands which
was subversive of the trust imposed upon the
State by Congress- and devoted the lands and
their proceeds to purposes different from those
which the original grant was intended to se-
cure. Both the scheme itself and the contract
now in question, which was based upon 1t, were
therefore held to be void. hai aE2t% "
Upon . reargument of the case, however,
and upon mature consideration of the subject,
the court has come to = contrary conclusion.
It now holds that security for the appropriation
essary to the objects specified in the act of
Congress, rests upon the good faith of the
State, and that the State may exercise it's dis
cretion in the matter without necessarily being
held to account therefor, and without affecting
the title to the lands disposed of. At all events
Congress alone, in the opinion of the court,
has the power to enforce the condition of the
grant should it be necessary. The other grounds
on which the county seeks to rescind the
contract are declared to be insufficient,
and looking at the whole case as
now presented, the court is of the opinion that
decree and that the bill should have been dis
missed. The decree of the circuit court is
therefore reversed and the cause remauded
with directions to dismiss the bill without
prejudice to the right of the county to bring
an action at law for breach of the terms of the
No. 47-Charles H. Holden, appellant, vs..
The Freedman's Trust company, etial. Appeal
from the supreme court of the District of
Columbia. The question presented by this
case is whether note bearing interest at q
certain agreed rate, and unpaid at maturity,
continues to bear interest at that rate till paid
or whether in the absence of any expressed
stipulation as to the rate of interest after ma
turity it thenceforth bears interest only at q
rate fixed by law. The court holds that if the
parties meant that the contract should con-
tinue il would have been easy to say 80. In
the absence of any stipulation, such an in
tendment can't be inferred. The decree below
is modified in this respect and affirmed.
No. 75-The Pittsburgh Gas Company,
plaintiff in error, vs.. The City of Pittsburgh,
in error to the supreme court of Pennsylvania.
Section "a, internal revenue act of 1864; levy.
! ing taxes on illuminating gas to be paid by
| the manufacturer, says: ''All gas companies
| add the tax imposed to the full price per thou.
| sand feet on gas sold, and all such companies
which have heretofore contracted to furnish
| gas to municipal corporations, are in like man
ner authorized to add the tax to such contract
price,. This, in the opinion of this court, does
not make municipal corporation liable fol
tax IN case where q gas company for q val
liable consideration contracts to furnish q cor.
| poration with gas free of charge. The judg.
| ment of the lower court is affirmed with costs
WRIT OF ERROR GRANTED. gs
Chief Justice Waite to day granted writ Of
error to the supreme court of iappeals of vir-
ginia, in the case of John G. Tinsley, ;colored,
VS.. The Commonwealth of Virginia, involving
| the constitutionality of the statute of that
State which prohibits marriages between whites
and colored persons Tinsley, plaintiff in error
came to the District of Columbia about yeai
| ago, and married white woman. Upon hil
| return to Virginia, he was arrested, tried for
the ofense, found guilty. and sentenced to the
penitentiary, where pending this appeal he re-
mains. Persons interested in final settlement
| of tho question of tho constitutionality of tho
State law prohibiting intermArriage of races,
| have brought the case tc this court for decision