Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-11-25
CONTROLLER KNo1's REPORT.

CONTROLLER KNOX REPORT.
WASHINGTON, Nov %. The annual report
OF the comptroller of the currency was to-day
sent to the public printer. 1t has tables of
the resources and liabilities of the national
banks from the organization of the system in
1868, and for the last four years, the capital
and deposits of State banks, savings banks and
private bankers. The report discloses the re.
lations of the bank to the government ia re-
funding of public debt and RESUMPTION of
coin tables, and gives tables showing the cost
of refunding in this country and in France,
and of the British debt into English consols
from 1898 to 1856. 1t devotes separate chapters
to subjects of taxation, reserve, illegal certlh-
cation of checks cost of settlements of affairs
Of insolyent banks, surplus dividends and
losses of national banks, and gives the rate OF
interest in New York and in England for q
series of years; the coin held by our banks and
by the banks of ngland and banks Of France
for ten years, and other information.
sUPRENE COURT DECISIONS.
WAsHlSeroS Nov. 24.-No. Is. The Ameri-
can Emisrant company, appellant, vs.. the
county of Adams. Appeal from the circuit
court of the United States for the district of
Iowa, upon rehearing. This was an action
brought to rescind certain contract between
the county OF Adams, Iowa, and the American
Emigrant company, whereby the county agreed
to convey 10 the company its swamp lands and
it claim against the govern ment for indemnity
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 pu' suauce of the aforesaid contract, and to
re over the moneys which the emigrant COM
pany had realized from said property and
claims. This case was before TIL, court at its
last term. and Was then decided adversely to
the emlgraut company, the court holding that
the Contract and deed under which the COM
clusc the act Of the State legislature authorize
ing them inconsistent with the act of
Congress Of Sept. %, 1880, by which the grant
of swamp lands to he State made. The
latter act provided that tho proceeds of sales
Of lands therein granted to the State should
be applied exclusively, as far as neces-
sary, to tho reclamation of such lands
by means Of levees. drains. etc. The Iowa
State Ia" 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 disposiug Of swamp lands, which
was suogecsive of toe 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
cure. Both the scheme itself and the contract
now IN question: which was based upon 1t, were
therefore held to be void.
Upon a reargument of the case, however,
and upon mature consideration of the subject,
the court has como to a contrary conclusion.
1t now holds that security for the appropriation
Of the proceeds of the lands, far nee
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
erection 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
now presented, the court is Of the opinion that
Ike complaints below were not entitled to
decree and that the bill should have been dis
missed. The decree of the circuit court is
therefore reversed and the cause remanded,
WIKI directions to dismiss the bill without
pre- udice to the right of the county to bring
an action at law for breach of the terms Of the
contract.
No. 41-Charlcs Fl. Holden, appellant. vs..
The Freedmans Trust company, et:al. Appeal
from the supreme court of the District of
Columbia. The question presented by this
case is whether note bearing interest at
certain agreed rate, and unpaid at maturity,
continues to bear interest at that rate till paid
or whether in the absence of any expressed
bLlpuldtlOu DIS 10 Tue Iate OF interest," alIcr ma
turlty 1t thenceforth bears interest only at
rate fixed by law. The court holds that if the
parties meant that the contract should con-
tlnue IL would have been easy to say so. In
the absence Of any stipulation, such an in
tendment can't be inferred. The decree below
ia modified in this respect and affirmed.
No. 7o.-The Pittsburgh Gas Company,
plaintiff in error, VS.. The City of Pittsburgh,
IN error to the supreme court of Pennsylvania.
Section VI, internal revenue act of 1864; levy
ing taxes on illuminating gas TO be paid by
the manufacturer, says: IAN gas companies
whose prices are fixed by law arc authorized to
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 mako municipal corporation liable for
tax in case where a gas company for a val
liable consideration contracts 10 furnish
poratlon with gas free of charge. The judy
ment OF the lower court is affirmed with costs.
WRIT OF ERROR GRANTED.
Chief Justice Waite day granted writ Of
error to the supreme court Of appeals 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 co!ored persons Tinsley, plaintiff in error
came to the District of Columbia about year
ago, aud married a white woman. Upon his
return to Virginia. he was arrested, tried for
the offensc, found guilty and sentenced to the
penitentiary, where pending this appeal he re-
mains. Persons interested in final settlement
of the question of the constitutionality of the
State law prohibiting intermarriage Of races,
have brought the case t. this court for decision.
MISCELLANEOUS
1t is not expected by treasury officials that
the public debt will be reduced more than 81
600 coo during November.
Caps for 60 cents. IS cents. 90 cents. 81.