New-York tribune., 1881-12-12
DEMANDS OF AMERICAN SHIPPERS.


The special committee appointed at the conference
of The grain shippers of Baltimore, Philadelphia
and this city. which met IA few days ago at No. 80
Pearl-st., has agreed upon form of contract TO
govern dealings in cereals between the United
States and Europe. This is the first Amerl-
can contract ever formulated and it
has become necessary because OF the objections
10 mauy of the conditions of the contract formu-
lated by the London Corn Trade Association, which
were considered unjust TO American shippers II
will be submitted to the shippers at Baltimore and
Philadelphia. for their approval, and VIII then be
forwarded TO London, for action by the English
shippers and dealers of grau.
Among the rules to govern the new contract the
following points are submitted The seller
shall deliver TO the buyer, within seven days after
arrival at Liverpool, the invoice, together
with the ships name and date OF bill of ladng, the
latter to be considered proof of the date OF shipment
In the absence of evidence 10 the contrary The fact
that shipment arrives out OF condtion snail not
be by itself sufficient proof of improper shipment
Should the "lay-days" be less than as stipulated
the demurrage 10 complete them shall be allowed by
the seller in cash from the invoice, but the seller
shall have the right % buy from owner or captain
any days to complete the required nnln-
bef, providing II be done before Gb5n,,. the
the fullment of contract either plrty to the trans
action shall have the right OF repuIchase or resale
the defaulter 10 make good on demand the loss, II
any, by such repurchase or resale which night must
be used within three business days following he
knowledge of the default. Claims on account OF
quality or condition must be made within two busl-
ness days following the final discharge OF the ship
ment All disputes arising out of the contract as to
quality or condition OF shipments, from ports or
places where organized associations of grain
dealers exist shall be decided by the Off
cial committee of the association appointed Tor
the purpose. When arising at places where organ
lied associations do not exist or where there are no
official inspectors, or where the shipment is of a
non-Oilic al grade has been sold by sample, they
and all other disputes not otherwise provided Tor,
are 10 be decided in London by an arbitration COM
nittee OF the London Corn Trade Association. The
right of appeal z ven and conditions Tor tire ap
pOintment Of committees are provided Tor, so that
the Transactions may be conducted With Harness
aud justice TO all lntercsts.
HOW BANK EXAMINERS WERE DEC EIVED
Examiner Shelley, when he making his in
vestigation OF the affairs Oi the Mechanics Bank of
Newark after its failure, remarked 10 a TRIBUNE
reporter that he always declined to accept social
courteSies from bank officers when engaged in the
work o examination. and added: Il have not been
entertained at the EsseX Club with wineO
The Examiners remark Is recalled by statement
which is now made upon good authority in Newark
regarding the examination OF the bank two years
oo0 LIN 1879 TWO Examiners visited the Mechanics
Bank and proceeded To make The usual examination.
There was then icticlOus balance of over million
dollars on the books of the bank as being held by
the Meehanics' National Bank of New-York
10 the credit of the Newark bank. The eXamina-
tion occupied two days. On the second day, III is
stated. Baldwin invited both the examiners to the
lssex Club, q fashionable private club, in Park
pIlee, Newark. While there j. H. Iiulsey, who has
q fOndncss for horses. was inycged into discus
sion on that subject by Baldwin 10 divert the minds
OF the examiners, and later champagne was pro-
duced in generous quantity and the party partO0k
o il freely. Under the inspiration OF the WINE The
examiners and Baldwin returned 10 the bank
In the afternoon to complete the examine
tion, The work nearly finished,
and it remained only 10 make a comparison of the
amount credited as being held by the New-York
bank with a statement OF the latter. Ii was neces-
fary 10 communicate with Cashier Cox, OF the New
York bank, 10 verify the account. Baldwin, II Is
stated. suggested that telegram be sent TO Mr..
Cox, and "a dispatch was prepared and sent by hun.
reply was received, with the signature of Cashier
Cox. verifying the account, and the examiners there
upon lett the bank The telegram written by Bald
wiu II Is stated. was sent by some private channel