Savannah morning news. [volume] (Savannah) 1868-1887, 1883-11-29
AT THE STATE CAPITAL.
Further Particulars Concerning the De-
cisiOn Against Cotton Futures.

ATLANTA, Nov. 2S.-The decision of the
Supreme Court yesterday in regard to
dealing in cotton futures creates intense
excitement among the patrons of our
three cotton and produce exchanges en-
gagged in that business. In the case from
Augusta a note given for futures was by
this decision declared void and
worthless, having been given for a
gambling debt, dealing in fu-
lures being gambling in disguise.
This mornings Constitution says of
this case: 1.-THE case in which the decision
was rendered was an appeal from Rich
mOnd superior Court. 1t was that of the
National Exchange Bank of Augusta
against Robert E. Cunningham. Cum
ningham gave his note to Warren, Wal
lace u Co., cotton dealers of Augusta, who
transferred it to the bank. Payment was
refused and the bank brought suit. The
plea was that the note was given as part
OF future contract. In delivering the
opinion, which was able and exhaustive,
Justice Blandford said: If this is not a
speculation on chances, a wagering and
betting between the parties, then we are
unable to understand the transaction. A
betting on game of faro, brag or poker,
can not be more hazardous, dangerous or
uncertain. Indeed, it may be said that
these animals are tame, gentle and sub
missive compared to this monster.
The law has Gagged them and
driven them to their dens: they
have been Outlawed, while this ferocious
beast has been allowed to stalk about in
open midday, with gilded signs and tlam-
ing advertisements to lure the unhappy
victim to its epbrace of death and de-
structlon.' The business of selling and
ft1f1 I,
OF persistent opposition from the pulpit,
the legislative halls and the bench, to
enormous proportions. Now and then the
bucket shops have received a rebuff
when they sought to enforce their con-
tract directly; but they have managed to
avoid this, to a considerable extent, by
taking negotiable notes and transferring
them to innocent holders, in whose hands
it was supposed they were good. The Su-
preme Court struck a crushing blow
against this entire system of speculation,
holding that the whole business was vast
gambling scheme; that all contracts or
notes based on futures were gaming con-
tracts, and absolutely void, and that they
were not good even in the hands of an in
nOcent purchaser"
The thief Preston, with his wife, ar
rested here, turns out to be "Windy
Dick" with several aliases. He is a no.
torious gambler, pickpocket and thief, and
is wanted in three States for crimes COM
mitted there. The Sheriff of Lafayette
county, Ind, is now on his way to At
lanta to carry him back there in response
to a reward of 5000. There will then be
four more left outOf the six recently cap
tured here.
The Jury in the Defour murder case
brought in verdict of guilty this after
noon without any recommendation, which
means hanging. johnson, who confessed,
and on whose testimony these two accom-
pllces were convicted, has not yet been
tried. Public opinion still leans to the
belief that none of them are really guilty,
and that new trial will result, as in the
case of poor Asa Gum.
John Brown and Tom Savinger were
sentenced to be hanged January IL.
0. p. Cornett, deaf mute, who muir
dered his wife several days ago and
escaped arrest, surrendered himself to the
Sheriff to-day.