The herald., 1897-12-29

Is that the crops have not proved pro-
ductive. Elwood Cooper himself says
that he has been forced into turning the
output Of his orchards into oil, and here
he has not been particularly successful.
through the dishonesty of certain par
ties In ndulterating oil with cotton-seed
oil. This Is grievous wrong, and the
matter should be looked into and steps
taken to prevent the perpetration Of this
fraud. Olive oil, 1t is claimed, can be
used for medicine, but when adulterated
with cotton-seed oil the result Is in
furious. Therefore the greater the ne
cessity of protecting the olive oil In
dustry. When 1t Is borne in mind that
there are large portions of the state
which are practically useless except for
the cultivation Of the olive tree, there
should be made every endeavor on the
part Of the horticulturist both in learn
ing the art of pickling olives and also in
preventing the adulteration Of the OIL
= 4 =
Practical electricians are inclined to
doubt the commercial value of the wire
less telegraphic experiments of Marconi
and Tesla. What possibilities may de-
velop themselves in this field can only
be left to conjecture and the unfold
ing of the future, but it seems rea-
sonable to predict that the systems re-
Gently and widely discussed will be
found to have more interest than utlli-
ty. In system Of telegraphy, speed.
simplicity and solidity of the apparatus
and certainty. These requisites are in
= = o., vv,,It
uses.
The value of the exports Of electrical
apparatus from this country has
amounted in little more than half a
year to over $2,000,00O which represents
gain of about 100000 over the corre-
spending period last year. Noteworthy
as this improvement has been, 1t is like
ly to be small in comparison with the
increase which will be seen before an
other year has elapsed. as the demand
for American electrical supplies Is ap-
parently growing stronger than ever.
And since most of the exports are pat
ented articles, 1t Is fairly sure that the
business. whatever measure Of growth
it may attain, will be permanent one.
Legal Decisions
When Mortgage Pays the Taxes.-A
provision of a mortgage that, on fail
ure of the mortgagor to pay taxes on the
mortgaged property. they may be paid
by the MORTGAGE, and added to the
amount of the mortgage lien is valid.
Farwell VS.. Bigelow (sup. Ct. Mich.) 70
N. w. Rep, 579.
Mortgage Recorded and Unrecorded.--
One who takes a real estate mortgage to
secure pre-existing debt actually and
justly owing to him. without notice, ac-
tual or constructive. of the existence Of
an outstanding unrecorded mortgage
against the same property, is a subse-
quent purchaser in good faith and takes
priority. Door VS.. Meyer (Nebr.) 10 N.
w. Rep, 543.
Recovery Of Money Paid on Stock
Where one receives corporate stock un-
der an agreement to keep it If the busi-
ness of such company pays profit. but
otherwise the money advanced is to be
regarded as loan and the stock as mere
security, he must prove that the bust
ness did not yield profit before he can
recover for 1t as loan. Sperry VS..
toAtSitiu6. ~ AtSAs W. .N<ApP' .SS' SOiO'/ TO
Pacific Rep, 315,
Liability on Stock Subscription-A
mere agreement to subscribe and take
the amount Of capital stock set opposite
subscribers name does not bind him to
pay an assessment levied before one
fourth of the stock has been subscribed
for. Ry. Co. VS.. Hartman (Sup. Ct. Cal)
4S Pacific Rep, &C.
Liability of Bank for Shares in An
other Bank.-A national bank which has
purchased from third party shares Of
stock in another national bank as an
investment, and which appears on the
books Of the latter bank as stockhold-
er, cannot after the failure Of the latter
deny liability on the ground that its
purchase was ultra wires. First Nation
al bank vs.. Hawkins (U. 8. Cir. Ct. App.)
10 Federal Reporter, 81.
Rights of Pledge Of Notes.-A simple
delivery of negotiable notes as collateral
security, without endorsement, vests in
the pledgee a contingent, equitable in
terest only, subject to the prior equities
of third persons, as against the pledgor,
and subject to all defenses existing be-
tween the payee and maker. Bank Of
Chadron VS.. Anderson (Supreme Court
Wyoming3 4S Pacific Reporter. 1877.