ACTION OF ASSUMPSIT GOODS SOLD AND DELIVERED.

In the Supreme Judicial Court of Massachusetts, (January, 1850,) Lyman Reed et. al. Moses H. Call.

This was an action of assumpsit. The plaintiffs declared in their writ on the common counts for goods sold and delivered on account annexed, and also filed the following specification of their claim. "The plaintiffs claim of the defendant $126, with interest; this sum being the price of certain flower sold to him, viz: ten barrels delivered on or about August 10, 1847, and eleven barrels on or about August 11; this flour had upon the barrels the shipping mark R, and it was known partly as the "Wilson," and partly as the "Bronson" flour." The plaintiffs offered evidence tending to show that early in August, 1847, one of the plaintiffs, Mr. Hurd, and the defendant, were together in a store in Utica street, in Boston, where the plaintiffs kept flour on storage; that they were standing in front of a large quantity of flour piled together; that one of the plaintiffs, Mr. Hurd, addressing himself to the storekeeper, said, "Mr. Call also takes the balance of this Wilson and Bronson flour,' being the balance of a lot put into the store in June, some of which had been previously sold to the defendant; that thereupon Mr. Hurd, the defendant, and the storekeeper, counted the flour as near as they could, and made it about twenty barrels; that Mr. Hurd then told the storekeeper to separate this flour from the rest; that this was done soon after, and this flour was rolled out near the back door of the store, separate from other flour; that while it was there so separated, one of the plaintiffs' clerks came up and counted the flour, and stated that he would give an order for the flour to the defendant: that the clerk of the plaintiff did give to the defendant an order for twenty barrels of flour, (Wilson seventeen, Bronson three ;) that the clerk, when he counted the flour, found seventeen barrels of Wilson and three of Bronson flour by itself, separated from other flour; that this flour all bore the shipping mark R upon it, which was a mark designating a whole cargo of flour, and not denoting its quality; that August 10th, the storekeeper delivered to the defendant's teamster ten barrels of flour, and the next day eleven barrels, twenty-one in all, bearing the shipping mark R; that at the time of the delivery of the twenty-one barrels, the defendant did not deliver the order to the storekeeper, but that several days afterwards, and after having been asked for the order by the storekeeper several times, he gave him the order as being an order for flour, which he had received, and that the flour delivered on the 10th and 11th of August to the defendant's teamster was the same flour designatsd as the "Wilson and Bronson" flour, and which had been separated from other flour in the store. The defendant offered evidence tending to show that he bought of the plaintiffs early in January, 1847, a lot of flour, the same in quantity, and bearing the same marks as those specified in the order of August 6, and for this purpose, introduced a bill rendered to him by the plaintiffs, dated July 8, 1847, in which he was charged with twenty barrels of flour described in the same manner as in the order; that the lot of twenty-one barrels delivered to him on the 10th and 11th of August, was parcel of another lot, for which he had already paid the plaintiffs, and was not the flour described in the order introduced by the plaintiffs, which he contended he had never received.

Upon this evidence, the court instructed the jury that the plaintiffs, in their specification of claim, sought to recover of the defendant the price of a certain quantity of flour, which they had set forth and described by certain particular marks and designations; that the burden of proof was on the plaintiffs to satisfy the jury of the sale and delivery of the flour, such as was described and set forth in their specification; and that if the jury were satisfied, beyond a reasonable doubt, that the plaintiffs sold twenty-one barrels of flour to the defendant, ten barrels of which were delivered on or about the 10th of August, and eleven of which were delivered on the 11th of August, the flour having upon the barrels the shipping mark R, and known partly as the "Wilson" and partly as the "Bronson" flour, their verdict must be for the plaintiffs, otherwise, for the defendant; that the plaintiffs had the burden of proof throughout, and must sat

isfy the jury that they sold and delivered the flour described and named in their specification of claim, and not other flour, to the defendant; if they were not so satisfied, or if they had reasonable doubts whether the flour named in the plaintiff's specification, was delivered on or about the 10th or 11th of August, or if other and different flour than that named in the specification was then delivered, their verdict must be for the defendant.

The jury returned a verdict for the plaintiffs. The defendant excepted to the ruling of the court.

SHAW, C. J., delivered the opinion of the court, confirming the rulings and instructions of the court below, and ordered judgment to be entered on the verdict for the plaintiffs.

CONSIGNEES.

Consignees are not liable for any loss occurring on a consignment of cotton by the detention of the vessel at quarantine ground, unless it be shown there is some establised usage to protect the consignee from the risk and expense of lighterage, or unless under special instructions from the shipper.

IN THE SUPREME COURT OF LOUISIANA.

William A. Howland vs. George A. Fosdick & Brother. Appeal from the Fourth District Court of New Orleans.

The defendants, who are merchants in this city, shipped to the plaintiffs in New York, in the month of August, 1847, forty-six bales of cotton, and directed them at first to sell it on its arrival. They drew on the plaintiffs at the same time a bill for $2,072 40, on the shipment

The plaintiff's acknowledged the receipt of the letter containing the order to sell at once, before the arrival of the ship. They accepted the bill, and have since paid it.

On the 27th of September the shipment arrived at the quarantine ground, eight miles below the city of New York, and was not permitted to enter the port until the 11th of October. After her arrival the plaintiffs frequently sent to ascertain when the cotton would be landed. It was landed on the 16th of October. On the same day the plaintiffs had it hauled to their warehouses, and as soon as practicable placed samples of it in the hands of two brokers. It was sold on the 23d of October at 8 cents per lb., leaving the plaintiffs uncovered to the amount of $574 54. They sue for the recovery of this sum, which the defendants refuse to pay on the ground that it was the duty of the plaintiffs to send lighters to the quarantine as soon as it was ascertained that the vessel would be detained there, for the purpose of bringing the cotton to the city of New York, and in failing so to do, they violated the defendants' orders and were guilty of gross neglect, and by reason of the delay which occurred, the defendants lost 34 cents per lb., on the cotton, and have sustained damages in the sum of $671, which they claim in re

convention.

There was judgment for the plaintiffs, and the defendants appealed.

ROST, JUSTICE.-The reasons given by the court below in support of this judg ment are as follows:

"By the bill of lading the ship undertook to deliver the cotton in the port of New York, it was then incumbent on the defendants to have shown some usage by which the consignees were bound to send to Staten Island, and which protected the said consignees from the risk and expense of lighterage, &c., and this has not been done to my satisfaction. On the contrary, from the occupation and long experience of the witnesses, Barstow & Roberts, in the New Orleans trade, I come to the conclusion that it is not the usuage, nor was it the duty of the plaintiffs to send to Staten Island unless under the special instructions of the defendants." In view of the facts and of the law we entirely concur. The defence is not sustained by the evidence which is inconsistent with the defendant's own letters and instructions to the plaintiffs. Judgment affirmed, with costs.

COMMERCIAL CHRONICLE AND REVIEW.

OF

STATE OF THE MONEY MARKET-BANKS OF NEW YORK-ACCUMULATION OF DEPOSITS-LINES DISCOUNT-BANKS OF THE UNION-NEW BANK LAW OF MASSACHUSETTS-COMMISSIONER'S REPORT -RECOMMENDATIONS-CALIFORNIA GOLD RECEIPTS-AMOUNT RECEIVED AT THE MINT-MINT LAW -BRANCH MINT IN NEW YORK-EFFECT OF GOLD RECEIPTS-STATE OF AFFAIRS IN SAN FRANC ISCO-EXTENSION OF ITS TRADE-RISE OF PRICES ON A FULL CURRENCY--EXPORT OF PRODUCEPRODUCTION OF GRAIN IN EUROPE-COMPARATIVE COST OF WHEAT IN ENGLAND AND THE UNITED STATES-CONSUMPTION IN ENGLAND-PROBABLE WANTS OF BRITAIN-MEANS OF TRANSPORTATION IN THE UNITED STATES-ERIE RAILROAD-ABILITY TO CARRY FREIGHT-CANALS-RAILROADSNEW AVENUES OF TRADE-GOVERNMENT FINANCE-CUSTOMS REVENUES, ACTUAL AND ESTIMATED -LARGE RECEIPTS AT NEW YORK-PROBABLE ACTUAL AGGREGATE-CUSTOMS RECEIVED AT NEW YORK AND PHILADELPHIA, FOR JANUARY-EXPENSES OF COLLECTING—ESTIMATES OF SECURITYALLOWANCE BY NEW LAW.

DURING the month the money market has gradually become more easy. The very considerable importations of goods which took place in December and January, at prices ranging higher than those of last year, in connection with the desire to hold produce, cotton, tobacco, coffee, and sugar, more particularly, induced a demand for money, which raised its rate through January, in the New York and Philadelphia markets, and made it more stringent in Boston, where the continued demand, for railroad purposes, has, for a long time, kept the rate of interest at a high level. It has been the case that the lines of discounts on the part of the New York chartered banks have reached, in most instances, the legal limits, which are twice and a half the capital. The leading features of these institutions, at the latest returns, were as follows:

Capital.

NEW YORK CITY BANKS.

Loans.

Specie.

Balance due

banks.

Circulation. Deposits. Chartered.. 16,251,200 35,033,986 5,215,178 3,650,592 19,843,976 5,254,844 Free...... 8,406,690 17,357,240 1,853,845 1,913,047 9,028,505 3,070,336

Total 1849. 24,657,890 52,391,234 7,069,023 5,563,639 28,872,481 8,325,180 Total 1848. 23,652,680 41,993,453 5,850,424 5,783,298 21,443,148 5,558,947

Decrease....
Increase....

1,005,260 10,397,781 1,208,599

219,659

......

7,429,333 2,766,233

There is here a very considerable increase of private deposits, and balances due banks out of the State, which, together with the increase of capital, have been employed in an increase of 25 per cent in loans, although by the terms of the law the chartered capital could be increased, in the aggregate, nearly $5,000,000; yet most of the small banks are quite up to the limit. Those of larger capitals do not enjoy a proportionate amount of deposits, to enable them to swell the loans. The spring business opened quite early, and the payments from the interior were prompt and large, so much so as to enable many dealers to retire their own paper; and as the season advances, the balances due country banks, as the result of sales of produce, will be discharged by purchases of goods. The condition of the leading banks of the Union, at late dates, comparing the aggregate with that of the same institutions last year, is as follows, compiled from official sources:

6,975,814 10,924,113

2,082,910

148,859

7,129,227

BANKS OF THE SEVERAL STATES AT DATES NEAREST TO JANUARY, 1850.

Loans.

Specie.

Capital. Circulation. Deposits. Massachusetts October $34,630,011 $56,580,309 $2,749,917 $15,700,935 $9,875,317 N. York city. Dec., 27 25,439,990 52,877,371 7,075,468 6,013,348 Philadelphia.. Jan., 1 10,670,000 20,224,968 4,113,722

Baltimore... Jan., 1
New Orleans. Dec....
State B'k, Ind. Nov
State B'k, Mic. Janua'y
Ohio banks... Nov...

...

15,575,970

28,868,488 4,131,403 10,942,966

2,113,758

2,073,588 3,648,817

8,215,471 7,470,291
3,781,808

4,490,023 6,583,042

1,279,163

Maine banks. October

3,098,000

5,275,171

339,231

2,252,764

1,094,098

141,079,804 226,137,561 35,643,014 72,386,582 84,342,261 134,713,868 202,048,798 33,869,272 66,462,441 67,812,321

be

The deposites have increased in all these institutions, to a very considerable extent. In the Northern Atlantic States, the increase has been the most consid erable. Massachusetts presents a general increase of credits, with but a trifling rise in specie. In May, 1849, a law of that State appointed bank commissioners to make a careful examination of the laws of that State upon the subject of banking, and to report on the currency best adapted to the use of the people, and whether any alterations mutually advantageous to banks and people may made. The commissioners, Messrs. Lincoln, Cabot and Boutwell, have made their report, advising some changes, among which the most important is that the banks should be required to retain a certain amount of specie, always in proportion to loans. In relation to the personal liability of stockholders, created by the act of May, 1849, they express no opinion. They, however, propose, with great justice, that the banks should be required to make monthly returns of all their affairs, and to make them promptly, so that they will be of service to the public. This, after all, is the great means of safety. The experience and sound views of Mr. Boutwell and his associates are well expressed and judicious.

The banks, generally, do not appear, as yet, to feel the influx of California gold. The amount received in the last few weeks, has been as follows:

Empire City, at New York, $1,331,027; Ohio, at New York, $500,000; Cherokee, New York, $200,000; Alabama, at New Orleans, $350,000; Falcon, at New Orleans, $500,000. Total, per manifesto, $2,881,027. The amount not on manifesto, but in the trunks of passengers, is estimated at not unde $1,500,000 additional, making $4,381,027. The exports of specie from New York abroad, this year, has been $135,231, and the Government sent, recently, $100,000, in gold, to Florida, for discounts.

The amount of California gold which had been received at the Philadelphia

mint, to the middle of January, was $6,500,000. That amount was increased to $8,000,000 by the middle of February.

The quantities of California gold that arrive are not available as money under at least some sixty days, until they can be coined at Philadelphia. The law forbids a greater amount than $1,000,000 of public money to remain at the mint and branches at one time, and at the close of January there was at Philadelphia $841,150, and at the branches $188,850, making a little more than the million. It was the case, in 1847, when some $24,000,000 of foreign coin was imported, that the Secretary of the Treasury, by constant transfers of the money received from duties to Philadelphia for coinage, and disbursing thence the coined money, kept the mint regularly and actively in operation. But the English and foreign gold so received varied but very little from a uniform fineness, and the duties of the assayer were comparatively light. The California gold varies very much, and all of it contains a considerable proportion of silver, to separate which is an expensive and tedious process. Hence the fecility for turning the gold which, deposited by private individuals, into money, is slow, and the result uncertain. It was not until the middle of February that the mint was prepared to pay the certifi cates issued prior to December, 1849. Some six new furnaces have been added to the Philadelphia mint, and deliveries hereafter will be more prompt. It has, however, been found advantageous to send the gold to London, and sell bills against it at 9 a 94—thus making it more promptly available than to await our own tardy mint operations. If a branch mint were established in New York, the matter would not only be far more promptly effected, but the expense of transportation would be saved. The mint certificates would be at once available as money.

It is the case that the gold received into the country from California is beginning to affect general business to a considerable extent. Thus last year from all towns and sections of the Union, adventurers for California were fitted out with all the means themselves, relatives and neighbors could command. To do this, debts were deferred, and purchases of goods economised. This has now began to react, and the remittances of those adventurers are now enabling debts then contracted to be paid, and those in straightened circumstances to improve. Thus an express house reports that of over 500 distinct remittances made through them, over 200 were to female relations of absent diggers. Thus the product of California first finds its way into the channels of trade, from the several homes of adventurers, producing the same effect as if it had been produced in the United States. From these sources it finds its way back to the great reservoirs. Of the $12,000,000 received into the country up to this time, at least $6,000,000 has been to different families scattered in the interior. And as by far the larger portion of this has been procured by those who left home, because their services then were unproductive, it has very nearly the same effect as if they had produced and sold as much farm produce extra. This money, coming back to the hands of merchants in exchange for goods, naturally produces a gradually increasing abundance. This is daily more perceptible; as the season advances, business paper has become scarce at 7 per cent within 90 days; and the banks take all they can get at 6 per cent, "at call," on government stocks 5, and in some cases less is obtained.