tional the youth must renounce his mother on arriving at the age of twenty-one. Preserved Fish left two sisters, to each of whom he bequeathed a handsome farm; one resides in Vermont, and the other in Ohio. Another singular circumstance connected with this man is, that he never informed the present Mrs. Fish of the fact that he had two sis ters. The story that Preserved Fish had been picked up, when a child, on the ocean's shore, is a mere fiction. Its origin has been traced to the following laughable incident :-While on one of his trading voyages, Captain Fish was hailed by a Revenue Cutter with the question" What's the name of that brig?" "Flying Fish, sir!" "What's your cargo?" "Pickled Fish!" "Who's your captain ?" "Preserved Fish!" The revenue officer became quite angry, and immediately boarded the brig, to revenge himself for the insult. When he found, however, that only the truth had been spoken, he enjoyed the joke, and vowed that he would preserve the memory of Preserved Fish, as an ocean wonder. Instead of his history being obscure, it is well known that his father was descended from the Huguenots, and that he is claimed by one of the best families in this country, as of their kindred. Preserved Fish was undoubtedly a rough, obstinate, and eccentric man; but, after all, his heart was without guile. He was charitable, and gave away to worthy objects a great deal of money. To those whom he had reason to respect and love he was always true. Among his intimate friends he numbered many of our most distinguished fellow-citizens. He was an early riser, and invariably temperate in his habits. He was brought up a Quaker, but for several years previous to his death, he was a consistent member of the Episcopal Church. With all his faults, he was a distinguished merchant, and an honor to the city where his ashes repose in peace. C. L. MERCANTILE LAW CASES. RIGHTS OF STOCKHOLDERS IN INSURANCE COMPANIES. In the Superior Court, (city of New York,) before Judge Oakley, October, 1846. Henry Cotheal vs. John Brouwer. This was an action to recover from the defendant, as President of the East River Mutual Insurance Company, five penalties of $250 each, for having so many times refused the plaintiff, who is one of the stockholders in that company, from taking memorandums from the transfer-book, and book containing the stockholders' names. It does not appear that the defendant refused to let the plaintiff see the books, but he prevented him from taking a memorandum of the stockholders' names; and, on one or two occasions, took the book from him while he was doing so, and shut it up. The Judge charged the jury that, according to his present opinion of the case, it was not one in which the defendant was liable to more than one penalty. In cases where the law awarded penalties, there was an obvious distinction between cases of omission and commission. For instance, if a man sold liquor without license, he did so with a full knowledge that he was violating the law, and could be fined every time he violated the law, but the court did not think that the same rule would apply in the present case. If, however, on further consideration, it turned out that the court was in error, the party complaining would have his remedy. The main inquiry involved in this case, would be as to what was the construction to be given the statute, and the court considered the view taken of it by counsel, was the correct one. What was the act made for? To enable stockholders to govern their affairs. Some stockholders might be desirous to know who were the stockholders, in order that they might make a party to turn out one set of directors, and put in others. Therefore the books should be shown them, in order to enable them to see who were the stockholders. We therefore cannot give such a narrow construction to the law as would render it useless for the purposes enacted. If the stockholders wished to examine from day to day, in order to commit to memory the names of the stockholders, and if the officers of the institution refused to let them be seen, it would certainly be a violation of the statute. The question is, then, if an officer of the institution sees a stockholder making a memorandum, has he a right to shut it up? It has been said that it would be very inconvenient if the stockholders could at any time go into the office and take the books and papers to write out of them. But if the stockholder goes into the office, and brings his own paper and pencil to make a memorandum of the stockholders' names and amount of stock, it seems to me that he has the right to do so, or his examination of the books would be useless. The great object of the statute is to give the stockholders an opportunity to know who are the stockholders, on the approach of an election, and to know who have a right to vote, and therefore the president has no right to take away the books or shut them up, because a stockholder goes to take a memorandum of the stockholders' names. The plaintiff is, therefore, entitled to recover one penalty. Verdict for plaintiff, $250. For plaintiff, A Thompson. For defendant, G. Wood. MARINE INSURANCE. The following decision was recently made by the Chamber of Commerce, at New Orleans :-* John Calhoun vs. the Agency of the Nashville Marine and Life Insurance Company. The parties in this case agreed to leave it to a special committee, consisting of the president and vice-presidents of the Chamber, (S. J. Peters, James Dick and William L. Hodge,) and waiving the right of appeal. The plaintiff insured $3,000 on goods per steamboat Panama, and $2,000 on the hull and machinery, valued at $3,000, for a voyage to Matamoras. It appeared from the protest and evidence that on the voyage she encountered heavy and blowing weather, and when off Aransas, broke her connecting steampipe by the working of the vessel in a heavy sea, which obliged them to anchor, the boat making much water, and all hands, assisted by the passengers, pumping and bailing; that, not being able to obtain assistance from the shore, and the water gaining on them, they found it necessary to run the boat ashore, which they did by getting up steam and working the larboard wheel, the other being entirely disabled from the breaking of the steam-pipe. Letters were produced from the captain which stated that he was trying to save all he could from the boat and cargo, and that he expected to do so to the extent that would probably amount to $900. The defendants resisted the claim for payment on two grounds; first, that the loss was occasioned by the breaking of the steam-pipe, for which loss, or its consequences, they were not liable under that clause in their policy which says:-"The assurers not liable for the breaking of engine or bursting of boilers, nor for any loss or damage accruing therefrom, unless occasioned by external violence." Secondly, for barratry of the master, from which the insurers were free by a special clause in the policy, where the insurance was for account of the owners of the vessel, as was the case in this instance, the defendants alleging that an act of barratry had been committed by the captain having absconded with the proceeds of the damaged goods. As regards the first point of the defence, the committee consider the clause was *New Orleans Commercial Bulleiin. 1 only meant to protect the insurers from the bursting of boilers and the ordinary accidents to machinery, and any immediate damages to the hull from such accidents; as otherwise the insurer would be liable to continual claims for replacing ordinary wear and tear of machinery, and would have to keep all of it in constant good order, and did not, in any way, apply to this case, where the original accident arose from stress of weather, and was certainly one of the risks intended to be covered by the policy, and was also justly entitled to be considered as caused by the external violence arising from the weather and heavy sea. On the second point the committee do not consider the captain could, under the circumstances of the case, commit an act of barratry. After the vessel was wrecked, he became the agent of the underwriters, and not of the owners, and was acting for their benefit. There was besides no proof whatever that he had absconded, but on the contrary, so far as there was any proof at all on the subject before the committee, it led to the belief that he had been killed. Under these circumstances the committee gave a decision in favor of the plaintiff for the full amount claimed under both policies, with costs. COMMERCIAL CHRONICLE AND REVIEW. THE MARKETS AND FINANCIAL AFFAIRS OF GREAT BRITAIN-BANK OF ENGLAND-STATISTICS OF ITS CONDITION, WEEKLY, FROM 1844 TO LATEST DATES IN 1846-STATISTICS, ETC., OF THE RAILWAY MOVEMENT OF ENGLAND, SCOTLAND AND IRELAND LETTER OF BESBOROUGH CORN TRADE AVERAGE PRICES OF CORN, IN ENGLAND AND WALES, DURING EACH WEEK IN 1845 AND 1816-QUANTITIES OF GRAIN IMPORTED AND CONSUMED IN GREAT BRITAINRECEIPTS OF BREAD-STUFFS ON THE HUDSON AND AT NEW ORLEANS-U. S. GOVERNMENT DEPOSITS IN NEW YORK BANKS-BANKS OF NEW YORK IN 1946UNITED STATES REVENUE AND EXPENDITURE IN 1846-OPERATIONS OF THE NEW TARIFF-MEXICAN WAR, ETC., ETC. THE markets present, with the exception of that for exportable produce, not much of activity. The causes which have so long conspired to check what may be called the spirit of voluntary enterprise, or that disposition to project and embark in undertakings not marked out by natural causes, have not yet ceased to influence those who command capital. It is also apparent that, notwithstanding the diminished crops, both of cotton here, and food in Europe, have imparted great present and prospective additional money-values to the respective articles, there may be observed much less than the usual spirit in investing capital in them. It is true that in England and Europe the past three years have been productive of more projects for locomotion than surpass all former years within the memory of man. It does not appear, however, that natural causes, such as the diminution of the fruits of the soil, elicit that boldness of speculation that, in former years, was sure to show itself under circumstances in any degree favorable. Since the great revolution in the financial affairs of England in 1839, growing out of the sudden revival of the corn trade after several years' cessation, a vast accumulation of specie has been progressing in the vaults of the Bank of England; and this has been the case notwithstanding continued imports of corn, and the growing conviction, on the part of English ministers and merchants, that the foreign corn trade must, henceforth, be a permanent business. All the measures of the crown since 1842 have tended to this result. Duties on imported goods have been removed to the extent of £2,800,000 per annum, resulting in actual loss of £500,000, only, to the revenue. The import of foreign corn was formerly mostly dreaded from its influence upon the finances of the country through the abstraction of spe 588 cie which it occasioned. This was wisely sought to be guarded against, by placing the currency, as far as administered by the bank, on a footing not to be disturbed by any change in the currents of trade. This object was thought to be attained through the means of the new charter in 1843. By that charter, the banking and issue departments of the bank were separated, and the institution required to pay over to the issue department its specie, and receive from it the notes with which it was to discount bills; itself having no further power to increase or diminish the currency. The circulation of the bank was usually £20,000,000. The bank was, therefore, allowed to deposit with the issue department government securities to the amount of £14,000,000, consisting of the debt due to the bank by the government, £11,015,100, and comprising the capital of the institution, and also £2,984,900 exchange bills. For these it received a like amount of circulating notes, and, in addition, an amount of notes equal to the specie on hand. By this arrangement it was supposed that, as specie went abroad, the current circulation would diminish, until it, becoming too low, would correct itself. The law went into operation, however, when a large amount of specie, £15,000,000, was on hand. This being made over to the issue department with the £14,000,000 of securities, made £29,000,000, and notes received into the banking department from the issue department, being £9,000,000 more notes than could be well circulated. The actual circulation has, therefore, varied more with the amount of these notes on hand than by the actual movement of specie, which has continued to accumulate. In order to show the operation of the new law, we have compiled a table showing the leading features of the bank account under seven heads, weekly, down to the latest dates : BANK OF ENGLAND. 1844. Nov. Dec. Nett circ'n. Notes on hd. Bullion. £ Private.. £ £ £ 8,475,101 19,880,660 8,620,220 15,197,771 8,511,771 19,618,160 8,964,545 15,058,964 8,286,772 19,902,125 8,460,705 15,022,256 8,225,082 21,152,895 7,930,010 14,702,307 8,230,673 20,228,060 7,610,025 14,445,034 8,506,798 21,083,245 6,648,665 14,190,082 8,291,481 21,320,885 6,224,845 14,096,828 8,757,379 20,819,765 6,678,715 14,038,751 8,340,444 20,556,725 6,844,275 14,115,629 8,029,934 20,580,750 6,927,045 14,231,252 7,864,144 20,118,475 7,410,400 14,365,590 8,422,809 19,531,400 8,286,105 14,644,973 8,381,188 19,258,165 8,745,540 14,844,294 8,265,029 19,123,365 9,076,800 14,828,416 1845. April 589 £ £ Private. £ Nett circ'n. Notes on hd. Bullion. July 12, 13,800,344 11,282,221 3,456,089 11,356,519 21,613,030 8,068,970 16,196,286 19, 13,456,776 10,815,121 2,824,528 10,934,390 21,503,090 7,890,610 15,870,332 August 2, 13,321,844 11,463,603 3,215,363 10,960,214 21,346,975 7,849,785 15,709,614 9, 13,321,844 11,634,159 4,034,767 10,187,780 21,459,140 7,682,465 15,669,651 23, 13,321,844 11,353,577 5,393,936 8,408,837 21,189,355 7,832,955 15,602,605 Sept'r 6, 13,468,643 11,967,081 6,474,705 8,507,213 20,697,795 8,255,505 14,742,858 20, 13,348,643 13,297,048 8,222,109 8,110,787 20,470,335 8,327,895 15,347,639 27, 13,348,643 14,149,003 8,802,110 8,070,212 20,640,995 7,916,995 15,160,693 October 4, 13,348,663 15,188,965 8,703,497 8,167,961 21,260,055 7,095,615 14,865,043 18, 13,348,643 13.949,527 4,488,419 9,835,609 22,251,145 5,939,120 14,190,265 1, 13,203,138 13,429,813 4,487,058 9,099,737 22,047,340 5,219,775 13,885,042 8, 13,203,138 14,234,438 5,340,731 9,134,243 21,764,635 5,437,730 13,822,948 22, 13,201,863 15,454,390 7,363,168 9,024,223 20,959,565 6,076,985 13,514,501 29, 13,201,863 15,871,054 7,670,581 8,992,719 20,801,465 5,932,345 13,233,848 6, 13,201,863 16,224,712 8,110,401 9,022,019 20,594,640 5,945,840 13,067,350 13, 13,201,863 16,135,637 8,648,374 9,089,705 20,120,005 6,506,345 13,268,771 20, 13,201,863 16,329,285 9,408,044 8,715,667 20,051,050 6,768,340 13,378,343 27, 13,201,863 16,252,051 9,898,409 8,482,239 19,856,850 6,914,660 13,325,886 Nov'r Dec'r 1846. January 3, 13,201,072 16,262,593 9,369,630 8,350,465 20,257,415 6,418,510 13,281,472 10, 13,137,047 15,273,096 5,191,017 10,656,207 20,868,345 5,672,855 13,193,383 17, 13,137,047 15,773,124 4,710,957 11,254,618 24,180,165 5,393,745 13,139,376 24, 13,137,047 18,381,010 4,464,806 14,208,608 21,108,645 5,416,380 13,202,080 31, 13.137,047 21,466,997 4,839,810 17,036.830 21,474,495 5,112,860 13,288,344 Febr'y 7, 13,137,047 22,908,661 5,054,438 18,912,445 20,434,995 6,263,625 13,335,645 April May June 14,13,137,047 22,251,906 5,738,873 18,018,523 20,126,250 6,674,075 13,467,602 21, 13,137,047 22,539,192 6,202,903 18.091,320 20,085,445 6,887,810 13,651,727 28, 13,136,440 23,242,035 6,296,535 18,647,068 20,021,810 6,994,485 13,775,801 March 7, 13,136,440 22,118,987 6,502,355 17,828,778 19,502,645 7,576,625 13,787,205 14, 13,136,440 21,923,787 6,804,524 17,476,998 19,405,685 7,712,120 13,835,090 21, 13,136,440 21,806,194 7,065,422 17,356,203 19,230,810 8.033,665 13,965,697 28,13,136,731 22,181,392 7,319,625 17,103.928 19,585,555 7,683,690 13,987,335 4, 13,136,440 22,058,613 7,047,026 16,763,047 19,865,565 7,316,415 13,825,521 11, 14,437,065 19,438,782 4,210,976 18,069,993 20,302,135 6,728,120 13,572,027 18, 13,957,865 18,736,602 3,197,029 17,710,987 20,515,520 6,515,990 13,627,170 25, 13,528,065 17,884,532 2,698,953 16,978,110 20,561,370 6,488,140 13,705,827 2, 13,303,065 17,901,148 2,578,451 16,780,380 20,663,825 6,408,470 13,454,713 9, 13,023,065 17,734,025 3,031,375 16,256,526 20,408,590 6,836,405 13,880,102 16, 12,988,065 18,222,548 4,084,117 16,354,017 19,022,755 7,497,460 14,184,666 23, 12,988,065 18,236,480 4,809,183 15,947,268 19,921,940 7,774,925 13,413,343 30, 13,008,065 18,460,493 5,228,640 16,165,620 19,950,320 8,043,560 14,698,091 6, 12,988,065 18,321,641 5.753,512 15,927,013 19,856,820 8.468,180 15,011,692 13, 12.988,065 18,122,098 6,537,132 15,518,397 19,591,885 9,011,510 15,339,726 20, 13,090.946 17,984,603 7,313,539 15,293,909 19,373,925 9,631,235 15,688,579 27, 12,987,946 18,257,149 7,807,802 15,034,361 19,609,015 9,664,090 16,015,659 4, 12,987,142 18,145,319 7,794,200 14,402,460 20,019,110 9,303,090 15,947,851 11, 12,962,147 16,143,726 3,489,416 15,661,286 20,839,730 8,426,630 15,862,666 18, 12,962,560 15,382,397 3,162,696 14,904,973 21,000,885 8,139,020 15,770,197 25, 12,962,560 14,583,407 3,438,401 14,305,311 20,749,750 8,562,695 15,949,427 August 1, 12,961,735 14,068,2573,793,610 13,449,388 20,495,445 8,796,855 15,802,553 8, 12,961,735 13,948,578 5,014.200 12,456,737 20,311,142 9,075,163 15,944,508 15, 12,961,735 13,848,421 6,135,636 10,794,523 20,855,200 8,601,335 16,045,495 22, 12,961,735 13,012,824 6,843.002 10,074,026 20,127,965 9,506,025 16,176,666 29, 12,961,735 12 395,437 7,142,212 9,161,868 20,426,130 9,449,760 16,366,068 Sept'r 5,12,961,735 12,523,550 7,318,919 8,557,100 20,529,775 9,231,095 16,273,827 12, 12,961,360 12,321,816 8,198,800 8,095,203 20,018,360 9,846,600 16,353,848 19, 12.961,360 13,049,001 8,765,570 8,316,924 20,941,420 9,817,195 16,309,291 26, 12.961,360 14,036,157 9,755,977 8,260,779 20,866,170 9,788,685 16,224,364 October 3, 12.961,360 15,086,775 9,776,195 8,167,143 21,550,645 8,809,150 15,816,626 10, 12,961,360 15,227,665 9,801,402 8,322,626 21,772,350 8,305,785 15,582,234 17, 12,808,119 12,788,939 5,356,260 9,084,274 21,341,775 7,409,870 15,143,048 23, 12,808,119 12,219,710 4,870,737 8,755,441 21,279,890 7,157,355 14,893,906 July |