BOTTOMRY BONDS--THE BRIG BRIDGETON.

A bottomry bond was given by the master of the brig, at Pensacola, to secure the sum of $2,179 18-100, stated in the bond to have been advanced by the obligee, for the necessities of the vessel. The master also, at the same time, drew a bill on the owner, for the same amount. It was proved that the vessel required some repairs and supplies, but the evidence on the part of the claimant showed that not over $350 was required for these purposes. There was no proof, other than the recital in the bond, that the master had no other means for obtaining the money, or that the full sum advanced by the obligee was necessary for the outfit of the brig. It was contended for the libellant that the bond was prima facie evidence of the necessities of the brig, and of the inability of the master to procure funds otherwise, and was sufficient to entitle him to a decree for the amount. It was further urged, that the evidence produced by the claimant established the existence of a necessity on the part of the vessel, and that the lender was not bound to examine into the extent of that necessity, but rightfully confided in the representations of the master. Judge Betts decided that when parties came in, and contested the validity of a bottomry, the bond, of itself, was not sufficient evidence upon which to found a decree. If the old rule is not to be regarded in full force-that the bottomry holder must prove a necessity equal to the sum loaned, and that the master had no other resources than a bottomry loan to supply it-still, the doctrine has never been established, that the mere assertions of the master, oral or written, were sufficient to support a bottomry. All the mischiefs which the law has sedulously endeavored to restrain or counteract, as likely to result from the exercise of this extraordinary power by ship-masters, would be tolerated and encouraged if a bottomry bond was to be enforced in admiralty on the mere proof of its execution. The judge further remarked, that upon this ground he had refused to decree in behalf of the bond at the first hearing; but, upon the suggestion of the libellant, that he was taken by surprise, and wished an opportunity to furnish additional evidence, the cause was kept open for further proofs. That the new proofs offered by the libellant removed the difficulty only in part, as he proved no necessity for a bottomry, nor was it indeed shown, by his own clerks, that money to the amount secured by the bond had been advanced, or what, if any, maritime interest was reserved. The judge stated that he considered the true rule to be, that a bottomry holder must prove, by evidence extraneous of the bond, the existence of a necessity on the part of the vessel; and at least by bills and vouchers, if no higher evidence, the sums advanced by him; and, if the maritime interest is included in the face of the bond, and not designated by it, the rate of premium or interest exacted. That, in this case, there is no proof of the amount of marine interest reserved, the bond being taken for a gross sum; and that, upon all the circumstances in proof, the bond ought to operate only as a hypothecation of the vessel, for the amount actually required for her repair and outfit; and, as the testimony showed that the sum did not exceed $350, the decree was granted for that amount, with interest and costs, and the bond pronounced against as to the residue.

ACTION ON A CHARTER-PARTY.

Burgess vs. De Zaldo.-This was an action on a charter-party of the brig Virginia, from New York to Cuba and back, executed between the libellant (the owner) and the defendant. The agreed affreightment was $1,100, one-half of which was to be regarded earned and due on the discharge of the outward cargo, or the other half to be paid on the discharge of the homeward cargo. It was stipulated that the defendant should advance to the captain, at Havana, "sufficient for his sundry expenses" at that port. The outward cargo was safely delivered, and the defendant's correspondent at Havana paid the captain, from time to time, as he required money, the whole $550 due; $288 of which was applied to the necessities of the brig, $155 25 remitted the libellant, and $106 75 retained, and appropriated by the master. On the return of the vessel to this port, the owner set

tled with the master for the voyage, and took his promissory note for $200, due from him to the vessel, and discharged him from his command. The defendant shipped, for return cargo, a large quantity of cigars, (4,500,) and three quarter boxes of which were crushed and destroyed on the homeward voyage, by occasion of perils of the sea; and all the residue, with the exception of one quarter box, were safely delivered to the defendant. On the discharge of the vessel, one quarter box was found without mark, and was deposited in the public store; and the delivery was short of the contents of the bill of lading one quarter box, of a specified mark. The libellant claimed the recovery of the whole stipulated freight, less the $288 expended on the brig at Havana, and $155 25 paid him; and contended that the further payments to the captain were without authority, and the loss must be borne by the defendant. The defendant insisted that the charter contract had not been fulfilled, as the libellant failed to deliver at this port the cargo shipped on board at Havana; and that he was not bound to pay any freight without an entire delivery of the cargo. If the decision of the court should be against him on the general defence, he claimed credits for $550, paid at Havana; also, for the entry charges of the vessel, on her return to this port, and for $25 cash, paid the master here, on his return; and for the value of the cigars destroyed on the voyage, and the quarter box not delivered. The court (Judge Betts) decided that the charterer was not an insurer of the cargo, and that his contract was performed on his part by the delivery of the cargo in the condition it was on arrival here, as defendant was bound to bear all losses from perils of the sea; and that the transportation of the number of quarter boxes of cigars called for by the bill of lading satisfied the bill of lading, though one box was without the designated mark; it not appearing that any other person claimed it, or had laden on board similar boxes. The court farther decided, that the captain was appointed by the charter-party to receive at Havana money necessary for his expenses; and, independent of that, he was, by the law maritime, the agent of the owner in foreign ports, if no other one was specially appointed or designated, in respect to the reparations and supply of the vessel; and that the defendant rightfully paid to the master, on his requisition, at Havana, the sums claimed as credits, and was not answerable for their proper application by the master. The court farther decided, that if the payment of $25 to the master, in this port, by the defendant, was without authority, yet, as it had been in part applied in payment of the mate's wages, and as the libellant had not disavowed the payment to the defendant, and had subsequently settled with the master, and taken his obligation for the money, he had ratified the payment, and the defendant was entitled to credit therefor. Decree for the libellant, (after such allowances,) for $502 03-100, and costs.

LOAN-HYPOTHECATED STOCK.

In the Circuit Court, (New York.)—Farmers' Loan and Trust Company vs. Samuel B. Jewett. The company brings action to recover $8,000, being the amount of a loan in 1838, for which Mr. Jewett hypothecated 120 shares Southern Life Insurance and Trust Company stock, worth at the time $12,000. The loan, it is said, was on certificates of deposit, at one year's date, at 5 per centum interest, which were below par in the market. The obligation on which the suit is brought, is a promise to pay any deficiency after the sale of the stock at the broker's board, and to pay 7 per cent for the loan. This, it is contended, is usury. Also, that the company never offered the stock for sale, but let it run down in their hands. The non-sale was shown to be in accordance with the written request of Mr. J., who wished that it might not be sold, as it would be sacrificed. The stock, when first pledged, paid regular dividends. Verdict for plaintiff, $10,109; subject to the opinion of the Supreme Court.

COMMERCIAL STATISTICS.

COMMERCE AND NAVIGATION OF THE UNITED STATES.

THE Annual Report of the Secretary of the Treasury, communicating the annual statements of the commerce and navigation of the United States, for the last quarter of the calendar year, 1842, and the first two quarters of the year 1843, has been printed. It will be noticed that the present report embraces only nine months. This óccurs in consequence of an act passed August 26, 1842, changing the fiscal or commercial year, so that it will hereafter commence on the 1st day of July, and end on the 30th day of June of the succeeding year, instead of commencing on the 1st day of October, and ending on the 30th of September. The next annual report will, therefore, be complete for one year, (i. e., from July, 1843, to June 30th, 1844.) That report will be laid before Congress at its next session, and we see no reason why it should not be printed immediately thereafter; at least before the commencement of 1845. The importance of prompt information touching our commerce and navigation, is not properly appreciated, either by the department or the government printer. In Great Britain, the annual reports corresponding with our own, are made up to the 5th of January in each year, laid before Parliament, and published before the expiration of a week. The British government publish, in addition, quarterly reports. We receive, from our correspondent in Paris, the "Tableau General Du Commerce de la France," although a quarto volume, much larger than our treasurer's report, for the same year, long before the United States annual report reaches us from Washington. The acknowledged industry and efficiency of Mr. Spencer led us to hope that this delay would have been remedied; and we have no doubt that such would have been the case, had he continued in the department. We trust, however, that Mr. Bibb, the new secretary, will take the matter in hand; as the chief value of these documents, to the great commercial interests of the country, consists in their prompt and early publication.

In accordance with our custom, we now proceed to lay before our readers a summary and tabular view of the commerce and navigation of the United States, as derived from the annual report before us. From this report, it appears that the exports during the nine months ending 30th June, 1843, have amounted to $84,346,480; of which $77,793,783 were of domestic, and $6,552,697 of foreign articles. Of domestic articles, $60,107,819 were exported in American vessels, and $17,685,964 in foreign vessels. Of the foreign articles, $4,945,817 were exported in American vessels, and $1,606,880 in foreign vessels. The imports during the nine months ending the 30th June, 1843, have amounted to $64,753,799; of which there were imported in American vessels $49,971,875, and in foreign vessels $14,781,924. 1,143,523 tons of American shipping entered, and 1,268,083 tons cleared, from the ports of the United States. 534,752 tons of foreign shipping entered, and 523,949 tons cleared, during the same period.

The registered tonnage, as collected in the register's office, is stated at...
The enrolled and licensed tonnage, at.......
And fishing vessels, at.......

1,009,305.01

1,076,155.59

73,142.33

Tons,.........

2,158,602.93

Of registered and enrolled tonnage, amounting, as before stated, to.....
There were employed in the whale fishery,.

2,085,460.60

153,374.86

The total tonnage of shipping built in the United States, during the nine months ending on the 30th June, 1843, viz:

DOMESTIC EXPORTS OF THE UNITED STATES.

Summary statement of the value of the Exports, of the growth, produce, and manufac-
ture of the United States, during the nine months commencing on the 1st day of Oc-
tober, 1842, and ending on the 30th day of June, 1843.

VALUE OF THE DOMESTIC EXPORTS OF THE UNITED STATES, IN AMERICAN AND FOREIGN VES

SELS, TO EACH FOREIGN COUNTRY AND POWER.

The following table exhibits the value of the goods, wares, and merchandise, of the growth, produce, and manufacture of the United States, exported from the United States; distinguishing the value in American and foreign vessels, and also the value exported to each foreign country, and to the dominions of each power, for the three quarters ending 30th of June, 1843: