Decision against the Government in the case of the Indian trust bonds,
--In the United States District Court for the Southern district of New York, on Saturday last, Judge Smalley
delivered an oral opinion in the case of the United States
against Goddard Bailey
, and the Bank of the Republic and others.--The Government in this case sought to compel the defendants to deliver such of the stolen bonds as they might have in their possession.
The parties who were thus proceeded against was the Bank of the Republic; Clark
& Co.; Thompson Brothers, and Richard Schell
decided that the bonds in question were negotiable, and were negotiated in the regular course of business.
All parties who had received them in good faith, and without notice of their abstraction, were bona fide
holders, and could not be called upon to deliver them up except in due course of redemption.
The temporary injunctions obtained by the Government
were therefore all vacated.