Four Hundred & Six Hogsheads of Molasses

NELSON. Circuit Justice.

It is quite clear that the purchase of the molasses by the firm of T. R. Gordon & Co., at Matanzas, was not absolute, so as to vest the title, legal or beneficial, in it; and that the transfer of title depended upon the payment of the drafts at New York. The molasses was shipped in the name of the vendors, and bills of lading were taken in the usual way, and the bills of lading, drafts, &c., were forwarded to their correspondents, to close the transaction. Reid & Nash advanced the purchase money, on the security of the bills of lading, and the cargo of molasses became…