Exchange Bank of St. Louis v. Rice

The plaintiffs in this action seek to recover the amount of a bill of exchange for $3300. The material facts appearing by the report of the judge before whom (a trial by jury having been waived) the case was tried in the superior court are as follows:

The bill was drawn by John P. Hill at St. Louis on the 8th of March 1865 upon the defendants at Boston, “ against twelve bales of cotton,” (as was stated in a memorandum at the foot of the bill,) and payable in thirty days from date to the order of Pitman & Co., and on the day of its date was discounted by the plaintiffs and indorsed to them by…