Alexandria Advertiser And Commercial Intelligencer

On Wednesday last, an important cause was decided before the Supreme Court, now sitting in N. York, between the Underwriters and the owners of the ship Pegasus, Capt. Liscomb, condemned some time since in Peru by the Spaniards. This trial was a very interesting one, and engaged all the talents of the most respectable gentlemen of our Bar. The defence made by the underwriters was grounded upon a clause in their policy which exempts them from all charge, damage, or loss which may arise in consequence of a seizure for or on account of any illicit or prohibited trade. The trial lasted seven days. The Jury was composed of some of our most respectable merchants. The circumstance of illicit trade, being fully and satisfactorily proved to them, they returned a verdict in favor of the Underwriters, without a dissenting voice.