The Sun.
London, England, 1866-12-01 00:00:00

ATLANTIC AND GREAT WESTERN.

An objection having bean taken early in the spring of
this year to the legality of the Act of Consolidation of the
Atlantic and Great Western Railroad, and a verdict against
the Company being obtained at nisi Arius, which verdict
was reversed on June 29th, on appeal to a higher court;
it is with great satisfaction that we are now able to state
that the question is finally sot at rest by the decision of the
Supreme Court of Pennsylvania, delivered at Pittsburgh
on the 18th ult., by Chief Justice Wcodward. In giving
the judgment, which the learned Chief Justice did at con-
siderable length, he says :
"Having decided in the quo warranty sued out by the
Attorney-General against the Atlantic and Great Western
Railway Company, that the agreement and Act of Conso-
lidation, bearing date the 19th of August, 1865, and
entered into by the several railway companies therein
named, was a valid and legal instrument which, upon being
filed with the Secretary of State, in pursuance of the pro-
visions of the Act of Assembly of 24th of March, 1865,
constituted the said Atlantic and Groat Western Railway
Company a body corporate within the commonwealth of
Pennsylvania, it is neither necessary nor proper nowi at
the snit of private parties, to enter again into the question
of the corporate existence, de jure, of the said Railway
Company. Having been called upon by the proper repre-
sentative of the supreme power of the State to show by
what authority it claims and exercises corporate franchises ;
and such title as it exhibited having been sanctioned and
approved by this Court, not only all private parties, but
the State itself, is concluded thereby ; and henceforth it
is to be taken and regarded as a railroad company, created
by, and existing under, the laws of the commonwealth."
In conclusion, he observes—" And now, whilst a mul-
titude of subjects that were pressed into the argument of
the present case have been pretermitted, wo have passed

judgment upon all the questions raised by the assignment
of errors, and have thus sufficiently explained and justi-
fied the grounds of the decree which we entered at our
adjourned term, at Wilkesbarre, in June last.
"If any point in that decree need further explanation
it hasreference to Scott, whose bill was dismissed, not only
because, as a private suitor, he had no right to question the
corporate existence of the Atlantic and Great Western
Railway Company, but because he is really not a .Stock-
holder in the consolidated company, and therefore had no
right to file a Stockholder's bill.

"It appears that he was the owner of twelve shares of
the capital stock of the original Pennsylvania corporation,
under the name of the Great Western Railroad Compaq
of Pennsylvania. As such he had a right under the
eighth section of the Consolidation Act of 24th March,
1865, to convert his stock into the stock of the consolidated
company, or to have an appraisement male of its value,
and to be paid his damages or the value of his stock. But
having never converted his stock into that of the consoli-
dated company, he has no footing in court for a stock-
holder's bill against the said Company ; and, therefore, his
bill was dismissed."

TRAFFIC RETURNS FOR OCTOBER.
Miles open. 1866. 1865. Increase. Decrease.
$
Erie
ERRATUM.—In our last we inadvertently reversed the
Illinois Central traffic receipts for the years 1865 and 1866;
the latter year should have shown an increase over 1865,
instead of a decrease of $2,394.

We have to report a large amount of business in United
States Government Bonds in the London Market during
the past week. At one time tho 5-20 Bonds of the 1862
issue were quoted to as high as 704 to 71, but from this
point there has been a reaction, owing to higherpremium on
Gold in New York for the last two or three day; and they
close 69 to 701, or about a quarter per cent. under quota-
tions of this day week.

The 1865 issue, after touching 70, remain without al-
teration, viz., 691 tol ; they, as well as the 1864 issue, are
now officially quoted in the Stock Exchange Daily List.
Railroad Shares on lower quotations from New York have
declined two per cent. Illinois Central have been almost
a dead letter, but in Eries there have been some pur-
chasers at the reduced rates, to fill " bear " accounts. At-
lantic and Great Western Debentures are one per cent.
lower, and the Consolidated Bonds, after being quoted 431
to 44, close 401 to 41.
OFFICIAL TRANSACTIONS FOR TILE WEEK.—United States
6 per Cent.s.2o Bonds, 1882: Thursday, 701 1 70 /; Friday,
70/ 1 ; Saturday, 701 / ; Monday, 701 / ; Tuesday,
701 / / 4 ; Wednesday, 70 691. Virginia 5 per Cent. Sterling
Bonds : Thursday, —. Virginia 6 per Cent. Dollar
Bonds: Thursday, —; Friday, —; Saturday, —; Tuesday,
—; Wednesday, 69. Atlan. and Gt. Westn. (N. Y. Sect.) ist
Mrt. Bonds, 188( : Friday, —; Monday, —; WednesdaY,
tlan. and Gt. Westn. 2nd Mrt. Bonds, 1881:
Friday, 73 ; Monday, —. Atlan. and Gt. Westn. (Penns.
Sect.) lst Mort Bonds, 1877: Thursday, —; Friday, —;
Wednesday, —. Atlantic and Great Western (Pennsyl-
vanian Section) 2nd Mrt. Bonds, 1882: Thursday,
Saturday, —; Wednesday, —. Atlan. and Great
Western Consolidated Bonds, 1895; Thursday, 481 41 31;
Friday, 431 / 43/ 13 ; Saturday, 4212311 ; Monday, 41/ 2114;
Tuesday, 41/ 2/ 11 ; Wednesday, 41 / 401. Erie Shares,
$lOO, all paid: Thursday, ; Friday, 50 ; Satur-
day, 481 8 ; Monday, 48 71 ; Tuesday, 48 71 ; WednesdaY
4717. Erie Shares, 6 percent. Convertible Bonds : Thursday,
684; Monday, —; Tuesday, —; Wednesday, —. Illinois
Central 6 per Cent. Bonds of 1875: Thursday,
Tuesday, —. Illinois Central 7 per Cent. Bonds
of 1875 : Thursday, ; Monday, 671 ; Toes
day, 67/. Illinois Central Shares, all paid : Thursday,
78/ ; Friday, 78/ ; Saturday, ; Monday 77i ;
Tuesday, 77/; Wednesday, —. Michigan Central 8
per cent. Convertible, 1869: Thursday, —. Panama Rail-
road, 2nd Mort. 7 per cent, 1865: Friday, —. Philadelphia
and Erie First Mortgage, 1881: Thursday, 75 ; Fri-
day, 75 ; Monday, ; Wednesday, —. Philadelphia
and Erie First Mortgage, 1881, with option to be paid in
Philadelphia: Friday, —; Wednesday, 74. Pennsylvania
Second Mortgage Sterling Bonds, 1875: Monday, —•

(Glenn and Co.'s Weekly Circular.)
LONDON, Nov. 60•
The market for American securities in London for the
last week has been active, and a large business has bees
transacted, but there has been no advance ; and, on the
week, 5.20's at 70; are I per cent. lower; Eries at 46 are 4
per cent. lower ; and Illinois Central at 77 are 11 Per
cont. below what they were this day week ; while Atlantic
and Great Western Certificates have fallen 5 per cent';
the Consolidated Bonds are firm at 40 to 41. As the
American Congress meet on Monday next, American secu-
rities will very soon unquestionably be influenced, either
up or down, by its action and policy. Yesterday being
Thanksgiving Day in Americ:,,, there are no quotations
from New York by Atlantic Telegraph this morning. The
closing price for gold, November 28th, was 14li.

COUNTRY MARKETS.

IVAKEFIELD.-PuiDAY.

Wheat is is to 2s lower than on Friday last, but saleo
are not pressed to any extent. Barley met with a slow
trade, and prices is lower. In beans and oats there WAS
bo material alteration.