The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-11-27

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There has been but very little dsing In these sscuri
ties within the past month and prices have experienced
but very little alteration Government SKIES old stock
have been arm quotations. and the stock has
been sold In small amounts OF and half per cent
premium
Congress the It'll of December about ten
days hence, when we expect some important changes
will be commenced in those things affecting poti-
cal and commercial relations It is anticipated by many
that the al policy of the Government win be
di6ed that the specie provisions Of the Independent
treasury bill will be repealed, materially altered
In consequence Of this there 10 very little disposi
ton exhibited to enter into any stock transac-
tons, particularly those Of fancy character
We do not agree with those who anticipate tho
slightest change in the leading features Of the indie
pendent treasury BILL That system has not yet gone
into operation, un1er the b and with majorities in
both houses of Congress- similar those of the
son it'll the head to the government have
the slightest idea that will be modified in any shape
any Of its restrictions be reduced.
According to the Independent Treasury BILL passed at
the last session Of Congress- the specie clause will be
forced on and after the rst of January and the party in
Congress having the majority Is the last that would
abandon the system adopted for the regulation of the
finances ofthe government not only from the fact thatit
has not yet been tried thoroughly, but because Is
of the leading principles of the party and very
important point of the democratic creed We believe
that the bill will not only 60 into operation IN it,
present FORM but believe its provisions viii be
thoroughly enforced.
The of Letson and Rutter the Chesapeake &
Ohio Canal Company, which has occupied the United
STATES Circuit Court, at Baltimore for days. has
been disposed Of
was an action for damages, laid in the sum Of
$4,000 o0 brought by the plaintiffs against the Canal
Company the following grounds ION the 4th of
May ls4, the directors the company passed esolu
tiol, authorisng the completion of their works. and
asking for proposals therefor Messs Letson and Rut
ter made proposals. which the 18th Of May &C
CO ,ted by Gen. M'Ne the then President Of the CON-
pany At the meeting Of the directors Of the com
pany the 9th of june the contract entered into by
Gsn. M Neil with Messrs Letson and Rutter, was de-
eli led by the mpsny; and an advertisement, the
manner in which the proposals would BE- received pub
lshed.
In accordance with these terms, az made knswn by
this yertisemen Messrs Leson and Rutter made new
proposals. which were accepted BY Gsn M'Nsil, and
fully ratihed by him he possessing himself of the seal Il
the company, and afxing it to the contrsctall this
being done without the knowledge, or previously OBJ
tuned of the board of directors TAis contract
was ratified the 18th of July, ls4s and Messrs Let
soa & Rutter commenced operations Immediately. On
the Goth of July days aft the contract rati
fed by Gen. MNeil, the board Of directors met, and
passed resolution, declaring that Gen. M'Nen had
power vested in him make the contract and that It
was null and void at the same time giving Messrs
Letson Rutter notice to discontinue their operations
On the part of the plaintiff it commended that the
resolutions and passed by the Board Of Directors,
gave the President authority to make the contract
if that authority not vested in him by virtue Of his
oA;c nd that here tha yv0s
m ade and binding the company, and that the con-
tractors entitled to full damage for its violation
On the part Of the company this state Of facts de-
ned and contended that, this contract not
such occurred in the ordinary and every business
of company, but of paramount Importance the
president had power vested in him to conclude It
without the consent and appreciation Of the board Of dr.
rectors.
The opinion of the court was delivered by Chief
tce Tsney and in favor of the defendants, dscar
ing he records Of the proceedings show that there
had been previous authority vested in Gen. Mcneil.
president of tho company to enter into the contracts
and the said contract disavowsd with all due dill
gence by the directors at their meeting the goth OF
July, ls43 that therefore the said instrument not
the deed Of the company and null and void and Of
no effect
The counsel for the plaintiffs gave notice to the cour
tina. was their intention Hle bill Of exceptions to
the opinion OF the court, after which the jury were car
ed and rendered a verdict Cor the defendant
The Baltimore and Ohio Railroad Company have ad-
vertised for loan of hundred and ninety thousand
liars for which the csr6cat Of the company will be
issued bearing an interest Of six per cent able
ery on The LIST days Of January April July and Octo
r. in each year. the city of Baltimore clear Of all
IA coz and hereafter be impossdsor
ses,ed by the Of Mary land the city Of Bslt
mors-the loan be redeemsble the day Of Janu
ary, 1877.
This loan is for the purpos, Of the reconstruction Of
portion Of the present track Of the main STEM and
cured by mortgage Of all the real personal proper.
ty belonging to the company.
Noproposa at less than par for less than $780,
will be considered.
Married..