The Evansville journal. (Evansville, Ind.) 1834-184?, 1847-01-07

also failed last night, and we are consequent
ly without news from any quarter. We have
received nothing from our indianapolis cor
respondent for ten days, except the amend
ed Bill to provide for the funded debt, and
TO complete The canal, of which The follow
ing is brief synopsis:
SECTION LIST. Out standing bonds TO be
surrendered and certificates issued in ex-
change for the principal and the form of the
certificates. according to the 32d section oil
the original Bill, VIZ: on State and onl
Canal
I'd. Certificates 10 be issued for arrears
of interest and the form of them-t Canal
and l State-the latter TO draw q per cent
of interest after 1853.
3D.. Interest on State certificates from
lls47 to 1853, how paG.
4th. Interest on Canal certificates how
to be paid.
5th. Interest on State certificates TO be
paid only on certificates registered during
the previous half year.
| 9th. Bondholders not subscribing or ex-
changhing their Bonds ill after lst August,
AT, to have a certificate for interest then
due, but not money.
|. 7th. Surplus of Taxation to be applied
TO the redemption of Treasury notes.
7 9Th. Bonds 10 be surrendered of not less
! amount than $4,OO0,000 and subscription
for Canal to be not less than 20 per cent or
100000
Time for subscription of 500, 900 dollars,
, extended 10 lst May and for the surrender OF
| 100000 Bonds TO lst July, aud further
time given to Bondholders 10 come in and
become subscribers till Isl August, lS47,
and for such last named persons TO surren-
1 der their Bonds by Isl October. AZ.
9th. Public notice 10 be given TO Bond
holders in Europe and United States 10 sub
scribe on or before lst August, AZ and ex
u change their Bonds.
S 10Th. Bondholders who subscribe by Isl
IS August and pay deposiie of 5 per cent. OF
!. their Bonds shall be entitled TO priority on
of The Canal part secured by the act; afe
is The lst August no one allowed TO subscribe
Re 10 The canal-No one prevented howeve
,oI from surrendering at any time under the &C
and receiving all The benefits oil the aci ex
cepi the privilege ofsubscribing.
18th. Act to take effect when 4,000,00'
~ Bonds subscribed and notice thereof given
o I and unless 100000 is subscribed by the
~ of May, AT, and 5 per centage paid tn
:, . amended act and former act to be void
18th. The 9Th Section of existing az
amended as 10 priority in payment out of III
: Canal property and the only difference
he that subscribers TO the Canal are TO be fir:
lie paid the principal of their Canal Bonds b.
re fore non-subscribers-
be allowed for the difference between an
8 per cent.-and also that all Sterling bono
- be exchanged into our currency at so penc
lie. per dollar.
18th. Defines the mode in which Bono
holders shall elect their 2 trustees wiz
nd public meeting convened in N. York by motto
p. by The cote of a majority in number and pa
nd nc of the subscribers
81 18th. How new Trustees TO be appointe
in case Of death, misconduct, &C., and give
us Bondholders power 10 remove their trustee
"a or either at any time for misconduct and
fill his place.
>. 18th. Bondholders to have the right f
the greater security ofthe Trust moneys, j
III the same manner at such meeting TO appoir
We the Bank or institution where The Trustee
VS. shall deposit Trust monies.
ID 18th. All moneys to be kept in such plac
of Deposit, and be secured from auachmer
y or division excep, for the object of the Trus
IS 18th. To inc rease public confidence th
trust is TO remain inviolate, and the propert
m Of foreigners invested in it is to descend L
v. their heirs according 10 the laws of The cour
Z" try in which they live.
18th. Provides that Bonds retired by tn
~ State shall not be re-ssed, but the State
as nevertheless entitled TO draw The dividend
D. from the Canal Oh them the same as if bel
by an individual.
i. 10Th. Requires the trustees 10 give pull
- lie notice Of call on the Canal subscrpiio
to prevent mistakes and legal diffic uliies be
fore forfeiling the previous payments of sui
scribers.
20lh. Allows further time to finish th
'",s Canal in case Of unavoidable delay, occa:
= Toned by the ACT of God &c, &c.
T. 2lst. Requires maps, plans, surveys an
:! schedules, olihe property granted to be flu
nished, so as 10 identify the property embt;
:, ced in The trust.
22d. Bondholders to have the power
pn inspect record of proceedings of Trustees
" the same as the State, and Trustees TO rel
=, der half yearly accounts 10 subscribers.
q 23d. Modifes present acl and gives powe
TO majority of trustees TO make sales and col
veyances of the land.
~ 24ih. Contains sundry merely technic
/, amendments TO different sections complet
30 according to their true intent and meaning
FIVI a. IL