The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-11-28

SATURDAY, Nov. 2s-6 PM
Tho stock market not very buoyant to-day. There
considerable activity at the first board and the de-
msrd continued brisk to the close Erie Bonds 1871,
declined 4 per cent; Edgeworth q; Canton Company
j; Nicaragua Transit, Il; Cumberland Coal Company,
n Hudson Railroad Bonds FIRST mortgage, advanced 4
Per cent; Dauphin Coal Company, 4; Hudson Railroad,
n At the second board nearly every stock the list
depressed and the market closed heavy Nicaragua
Transit declined 4 per cent; Cary Improvement CON-
pany, q; Canton Company q; Erie Railroad, q; Long
Island Railroad, u.
The Nicaragua Transit Company have obtained the
opinion Of three eminent lawyers Of this city in relation
to its charter and the legality of Mr. Marcoletas claim,
arbitrator for the Of Nicaragua For the
purpose Of enabling those interested judge
recty Of the merits Of this opinion give 1t at length
NICARAGUA TRANSIT COMPANY
To the President and Directors of the Accessory Transit
Company Of Nicaragua
GEsTLTMEN-In answer to your communication of
the ed instant the undersigned beg leave to say that
they have examined the charter and act OF incorpo
ration Of the American Atlantic and Pacific Steam
granted BY the State Of Nicaragua to the Accessory
Transit Company and also the decree Of the g Dr.
rector of the State Of Nicaragua" dated the 9th Of
correspondence with the Transit Company and promising
that Mr. Marcoeta has not exhibited to the company
any special instructions authority from his govern
nsn other than the decree before referred TO- Of
opinion in answer to first question, that Mr. Mar
vested with competent authority BY virtue Of said de-
to appoint commissioners under the thirty third
section Of the charter for adjusting disputes in contro
versies between the company and the government Of
Nicaragua.
further Of opinion, in answer to your second
question that the said company not forfeited its
charter by refusal to appoint commissioners on the re-
QUESTION Of Mr. Aarcolefa
In answer to the third question, We think that the
correspondence, Published by Mr. Marcoleta, between
himself and the company does not show refusal on the
part OF the latter to sppont commissioners under the
fest that the company merely required to be satisfied
to the powers Mr. Marcoeta to appoint commissioners
on behalf Of the government.
Of Commissioners ought to be perfect in respect to the
government, as well as in respect to the company. II
such authority did exist and the award should
be in any respect unsatisfactory to Nicaragua 1t might
be repudated by that government.
" 20 and
considered It, we can come to other conclusion than
that the State Of Nicaragua not at this time represent
In the United States by Envoy Extraordinary and
Minister PlenipotentaYy On the contrary, when that
State together with the States Of Honduras and San Sal
vsdor formed relation under the name Of the Co
Of the National Representation charged with
the conduct and agement of all foreign affairs the
functions Of Nit MsTooea rs the ~ 81 MICA
then represented became merged 30 far as its foreign
affairs concerned in the new confederation and new
government Of the & National Representation
This Ia familiar law, and instances Of like kind have
not upfrequenty occurred in practice. The union be-
tween Scotland and England Is one and that between
Texas and the United States is another
Nicaragua. by her own consent became incorporated
In union with Honduras and San Salvador. Although
each Of thsse States may have Its laws and
its executive legislative and Judicial departments,
for the of its domestic concerns yet
quite clear that the sovereignty Of EACH 30 far as
foreign nations concerned became merged by the act
Of union and for all practical purposes, completely
ttnguished We therefore, concde that Nicaragua has
not at this time any national representative Ia this
country.
CHARLES O'CON0R.
FB CUTTING,
J. PRESCOTT HALL
by the arrival Of the steamship Prometheus from San
Juan have eleven days later intelligence from CALI
forna. The steamship California left San Francisco on
the LIST Of November, for Panama, with two Millions six
hundred and fortythrc thousand eight hundred and
thirty dollars in gold dust freight This the
largest sum shipped from that port In vessel
The commercial accounts from California continue favor
able. Nothing Of much Importance had transpred In
San Francsco, since the departure Of the previous
steamer.
The receipts 1t the Office Of tho Assistant Treasurer Of
this port to-day, amounted TO sao637 OIL payments,
$el,361 48-balance, $5,874243 Il.
The importatons into this port to-day (Noy 27) nav.
been annexed:-
Goal -
..., -"w shs; dyswood 80 ton. lsswood; dyes, 10.
.. u0on,nssi % barrels indigo drugs, 80 bsrrois
sA'e.A' nuit, 600 cocoanuts; Hsh, 81 sarf.As s.,.
mon In barrels macksrel IS half barrel, 40 oos
per-'rg; grl'ni i,0s0 bushels oa.s, Ia. 49, a.