New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-07-19

MAILING rcssie Of. .......,......oI, '''@I %
The entire balance due for the work Of construction viii
be- pad durn the present year and may De- efDe'tsd
that siment will be- pad tothe holders oi In" ssoJOO
loan account of principal on the lst July so lhs
statements submitted shoE that there will remain on hand
after The completion Of the Canal quantity of land sa-
IN paw o thu whole amount Of that loan and esvss
considerable surplus
tn. STATE Debt Act contained special provision in
card 10 the payment of tn interest the certt es OF
Canal Stock issued Tor original Wabash and krs Canal
BONDS
state n. OF Ohio org nay pledged for the rodemP
ton the principal and interest of the bonds suad for
ion. known WABASH anc Erie Canal BOnds)
snd the object of tho provision o the ACT was 10 protect
that pledge the hand, and reduce in amount On
the anal on the other The stock issued tor t class OF
hon always been kept separate and distinct from
for other bonds OF the state IN compliance with
the ac'.
Tie Tn tees were however unwilling 10 recognize any
liability a. pay interest this class OF ceraeate' until
the Caual completed and paid t but the holders 81
uch cesf6 Issued for original absh and Erie canal
Bonds so called insist that by virtue Of the provisions Of
the Act the Trustees have discretion but bound To
amply the received by them from that portion
the Canal between lafayette inclusive aud the OHIO
State line to the payment Ut the Interest on That ciAss ID
certificates rom and After the lst Of January l')j As
there seemed be for doubt the subject,
the Trustees anxious 10 take such course ~ should
best carry into elect the Intention of the Legislature they
therefore deemed proper a. vel tor thef own security
AS the subtraction Of oOudhodsr 10 Obtain ths decs
ion Supreme Court of Indiana as TO the prop con
.iTuoon Of The Act aud they accordingly csoped the oI
~
Board
1der,f That no payment II interest he made the
IL Juy 3 on Certificates Of Canal Stock issued iDr Or
gna Wabash and Ers Canal Bon9' nor und A Judicial
cnifucoG be- obiasd The powers and duties Of tbs
Trustees IN respect 10 the same
lis proper that demand for Interest due on ihe
tuy instant has been made by holders Of this otgs Of
cetiicaes which wa refused under the order of ths
Board and that n Consequence approaching has been d.
rected 20 instituted against the Trustees by ons Il the
large holders by mandamus in the Courts Of Indiana and
il expected that tbs final decision q The Court ~ % the
cu,y Of the Trustees will BIZ rendered pnjr to the st Of
January next
II election Of Trustees On The part n .ub'cribng Bond
holder was held 10 pursuance Of notice on the t April
-' majority number and value being present n per
ION ar By proxy, and the und-r gnec and Inoms Dow
Inc FsG Of 1-rre liaue, were unanimously reesoted
I'm tees BENJAMIN EdunsfOn, 0f Indiana was, during
heIa.t session OF tie Legislature elected State rustes 10
succeed DR. Nonger the present incGmb snt = toe close
Of the present year
In The next annual report u me Trustees they will 10
able 10 a,e with accuracy The total cost - the entire line
of Canal including the amount sxpenced ~ RE state 10
fore Il came into the hAEis Of the TRUSTEES. Respectfully
CHAAlLs BCTLEn Prest Board II 'truesiees,
W t. h. CAnI.
T1r Abaly Ereaiug Journal u yesterday says
The Only new feature presented by the tide water r.
cepis tbs week j. decrease in the receipts 81 "hsat
compared nth those for corresponding week last seAson
Tie aefcieucy ~ -four Il equal % 2j-,o-i bois.
The receipts a, Tide Of four wheat corn and bar
lev for the ID week Of July in i53 ard isj2 have been
g.