New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-03-16


Total.
The following Gales Of Stocks were made at auction by
A. H. Muller;
sisOO Desyse, Lsctswsnna and Western R. R..'..". 90
40 Mercantile Mutesl Marine lbs 80
zoo .bsIss avery SEWING Machine Co ............ 60
Albert H. NicoIoys sale of Stocks aud Bonds will take
place at i2I ocock at the Merchants Exchange
The steamer from Boston day takes 100000 in gold
bars for France leading house in this City ships gold
TO France apparently without any regard to the rate of
Exchange.
The Cleveland and Toledo Railroad has declared semi
annual dividend Of cent payable ia cash on the 9Th
April Holders Of stock in the individual roads composing
this line must present them for certificates before re-
eeving their divdonds
The receipts this road for the first two weeks Of the
present month about $4,000
The annual dividend on the Mad River Road viii, We
understand, be 10 y cent. payable in stock or bonds
which, Is not yet decided
The annual meeting of the Illinois Central Railroad was
held to day which the old officers reelected Wis
VIM T. Burial President David A. Neal, Vice President;
NIB Edgar Treasurer; j. f. Bunce Secretary The three
Directors Mtsrs Burial Ketchum and Schuyler-whoso
terms Of Office expired, reelected for four years
The Money market in the street is easier odsy, with
very active demand at y cent The Banks are not dis
posed expsnd and accommodate their customers Pang
E Paper goes at 500 cent for fret class Railroad
acceptances lOal2 cent The movement Of specie to
the South and West is for the present checked
The increased receipts the Norwich and Worcester
Road in February, compared with the month last
year was $50 instead of sl42O printed yesterday
In reply to the legal opinion upon the validity of the
charter of the Mississippi and Atlantic Railroad published
yesterday we have received the annexed communication
from Mr. Brough, the President Of that road
To ass Editor Of The N " Tribune
SIN; In your paper of yesterday observed opinion
of persons who are styled distinguished urists Of IL
nois in relation TO the validity of an Act of the Legs
lature Of that State recognizing and authorizing the
struction of the Mississippi and Atlantic Railroad to
which, happening to be in the City, offer you brief
reply.
validity Of the organization Of the company formed
under the general railroad law and assuming that this
has been satisfactorily proved the distinguished urs
argue that twas not the call of the Governor
for the extra session. and therefore not within the ur
dicon of the Legislature short 20 this which
strikes out it's whole foundation is that at the time this
session called, this Corporation had actual err
isesoe such and had exercised the franchises belong
ing such Corporation for than three years and
had been recognized as such by the Courts Of Illinois
IL Corporation De faeto not de jare and existed
well by right, by the acquiescence of the sovereign
power. II formed. and into existence under
ton and the very object stated by the Governor of
cognzing those Corporations so formed evidenced his
intention to authorize the Legislature to heal defects in
their Organization, If any there might be.
This question fully discussed In both branches of
the Legislature and after the objection had been argued
the bill passed the House Of Representatives by of
o. TO lc ana the senate Dy q vote OF 10 10 & and
ceved the signature of the Governor who issued the pro-
clamation Among the members of both Houses voting
for the bill not less than fifteen twenty prominent
and able lawyers Of that State The objection was also
examined and opinions have been given by number of
legal gentlemen, at least distinguished" as these
" jurists," among whom l may name Judge Trumbull
late Justice of the Supreme Court of Eois and Judge
o. IL Smith Of Indiana. This shows the opinion of the
legal profession in and out Of the Legislature and the
sanction Of the Governor proves the bill to have been
within the intention Of the proclamation issued by him
g. BY the terms OF the law enacted the company, as
ormed Is declared 10 be vad and subsisEag corpora
ton and fully invested with kll the requisite powers
or the construction of its road.
T. The assumed defect in the organizsi ion does no.
xist The powers exercised and clGmed by this corpo
alton have been repeatedly brought Before the Courts of
illinois fully presenting in each the form OF its organ
zson and its legality has not beeu questioned. No
ueson can, with FEASIBILITY be raised against t. The
squise nRnber Of subscribers attest the articles of
ssocistoa the amoun, required by law u be subscribed
the capital stock was obtained the ten per cent
aid In, the evidence Of subscription Of stock and pay
ent Of the ten per cent furnished reqgired by the
atute the articles duly fled and the corporation
ereupon organized In form and In substance the stat
o was complied with and il was valid corporation
hou the aid ofthe late enactment which has re neded
defects. il any there
The object aud origin Of the publications in the City
pers can be readily perceived. do not design to fol-
the parties who, 10 subserye hostile onds Of their
70, seeking TO bring this matter into yspsper dis
sson in this City but repeat the challenge heretofore
de TO them TO raise the question at once upon agreed
,e. and for immediate adjudication by the highest Court
Illinois. where, II there can be any question q. al the
,ject properly belongs.
Under the full and perfec. authority conferred by the
gsature Of Illinois, the construction of this roSe will
prosecuted with energy and 1t viii be completed a. G
ly as practicable. We prepared for opposition in
and every form IL may assume Future events viii y
W s actors and purposes more fully and il it yocois 81