New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-04-08


but the market appears TO be assuming more healthy
tone. and we do not look for further decline at
present.
We are q. this date April y buying and selling 6
follows:
s...d iso-..................".s1@ tII
:: .1d 10. Is is
We hear Of about $500, 900 in gold going TO Boston
for the steamer
The business Of the Clearing Hou.e to day was
s25, $4,000
We hear that all the Boston Banks have joined the
Clearing house in that city. Three of them had been
standing out.
ne.ton signed by the largest stockholders of the
Cleveland. Columbus and Cincinnati Railroad Com
sany went forward to-day, asking that meeting Of
stockholders be called to consider the question OF the
refusal Of the directors to pay the interest the guar
anteed bonds Of the Columbus, Piqua, and Indiana
Company. and to take measures 10 obtain act OF
the legislature TO egalize the guarantee. We annex
an opinion upon this question given by two leading
legal authorities in 0hio-Judge Andrews and Mr.. +.
T. Backus:
NJ g. MITCHELL ESQ., President Columbus, Piqua and Ind
SIR-We have be:n requested TO give an opinion az
10 the validity Of tbe Endorsement made by the Ceve
land. Columbus and Cincinnati Railroad Company Of
be Sd Mortgage Bohs to the amount of some sioO 200
of the Columbus, Pig, and Indiana Railroad Company
We understand such Hdorsement to have been made
urder the following circumstances:
The guage Of the Cleveland, Columbus aud Cncin-
natl Road four feet tenuches that of the Columbus
Pioua and Indiana Road y but four feet eight aud
half inches. The latter Company claimed to have an
arrangement with the indianapolis and Beefontaine
Company by which the latt>r was compelled to adopt
the euage of the Columbus, Piqua and Indiana Road.
All the Companies including the Belefontane and In
h.p ,ecfln
was finally agreed between then that the guage OF the
Cleveland, Columbus and Cininnat Road should be
adopted, and that consideration for the change OF
its track and machinery and tie REIMBURSEMENT OF its
claims upon the Indianapolis md Bellefontsne Com
pany the other three Companis agreed to ndorse the
Bonds of the Columbus, Piquaa and Indiana Company
to the amount above stated.
We are further informed that in pursuance of the
above arrangement the litigation then pending in the
premises has been stopped The ,osts paid and the in
dorseInent in question made blythe three Companies.
From the above statement it il evident that there
be question az to the suicency of the consid-
Grafton received by the three Companies respectively
for such udorsement Is there any 20 their power
Whatever might be the conclusion to which we
should come respecting the powc- OF the corporations
to Go that which natural persons coud, without asy
questions do in like circumstances, he legislation OF
our State has been such TO free the question now
under consideration from all doubt by the 4h section
of the Act of March B. 1851 entitled An Act relating
to Railroad Companies, Ohio Laws, VOL 40, p &C., i
provided that any Railroad Company heretofore or
hereafter incorporated may at any tlle by means OF
subscription TO the capital stock of any other Com
papy or otherwise aid such Company in the construc-
lion of its Railroad for the purpose OF frmng connec
ton Of said last mentioned Road Owned by the Com
pany furnishing said aid or any Railroad Company
organized in pursuance of law, may have or pur-
chase any part, or al, of any RailrOad constructed
by any other Company if said Conpany's line of
road ere continuous or connected as aforesaid, upon
such terms and conditions as may agreed
between said Companies respectively, or any
two or more Railroad Companies whose lines are
connected, may enter into any agreement for their
common benefit consistent with aud calculated to pro-
mote the object for which they were created provided
that no such aid shall be furnished any such pur
chase, lease or arrangement perfectedun a meeting
of the Stockholders OF each of said Companies shall
have been called by the Directors thereof at such time
and place, and in such manner as they hall designate,
and the holders of at least two thirds of the stock of
such Company represented at such netting in person
or by proxy, aud voting thereat shall have assented
theretO.
BY the 9th section of the oct passed May B. 1852,
entitled "An Act to provide for the CREATION and re-
aulaton of Companies in the State OF Ohio, the same
provision is reenacted without, in Olinon, repeal
Ing any portion of the act above quoted rom.
The action Of the Cleveland Columbus and Cincin-
natl Board of Directors in the premises duly sub
mited TO the Stockholders Of said COmpny, at their
meeting held at the principal office of sad Company,
at Cleveland, the lst day of july ina., by whom
sad arrangement was unanimously assent,d TO and ap
proved. Under these circumstances, we lave hest
tation in expressing the opinion that the ave-named
Endorsement is entirely valid aud Obligatory upon said
Cleveland Columbus and Cincinnati R,iIroad Com
pany. ,sn ,,nnuws
ClertlGHJ, July %, 1854 F.T.lACKUS.
The Legislature have under consideration an amend
ment of the Limited Partnership Law, witch meets
the appreciation Of our business men, aud against the
passage of which there appears to be god reason
adduced. Many capitalists are now prevented from
investing money in business special partners, be-
cause they cannot take any part in the management
of the business without becoming general partners.
The present amendment is intended 10 oh,iate this
difficulty. The bill is as follows:
SECTION l. The Sd 18th and ld sections Of title Of chap
Of part II Of the Revised Statues hereby AMENDED that
the same, respectively, shall read ss follows:
SEC g. The special sIiners may take part in tie
and eonduc; of the bunness Of the partnership but only
general partners shall be authorized sign for the partner
chip, and TO bind the
src H. No special ps1uer shall be made liable beyond the
part in the conduct business If the frn
but special PstseI who shall sign the firm nGIo shall be
SEC - Any special partner may loan advance money 70
the partnership and stand upon the footing Of creditor Of the
finn therefor and in case Of the insolvency bankruptcy Of
the partnership for all such loans advances the special
itor Of the partnership II insolvency OF bankrupt
ey OF tie partnership no h Pner shall be allowed to
sdetpon than money loaned advanced tie partner
ship claims Of all the other creditors shall be satisfied
listing limited partnership shall remain subject
the law regulating the previous TO the passage Of
this act.
The Circular of Messrs. Marie & Kanz for the
steamer says:
NEwYoRE, Monday, April 1855.
The absence OF speculation which noticed several
weeks past still continues and uehe the abundance
nor the general nyto since the AsAs arrival peace
certainty has been able to communicate serious move
me1 20 public stocks Quotations have been well sustained
during and show the whole slight improvement
on our previous sayices.
STATE STOCKS well sustained with activity Ms
B.