New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-06-26

nSia goods are well held the stocks are small tu
domestic goods the supply large, ana seems - po
ON the Increase There very little demand, and The
views of holders rather above those oil their Gus
,omers. The wooden jobber. are doing very little
business There is a large amount OF t0reign wooiehs
in bond which will soon be offered 10 're market anu
the expectation Of this renders pnces very unsettled
both OF foreign and domestic woolens in store
The Coupons on the bonds Of the Housatonic Rail-
road Company; due let July, will be paid at the office
of Messrs. Ketchum, Howe & Co., William street.
AT the annual meeting of the stockholders in Febru-
airy last was resolved pay off in cash $50 900 OF
the outstanding bonds falling due jan |, 1888, from
the net income of the Road in 1857, and TO create
new issue for the balance bearing date Jan. 1891,
of $3.50 O0O which should retain the same perfect Sc
curity which had been given for the original bonds OF
800 600: of which new issue il decided to make
$50 600 PAYABLE Jan. l. 1852 so, 900 Jan. |, 1860
$50 600 JAN 1861 $50, 900 Jan. 1862, and $4,000
jan l. 1863 and they extinguish the whole mortgage
debt within the period prescribed In pursuance OF
this RI solution the new bonds have been prepared aud
already negotiated to the extent of Sl9,OOO chiefly
in exchange for the cld bonds which have been can
ceed and charged off, leaving Ssl, 900 yet to be ex-
changed or otherwise disposed of.
An advertisement in relation to the remainder OF
these bonds will be found in another column.
The interest on the bonds issued by the City of
Rock Island to the Rock Island and Peoria Railroad
Conn any due the let of July, will be paid by f.
W. CLARK, Dodge & Co. The entire city debt Is
$97 000 forwhich she productive railroad stocks
having received during the last year dividends OF
81 go more than she has paid interest. The ROCK
Island and Peoria Railroad will be finished to Coal
Valley in about six weeks, and will open with large
coal business.
The Charter of the Merchants Exchange Bank of
Bridgeport has been repealed by the House Of Repre-
sentatives of Connecticut. This Bank chartered
last year. II is charged that there has been unfair
ness and rreguarty not dishonesty, in its organzs
ton; that the people of Bridgeport were not allowed
the fullest opportunity to take its stock; that its
money on deposit was obtained from New York, and
afterward taken out of the Bank and taken back to
New-Yolk that it was owned and controlled by stock
holders in New York; and that they used for their
own purposes, making it Bank of circulation merely.
This, il is said, the ground taken by the Bank
Committee in the House; and the Charter was re-
pealed in consequence.
The General Term of the Supreme Court met at
Rochester on Saturday afternoon, and announced a
decision in the case of Freeman Clark agt the City of
Rochester. The judges present were Messrs John
son. Strong and Smith.
The case is thus stated in The Rochester Unton'
AT the october circuit, neiu ny Judge Alien VI
Oswego in this city, the salt brought up for trial
The grounds of the suit well known to the public
Mr.. Clark had purchased of the city $500 900 in stock
of the Valley Railroad, and paid them some $s0,OOo.
Alleging the stock worthless, he refused TO accept
it, and sued the city for what he had paid.
Judge Allen decided that the law under which the
city issued bonds and took the stock in the g. " X. r.
unconstitutional and therefore, that all contracts
under it were void He ordered judgment for plain.
tiff Clark. The city appealed the suit to the General
Term. ard the argued before 1t IN March
last by +. Griffin, City Attorney, for appellants, s.
Matthews for respondent. AT three this afternoon the
Court announced the decision follows:
City Of Rochester appt. vs. Freeman Clark respt.-
Judgment of special term reversed-new trial Or
dered-cOsts to abide event.
The decision is in favor of the city on all important
points, and in fact, declares the law valid and the
bonds legal We understand that all the Judges have
written opinions ON this question.
This decision will be looked for with lmuch interest
in all parts of the country and especially in this State,
as it has affected the reputation of the city, and other
bonds issued for similar purposes ours and under
similar laws II is than probable that the case
will be carried TO the Court of Appeals and make the
decision final and conclusive. 1t is better for all tat
il should be settled.
The total shipments by the Lake from Chicago
during the season thus far have been $4,000 bbls
Flour, iO2 900 bush. Wheat 2,G27 900 bush. Corn
and l2i, coo bush. Oats.
TIE Cincinnati Gazette Of yesterday says
private dispatches from Columbus to-day indicated
missing Seneca County bank bonds. II is feared they
have been hypothecated in NewYork 1t is time the
State Auditor had advised the public officially upon this
point The bank is not redeemng its paper. The cir
culation on the first Monday in May was $l5OOOo
At Philadelphia the money market is quiet, with |
very little really rst-cass bills Offering. There is
scarcity of capital when paper that is undOubed is
offered The little that is presented of this descrp
ton goes at from SAG y cent.
: rato but is
usual inactivity in money transactions Strictly first
class quoted at 7!dS b cent, but very |
acceptable signatures can be had Ct from Sag.
At New Orleans, according to The Pieayune, the
Money market continues to quiet aud monoto'
nous appearance, as is necessarily to be expected at
this period of the season, and from which material
relief can be expected for the next sixty days. Money
in some quarters is reported less easy of access, but
on the whole we cannot discover any change. Prime |
accepances, maturing early in the Fall, are done at
9Q9l, and 9! a 10 for longer dated. The banks have
ample employment for all their surplus.
Our suggestion 10 have the figures OF the Cotton |
crop made up here instead of New York meets with
general favor. People begin to perceive the absurdity
of going distance OF 800 miles to ascertain the guam
THY grown here. The memorial will be extensively /
signed, and will no doubt be responded to by the |
Price Current.
Exchange is firm. Sterling continues scarce at
10 a ll0i and the only bank which draws asks llOl
and has obtained. No bill.ofladng drafts nego
iated to-day. Francs range from 5fl5 ajfl2l. Some
6O-day bills on New-York were sold at y cent
discount but the drawers will not take less than /.
Sight is steady at la T. cent premium.
The Nautilus Diving Machine, before noticed in our
columns has met with great success in England.
The Victoria Dock afforded facilities to Mr. Hallett
and Major Sears for making the experiment for the in
formation of the public, on the % Tuesday in June.
There was assembled to witness the experiments as
a. |