New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-05-13

over ,hi. route The portion Of the road between
GAINESVILLE and the junction with the La Crosse Road
sbou, 80 miles, has been put under contract aud the
iron cent forward for the greater portion Of it, 1t passes
nm the populous Rock River Valley, and has numer
ou. large towns upon II, including Water
town. and will bring large local traffic
II viii also bring TO GAINESVILLE as the great disribu
ting point in ineIhaustibe quantities white pine Ium-
her Of Northern Wisconsin. The intention OF the Com
nanv AZ present to build north from Fond du Lac to
Appletop. which is in thickly settled country and
there await the wants of the country before proceeding
farther. This Company has recently secured Snd
Gran. Of oe 200 900 acres Of land for the purpose Of
enabling them TO extend their road to Lake Superior
and have issued circular to the stockholders in re-
gard to the prospects and policy OF the company
full report Of the COmpany's affairs Is IN press OF
which we will give an abstract when It appears
Mr.. Justice Hubbard of the Supreme Court has
given decision adverse TO the city in the acton
brought TO recover the interest due upon two bonds
executed by the proper officers of the village of Rome
in payment for stock subscribed for in the Ogdens-
burgh and Rome Railroad Company under an act Of
the Legislature authorizing the taking the stocks and
issuing the bonds. The opinion OF Justice Hubbard
holds such bonds valid overriding all the points that
have thus lar been MADE against ther eCanty. tue
positions which this opinion maintains may be stated
az follows:
|. is no objection to the validity Of such bonds,
that the act authorizing them made their issue depend
upon popular vote of the municipality
The ninth section of the eighth article OF the Con-
stitution does not prohibit the passage of laws by the
Legislature authorizing municipal corporations to use
their credit for the purpose in question.
g. The Legislature does not exceed It's jurisdiction
in passing laws authorizing cities and villages TO sub
scribe for railroad stock and issue bonds, &c.
The following is translated extract from the Euro
pean Circular of Marie & KanZ:
NEw-YosK, Tuesday, May - 1887.
The Stock market active since sdyces OF
h during the previous week The range OF hncus
op has wide and show In the sggegste slight de-
preston Money remains the rates but there has per-
haps inquiry for loans call while Pspr on the
contrary has been better request The purchases Tor nve'
Of very limited extent
The new pro position Of the Michigan Southern Railroad Of
particulars further has been received vita
favor ard the negotiation Of the SSOJ seems almost mat
certainty the subscriptions Of the first four days amount
ina already 20 S20S2,Oo. ~
The coupons Of the City OF Albany which had remained I'M
paid since the let inst honored on the 9th the oPpoh
10 the payment thereof having been withdrawn
Stocks-Rather lower prices with more sctiVty
$4,000 virginia have changed hands az 81 d9f Missouri
(fSooN have declined and Likewise Tennessee t.ss
$4,000 California Is 1870 and 1875 have been sod 81 ~
(about q Coz and $4,000 Kentucky At lS@lOf Indiana
per cents 5000 s Louisiana 6s have declined 70 3D.
and Georgia to 90. -.
CITY and County Bonds been little active but
the ng There have been transactions
I'm Milwaukee Cincinnati d. Chicago 6s, Louisville s. Sac
ramento los and Quincy cents without material change IN
quotations