New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1858-10-26

Decrease ............................sI 2, 55l q
Increase II net earnings. 80 50 y
At meeting of tic creditors OF the ONO Trust CoIn-
pany, Mr. J. p. Klbreth was recommended to the
United States Court proper person to be appointed
Receiver of that Company
portion Of the paragraph printed this morning IN
regard to Re suit against the Village Of Rome in the
Count Of Appeals having been omitted reprint the
statement. TIE action was brought for the nom
payment of interest coupons upon certain bonds issued
by the Village of Rome for subscription TO the stock
of the Rome Clayton and Ogden-burgh Railroad. The
defense was that the law auth orzng the subscription
and issue of bonds is unconstitutional the double
ground that the operation OF the act made to dc
pend upon az approving vote If the taxpayers of
Rome and tlat the Legislature has not the power TO
authorize municipal corporation to engage in the
construction Of q railroad outside of its limits other
industrial enterprise which may result in imposing
burden the property Of its citizens against the will
Of minority. The act was sustained against both
objections. 4. hold T." h. within tho decision
holding the Free School act unconstitutional, because
he question whether il should become q law was sub
mitted TO the whole body o. electors. In this case,
the proprety of acting under the lawnot the opera
ton Of the law itsef-was submitted to local
stituency and was matter of local concern. The
other objection il answered By the plenary power Of
the Legislature to authorize taxation for works of
public utility which may be exercised either directly
through the agency of the municipalities supposed
to have local and peculiar interest in the work. The
Of Rome il that Of nearly every city and large
village in the State and the decision srefo!e as.
sumes wide importance.
We understand that the grant of lands made by Con-
gress 10 the Minnesota and Pacific Railroad Company,
on that portion extending from st. Paul to the British
l.. 70 IA tba
great railway lines through Canada. This wifi give
those companies route through our territory TO the
British possessions on the Pacific. This road is
titled to hear two millions OF along the Valley Of
the Mississippi and Red Rve-s said to be very vsIu
able worth, with the road built it is estimated, at
least $5 p acre. Allowing tn. road to cost SIS OO0'F
mile ii viii leave for our Canadian cousins the sum Of
sl5 co., 0O over the cost Of construction aud equip
ment II is important from other stand points" II
affords those roads an outlet through those OF most
important grain-growing States-Michigan. Wisconsin
aud MiIuesots-traversing their very centers thus
draining their surplus products by their Canadian
routes to the Atlantic.
Several weeks since the negotiation Of tae Mssis-
sipp Central Railroad Company for the iron required
10 complete their line announced. II Is said that
tie report OF Mr. Fisher tie auditor appointed by the
FL gish shareholders of the Illinois Central Railway,
made in May last, effectively brought TO the notice of
English capitalists the Importance Of the route from
New Orleans 10 the North. The distance from New
o. cans 10 Columbus il 81 miles OF which i52 miles
are actually completed and tie cars wiz commence !
running in a few DAYS from Columbus 10 the junction
Of tie Memphis line. Passengers will take the steam
Terry which conveys the Southern mails from Cairo to
Columbus thence by train ~ Memphis. These south |.
EN- lines from Mobile and NewOrleaus have been con-
s;ructed chiefly from local resources. Tie Noble and
Ohio Railroad Company has its land g-snt under the |.
same act Of Congress which conveyed the lands the
State Of Illinois. The President Of the Company has |
recently concluded the purchase Of Is 600 of
iron, now on the way to Mobile which vii suffice to
complete the line The question q the create perla
neuce Of the traffic arising from Interchange Of
business between points al different parallels of !at-
ude is ably discussed by Mr. Fisher IN the report |
alluded to- and this railway connection which will
vey passengers from New-OIleans to Chicago in Is |
hours in lieu of five siI days river navigation 70
Cairo the terminus Of the Illinois Central Is likely to
become of the most important in the country.
The Directors of the Bank of the State of Indiana,
at their regular quarterly meeting at Indianapolis last
week, adopted resolution in favor Of the establish
rnsnt Of CLEARING House st Cincinnati, but declaring
ii ine1pcdeut TO unite with the Bark OF the Ohio Val
ley under its present organization. The Indiana Banks
insist upon an equal share in the stock and manage
NETT with the Ohio Banks a condition precedent to
their cooperation. Tie CiAoiRHG:i Gazette savs that
on account of the want Of harmony sn,ag the Barss
in regard to it,
The Ohio Banks will probably uniertat. 20 carry
TIE project through as ar independent Ohio institution
without makI any distinction in the management OF
IL clearing departments agalns, the Banks Of Indiana
ard Kentucky which may a. irdividual corporations,
cooperate with il. In this wsy r,nch good may be
but in order TO establish thorough
earring House broader and more liberal bas. 1lst
be- uroyid.d.