New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-02-02

tered let were AZ fsI. 'u' ater tnc 'u'"en1 =" VIZ
s. coIc Board TIE .rk was offered down to n, de-
cline cf 5 = cent surrg the Day. CSsn stock, how
,ver was scarce, and deliveries maze win dhicu ~
Il lie DOW reported that the long takei OF epPoson
hne" under the ausplcss of Commodore 'aadefout'
will be advert. ed on the as via Panam., unless GER
tain terms, which have been Submitted TO the Mall
Company, a-e accepted. Weco LOT vouch for the 'c-
curaey of the statement, bat give It a. arons me
items Of gossip n the street. Inc uanssctobs
in New Yoik C.n.Ts not unusually srge ard the
stock was tolersbly steady at tie Fret Board bat
gave way more decidedly IN the afternoon, ard vas
fr ally sol1 dova 70 sll after the adjournment. Read
il sdvarced slightly in the morning, and closed quite
firm, but sss offered in the afternoon at decline OF
about I, cent. The Western shares were generally
s.esdy Of the First Board and for Gaens Rick Island
Ard Miehe.n Central there was fair and to'erably
well suitsr, demand bu, in ster TRANSACTIONS Of the
dsy there was decline of 10 = cent in each. The
business in Bonds was mostly confined TO State
Securities, reary ali Of which appear TO synpsthize
in tie general downwsrd movement Of the mar
ke,. As compared with quotations of yesterday,
Missouri e. show decline Of J cent,
Tennessee /; Vugnias, !; Cslifo' MIA 7s new bonds
/. Ire business Of the Second BoHd Wa not large,
but there were unmiststsbe signs Of hesvinss- from
the ops ning to the c!ose and after the adjournment
prces gave way very decidedly for most Of the leading
stocis good share Of the purchases in the morning
uere no doubt OIL short account, shougha few orders
are coming in at the low figures. The closing prices
were: For Missouri Is, SASH; Virginia 6s, 90
ae6l Canton Company. l9al9a; Cumberland Coal
Company 0d2l; Ne~-York Central. sl4 Bsll Ere,
l3l Harlem, IS! a l35; Hudson River, 3'3 a 3Oii
Reaoirg 4sa4si; Michigan Central, 49i d49ii Mich.
igsn southern and Northern Indiana, Is lst; Pre-
ferr.d Az a44i; Panama l3i dlli; Illinois Central,
&C 1901; Gslsna and Chicsgo, 6S4 G6Sl; Cleveland
and Toledo 30ia30l; Chicago and Rock Islatd, ISL
a5s2; La Crosse and Milwaukee ltall Illinois
Central bonds, 1875, 81; Pacific Mail, nam.
The business in Foreis n Bills for the steamer to-
morror has not been very large, but the rates are
firm. The Empty of outside bills is light The range
for Commercial and Bankers Sterling Of leading
names is 100 alG9s; Francs jlsl G5.l3l.
Freights are very quiet. Rates nomnally IN
char ged To Liverpool 100 tcs Beef at 81 o.; 100
boxes Bacon at LIS. 3d. To Londoo 10 tuns Measure
ment Goods at 49,; Us tuns Honduras LrgwoOd a,
22s Cd 100 bbs Rosiu al %. 90. To Rotterdam, 6OO
tuns Measurement Goods on private terms 200 bales
Comp, essed Cotton at &C., a brig TO st. Jsgo and
back at Acc for Sugar and for Molasses port charges
p.id. vessel Of 9i tuDs to Zsza AID back at iOc.
for Sugar and g for Moasses. Two small vessels
home from same port at ioc and g. vessel cut to
and home from Porto Rico st 4Oc aud s. aud one of
$50 TINS TO north ride of Cuba and back at iOc. for
Sugar and 81 fJr Molasses
Tie business of the Sub-Treasury Receipts.
$3.50 100 O9-for Customs, 81; OOO account of Loans,
$2s5, geo Of; Payments, S3ll 900 43; California
Drafts, So, 600; Balance, s7,jS7,99S IS The re-
cepts for duties it Will be leen were large
We annex a comparative statement of the exports
exclusive of specie from Newyork to foreign ports
for the week and since Jan. /:
Total for the week 2i2l46 sl,silSs sIs2so
Previously reported...... 3,2lSEf S3!S723 2525, go
Since January sl456,l7o sIs7loH sSs@,lOl
The decision of Judge Davies in the case Of the
Gun berland Coal Company agt A. NJ. Sherman ct al.
is Of the NEST important which has been made in
regard to corporations for some years. II applies TO
Directors OF corporations the principle which governs
the aoDs Of trustee ard cstai que trust in respect
TO purchases of the trust estate contracts With
spect TO that estate 1t adopts the broad ground that
in all where Director buys of or contracts with
the Board Of Directors Of which he is member, the
ssle or contract is voidabe at the option of the CON-
pany, without regard to toe fairness unfarness OF
the traI ssction l. asserts this rule conclusion Of
law, founded on considerations Of public policy,
which, inssmuch az it wo1d be often Dpos-
sible for any Court to ascertain whether the
transaction by p,ry in relation Of trus. and coL.
d.rce was iu.t one or whether the interests of the
ctstu que trust mad been duly protected strikes at the
root OF the evil by declaiir that such transaction
she'll stand except at the option of the ee,tu que trust
The principle is Of very wide application. It. is said
that about three thousand millions of dollars is involved
in corp ,tate shares and securities in this country.
Perhap, 10 decision las been rendered in many years
60 important to the vast sid wide interests involved in
the crest corporate enterprises Of our dsy, or which
will have 20 sautary al operation in checking the
evils which Lest such Institutions The opinion also
lays down some legal roles governing dealings be-
tween directors ana stockholders, scarcely leis i'm
poitant.
The receipts in January on the illinois Central Road
were, in round numbers, $l23. OOO The Norwic' and
Worcester Road will snow q fair increase over JAM
1858 TIE January earnings Of the Cincinnati and H.
apos Road about g coo and the net earnings
the pact year are $685. GOO, equal to 81 cent the
stock. A large subscription has recently been made
the bonds Of this Company by the stockholders 10
ed able to pay it, floating debt There is little doubt
that this road will resume the payment of T. cent
semi. annual dividend in July Iext The New.iork
Lie Insurance and Trust Company has declared
semi annual dividend Of y cent, payable on demand.
The Manhattan Company sem.-sI nusl dividend of .
= cent, pay able on the 10Th inst. The Mercantile
Mutual Insurance Company dividend of III b cent,
pay able on tie litl int. The City FIRE Insurance
Company a dividend Of 3 b share, payable on the
9th int. The holders OF the income bonds of the
Beefo1siIe and Indiana Railroads, due this day, are
requested TO call on Mr. Henry Wick at the banking
bouse Of Messrs Winslow I4rier & Co. No. 50
Wall street. The transfer books Of the Oswego and