The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1859-07-21

those determined enemies OF wild eating"
They are, in fact, the determined enemies Of
legitimate banking, and are bending oil their
energies to bring back the days Of endorsed
money.
The notes Of the Bank Of Rochester and
the Bank of Owstonna, have been protested
during the past week, at the Auditor Office,
OF the former there has been deposited
81 $40, and Of the latter $40. A large
amount OF the Rochester money, it will be
recollected, was put into circulation in st.
Paul by the efforts Of Mr.. VIZ. l.. Ban,
MING.
The total amount OF State Railroad bonds
issued up to date, is as follows:
Minnesota and Pacific Railroad, ..... $500, 900
Cedar Valley Railroad. ............ 100000
southern Minnesota Railroad. .....,. $4,000
Transit Railroad, .................... 5OO,VoO
Total ?,o75, 900
Under the ruling OF Gov. SIBLEY, accept
ed by the Companies, but s2,5OO,0Oo of the
bonds, or 1925 900 to each Of the four CON-
panies, will he issued upon the grading of
the road beds The remainder OF the bonds,
the Governor decides, shall not issue to the
Company until the ears are running on their
respective roads. They will then be issued at
the rate Of $4,000 per mile, and the entire
issue OF bonds will not be absorbed until
we have in actual operation in Minnesota,
$50 miles of Railroad But 1925, 600 re-
main to be issued on account Of grading,
of which amour, the Minnesota and Pacific
road will receive $4,000; the Cedar Val
ley, $4,000 the Southern Minnesota,
S25O,OOO; and the Transit Company,
Sl25,O0O.
Attempts are being made to st the va
ldity of the amendment to the General
Banking law, passed at the adjourned SEES
sion of the Legislature. On the llth inst,
Mr.. HoLiJNsHEAD, as attorney Tor WV. l..
BANNING, demanded that the Attorney Gen
eral OF the State, should make application
to the Supreme Court for leave to institute
proceedings against the Bank Of La Crosse
and La Crescent. The cOmmunica-
ton to the Attorney General alleged
that such bank is u corporation created un.
der the General Banking law Of the State,
and the amendment thereto; that said Bank
has deposited with the Auditor Minnesota
! per cent bonds, at valuation OF 80 cents
on the dollar that the Auditor, in recciv
ing them at such valuation, has violated
section four, of the general banking law
and that such act is authorized only by the
amendment to the banking law, which
amendment, it il alleged, did not pass the
Legislature in accordance with the provi-
sions OF the Constitution,
To this application, Hon. {. ii. BERRY
Attorney General, replied that he had no
evidence that the Bank in question, as n
corporation, is violating the prov isions OF
the act creating it, or that il il exercising
privileges not conferred by law. lie there
fore declined to make the application; and
for the further reason, that the reception OF
Minnesota ! per cent, bonds, by the Audit
or Of State, and the subsequent action OF
the bank in going into operation, was fully
authorized by the Banking law, as it stood
previous TO the amendment OF the extra
session, and that therefore, the question
as to the validity Of the amendment did not
arise.
Upon the decliDation Of the Attorney
General 10 institute proceedings, Mr.. BAN
MING, through bis counsel, applied to the
Supreme Court for writ Of mandamus to
compel the Attorney General to pursue the
course indicated. The Court granted an
order on that officer, requiring him 10 show
cause why such writ should not issue and
it was made re,urnable on the 18th inst.
On that day the applicant not being ready,
the Court fixed to-day, the 10Th, for hear
ing.
The intention Of these proceedings, we BE-.
Iieve, is not only TO have the amendment TO
the banking law declared unconstitutional
bat to elicit from the Supreme Court an
opinion as to the value Of our State Rail
road bonds.
Land Warrants meet with NJ sale here.
The following are the New York quota
tons three per cent. added will give the
st. Paul rate:
BqyuE. selling
40 acre warrant. per acre ........l00 10
10 acre warrants per acre ~ 20
40 acre warrants per acre .....-. ~ 10
leo acre warrants per scrs....... - ~
The Chicago 7'm,' Of Saturday says
The money marke, ia reasonably easy. and a
little more active. There !. good deal Of