The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1864-01-25
IMPORTANT FROM THE STATE CAPITAL

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Meeting OF War Democrats to Place Ga -
Grant Before the People for Presfdens-
A Convention FOR Has Nomination 60
be Held I'm WashingtOn-Ntsgsra Ship
Canal BiII-Its Principal Features
The Grand Street Railroad, &c., &c.
ALBANY, Jan. "a, 1854
Leading war democrats, from various parts or che
State to meet Wednesday next for the purpose OF
organizing a movement to place the OF General
Grant before the people as q candidate for the
Presidency the programme that they will probably adopt
will be appoint committee with instructions to call
public meeting at Washington for the purpose OF placing
General CRAFTS name formally before the people, The
Washington convention will be held within the next six
weeks This will undoubtedly be turned into peoples
movement with men Of all parties uniting In 1t.
Prominent republicans direct from Washington state
that Lincoln falls short Of receiving the support Of his
party there also that public demonstration in favor
OF Grant will develop scattering among many Of those
now counted in favor Of his denomination.
The Niagara Ship Canal bill made its appearance In the
Senate Friday has the appearance Of close corpora
ton 1t Ia somewhat singular to see the names OF the
corporaors and then another list OF directors and the
time fixed for them 10 serve as directors.
This action is without precedence and does not speak
nor He @ but be
done decenty and 10 order But the idea OF taking out
OF the hands OF those who furnish the money ana sub
late board into office some for one others for two and
still others for three years. is not exactly the thing and
IL will be found in the end that the hackers Of this pro-
ect have made fatal mistake. In trying to get
thing it often happens that some people are now and
then too sharp for themselves. The following
Of the principal features Of the bill
Section one names as corporaors Jona Surges Horace
a. Day Aaasoa Whses 1Onn cSonane Daniel
V. Stout, Isaac Hills, L. r. Ross Henry p Morgan, W.
II. Swift, S and R. Poillon, o. n. Beach, G. "
Hoyle William Avery, J c. Churchill, T. 7. H. Gibson
L. B. Hewlett, G. T. NJ. Davis, s. Cobb, David Utcy,
L. spaudiug. p Whitney, John Fiske, Elijah Ford,
Henry Wells John Magee John Butterleid A. T. Branerd
Gerrit Smith, c. Hotchkss and Dean Richmond, all OF
the State OF New York; p. Chamberlain, OF Cleveland
Broadhead, OF Milwaukee,; w. H. Osborn and J. b
Blackstone, OF Chicago, and Henry Hitchcock, Of St.
Louis.
shall be 50, 900 oOO to be divided into 500 shares.
Section threw F. Allen, Henry Ftzhueh. Delos De
Lombard, OF Boston, shall be commissioners to open
books for subscriptions, said books to be open be-
the LIST Of June and notice there If to be published
in public paper printed in the counties Of Oswego
Niagara Erie, st. Lawrence, Albany and New York.
Section four provides for meetings Of the stockholders
after the requisite amount shall be paid in.
Section five provides that the cement Of Affairs
shall be done by board Of fifteen directors.
Section SIX AEel A. Low, JAS Fl. Wells, G.
T. NJ. Wells and David BOWS, of New York; Frank His
cock and Austin Myers, OF SYRACUSE Delos De WOLF L.
B. Crocker and Luther Wright OF Oswego; Charles B.
Buffalo; Marcellus Massey, OF Watertown; Charles b.
Stuart Of Geneva and Lorenzo Burrows Of Albion as the
first board Of directors to be divided into three classes
The FIRST class year, tho second two years.
and the third three years
Section seven-None but sockholder shall be eligible
for the office OF director.
Section eight gives the directors power TO regulate
the sale and transfer of stock, &C.
Section provides that every stakeholder who shall
refuse neglect for twenty days to pay for his stock
may be- compelled BY action to make such payment:
construct shpcanal Of sufficient dimensions to allow
OF at least one thousand tons burthen to pass from
Lake Erie to Lake Ontario and from Lake Ontario TO Lake
Erie commencing convenient point the Niagara
river above the falls and Terminating some convenient
point below upon the stroa aud purpose
shall have and authority, by their engineers and
agents. TO enter lands streams OF water
the purpose making tho necessary preliminary exan
nations surveys, and to upon and appropriate
TO their own use for the purpose Aforesaid any lands
streams OF water for the construction of the said canal
with such dams guard gates waste wiers, locks, lock
houses basins Bridges toll houses &C., &C.. may be
necessary for the safe and convenient navigation Of the
said canal and It's preservation and the OF the
works connected herewith
Section eleven provides that before taking possession OF
any streams OF II shall be the duty Of the
corporation to acquire the title the land by purchase
or voluntary cession from the owner
Sections ~ 10, IA, 15 10 and Il are in relation to the
purchase OF the lands and the legal proceedings to be
poyed provided the are not disposed 10 part with
such lands on fair and reasonable terms.
the capital stock shall have been subscribed for
and per cent OF the paid In, the corporation
within nve years from June next commence the con-
sruction OF said canal aud in the corporation shall
fail go ar to complete the canal admit the passage
OF boats and through its whole length within ten
years the franchise Is to BIO OF no effect.
Section nineteen gives the power 70 demand
transported thereby, and all timber aud logs passing
through the said canal such tolls not to exceed in tho
greEate for any the cost Of operating and keeping 10
repair the said canal and ten interest the cost
Of its construction, free OF government tax
Section twenty-In times OF any civil commo-
ton vessels OF the United states those bearing excu
svey munitions Of war or troops OF the United states or
other vessels in passing through SAID canal and may
pass free OF toll and all property OF the United States
may pass free OF toll.
Section twenyonc provides for the punishment Of any
party found wifuly guilty Of inurng any OF the pro-
perty OF the corporation
section twenty two provides that the corporation may
accept terms inconsistent with the charter
the laws OF the United States this State, any State
any grant Of land, boncs moneys credits which may
be made them for the purpose OF constructing the
canal and the works connected Herewith, and may hold
and dispose Of such lands for that purpose
The OF New York shall have the right TO purchase
the said canal upon the payment Of ten cent 10 add
ton TO the cost Of construction.
Section twenty threeThe stockholders Of the said cor
poraiion shall be liable TO their creditors to the
tent stockholders OF railroad corporations
liable under the general Railroad act.
Section twenty four-This act to take effect mme-
diatey.
Mr. Bencdc, has introduced bill into the Assembly to
incorporate the above company, which names corpora
tors Charles Curss A. b. Darling. William Shandow
Isaac Pckord Eliza Ann Gray John H. Chambers, John
Dean, George f. Reed. George p. Nelson and VIM Bangs
who authorized TO construct railroad through the
follow iag streets-Beginning at the easerly extremity
OF Grand street, through aud along Grand
varck street, along varck TO Watts street, through
Watts 10 Greenwich street, along Greenwich 10 Canal
street. along Canal West street. along West and Wash
ngton Streets through Washington to Watts street. along
Watts with q single track connecting with the double
track intersection OF Watts street. with all
sary turnouts switches &C. The fare Is to be no moro
I han three cents.
Mutiny ON Board the Ship Coromandel.
Bosros, Jan. "a, 1854.
The rev ship Coromandel sailed yesterday after.