, 1873-05-13


ous instance Of tho Ignorance OF financial sub
Jects that prevails In legislative bodies, in ro
Gently passing an net to prohibit all corporations
not duly organised undor the lava Of tho State
from loaning money, dscountIng billB OF deal
Ing IN exchange within the State Of Kentucky
The new lam roads:
No corporation not expressly authorized BY 1aw a
dobt, or deal in the buying and selling Of oxchanpe
Sf se5RSr.tien, sns sa saeh sorporstioas ss'
fense bc hned from $so to tloo Ali contracts made Il
violation Of ths section alal DO void, and MI mono,
exchange ii violation hareof may be recovered bsel
by tho party paying, or lis creditor.
1n order to understand tho probable ofYect oil
such law suppose that tho Legislature Of Till.
'nols ahouid pass an not to prohibit tho Bank OF
Montreal, tho Connecticut Mutual Life Insur-
ance Company and all tho other foreign moneyeil
aas from lending money in this State
This however, Is only tho principle Of protection
applied to tho trade In money.
i, :, MONOPOLY " COMING TO A HEAD"
vanaosS;14 NSm xoFk e paper claims that Commodore
remaining routes available for tie CONSTRUCTION
q more railroads from Now York to the West.
This purpose is said to DO concealed In tso an
Psrently harmless bills now before the Legela-
which are to give Vanderbilt Tie right to Law
down two additional tracks for tho New York
Central and Hudson River Ono bill gives him
ne l'shtt st to LAY down an additional track any
tho other bill allows him to lay down nan another
track for tho Now York Central anywhere
DO may choose to locate lilo line. Il
~ 1,,,S1 Claimed that with theso privileges Van
OF the Now York Central through the contined
passes On the wost bank OF tho Hudson. and in
ne MohsWk valley, 80 aa to practically block
IN tne way against tho construction Of any now line,
the ,Weat or NorthWost. Still another story
which oreatoa some aenBation in Boston. is to fhe
elect that Vanderbilt ia ondoavoring to got. in
@ aome Wsy, tho legal control Of the Hoosao t,,ll-
pletion, or plugging it up With d iligh freight
ta1fn Hhen It La completed. II tleso rutnors
have foundation in fact 1t would not be- 40
aot,,a,n maoe aub{eet Ct regret i they should be
thought. Il would only be the means Of bring
ly to head. 7|~A0>7
HoAEAsE OF oAP1TAI srodK OF THE ILLINOIS GEN.
TRAL RAILROAD,
Tho following were the resolutions recent1v
adoptea by the Illinois Central Railroad Coni-
pany in connection with tho proposed increaso of
capital stock: "a
Ias Directors Of this Company, barlng MAD. A.
Engagements FOR through communication from CLjravo
and st Louis to New Orleans, whfth they beIieyo %
!ssgy Increase It's busineaa and rovoni,e. desire 10
Rro7lae Tor ontlayB required TO perfect js cnnnoc
Ton also, for the extensive and important worka n
progress upon the Lake shore at Ohicsgo aud to MAXI
mine that the requireent4 for theeo nurnoae, MAJ
fors % ier BY an issue Of share there
rss-Io q 1ncrease the capital stock Of tho COMPANY
w byn further Asuo Of shares to us az
te9t ~ OF twenty f2o) per cent thoreupon - |
subscriptions from shareholders to tho
e1s @ ~ even sharos, N the proportion Of ono TO
1v1fy AVo ahares reRtEerel In their nsmca nnn Tia
'';1 q pe +Rs RRs1t sha be accepted
these subscriptions ea 10 mado upon @ M the i 1T oy
raeeni. no11 .. wheh WI. date the Company viii isss
oy 4eF 1e eent shall DO payable upon The lat day o A
f1ur-Thesc certificates shall bear interest st .ba
5 Iata Of por cent per annum, until lis 1T DIV
" aIgnst 1814 payable on tho rHt days Of Japuary
4nu AnguAt, 1874, at the oflco Of tho Con,nanv ~
Sm aofk s at mh; ast s tho copoon of o
sare Of tho Company. to be- antsd igs 'ne
d1ytdenda declared thereafter. ~ '"s''oo 70
.fnfh-Tho certificates shall bo transferable In ANNA
or the muples Of 49, 80 Tint when tlo aocon
p1Xment p 70 the Company Is made tho total amount
WILL correspond to tho shares to be isaued.
=. LOCAL ATooK AND BOND MAnEEr
Messrs. Limit, Preston & Keau Quota aa fol.