, 1874-09-16
The RAILROADS.
Important Decision Of the Wis
oonsin Supreme Court.
An Injunction Ordered to Issue on
tho Northwestern anil st.
Paul Roads,
They Must Comply with the
Potter Law.
They Are Given Till OCT. l to Make
Preparations.
Effect Of the Decision in the Wall
Street Money Market.
Marked Decline in the So-calted
Granger Stock.
Change In tho Management of
Illinois Central.
President NOVEL; lRetires, and Is Sue"
ceeded by Wilson g. Hunt.
gale OF tho Illinois southeastern Road
to Lis Dondh0lders.
Marked Decline in the So.Calted
Granger Stock.
Change In tho Management of
Illinois Central.
President NOVEL; iRetires, and Is Sue"
ceeaed by Wilson g. Hunt.
galo of tho Illiuois southeastern Road
to lis Donlh0ldels.
THE WISCONSIN LAW.

THE WISCONSIN LAW.
DECISION IN THE INJUNCTION CASES.
MAp1soS, Wis.,, Sept. 16.-Tho following is m
abstract Of tho Supreme Court OF Wisconsin,
prepared by Chiof-Justice Ryan, In tho case
brought by tho Attorney -Gcnoral and Railroad
Commissioners for an injunction to compel
compliance by the Chicago & Northwestern
and tlo Chicago, milwaukee, i St. Paul Railway
Companies with tho provisions Of tho Potter
law:
This Court has no ortginal Jurisdiction Of procccd-
inss Iy Injunction ut s suit Of private persol.t to
cnforcu private remcaica. nnt ha 1rsalGtion q ne
noy.Gencra in tho nat,sre Of injunction bill to re-
strain cxcefs where mandanus would not + 60 o 10
Court in q group Of rrerogadvo .writs Is given
i1astt w11 W 9 tcf
and approved independently 81 Secs; y and a. chap
148 Revised Statutes courts Of equity hafs 5nrssas
aon upon e. .oq aro aaesss or abpo
OF corporate franchises or otler yioAslon o. Fnnue
sw under color of ftancss t. the r ruS H. 'n9%. 5y
Waesep tnes operate to limit thn 3urisdss!ioa of e
circuit Courts Is not here considered Il il for e
thu aets charged work T. rnllio innsy. This Th'a
jarisdtctton waa an established IT, equitable, ne,o 5f's r.
ls'' ths State Constitution, and Hee. {, Ar: !,
Of Constitution III rSnt'on Of tTai " Jury ans no
md ho jurs.e.ion of them II equity dcpri'ss tho
Z ;. # ~ sst # By ts o5as ny ~ Or S1 I'll
tho same session. All tho chapters aud viii sand
together Thu Court fn ~ a,a,sY!sy la hoasns
pany IL ho corroratiou designated tho Milwaukee,
st. u1 lsairpa Company in cha, be- a72 The ,os soE f.
sas saaod i'tst' t. 1e1 a''sA
sSesi asta he Lcssauro for granting corporate
power or privileges oxcep. to cities il only
ud ,a relation y sssng sornoF's charters tiers by g
r1o esiaIshad il t'o partnon.h College, Of wooa;
is,rustcI by charter with public interests rs to
1a.w. s G y se Gor i
tho ralo Of tho Supreme Court of the United States OF
tic construction Of canse in tho Federal consu.
ehaTtsrs t was aesignea e ;, tai;s, sad tios; :;
tho rule In tho Dartmouth College casc and the Lcgs-
uturc has the power over such corporaions ns
served power to alter or repeal has other limit in
aw than In implied in tho words ussd tha power 70
alter Or 70 ee Th
tlo power should e under tho guidance Of oxtrcnlc
Moderation md sesiona na AZ @ no' noi IL oG @ onfgs la"
laye discretion. So fur as corporate franchises arr
concerned, tho Lceiyasnre Is under nc moral obiga-
md adcquata amount, but their power over the fran
chise Is absoluts bit tho power 10 alter repeal
not aes hs s1ry q q ps1 an Tue
1t IL not material here whether tho defendants hnd
elected 10 accept or reject tho alteration Of their cnr
ters. Dy Chap. Ga they were bound to obey the
statute Or to discontinue their operations corporate
holies. In either case they had no right e condus
ri 1s7i, 10 Tar Us is provisions before tic cour
ln Tho cases, is valid amendment of special char
sau xaad 10 vd ansndsnt q So % asonl iro,t
act Of 1872 is not here considered. The Tcrrora
asy Ss BY tie a Il
in the subaisting charter Of he railway built uer
from Milwaukee Prairie du Chie. 1t does not appea
In ta whether tho charter accepted aud tn
corporation orgauizct Under 1t before the adoption
tbs Stats Constitution There T. presumption IN u
charter iB not subject to the reserved power to utter
repeal. and. as Chap; a'3 Of 1874 would impair th
ruio in tho Dartmouth College c.sc. CHAP. 20 q
1874 cannot 10 held to nppy to ho railroad built ~
Sd,sis sdopIan o1i Of o e ia An iuforao a
il Guilty by tio Attorney de,lcral cx-otco bus IL
samo elect to answer anu injunction Us . bi!l
chauccry verified on information aud belief. Nov
the question Is uimportant beeatlso tue violation
Char. 273 charged il apparent from tue aailavits
Injunction and 1nantla,nuH IN aid Of private remetr
but there Ia sct discretion at the SUIT Of thu Hta
q !. aess eso "s has
cretton to Withhold eher Of tue %Eits in eases Of PCS
tive public injury The olons of iao e
roads of tic C4lcago 1: Northwestern, 1satiw'
Company and all Of tho roads Of the chte
n1ccpt thu railroaa from Milwaukee, to Prairie 1
Chci. built under tho Territorial Charter OF 1877 III
1873 hut hefare tue writs tesus tho Attornos.uenc1
must no III these eas1res hla oticia! stipulation not
prosecute the lefcnlns for forfeiture nf the
charters for my Violations of c1ap. ~ M enargsd
next, THAI t,ao being SLOWED y TIC Court to thy
273
TOW TIE MEMS WAS RECEIVED IN CHICAGO.
The nows that the Supreme Court Of Wiaco
sin had delivered it's opinion In tho we-knos
Injunction casc, and decided against tho Mort
gostorn Railroad Company, reached hore abo
mon Yesterday. mud created tho utn,oHt consto
notion and astoniHhnent iu railroad circles.
was the general opinion TINT tho decision wou
bo favorable to tho road, aud, III anticipation
e,,ch decision, tho stocks OF tho Company h
ao upward tendency during the past fov days.
A reporser Of TIE Tn1nusE called upon Pre
ilcnt Albert Keep, Of tho Northwestern Rn
road, yesterday afternoon. 10 ascertain "s
tho Company intends doing Under tho 6
cision. alr. Keep atatod that tho cciHl
yas quito unexpected, and that
first no could hardly beheyo shas
dgpatch wah correct. But, aa tho no"a y, !as ne !.
eo,t,irmed. thero rculais's no other altoi1iatl
fnr the Compnny bnt to comply with tue p'
asu;nns IT tl,c new law by tho 1nt of October,
hich time tho decision says d .hn law W. s4oa! nas
enforced AZ tho Company con not pGssi y,
s snss eo;storts W safA nder tho av i would no CO
na1ia1 tn mike rotrcnclmontB oyety%hefe.
ts rs place. fower trns wosd ,osl be sa. 1o
soWeb ,oN bo s't wthdrawn and Hpcoud.clnss ones .,
atsU a,itated cd ia thor Nce. AL work o. tho r
,lIs and in tho shopn wu'!d DO atolpoa,, an any .
1't% Mnrh,nr.iorco aid omployoH Of tho road rodu
1oR minimum.
srteias Dispatch % 3he GAteaao 1r'onas, ,aa,,,,
Ngw Yu.K. Sept. 16.-Wall street psna';, npeon!H';.
Fed aFsss ssss tGsy ws Ss tas eo;,dsssing 1sisS
~ H. ~ raroaGs running through thai btat'