Phenix Gazette

From the Baltimore American.

Chesapeake And Ohio Canal.--We learn from the Gazette that on Tuesday, in the case of the Injunction obtained by the Baltimore and Ohio Rail-road Company against the Chesapeake and Ohio Canal Company, Mr. Latrobe commenced the argument before the Chancellor, on behalf of the Rail-road Company. He occupied the whole of that day and Wednesday, until 3 o'clock each day, in shewing cause from the matters stated in the bill, answer and exhibits, connected with the known rules of equity as applied to the circumstances of the case why the Injunction should not be dissolved, until the question of right between the two contending parties shall be fully decided. Mr. Latrobe's speech discovered that intimate knowledge both of the facts and the law connected with the case; which are highly creditable to his talents and industry.

On Thursday, 23d, Mr. Wirt opened the cause on the part of the defendants, and, after a few remarks, was followed by Gen. Mercer, who commenced reading the exhibits, preparatory to the argument proposed to be made by Mr Wirt, and the course of which had been stated in the opening. After reading until half past 12, General Mercer proposed concluding the exhibits on Friday: and the Court adjourned with a view, at the request of Gen. Mercer, to allow him time for their arrangement. It is impossible as yet to say when the argument will conclude.

As all the Counsel for the Canal Company have not attended--it is understood that some of those who attended on behalf of the Rail-road Company will not take a part in the discussion now pending before the Chancellor.