The Street Uailronds.By reference 10 the Council proceedings, it will be seen that a considerable change has been made in the ordinance establishing street railroads in New Albany and granting the privilege to a company to build and operate them.The day after the last regular session of the Council iD October, we announced that the ordinance, as originally drawn, had been passed. This seemed to be the general understanding of the Council. It appeared, however, that the ordinance bad been read but once, and on that reading put upon its passage and carried.At the meeting of the Council last night the record of the previous meeting was so corrected as to read, “aad the ordinance was read a first time and ordered to a second leading;” and that part of the record showing that the ordinauce had passed was expunged.It was claimed by a majority of the Council that the ordinance then under consideration establishing street railroads, (which givee to a company named in it the exclusive right to use all the streets of the City for theirr trackB for a term of thirty years), transferred all the rights of the city to all the streets, so far as relates to railroads being built over them. It was claimed that nnder the grants made to the company, the dty had no right to permit any railroad centering at New Albany, to enter the city upon any of its streets. It was further claiiqed that the grant was extraordinary and unprecedented in the special privileges it Would confer upon the company.The friends of the ordinance contended that the privileges asked by the company would not at all affect the right of the city to grant the use of any of the streets to a railroad company using steam as a motive power: that the ordinance only related to railroads propelled by horse or mule power, and that the city, at any time, had the right to give the right of way over its streets to any railroad which might come here and aek that privilege.Mr. Bradley submitted an amendment to tbe ordinance,striking out that portion of it which gives the company the use of ail the Btreets in the city, and granting the company the use of Main street from Failing Run bridge to Upper Vincennes street; along Upper Vincennes street to Spring street: down Spring street to Lower Eighth; along Lower Eighth to Main. Also on Bank street from the Railroad grounds to Front, and along Front street to the ferry landing. Tttia amendment was adopted.It is not at all probable that the company named in the ordinance will accept tbe ordinance as amended—at least it was so stated by Mr. Morris, one of tbovcompany. The probabilities, therefore, are that another company will be organized to build the street railroads, unless the Council recedes from the action taken last night, which it is not at all likely to do.01CenS'i:GPotl'i8dr