Governor Altgeld induced the canal-commissioners, to rescind the privilege granted a short time ago, to lay tracks for an electric railroad on the shores of the canal. Mr. Altgeld says, that, when an administration retires, it is not the proper time, to close such a contract. The commission at its meeting held yesterday, rescinded its previous decision and Messrs. Duncan and Biall of Ottawa, and their backers, will have to drop their plan, to build, with little capital, a highly profitable Railroad between Joliet and La Salle, at least for the present.