The Express.
London, England, 1863-10-29 00:00:00

THURSDAY EVENING, OCTOBER 29, 1863.

LATEST INTELLIGENCE.

DENMARK AND GartMANY.

We yesterday gave the text of two notes ad-
dressed by Earl Ru4sell to the Germanic diet, dated
respectively the 29th of May, and the 14th of Octo-
ber last, containing the representations of the
IlEnglish cabinet relative to the resolution of the
diet, which decreed federal execution. It was
in the sitting of the 22nd that the diet was call2d
upon to come to a decision on the Bret of these two
despatches. In conformity with the conclusions of
the committees instructed to make a report to
it on this subject, the diet declared " that
it could not act upon the communication
of the British cabinet;" consequently it re-
quested its president to notify this resolution
to the English ministry, and to communicate
at the same time the report of the committees.
In this report are explained the motives which lei
the diet to adopt this important resolution. The
committee are of opinion that the "constitutional
question which concerns the duchies of Holstein
and of Lauenbourg is a purely internal matter,
and that, Denmark persisting in adhering to its
illegal measures, it is impossible for the diet to
abandon the federal execution without placing
itself in opposition to the fundamental laws of the
confederation and the obligations which are im-
posed on that august assembly."

(Rrorsi'm Tniviums.)
FRANCE.

PARIS, Ocr. 29.

The Mexican consuls in Paris, Bordeaux, and
Havre having been compelled to mute their func-
tions, the affairs of these consulates have been tem-
porarily placed in charge of the consuls of Guate-
mala

EXPRESS FROM PARIS.

(nom OUR ows comusirosoerr.)
PAR'S. WIDNIBDAT Evzsuto.

The Pays now takes upon itself to argue the
question of the " incapacity " of railway directors
and government contractors to have seats in the
Corps Legislatif. Three days ago it only relied
upon the negative precedents of bad times, and
reproached the Temps for presuming to anticipate
a debate in the chamber—just as if it were not
the office of the press to aid the representatives of
the people by pointing out abuses, and suggesting
arguments concerning them. Better advised, the
Pays now returns to the subject in a manner more
worthy of serious notice. It says it has a very
learned opinion, the publication of which, for want
of space, it must defer till to-morrow. But mean-
while the gist of the opinion is that the imperial
constitution declared no " incompatibility "
except the case of a paid government func-
tionary, and that therefore the law of 1849,
which has been insisted upon, is repealed
by implication. This is no doubt the leading idea
which M. Chaix d'Est Aug° will be instructed to
sustain. But there is much to be said on the other
side, and if only fair play can be had, it is a very
pretty quarreL
It is stated that the return visit of the Queen of
Spain to the Empress will take place in July, 1864.
The Nation gives a totally new version of the
mission of the Empress at Madrid. It professes
to have heard from Rome that the French army is
about to evacuate the Holy City and return to
France, leaving only a garrison at Civita Vecchia.
As part of the abangement the Empress has ob-
tained a promise from the Queen of Spain of 10,000
Spanish troops to occupy Rome. The Nation, and
small blame to it, gives this news with "the utmost
reserve."

The Bourse was very bad. The Bente has now
fairly lost the figure of 67fr., and was quoted at the
close at 66fr. 90c., both for cash and account, with
a fall of 20c. Mobilier, which closely follows the
Bente, fell 31fr. 25c. It was rumoured that the
bullion in the Bank of France has sustained a
Luther decline of forty millions siuoe the last
returns, and that the rate of discount would be
raised to-morrow ; some people, however, doubt
whether such a measure will be taken on the eve
of the 31st of October, when an unusual number
of bills will fall due. However this may be, the
speculators for the rise are thoroughly discouraged.
The Daily News is seized.

LONDON AND COLONIAL BANK (LIMITED).

The first ordinary general meeting of the share-
holders wee held at 1 o'clock, at the Ludo* Tavern ;
Mr. T. H. GLAD/170111h the chair.
The following report of the directors wee read by the Sa-
e9""
In meeting(MArdzehe ZereFhßooldedrs) for the flint time, the di-
rectors have much pleasure in placing before than • brief
statement of the general progress of the bank during
the short time it has been in operation. At the meeting
which it is proposed to hold in the spring
of 1864, as early after receipt of the half-
year's accounts as possible, the directors will pre-
out to the members • belancetheet, from which • correct
estimate may be formed of the working of the bank. At
Present, however, in consequence of the short time which
ham elapsed since the beak commenced business, they are
Only able to speak of the foundations being laid,
after much care and consideration, of that which
they believe gives promise of a permanent and
solid success. The directors have been less anxious
to begin hastily than well; and the shareholders
are convened at this stage of the bank's operations,
mainly in order that an opportunity may be given of
reporting the measures that have been adopted,
with • view to place the organisation of the
bank upon a sound and prosperous basis. A
branch was opened at Montreal on the Ist July last,
under the management of Mr. C. F. Smithers, late principal
sgset of the Bank of Montreal at New York, and formerly
inspector in the same institution. The selection of •
manager for this important post was confided by the
direction to one of their number, who visited Canada
to perfect the organimation of the bank in that
province in the of this year. Under
the management oifa2. Wthers, the progress of the
bank in 3lontreal bee been highly encouraging. The ac-
counts received to the 30th September, exhibited from fort-
night to fortnight a steady inertias" in the business of the
branch, and show that the manager has thus far justified
the high expectation formed of him, by the position he has
taken in this centre of banking operations for Canada.
It is the intention of the directors, as the capital is gratin.
ally called up, to open branches in Torontoand in other
parte of Canada, as well as to establish agencies in New
York and Chicago—a neoeseary connexion, which will en-
able thebut to secure its share of the ,vast
and yearly increasing exchange transactions origi-
nating in the grain-producing regions of the West.
At the 'elicitation of influential mercantile houses in the
British West Indies, it has been resolved to extend the
operations of the bank to those colonies, and arrangements
are now in progress for the early establishment of branches
in two of the most important islands, where the director'
have grounds to anticipate a very favourable field for bank-
ing operations. Permanent premises have bear secured
in Cannon-street, at • moderate rental, to which the
business of the bank will be removed early in December.
With the arrangements now completed, and in contempt..
tion. the director believe they have reason to congratulate
their fellow-shareholders on the prospects the bank has be-
fore it, and they have little doubt that ere long it will take
Its place among the prosperous banking institutions of this
country."
The CHAIRMAN in moving the adoption of the report
wished to say • word or two on the past, the present, and the
futures of the bank. The pest had been laborious
and anxious. The progress made during the last six
or eight months in Canada was satisfactory. The
bank had been placed on • solid basis and had the
fairest prospects of success. It would have been
easy to establish • great number of branches ; but such a
course would nob have been judicious, as the return was
sot likely to have justified the expense. The directors had
concentrated their efforts on places where they Gould
, exercise considerable influence. In Montreal and
the West Indies there was an ample field for
the employment of the company's capital; but
as opportunities arose and capital came in branches would,
it was hoped, be usefully established at Toronto, Quebec,
and other important places. As regarded the pre-
seat, he observed that the bank in Montreal was in • most
favourable position, having been well received by the mer-
cantile community there. More accounts had been offered
than were accepted, a good selection had been made, and there
was very good ground to look forward to a steady increase in
the ratio of profit, yielding • fair dividend to shareholder'
from that bank alone. As already intimated in the report,
the board contemplated operations, at an early period,
in the British West Indies, sod he believed the
result would be satisfactory. The future was very
mush in the hands of the shareholders themselves.
The directors bad taken no step without great forethought
and inquiry, and so far as human foresight could foresee,
they had hitherto taken no false step ; and, confident in the
capabilities of the book, they now asked for the support of
the shareholders while they were outleavouri,4 to place it
among the leading banking institutions of the time.
( Cheers.lN)
MP. GRAM CHAPMAN, a director, seconded the motion.
Mr. BOLTON could not understand why the share, of an
iestitutioe which had such good prospects continued so low
on the Stock Exchange . He should like to know whether
any shares had been thrown on the market by the dimmers.
The Stock Exchange estimate was perhaps the fairest cri-
terion of value. . .

Mr. BALMIER inquired what was the amount of money
received on current and deposit securities at Montreal, what
amount of capital wu paid up, and when there would be
another cal% . . . .

The Caarax►tr, in reply, observed that when that eons.
piny bad the poorest prospects its shares Were at the highest
premium, showing that t►e Stock Exchange estimate
was not reliable. (Hear, beer.) The Stock Eta:dulls
had in this case reversed the natural order of things, UDC*
with excellent prospects the shares were now at a discount.
(Hear, bear.) The easterners' balances at the last date
amounted to 17,4861. 18s. Bd., which for colooi►l banking
was a very fair return. In the colonies profit was
ehiely obtained, not, as in London, by means
of balances, bat through advances to customers.
The amount of capital which should be paid up
was 84,190/. ; the amount actually paid up was 711,2631.
The directors did not think there would be any immediate
necessity for a call. Probably another all of 51. per share
would be made early in the next spring. He added th►t
the number of shares bad by the directors bad been doubled
since last February. (Hear, hear.)

In reply to •question.
The CHAIRMAN said the profit earned duriog three mouths
at Montreal was more than enough to pay a dividend of 5
per cent, on the capital paid up.
A SRARCHOLDER—Then I suppose we may expect a
dividend very soon
The CHAIRMAN.—We must not commit ourselves.
(Laughter.)
The report was then adopted, and the meeting terminated
i•t the usual meaner.

GRAND TRUNK OF CANADA RAILWAY.
(THIS DAY.)

The half-yearly meeting of the shareholders was
held at 1 o'clock, at the Loedon Tavern ; Mr. E. W. War-
KIK, president, in the chair.
The repot t, which had been previotudy circulated and
adopted, having been taken as read,
The CHAIRMAN moved its adoption. He said during
his recent visit to Canada he was impressed with
the truth of as observation sometimes made to
him by his colleagues that be did not take a sufficiently
hopeful view of the future. He found the commercial poet.
Coo of the line very satisfactory and • disposition on the
part of the people of Canada to support it. The discipline
and organisation of the line showed improvement,
and that weak point In American railways, the
permanent way, was being amended on the beet
mechanical and engineering principles. As regarded
the peat almost everything seemed to him to have
turned on the working expenses. The Grand Trunk had
been worked as high as 85 per cent , the cost was now
reduced to 63 per cent. ; but if the line bad
been worked ail originally estimated at 44) per
cent., there would have been amply sufficient to pay
the interest of the bonds and yield • dividend. (Hear,
hear] A railway in Canada could never be worked es cheap
as railways in England ; but nevertheless Mere was
reason to hope in the future. The increase le the
traffic receipts of the last halt-year was 51,3471.,
which was earned in face of a saving in expenses of 9,339!.
Therefore, practically speaking, the profit of the 'lndere*.
king in the halt-yen showed an increase of 60,0001., or
nearly 100 per cent. In excess as compared with the cone-
eponding half of 1862. These facts gave them grounds to
hope that by steady persistence in a policy of industrial
economy they would surmount all their difficulties, and
attain a satisfactory position. (Cheers.) Under these dr.
cunist&noes he could not help regrettiog the renewal of
those personal attacks which bed done so much to injure the
concern. There was plenty of traffic in Canada for all the
lines—and by traffic he meant that which would pay the rail-
way companies—if the rates were fixed in a proper manner.
He then cited Canadian traffic statistics in support of this
view. Coocorrently with the increase of the water traffic
them was a large and steady increase in the railway traffic.
Thus far their own traffic bad been conveyed with inade-
quate redline stock, and means must be adopted for supply-
' mg the deficiency. As regarded their leases of other
lines, he observed that the loos on the Atlantic and fit.
Lawrence line was reduced Is the last half year to 6,4931.,
and that on the Detroit and Port Huron line to 3,5001.; and
he hoped that as the List-mentioned line there
would, in the current half-year, be no loss whatever.
' They mast look chiefly to an increase of &iridiuml
pomade in the west for a further Menem of
traffic, and there were strong indications that that
source of traffic would be very productive. There was a
very large archaise of traffic now with all the meters
States, and en this eeeonat an saudgamation with the
Montreal and Chemplida Company had bees proposed
and would he trusted be sanctioned by the Greed Trunk
Company. Ai rangunente baying a similar object were ,
also in coutemplation is emersion with the Buffalo
and Like Huron Oompael. Referring to the terms of the
prisMl seryke. be said that having failed to obtain jaatkis
in the ordinary way, the board presented to the Governer-
General what was termed " • petition of right,"
power to have their claims beard sad adjudicated in a
of law. That was a farm of petition which, it ap-
peared, wee never retard in this aurally ; but be
regretted to say that he Curds it had been ris.
jected. (Cries of " Shame I") Siam the postal
service was first undertaken Dropoutsl revenue hadincreased
from 200,000/. to 700,0001., and the population acid wealth
a

of the colony hal proportionately increased. The remit
the muse punned by ths Canadian government sad. lapi
Ware wu that the securities of Canada stood lower in
market that those of nearly all the other colonies of Grst
Britain. (Rear, hear.)
[The meeting wu proceeding whoa we went to paw I

STANDARD BANK OF BRITISH SOUTH AnicA
(LIMITED).-(THIS DAY.)

This afternoon an extraordinary general month,'
of proprietors in this bank was held at the office. in Can 50:
street, for the purpose of pushily a resolution confirming
certain alterations io the articles of association agreed tent
en extraordinary meeting held on the 2nd instant, with the
view of making it optional instead of compulsory en 4e
Pert of the chief branch at Port Elizabeth to cash the omen
issued by the other colonial branches of the bask, thee
avoiding the necamity of that branch always keeping is Mad
&larger amount of gold than might be necessary for itionn
purposes ; and also to alter the date of making up the..
counts of the several branches from two months to six
mouths before the general meeting in London, se explained
at the previous meeting.
Mr. STENOOOSE presided, and proposed the necaury
onofinnatory resolution, which was seconded by yr.
Wuxi's, and carried unanimously.

THE ASYLUM FOR IDIOTS, EARLSWOOD, Rs.
HILL, SURREY.—( THIS DAY.)

The autumnal election in connexion with thia
charity took place this day at the London Tavern, libbers.
gate-street. The proceedings were presided ore, by Mr.
Alderman ABBlini, who, in opening the business of the gin
stated that the board of directors bad resolved on electing
the eame number oa this 00=1400 as was elected at the
spring election in April last, namely, 23 for the ordiearr
period of five years and five for life. He also stated
that the board was greatly encouraged by
generous support which the, charity had received Lam the
public, and they ware in hopes that the subscriptious woalg
soon justify them in increasing the number of admiagions.
He was glad to my that the debt on the building had been
reduced from 20,000/. to 9,000 i., and It was intended in the
course of the ensuing year to make a special effort to baye
that amount entirely clawed off. The board had therefore
the greatest confidence that all the friends of the
charity would join with them in doing their
utmost to accomplish that most desirable object.
as, were the institution free from debt, its benefits could
be extended toe mach larger number. There were at pre-
sent nearly 360 children in the asylum. and there being oe
the list of candidates for admission ou that occasion no less
than 117 for election for fire pan and 15 for life, showed
that there was ample scope for an extension of their npo.
rations.

The eHLIRILIN then declared the poll to be opened, when
the election was accordingly proceeded with.

FIRE IN THE CITY.-(THIS DAY.)

A destructive fire broke out about 5 o'clock
morning at a tarpanling manufactory, carried on by Mears.
Lone and Reeve, situated in Bleclt•horse-yard. Aldute.
Strange to say its outbreak was seen from the outskirts
of the City before it was known in Aldgate, arising
from the circumstances of the premises being is
confined court and hemmed in by other httildiags. The
brigade of the City stations were called out by thew
quartered at distant stations, their telegraph askisg,
"There's a light of a large fire in the direction of Tower-hill,
whet is it"An immediate despatch of engines sad tore
took place, including four land steamers, and on their
reaching the spot the whole of the upper portion of the
factory was found in flames, and much anxiety prevailed is
case the fire should extend to the adjacent houses. Owing
to the force employed the surrounding property was pee
served, but Messrs. Lane's premises, with their contents,
were entirely destroyed. The origin of the fire wu not
explained.