The Express.
London, England, 1862-08-08 00:00:00

TREES YEAR OLD BIENNIAL STAKES. One mile

and a half.
Montebello, Humphrey, Beeohy Heed, Him Vivian,
Whirl o, John oVaunt, and Claveriey are here.
Annivio.—Biondella, Witch of Radar, Britannia, Paste,
Walpole, Dinah f, Village Lad, Odin f, Palm Oil, Roes de
Clam, Right Reverend, Freeholder.

GRAND TRUNK OP CANADA RAILWAY.
(THIS DAY.)

A special general meeting of the proprietors was
held at noon, at the London TitVara, Mr. T. Baurso,
M.P., in the chair, for the purpose of considering
" The Grand Trunk Arrangements Act, 1862," pared at the
last aession of the parliament of the province of Canada,
and " for the purpose of accepting the said act in the man-
ner and as provided in the 3Ath section of the said act."
The reports of Mr. Watkin, the special committtee,
were let en as read. _ .

The Cnartmare commenced with some general observe-
Monk on the present position of the company. Referring to
the accounts presented at the last half-yearly meeting he
remarked that in comparison with the correspooding
accounts of 1860 they were very eocouiaging. In the last
six months of 1860 the net profits were 62,3111. ;
in the corresponding period of 1861 they were
95,7071. The accounts for the first six months of 1862 would
soon be received, and be believed they would show a profit
of 64,0001. against 46,0001. in the last half of 186 L The
traffic sad finances of the line had been materially
affected by the war; but the figures he bad given were
such as to justify confidence in the future, The accounts'
received from the new manager of the pmgrw of the
reorganisation of the working system and of theintroduction
of economical reforms motioned to be of a most satisfac-
tory character. This improvement was due in • great
degree to the able exertions of Mr. Watkin ; and
it must gradually but surely affect the estimation
in which the line was generally held by the
public. There was an impression in America that
the shareholders and bondholders were all prepared to
eater into a reasonable compromise ; and it was for the
meeting to say whether, by adopting the bill, they would
continue a career of progressive improvement, or whether,
by rejecting it, they would enter on a retrograde mama,
mid cause a seizure of their property, and a stop-
page of favourable operations. This was no new scheme ;
it, was a plan approved at two successive meetings, and he
strongly deprecated a comes as inconsistent with decisions
already given as prejudicial to the true interests of the com-
pany. He thou referred at some length to the postal
service, and an intimation received from the Canadian
government, that they could not carry out what was sup-
posed to have been • settled arrangement as regarded
terms, and expressed his confidence that if the creditors of
the company acted in harmony with the shareholders,
thereby showing that the company was in a position to do
what it undertook, the Canadian cabinet would be
prepared to do justice in this matter. Let the
act be unanimously approved, and remittances from
°enacts for interest might soon be expected; while, on the
other hand, if they lapsed into their state of • year ago, their
position would become almost hopeless. He then spoke of
the necessity of introducing more of the commercial element
into the Canadian board, which had hitherto been open to
the objection that it was somewhat political.
Mr. CRAWMRD, M.P., a director, contrasted in detail the
position of the company at present with its position • year
sod a half ago, when he said it seemed on the point of break-
ing up. By the adoption of the act confusion would be ex-
changed for certainty, and this would have been brought
about by the proper and business-like view which ail classes
of creditors had taken of their position sod rights. The
act would he one of security in relation to the future. He
admitted that if the act were adopted a large increase of
traffic would be required to pay all the bondholders their
interest, but let the bondholders consider what would be
their position if it were not adopted. (Hear, hear.) In the
one case there was a reasonable prospect of receiving a re-
duced rate of interest; in the other the prospect would be
almost hopeless. He concluded by proposing a resolution
Rea rag approval of the arrangement sanctioned by the
aa. (Cheers.
Mr. MORRIS, as the representative of a unanimous
meeting of bondholders, had great pleasure in seconding the
resolution. (Cheers.) The practimlquestion for the meet-
ing was whether the act fairly carried out the scheme of the
committee. The sole difference between the two was, that
whereas the scheme of the committee fixed the period at
five years, the act extended it totem years. On that point the
bondholders ought to be the beat judges. Without this
act the loud expenses would, in the next ten years, eat up
all the receipts. (Hear, hear.) Let those who objected to
the act produce some better scheme. But for the extension
of the period this question would have been settled in
December last, and there would have been no necessity to
bring it before another meeting. (Hear, hear.)
Mr. Moco, of Bristol, read • protest of twenty bsnd-
holders against the adoption of the act, adding that he did
sot himself object to it. (" Hear, hear," and cheers.)
Mr. MERCER believed that this scheme was the best one
that, under all the circumstances, could have been devised.
(Loud cheers.)
Mr. WAINWRIGHT thought that the preference bond-
holders bad not conceded enough in agreeing to take five
instead of sit per ceet., while the other bondholders were
cut down from seven to three per cent. (Cries of "Quer
tiro.") In the one case the prospect of benefit was imme-
diate, in the other remote, and the balance of advantages
was entirely in favour of the preference bondholders.
Mr. 0011TRIARX thought that the bondholders had not
been sufficiently consulted, and moved an adjournment of
the meeting till the 25th instant, in order that the different
classes of bondholders might all be separately convened in
the interval. As regarded the period fixed by the act for
the payment of interest, be believed that twenty years were
more likely to be required for that purpose than ten.
The amendment was not seconded.

Mr. Orrin could not imagine that the meeting would
be so mad as to reject this scheme. (Cheers) As
regarded the postal quartke, be contended that the
Canadian government bed been guilty of a groin breach al
faith. (Great cheering.) He believed that if that concern
were carried on in future as a purely commercial under-
taking, it would soon yield a remunerative return. They
must not henceforth carry prime ministers and other
influential persons for nothing. There was a passage in Mr.
Watkin'a report which well pointed out evils of that de.
scri_ption.
Mr. NEWIIATICH regarded the point just adverted to
as one of the utmost consequence to the company. (Hear.)
He strongly censured the Canadian government for
reversing the arbitration instituted by their predecessors
with regard to the portal service. If the act were
adopted the company would be from this time an
English one, and would shape its course accordingly. (Hear,
hear.) He holed the Cao•diao government would be in.
tormed that they were no longer disposed to be imposed
open, and that the stick was now in the company's
hands. (Cheers.)
After some further discussion the resolution was carried
almost unanimously.

LANCASHIRR AND YORKSHIRE RAILWAY Dint-
DiaD.—We have received an official iatirnation that at a
meeting of the directors held yesterday, it was decided to
moommeod to the proprietors at their ~it meths( to
declare a dividend for the halfiesr at the rata d 31 par
cent. per annum, less Meanie tax.
FORTY YRAHR—L•DCIIihiDS, the premier county
of England for numbers, and five other counties—Durham,
Monmouth, Stafford, Surrey, and Warwick—have more
than doubled their population in the last 40 years. Three
loom—Middlesex, Chester, and the West Riding—have
nearly doubled their. in the mine period. One Welsh
county —Gbunorgati—hrui more than trebled its population.
THE Cnors tN lainrsti.—The anxiety of the
public has been kept on tip-toe for the past week, owing
to rumours relative to the potato crop, ale mints hairier(
, circuLited reports which calmed a sensation of undid-
nem to take • of the public mind. We have
been most mlar In our inquiries from trustworthy
parties from all parts of the eounty, and there •
general conturreoce in reporting that, no doubt, there km
hoonappearance of the " blight," which has shown its
fatal on the leave, of the potato, especially in oi-
tered places; but in very isolated cases only has it extended
to the stalk or tuber, confining its poison to the centre or
outside of the leaves. Complaints have been made of the
! damage Inflicted by the storm aloes the exposed poetises
of the seacoast, by which the stalks were swept away; is
this respect, we believe, serious hurt has been inflicted, but
this, of some, is oily applicable to the west and berth-
, weft meet of Mayo. In ipmeral, we may with osefidemes
smart that the potato promisee to give as abundant and
early yield. The best dseariptioes are sold at preset in
our market at from 4d. to Id. per storm. The oats sad
wheat amp Is pregressieg least favourably. but saran
farmers ocomplats of the shortness of straw, which is owing
to the ealrhiew at the weather for months past ; but are
warm mouth would soaks op for all oriniets. Green
crops is general look well, sad a few dry weeks would
mare a *apply of ftiel.—Yespe Constitution.
. Mass as of Pants.—lt would seem that the
rearview et *We fay, Gaiipaessil is also making way is
kis ex-palest, galleon. Oiseasettl, of Bologna, was
lately teareled to YAM. Demeedea Deposal. The wor-
rier; eertificate wee remind by the notary Calinalrelli.
The witnesses were Dr. lead and the .:lank Pampa
Rawl.