The Express.
London, England, 1867-09-06 00:00:00

NURSERY PLATE. T.Y.O

Orion, Slander, Wild Blood, The lann, Preeocione,
The Mariner, Vortigern, Herennhinue, Redivitus, Iklle
Seuvage, Manton, Irwell, Triana, Veto, and Seaman are
here.

MIL PLATE. 041 mile.

Queen of TruU7pe,9;4ll;; Tumbler, tit 516; Rustic
Beauty, let 121 b ; Aggravator. Tet 121 b ; Catherine Hayes,
7.1 ; tippled, let 716; Gipsy Queen, 714 71b ; Duet,
7st 416 ; Bleach. of llicldkbie, 7st 4lb ; La Sorrentina, ist
21b ; Cromwell, Get 1216 ; Laura, bet 416 ; Van Diemen,
Est ; Trams, Set 101 b; Bea Flower, bet 10Th. All are
hers.

ABINGDON BTAKE/3. T.Y.C.
Orion, Formosa, Liquidator, The Mariner, Van Dieman,
and Prince George are here.

SELLING HANDICAP. T.Y.C.

Rinaldo, Net 121i:;Laura,ti;i741i:;; Texans, i, Bet 41b ;
02Pre7, 7st 91b; Monmoutlubire Laos, hi 91b; Triple,
74 7lb ; Irwell, Tat 41b. All are here.

SCURRY STAKES. Half • mile.

Watchman, Peggy, Magna, Rapine, Variation, Rose des
Al pes, Castanette f, Billet, Osprey, Broadheim, and Zeo-
lite are here.
CI`LRAM STATERS. One mile.
Moonbeam, Drum, and Tina are here.

LEICESTER MEETING.-(THIS DAY.)

WELTER HANDICAP PLATE. One mile.

Musketeer, Jolly Jack, Deceit, and Elegance are here.
CASTLE DONNINGTON NCRSERY. Three quarters

of a mile.

Beauty, Red Cont)n, Liquidator, The Salvor, Meliora,
Sirocco, Clara de Clare, Furious, Pero, Demon, and Cornet
are here.
LICENSED VICTUALLERS' PLATE. Three quarters

of a mile.
Rejoinder and Gentian are here.

BOHOCGH HANDICAP. Halt mile.

Patio, Alice Lee, Wile. Cleopatre, Veda, Gretna, De.
wirer, The Squire, Amaineboine, Timolane, and Cornet are
here.
HER MAJESTY'S GUINEAS. Three miles.

Goodwood, Sirocco, Assineboine, Deceit, Rupert's dam c,
Musketeer, Elegance, Skylight, Paulina,Little /Ragamuffin,
and Young Lord are here.

ATLANTIC TELNURAPH COMPANY.

(7.4 ii s it i. )

An extraordinary general meeting of share.
holders was held this afternoon at the London Tavern;
Sir C. LAIIPSON, the vice-chairman, presiding.
The following report was presented to the company :
"The business of the present meeting is confined to the
declaration of a dividend, in orcLr that the warrants may
be is•ned with as little delay as possible. It may perhaps,
however, be necessary for the shareholders again to be
celled together during the autumn. The large sum of
205,3171. has been earned by the cables during the past year.
Towards the close of the financial year, the revenue has
had to bear the expense of two accidents to the cable of
1866, both it is believed the result of crushing by icebergs.
The last accident, now being repaired, occurred only four
days before 27th July. The Anglo-American Company
have deducted 21,891 W. 16e. from the revenue in respect of
these two events, and this charge not having as yet been
agreed to by the Atlantic Company, has for the present
been carried to a suspense account. Notwithstanding
these large deductions, there remains to the credit of the
revenue account a balance amounting to 28,1331. its. 5d.,
and out of this the board propose to declare a dividend for
the year ended 27th July, at the rate of 4 per cent. free
of income tax, upon the First Eight per cent. Preferen-
tial stock, p►yable on and after the 30th instant.
The directors of the Atlantic Company in pursuance of
their proposed policy, which met the approval of the
shareholder, at their last meeting, arranged an interview
with the Anglo-American directors a few days after the
end of the financial year, for the purpose of discussing
reduction of tariff. The directors of both companies
present agreed upon a scheme to be recommended
to their respective boards, and on the sth of August
the Atlantic Telegraph Company wrote to the Anglo-
American Company setting forth the proposed reduction
of tariff, and strongly recommending its adoption. They
are sorry, however, to state that these concessions to the
public were negatived by the heard of the Anglo-American I
Company. The Atlantic Company have also subsequently
failed in their renewed endeavours to induce the Anglo-
American Company to unite with them in the adoption
eitht rof the proposed, or say other practicable form of
reduction." _ _

In moving its adoption, the VICII•CHAIRMAN expressed
hie deep regret at the absence of Mr. Wortley through
indisposition, and apologised also for the rest of his
brother directors, who had all left town. The present
financial situation of the company was as follows : —The
net earnings of the company for the year bad been
153.1341., Aber deducting 7,0141. for back interest on
bonds issued in 1864, which charge would not occur again.
The sum of 153,000/. would pay an interest of six percent.
on 2,400,000/. (which would be about their capital if they
paid off the Anglo-American Company) and leave 16,0001.
fora reserve fund, taking into account the amount charged
for the two accidents—contingencies which it was hoped
would not soon occur again, azel the 7,014/. for back inte-
rest. The net earnings without these deductions would
have shown about 182,0001., which would pay 7 per cent.
on the 2,400,000/.,leaving for the reserve fund 14,0001. ; and
had the company been in possession of their cables even the
153,000/. of earnings would have paid 8 per cent. on the
600,0001. first preference stock, and 8 per cent, on a second
preference stock of 1,200,000/., being 14 per cent. for the
600,000/. of old shares. The result of the year's proceed-
ings had shown the great advantage of having two cables;
and he thought that the occurrences which had led to
the !eying of the second bad on the whole turned out well
for the company.
The Seenrraer, at the request of Sir C. Lampoon, then
read the voluminous correspondence which had taken place
between this company and the Anglo-American on the
subject of the modification of the tariff.
The ViCE•CHAIRNAN, resuming, said that the prefixal
of this company was to allow 15 words to be sent or 5
guineas, instead of the present rate, which was 101.
fur 10 words, the press being charged half-
price. The Anglo-American proposition was to charge
7s. lid. per word, the effect of which would be
to reduce the cost of an average message to about 2/. 10s.
He believed that such a proposal would not receive the
sanction of the Anglo-Amencan shareholders ; and at all
events he thought the Anglo-American directors should
be more considerate of the interests of this company. The
traffic varied very greatly. In one month it bad averaged
1,180/. per diem, and in another 6531. He believed that the
redaction proposed by the Anglo-American would diminish
their earnings to an extent that would barely leave that
company their own dividend of 25 per cent. He trusted
that something would be done to put down the system of
packing messages, which he conceived might easily be done
if the Anglo-American would only take the proper pre-
caution. He congratulated the meeting on the passing of
an act of parliament which Would enable them to raise any
amount of capital they might need, and he trusted that an
opportunity would, before long, offer of availing themselves
of it. (Cheers.)
In answerto a SRARIHoi.ngP,

Sir Cowls added, that the difference between the two
proposed tariffs was that the Anglo-American proposed to
reduce the charges to 7s. 6d. per word, whereas this com-
pany would reduce it to 7s. ; but this company did not
wish to take any message for less than five guineas.
(Hear, hear.) He wished also to say that he considered the
charge for repairing extravagant ; and the directors had
accepted the sum paid over to them with prejudice to their
claims.

Mr. CATOR said that if the tariff bad been reduced to
5/. be should himself have sent five messages for the one
he now sent. (Hear, hear.) Mr. Cater also added that
be bad reason to believe that the company was losing •
great deal of money by the packing system. In the mean-
time he was satisfisd that they would lose thousands a year
unless the two oonspanies' could find some way of pulling
better together. (Bear, bear.)
Sir C. 'AMMO( said the directors had offered to amal-
gam►te at the market price of the respective stocks, and
to retire altogether from the management of the concern ;
but the Anglo-American Board had not the slightest dis-
position to meet their views.

.
A SkIAREHOLIMR thought that no good would be .lone to
thin company till it had got rid of the Anglo-American
Company. (Loud cheers.)
After some further conversation, the resolution was
agreed to; end • vote of thanks to the chairman and
directors concluded the business.

DREADFUL MACHINERY ACCIDENT.—Geo. Sykes,
a single man, t 1 years of age, working for Messrs. George
Mayall and Co., cotton spinners and manufacturers, Wesley
Brow, Slossley, woe killed in a most dreadful manner in the
mill about 10 on Monday morning. It seems the deceased
was engaged in taking a strap oil • shaft in the cardroom
when he was caught and hurled round the shaft for about
two minutes before the engine could be stopped. The
shaft makes 70 revolutions per n.inute, so that the doomed
would be hurled round the shaft 140 times, and he wee of
course quite dead when released.
THE SULTAN'S Toys. IN EUROPE.—The keeper
of the Hotel Zinn Rieeen, at Cobleatz, where the Sultan
made a short stay on his homeward journey, has been deco-
rand with the Order of the Medjidia, and his wife has re-
ceived a valuable brooch.