The Express.
London, England, 1867-07-04 00:00:00

TRIS tNIERI*PTCT OP 4IR MORTON PETO.

If the Herald might hazard a forecast, it would say
that an interminab'e series of law and Chancery suits
must now be looming in the not-distant future, and that
the hearts of learned gentlemen of the long robe ought to
be rejoicing over the prospects of big briefs, long causes,
and 'heavy fees. Marvellous are the dealings of modern
monetary magicians, but even with them it is somewhat
strange to hear of accounts of the same transactions in
which one party claims a balance of 380,0001., and the
other makes a demand 6,660,0001. Yet this is, it appears,
the actual condition of affairs, as represented by Peto, Betts,
and Co. on the one hand, and by the directors of the Lon-
don, Chatham, and Dover Railway Company on the other.
Meanwhile the London and Brighton amalgamation fails
to inspire confidence, or to stay the flownwanl tendency of
quotations. The feeling of apprehension affects all kinds
of stocks, good, bad, or indifferent ; and that we have
even now heard the last or the worst no one seems to
know or ventures to say. We are paying for the inflation
of the past by a more than proportionate collapse in the
present, and, as yet, we bays but slender ground for ex-
pressing aught but the faintest hope of a better state of
things in the future.

In the interest of shareholders and creditors throughout
the country, the Telegraph would interpose a suggestion.
The time for the half-yearly meetings approaches. Let
the shareholders generally take that opportunity to in-
sist, first, upon a full and explicit statement of the com-
plete liabilities ; and, secondly, on an immediate cessation
of works that are not indispensable. The discredit at pre-
sent attaching to speculation of every sort, the collapse of
so many institutions that profited by fostering railway en-
terprise, and the embarrassments of contractors, who, for
the moment, ►re out of the field, render each an action on
the part of proprietors peculiarly easy. There is really no
temptation to embark in new expenditure, and if directors
simply confine their effort. for a time to improving the
traffic and the arrangements of the existing lines, the eye•
tem will secure that rest which everyone acqu►inted with it
pronounces to be essential to the return of prosperity.

We are authorised to state that in consequence
of the very alarming reports which have reached
Europe respecting the Emperor Maximilian, first
cousin to the Queen, her Majesty has decided on
putting off the state ball ordered to take place at
Buckingham Palace to-morrow (Friday) unless
an official contradiction of the reports should be
received. The Queen will, however, hold the
review in Hyde•park should no confirmation arrive
of the news of the Emperor's death, being unwil-
ling to cause the disappointment to the public
which a postponement would occasion.
A meeting of the Neutrality Laws Commissioners
was held yesterday. Present —Lord Cranworth, Lord
Houghton, Sir George W. W. Bramwell, Sir Roundel!
Palmer, M.P., Q.C., Mr. Travers Twigs, Q.C., Mr. W. V.
Vernon Harcourt, Q.C., Mr. W. H. Gregory, M.P., and
Mr. W. E. Forster, 1.P., Mr. C. S. A. Abbott, attached
to the commission, and Mr. F. P. Onulow, secretary, were
also present.
Yesterday morning the Bishop of Rochester pro-
ceeded to Kidbroke, ne►r Blackhe►th, and consecrated a
new church for that district.

CavaTAL PALACi. —Although the weather early
this morning was rather showery, it seems likely to dear
up by evening ; and the management has decided that the
firework display announced for this evening shall take
place. The corridors and galleries within the palace from
which the fireworks may be comfortably witnessed render
it almost independent of weather. The display has been
designated "Popular" from the fact ct the charge for ad-
mission having been fixed at the ordinary one shilling. It
will commence at half•paat 9, concluding with the illumi-
nation of the fountains.

Tun FiNILAN CONVICTS.—DUBLIN, WZDSZSDAY
NIGHT.—Bark., M'Catierty, Duran, M'Clure, and fourteen
others, convicted at the recent special commission, were
conveyed by the gunboat Ernest to England today.