The Express.
London, England, 1866-04-24 00:00:00

LATEST SPORTING INTELLIGENCE

(BY KLICTUIC TELSGRAPH.)
CHESTER MEETING.-(THIS DAY.)

Goat
Torreas

GROSVENOR STAKES.
Selim walked over.
EATON PLATE.
Pantaloon .•.
Osione •• •
Goldylocks
7 ran.
MOSTYN STAKES.

Rescue . .
. .
Gentian . .
.. ...
Benuelore . . • •
•
CHESTERFIELD STAKES.

1
.12 tit
° IS;
2 18t
, 3

Rococo
King Hal ...
Aldcroft . .
9 ran. Won by a head.
HANDICAP PLATE OF 40 SOVS. T.Y.C.
Queen of Trumps, 9st 51b Godmersham, Bst 21b ;
Dawdle, 7st 61h ; Charming Woman, 7st 41b ; Glendusk, ei
7st 21b ; The Count, 7st ; Wild Bee, Est fillo ; Caithness,
tist4lb ; Northill, sst 91b ; Strayaway c, sst 91b. Allare here.

WYNNSTAY HANDICAP. Nearly a mile.
Skylark, Pantaloon, Skirmish, Exoeller, Lucy Long, I Si
Juliet, Rigoletto, Persuasion, King Arthur, Selim, Lady '
Vane, Murillo, Jetty Treffs, and Sheve Came are here.

BETTING ON THE COURSE.
CHESTER CUP.
7 to 4 apt Redcap (t freely)
100 to 30 Delight (off)
7 to 1 Dalby (t)
100 to 7 Treasure Trove (t)
100 to 7 Ihuagah (t)
100 to 7 Sandal (t and off)
DERBY.
20 to 1 Vespasian (t f)

ART UNION.-(THIS DAY,)

The annual general meeting of the subscribers
was held this forenoon in the Adelphi Theatre (by the
kind permission of Mr. B. Webster), Professor DONALD-
SON occupying the chair in the unavoidable absence of
Lord Houghton, the newly-elected President.
Mr. GEORGE GODWIN, one of the honorary secretaries,
read a very lengthy report, from which it appeared that
the subscriptions for the past year had amounted to
13,6841. 2s. 6d., being 1,941/. above that of the preceding
year. The sum of 7,%4/. had been set apart for prizes,
The cost of the plate of " The Woman's Conquest " had
been 3,7691. 10a. 9d., and the general expenses had
amounted to 2,656 f. ls. 9d. The reserve fund now
amounted to 12,$10!. Since the foundation of the Art
Unions the large sum of 340,0001. had been distributed
amongst 'artists. For the ensuing year an engraving,
by Mr. Lewin, from a picture by Mr. Le Jeune, en-
titled, "Pity, the Plate is at the Press," is in progress,
and will be ready for delivery early in the next year.
The CHAIRMAN moved the adoption of the report, dwell-
ing forcibly and eloquently upon the love of art engendered
amongst the people by the institutions of the Art Union
and similar societies.
CRUICKSHANK seconded the motion in a humorous
speech, and the report was unanimously adopted.
F Sir F. G. Moos moved a vote of thanks to the honorary
secretaries, Messrs. Godwin and Pocock, for their zealous
services, which was passed by acclamation.
The drawing of the prizes was then proceeded with.

AUSTRALIAN MORTOAGE,LAND,ANDPINANCE
COMPANY (LIMITED).-(THIS DAY.)

The annual meeting of the shareholders was held
this afternoon at the London Tavern ; Mr. T. M. MACKAY.
in the chair.

The report said that the anticipations expressed by the
directors in January last were more than realised by the
results of the operations in 186.5. The investments
in tho oolonio• of Viotoria, Now South Wolin, South Aus-
tralia, and Queensland had reached, on 31st December last,
the date to which the accounts extended, 409,589/. Ex-
cluding the collateral advantages which the employment of
this sum produces to the company, the interest thereon in
itself created a revenue which places the company in a
position of substantial strength. The amount borrowed by
the company in this country on debenture and other secu-
rities was 13.5,964/., and the sum was continuously being
increased. The arrangement entered into in February.lB66,
with Messrs. Rd. Gibbs and Co., for the assumption by the
company of securities previously held by that finu, had
been fully carried out, and the sum invested by the com-
pany in the colonies had been since increased to
the total before mentioned through the instrumentality of
the company's agents (the late partners of the firm).
The net profit of the year 1865 amounted to 23,2151.
136., or about 22 per cent. on the capital possessed by the
company ; on deducting from this amount 6,5621. 10s., the
dividend paid to June, there remained available
for present application, 16,653/. 33., out of which
the directors recommended the payment of a dividend,
for the six months ended December, at the rate of 12/. 10s.
per cent. per annum (making that rate of dividend for the
entire year) ; the application of 478/. 50. Oil., or 10 per
cent. to the reduction of preliminary expenses ; and the
carrying of 9,5001. to reserve, leaving a balance of 112/.
7s. 3d. to be carried to the 1866 account.

The CHAIRMAN, in moving the adoption of the report,
after speaking of the satisfactory nature of the report, ex-
plained the discrepancy between the item of " invest-
ments" set down in the report at 409,5891., and the item of
" investments and advances on securities," by stating that
at the end of the year, advances had been made on
wool to the extent of about 100,0001., of which
82,000/. had since been realised by sales and, further
that acceptances to a large amount had been paid in the
IntervaL The Investments in the colony were, he believed,
of the soundest character. Although the company's de•
benture debt amounted to only 115,0001., it held first
mortgages to the extent of 253,000/., and second
mortgages to the extent of 66,000/. The se-
curities were in fact of the most satisfactory kind.
He added that for the fifteen or sixteen years
during which Messrs. Richard Gibbs and Brothers were
engaged in this Australian business, they never made a
bad debt—(hear, hear)—and he had no doubt that the
concern would continue to nourish. (Cheers.)
A SHAREHOLDER called attention to the fact that Mr.
Gillespie, one of the directors, had been a member of the
board of the Joint-stock Discount Company, and expressed
an opinion that although he was a man of high commercial
standing he ought to resign.
The CHAIRMAN replied that Mr. Gillespie's position on
the Joint-stock Board was quite exceptional. He did not
join it till the end of December, and took no part in the
transactions which had been so justly condemned. More-
over, he was the only member of the old board who was in-
vited by the committee of investigation to form part of the
new board. (Hear, hear.) He trusted that under these
circumstances the matter would not be pressed.
Mr. EAMES, as the mover of the committee of investiga-
tion referred to, concurred in the opinion of the chairman,
and said he thought nothing which had occurred ought to
prevent his continuance on the board.

The subject then dropped.
After a short discussion, a report was adopted, and a
dividend at the rate of 12 percent. per annum decLired.

The Prorincial Correspondence of Berlin says :

WAKEFIELD. "Count de Bismarck, who seemed to have been nearly
cured of his bad foot, has been attacked during the week
The select committee appointed to-day to determine the
with nervous rheumatic pains. His physicians have pre.
matter of the petition of Joseph Marsden and others
against the return of Win. Henry Leathern on the ground scribed absolute repose and complete abstention from
of bribery, treating, and undue influence, and praying that public affairs, especially as his sufferings are chiefly owing
the election may be declared null and void, met at 11 to . .
and fatiguing . . . .
his uninterrupted
o'clock ; Mr. Gregory in the chair. The other members of
the committee were Sir M. W. Riilley, Sir C. Russell, Mr. nem"
T. Hughes, and Mr. H. R. Grenville. MODERN LANGUAGES AND THE I:NITERBIMS.-
The counsel were :—For the petitioners, Mr. Pickering, Although as mere instruments of education the two
Q.C., the Hon. A. Liddell, Q.C., and Mr. W. H. Cooke, classical languages may justly claim a superiority, and
Q.C. ; for the sitting member, Mr. Giffard, Q.C., Mr. although our highest interests, as immortal beings, are
Shaw, and Henry James. bound up with the Greek language, yet, if we leave the
Mr. Rickerby, Q.C., in opening the case, stated that the seclusion of academic shades and cast our eyes on what is
election took place on the 12th of July last, when Mr. actually going on around us in practical life, we must be
Leatham was returned by 107 votes over 457 given for Sir blind indeed if we fail to discern the vast and increasing
John Hay. The number of registered electors was up- I proportions assumed by the importance of modern lan-
' wards of 1,000, and the population was 23,000. Mr. guages. Are our universities to continue either to ignore
Leatham was head of the firm of Leatham, this undoubted fact, or by a grudging and niggardly
ac-
Tew, and Company, bankers, of Wakefield. In knowledgment of it, to repel from their bosoms those
1832 he first offered himself for the representation to whom a mastery over several modern languages
of the borough, but finding that he had no chance, with- is a practical object, beside which almost all other educe-
drew. In 1859, he again came forward, and was returned I tional questions sink at once into comparative unimport-
at an election which had since become memorable by a I ance ? Why should not the universities strike into the
I majority of 3 over Mr. Charlesworth. The grossest bribery path thus indicated by Mr. Gladstone, and by the inatitu-
that ever disgraced a constituency was committed at that I tion of schools or triposes for honourable competition in
election, and the result was a petition, when Mr. Leatham modern languages, attract to themselves a class of men
Iwas unseated. On the motion of the committee, i that of all others would be most benefited by a residence
a commission was issued, and the result was within their precincts? Examinations, eonducted as those
that the writ for Wakefield was suspended for for classical honours are at present, would allow but a
a considerable time. Mr. Leathern himself was prosecuted i trifling advantage to that superficial and merely converse-
' for bribery at the York assizes and convicted. A. new writ tional knowledge which is gained by a residence abroad
was issued in 1952, when Sir John Hay stood and was re- during boyhood, and modern languages would soon be
turned, and at the last election Mr. Leatham was again I studied in so exact and scientific a manner, as to produce
a candidate and defeated Sir John Hay by a majority of intellectual and educational results only second to those
30. The learned counsel said he should be able to prove of the systematic study of the classical languages. —Edin-
that the return of Mr. Leatham was obtained by wholesale burgh &seise, new number.