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

TO THI ZDTTOE OF THZ EXPRZSFI.

Sir,—ln your paper of the 4th current you publish a
correspondence between Mr. Cresswcll, the gentleman de-
puted to proceed to Italy on behalf of the bondholders of
the Italian Irrigation Company (Cavour Canal), and Signor
Rattazzi, the Prime Minister of the Italian government.
The reply of Signor Rattazzi, made through the Minister
of Agriculture and Commerce, represents that the bank-
ruptcy of the company has been caused by the unwilling
ness of the shareholders to accept " the liberal proposal.
of the Italian government." I think it only Justine
unfortunate shareholders who have been deceived by the
Italian government that the British public should know
the tree cause of the company being forced into
bankruptcy. The Italian Irrigation Company wan
formed in 1862, under a direct concession from
the Italian government, which government guaranteed, as
stated in the prospectus, both principal and interest of
the capital subscribed. On the faith of this guarantee
bonds and shares to the extent of 3,000,00 W. were taken
up and paid for, principally by English money. It would
DOW appear that the Italian government nevfr carried out
the promises made in the prospectus, which promises
were sanctioned by the King and ministers, and passed

by tl.e Italian puliament, each bond and share
bearing the stamp and signature of a government
com =mimic, as a pledge of the government guarantee
The main canal has been in exercise since April, 1d66, end
up to the present tin.. the Italian government have not
paid the share or bend holders one farthing. The mow
queue has been tinx the company has been unable te
meet ite own etnogeinents, and a creditor, fearing, it is
supposed, that there was no chance of the Italian govern-
meat acting up to its promises, has thrown the affairs of
the company into bankruptcy, end Signor Rattani abso-
lutely refused to stay the bankruptcy. The British public
have this lost three millionsof money, nearly onemillies et
which has been actually received by the Italian government,
being the amount I..inte.l to be paid by the company tar
the purchase of the 0.,1 covernment canals.
Rumour states that ini:nvntial parties from Italy are
now in London eipie.ivouzing to negotiate a new Italian
loan. It is ttier,foi e to be hoped that the British public
will take warning tthfa the present instance, and that no
countenance will !s xiven to au y proposition of the kind
until the Italian to, rumens have honourably fulfilled
their engagement to the Itlian Irrigation Company.—l
am, he., UNFoRTUNATE SHAREHOLDER.

Sept'7.
Annexed is Mci,rs. Durant and Co.'s Silk Cir-
cular, dated ur 'ay :

We have to report another mouth of extreme quiet is
silk. The fourth steamer with new silk has arrived, awl
still no business upon any than the smallest possible male,
still apparently the same determined limitation of Res-
chime to the absolute requirements of the day. The prices
of China and Japan silk show an unusual margin in eon-
whom with Euro..r...n Ailk, but even this fails to indite,
business. The deliveries of the past month proved rather
less unfavourable that had been anticipated, but still as,
far from satisfactory—Japan furnished an important ter
ture. Bengal silk shares the general quiet.
- -

The subjoined on the hide market is from Messes.
Culverwell, Brooke, and Co.'s Price Current :
The bide market has been firm during the pass move
and stocks of salted hides being small full to ad
prises ha*. been paid. Hides.—Salted Ox end Cow.—
South American have sold more readily. Australian have
been in good demand. and have realised an advance of W.
Cape have brought full prices. East India kips have beat
in good request, and in the earlier part of the put month
advanced ;d. to Id. per lb. ; but at the last sales common
and inferior desc.iptiuns barely maintained late rates, and
were in some instances sold at a decline of W. per lb.
English market hid, s have been mane, and are quoted
dearer. The Leather Market.—A good demand is
es having been experienced during the past month
prices in some cases show a alight advance. North sad
South American Furs and Skins.—At the usual satsuma
sales the supplies of the principal descriptions were much
above the average, which operated in general adve
upon prices. In ccrupariaon with the correspondingktr-
son Bay Company's sale last year, the rates realised for
every sort, with the exception of otter, fisher, fur, seal,
and deer, show a fall of 10 to 25 per cent. Chinchilla
improved slightly.

SATURDAY ETECING.

Consols, which closed yesterday at Mi to both
for money and Tuesday's settlement, opened this
morning at the same quotation, and closed at 94f
to For the 6th of October, the last price was
94.1 to 1. The Thr‘zo per Cents. Reduced and New
Three per Cents. were quoted at 1 o'clock 9n to
93, ex div. The official business report is as
follows :—Three per Cent. Consols, for money, 94j,
; ditto for account, 94A, ; Three' per Cents.
Reduced, 92k, ex dir. ; New Three per Cents.,
92k, 3, ex div. ; Bank Stock, 230, 55 ; India Five
per Cent. Stock, 1121, 13; ditto, Five per Cent.
"enfaced" rupee paper, 104 ; ditto Bonds, 65..
prem.

MINES.-(THIS DAY.)

ONE o'Or.ooi.

The mining market is steady today, with a
moderate amount of business. Subjoined are
some of the present prices, viz. :—South Caradon,
380 to 400 ; Devon Great Consols, 415 to 425
North Crofty, 32 to 4 ; East Lovell, 71 to 8; North
Chiverton, 4to ; North Treakerby, 355. to
375. 6d. ; Prince of Wales, 50s. to 525. 6d. ; South
Frances, 30 to 32 : Clifford, 7# to ; West Chiver-
ton, 63 to 65 ; Drakewalls, 14s. to 16a. ; West
Great Work, 32 to 4 ; and Tincroft, 13 to 4.
In the market for foreign and colonial- mining
shares, Don Pedo and Chontales aro 2s. 6d.
better, at 1# to 11 prem., and 1# to 11
prem., respectively. St. John del Rey
are quoted 59 to GO ; Anglo-Brazilian,
Gto I prem. ; Pestarena, a to # prem. ; Roma
rande, # tn.} ; Anglo-Italian, to prem.; United
Mexican, 1 to 2; ; Frontino and Bolivia, Ito ;
and Port Phillip, i; to 1.....
The liquidators of the -Mineral Rights Associa-
tion (Limited) announce a first dividend of 12s. per
share out of the funds at present available.

BETTING IN Lo.NDON.—(THIS DAY.)

HALP-PAST TWO O'CLOCK.

Although several members had already taken
their departure for Doncaster, the muster to-day was a
good ono and a large awount of business was transacted.
For the Great Yorkshire Handicap 8 to 1 was fur some
time offered on the field, and Seville, Priest, and
Eredamante were each backed at these odds. At the
finish, however, Seville had the call, no more than 6 to 1
being offered, while 7 to 1 would have been taken.
Monitrees went op and down, 100 to 8 being
at one time offered without a response, and
then 9 to 1 taken. East Lancashire figured
at knocking-out prices, 100 to 4 being the final
offer. There was very little change on the St. Leger ; sto
4 was taken kindly about Hermit, while 2 to 1 was booked
and asked for about Achievement. Vauban was backed
for two or three brindled pounds at 10 to 1. Speculation
on the Cesarewitch took a somewhat wide range; but there
was not any great amount invested en any particular
horse. Closing prices :
GREAT YORKSHIRE HANDICAP.
6to 1 art Seville (off, t7to 1)
to 1 Pried (t)
100 to 12 Eradamante (t and off)
9to 1 Monitress (t)
100 to 8 Thalia (t)
100 to 8 Weather Star (t)
100 to 7 Knight Errant (t)
100 to 7 La Dauphine (off)
100 to 5 Viridia (off)
100 to 5 East Lancashire (t and off)
ST. LEGEP..
5 to 4 ages Hermit (t)
2to 1 Achievement and w)
10 to 1 Vauban it and off)
90 to 1 Julius (otf)
25 to 1 Challenge (off)
25 to 1 Fervacques (off)
CESAREWITCH.
20 fo 1 eget Blinkhoolie (off)
1000 to 34) Longbow e (t)
40 to 1 (t)
40 to 1 Maid of Mwham f (t)
40 to 1 King Victor (off, tsoto 1)
40 to 1 Sportsman (off)
SO to 1 Usurper (t)
50 to 1 Scarborough (t)
50 to 1 Miss Harriette (off)
500 to 5 Cannon Ball (t)
CAMBRIDGESHIRE.
40 to 1 agat Scarborough (t)

COAL MARKET.—(THIS DAY.)
Walls End Hatton. 20s. tkl. ; Walls End Lam',too,
20s. 3.1. ; Walls End Haswell, 20s. 9d. ; Walls End Tees,
20s. 34.; Walls End Hetton Lyons. 18s. 3d. ; Holyweal,
175.; Wylam, 175.; North Felton, 12s. 9d.; West Hartley,
18s. : Hasting's Hartley. 9d.—Ships at market,
26 ; at ma. 40.

SOUTHAMPTON, SEPT. 9.—The North German
Lloyd's steamer New York, from New York, passed the
Needles at LH/ p.m. to-day.
FATAL 03INIA'S Acetorer.—A shocking acci-
dent occurred at St. Helen's on Saturday night. A party
of workmen, who had been on • trip to New BriAliton,
were returning hoe..e on au omnibus, and, when close to
the end of their journey, the vehicle overturned. Two
men were killed and several others sustained dreadful
injuries.—Leeds AI ,wars.
It has been ti:ficialls stated at Woolwich that
extensive alterations and improvements are to take place
immediately in many of the departments of the Royal
Arsenal. A. number of new buildings are to be erected,
and • large tract of !and has been purchased for the govern-
ment at North Woolwich for • similar purpose.
The chaise of the red deer of Exmoor has this
year had • promising beginning. During the season,
which has just commenced, out of nine runs, seven fine
'tags have been kined, one of them the finest that has
been seen for many a long year. On Saturday a splendid
deer was found near the Quantock hills. After an ex-
citing and severe run he was driven on to a precipice 400
feet high, which is in a wood on the verse of the istol
Channel. Turning at hay, the two leading bounds drove
him backwards, and he f..:1 over the dizzy height and woe
dashed to pieces.