The Express.
London, England, 1866-10-30 00:00:00

!.

THE Do.49II,FSSirTITESDAY EVENING, OCTOBER 30, 1866.

LATEST SPORTING INTELLIGENCE

(IT 11101110 TZLIGILAPIL)
WORCESTER MEETING.-(THIS DAY.)

HANDICAP PLATIL Oaa wile and a quarter.
Sweatt, Ste►nboat, Sandal, Allow He, Nonithraw, and
Royal Tartan are here.

HURDLE RACE. ltp mien.
Bement, Pearl Diver, Brahma, Wm° of Trumps, Wild
Thyme, Dick Purple, Discretion, Heurlya, Steamlast,
Love Letter, Lydia, Cacula, Reinfrid, and Fortunatus ate
here.

WORCESTER AUTUMN HANDICAP. One mile and
three furlongs.
Moose, Pearl Diver, Attains's, Sandal, Wild
Poppy, Dick Tespin, Vigilant, Troubadour, Mischief,
Brimstone, and Jetty Tref!: g are here.

NURSERY PLATE. T.Y.C.
Moonbeam, Jeannie Deana, La Moodie*, Challenge,
Killaloe, Kim Frames, Lady (,raven, Golden Hill, Lord
Begot, Millie, blowhole, Reba...* Reoompenae, The Rook.
Esmeralda, and Merry Monarch are here.

ITALIAN IRRIOArioN CANAL COMPANY.
(THIS DAY.)
A meeting of shareholders of this company was
held at 1 o'clock, at the London Tavern, idr. W. F. SPLATT
in the chair, to receive from that gentleman a report of
his visit to Turin, and investigation of the works of the
canal, sad to take such steps as might be deemed neoes-
Nag to rescue the company from its present condition.
The Soucrros of the company (Mr. Burton) observed
.
that none of the English directors were present; adding I(
that they thought it desirable that the company should if
be reconstituted, and had authorised him to place their 5
resignation before the meetink. (Cheers.)
Tbs CHAIRMAN then proceeded to read his report. He
commenced by alluding to his large interest In the con- ;
cern, and then went on to say that he was clearly of
opinion that the concession should never have been ac-
cepted on the terms offered, as none of
the Italian canals paid under the present system.
The fees of the Italian directors amounted to about
10,0001. per annum, and there had been great extravagance
in the management This was the real cause of the com-
pany's
difficulties. The Italian government had refused
to pay the guarantee on the ground that the canal was not
finished. At a meeting held recently at Turin the directors
there asked for a vote of thanks for their past services, de-
claring on their honour that they would resign if such a vote
were passed. This could not be acceded to on the part of
the English shareholders ; but the meeting was managed on
behalf of the Italian directors. The Italian directors did
not hold a large interest. It was remarkable that the
Italian solicitor of the company was out of the way at the „
time of the meeting, the inference being that it was ;
desired to avoid questions. If the company were
reconstituted, and some capital found to complete the I
works the concern might still right itself. He could not
believe that the Italian government would allow their
interests to be sacrificed when their money had made se-
veral thousand acres of useless land valuable. (Cheers.)
In reply to a question,
The CHAIRMAN said from 60,0001. to 100,0001. would be
sufficient to finish the •-orks.
A SHARRHOLDIR remarked that the chairman had
80,0001. embarked in the concern, and was well deserving
of confidence. The Italian directors were opposing every
obstacle to improvement, having but little stand snug
berths of 2501. a year.
Mr. YOUNG (liquidator of the Imperial Mercantile
Company) observed that the guarantee was given upon
obligations and bonds to the amount of 3,200,0001., but it
was now necessary that the guarantee should
extend to a million more. The government
had assented to the appointment of a commission
to ascertain what was required to complete the works so as
to entitle the shareholders to thegnarantee, and he believed
there would soon be a report favourable to the company.
I He had no doubt that the Italian parliament would ratify
the guarantee.

In-reply to a question,
The CHAIRMAN said that the company would be allowed
some years to finish the subsidiary works. The 100,0001.
which he had said might be required was wanted for the
canal itself.

In reply to questions,
The CHAIRMAN said the guarantee of 6 per cent could
not, under the concession, begin to take effect before the
15th of lass April, and the whole revenue of the canal
this year did not exceed 12,000 f.
A discussion having ensued as to the safety of the
guarantee,
Mr. EVANS deprecated questions which tended to
injure the interests of the shareholders. The
bonds were issued on royal authority, and he
could not believe that the Italian government would
not act properly in the matter. He con-
cluded by moving the following resolution :
" That this meeting expresses its acknowledgments
to the committee for their services on behalf of this coin-
pany, and especially tenders its thanks to W. F.
Splatt, Esq., as well for his arduous labours in
Italy as for his able repot t ; and this meeting
believe that an entire change of the administration is
imperatively called for, and earnestly requests all share-
holders to forward their proxies to the secretary without
delay as already requested by the committee."
The resolution having been seconded,
A SHARRHOLDER inquired whether there was any time
fixed for the completion of the works in order that the
guarantee might he secure. (" Don't say.")
The CHAIRMAN had no objection to state that the time
would expire on the 27th of February next.
The resolution was adopted, as was also one requesting
the committee to continue their services.

WEATHER REPORT.

!HIS DAY.)

TEMSDAT, OCTOBER 30,