The Express.
London, England, 1860-06-06 00:00:00

CHINA.

We have advices from Hong Kong to April 25 ;
Shanghai, April 17. The following is from the
summary of the China Mail :
The exact terms of the reply made to the ultimatum by
the General Council at Peking have not yet transpized ;
but it must have been conciliatory and on the whole ap-
proaching to au acceptanoe of the ultimatum, for, after
thinking over the subject for a week, the Plenipotentiary
sent, on the 14th inst., a second communication, explaining
that the conditions previoualj, specified in the ultimatum
were unalterable as being the expressed will of her Majoty,
and further intimating that if the Chinese government
would yield immediate compliance with it, the demand for
indemnity would not be pressed. It is evident that such a
repetition of the ultimatum would not have been made
unless the reply had been conciliatory and very nearly
satisfactory. All the stories about the ultimatum
having been insolently rejected, or tent back torn
into seven pieces, may be safely considered as to-
tally unfounded. There is little doubt, however, that If
the Chinese do not yield full compliance to this second: re-
quisition, the matter will be handed over to the naval and
military commenders-in-chief.
Almost every day during the fortnight has seen the
arrival of strainers and sailing vessels with French and
English troops for the expeditionary force. The opposite
peninsula of Chini-m-troey presents quite an animated
camp, where the Sikh cavalry and the Armstrong guns are
the principal objects of attraction. There are many un-
founded and premature rum...ars as to what is doing and about
to be done • but the truth is that the moment for action
has not yet arrived. The occupation of Chusan and the
blockade of the Gulf of Pechefee, which rumour secom-
plished a fortnight ma, have still to he effected, and can
scarcely becommen«d until our affairs in China pass out of
the hands of the Plenipotentiary into those of the cont.
wanders-iu-chiet. Meanwhile a portion of the force is being
assembled at Kin-tang, to
be ready to take such steps as
may be decided on should war be commenced.. Commissariat

officers are busy here, at the porta and in Japan, rnakinz
preparations for the coming cantpaigu. As to the Chinese
preparations nothing is really known. The expedition mn-
not be met by immediate resistance, and the Chinese are by
no means such fools se to waate their powers in fruitless re-
sistance before time and climate Dome to their aid.

The re-appointment of Lord Elgin is not very popular
with a section of the community in China, who find in Mr.
Bruce a plenipotentiary more after their own heerta ; but
his lordship's greater experience and consideration are inuil
required at present, And the rule is a good one which re-
moves the conduct of affairs from the hands of those who,
whether rightly or wrongly, have caused international
difficulties.

From Japan accounts are still unsatisfactory. Tho foreign
residents at Yokohama consider themselves still unsafe.
There was a rumour that the Regent had been attacked and
wounded by the retainers of the Prince of Mote, who is a
pretender to the position of Tycoon, and said to be un.
friendly to foreigners.
With one of those turns which happen so often in
Chins., the rebels about the Yang-ten have of late bad the
worst of it. They have retired from the neighbourhood of
Hang-chow, and the locality is quite tranquillised. The
commander-in-chief of the imperialist force on the Yang.
tars declares that the rebels are besieged on all side; and
that the last moment of their existence has arrived. He
also states that they have been driven back iuto the pro.
vines of Che-kiang, where they will be exterminated.

PENINSULAR AND ORIENTAL STEAM NAVI-
GATION COMPA NY.-( THIS DAY.)

The half-yearly meeting of the shareholders
was heldthis day at the company's offices, LeadenhaUstreet,
Mr. Witzcon, M.P., in the chair.
The report of the directors states that the combined
operations of the French and English governments
in the expedition to Chins have again led to
the extensive employment of the company's steamers
in the transport of troops. During the six mouths em-
brined in the report the very extensive operations now car-
ried on by the company have not been attended with any
casualty of importance. With regard to the Australian
postal service, the directors announced in their last report
that, in consequence of their experience of the unsatis-
factory working of the Australian line rid Mauritius, they
had proposed to the government a trial of the route rid
Gallo, with an addition of 25,000/. per annum to the sub-
sidy. The change of route was agreed to ; but as the
colonies contribute one-half to the subsidy, that part of the
question could not be dealt with without a reference to
Australia. Both Melbourne and Sydney were communi-
cated with upon this subject, but by the time the
result of the negotiations reached England the di-
rectors were convinced that the loss incurred must be
permanent, and acting on the principle that the com-
pany cannot be expected to carry out a public service
at a sacrifice, and that the shareholders have, on the other
hand, a right to a fair profit on these operations, entered
into communication with the government, with the deter-
mination either to obtain an increase to the subsidy or to
abandon the contract. The Lords of the Treasury stated
thereupon that their communications from the colonies
would not justify them in proposing an increased estimate
to parliament, but requested at the same time to be in-
formed whether the directors had any alternative plan to
propose, or whether they intended to discontinue the ser-
vice altogether. Upon this invitation the directors sub-
mitted a proposal, upon the plan and terms suggested by
the local government of Melbourne, namely, a monthly
line between that port, calling at King George's Sound
only, and Calle, for a subsidy of 120,000!. per annum. The
official sanction of this alteration of the service was received
in time to admit of the transmission, by the last mail, of
instructions to the company's agents to discontinue the
costly line to Suez forthwith. The new plan will consequently
come into operation next month, and the directors con-
sider that there is a fair prospect of its proving re-
munerative. Concurrently with the change of route,
the scale of passage money to and from Australia will be as-
similated to the rate per mile on which the charges
on the East India and Chins lines are calculated.
The contract for the conveyance of the mails between
Malta and Corfu, which was entered into for twelve months
certain, in May. 1859, will cease on the 16th July, the
sti-
pulated notice to that effect having been given by the go-
vernment. This service has been performed with great re-
gularity by the Alhambra. In the report made this time
last year the directors alluded to the rise in the freight of
coals to the company's stations, and they regret to state
that the advance then established has continued to the
present time. The consequent increase in expiture ex-
tends not only to the fuel now being consumed in the navi-
gation of the company's ships, but to the lar„-e stocks which
it is necessary to provide beforehand at all the large coaling
stations. Owing to the extended operations, the company's
steamers now turn not leas than 300,000 tons of coals
annually, against 200,000 tons two years ago ; and the
average coat at all the stations is 51s. 7d. in 1839-60, against
40a. in 1858-9. The expenditure on coals alone is there-
fore augmented by lls. 7d. on 200,000 tons, and by 51e. 7d.
on 100,000 tons (the increased amount of the consiunp-
tion), making in all 373,7501. per annum. A general rise
has also taken place in the price of pros isious, and almost
every article consumed in the outfit, repair, and navigation
of the steamers. These circumstances combined have
led the directors to consider whether it will not
be necessary to revert to the rates of passage
money and freight which existed before the last
reduction in 1857 ; and also whether they can con-
tinue to carry on the present amount of postal service on
the India arid China lines for the subsidy now received.
The disbursements of the company now amount to upwards
of two millions annually ; and taking the sum shown at the
last annual meeting, namely, 2,006,363/., the cast of navi-
gating the company's ships, and of carrying on the business,
295. per mile. The difference between this sum and the
amount of subsidy per mile (4s. 6d.) is very striking ; and
when it is borne in mind that a receipt at the rate of not
less than 265. 6d. per mile has to he mado up out of earn-
ings in freight and passage money to enable the company
to pay a dividend of 7 per cent, only, it will be readily un-
derstood that the extra expenses, the strain upon the vessels,
and other disadvantages which attend the constant and
punctual performance of the obligations of the mail service,
may not be adequately compensated at so trifling a rate of
subsidy. A call of 51. per share, as alluded to in the last an-
iLudreiort, was made payable on the Ist April last, and was
etresponded to by the proprietors with their usual punc-
t7. Another instalment of Si. has also been called
for the Ist July, which will leave 23/. payable on each of
the new shares, or 500,0001. in all. The cliractors desire to
explain that the proceeds of these two calls will go in great
measure to meet thepurchase-money and outfit of the ves-
sels bought on entering upon the Australian service, and
other expenses connected therewith ; but as they were at
the time enabled to apply cash assets to defray this cost,
the period of calling up the requisite capital was pet-
poned, it being obviously for the advantage of the company
that dividend should not becoms payable on capital before
it is actually employed. The operations of the half-your
so far as the gross receipts are conceived are satisfactory ;
but the disbursements, as the shareholder, were led to an-
ticipate, have, from the causes before mentioned, been un-
avoidably increased in a more than corresponding ratio.
The directors are, however, enabled to reeominend that
' the usual dividend of 3. per cent. be now declared for the
half-year ending 31st March fast, and that payment of the
same he made, clear of income tam, on and after the 25th
instant.

The CHAIRIMS in moving the adoption of the report,
particularly to the assietance which the company
had been able to afford to the government in the convey.
ance of men and stores to Chine. No less than seven of
their vessels had been chartered for the purpose of
the Chinese expedition. Of course that was done for a
consideration. (Hear, hear.) But at the mine time they
performed many services for the government in China for
which they received no remuneration, although they had re-
ceived the thanks of Admiral Hope for themaistance they had
given. Thu chairman next referred to the increene in the pri,e
of coal But they were reducing the disadvantage arue.ns
from that circumstance by the application of the sur-
heating apparatus to their vessela. In one voyage from
Southampton to Alexandria and back they eared an expen-
diture of 600 tons of coals by the application of that
apparatus. (Hear, hear.)
The motion having been seconded by Mr. HA:cmet, the
report wee unanimously adopted. A resolution, declaring a
dividend of per cent. was also adopted. A vote of thanks
to the chairman terminated the proceedings.

THE TAX Bum Comer'?EH—At the meeting of
this committee on Monday, Mr. Walpole in the chair, Mr.
Erskine May, and Mr. Warden (the lilaarian of the House
of Commons), received instruction' to make a search for
precedents further hack in the journAls than they have as
yet gone, and the committee adjourned till Friday.
WHITEHALL, Julia 2.—The Queen has been
pleased to give and grant unto Lieut.-Colonel Charles Henry
Morris, C.D., late of the Hovel Artillery, her Majesty s
royal license and permission that he may accept aau wear
the insignia of the Imperial Order of the Legion of Honour
of the fifth Class, which his Majesty the Emperor of the
French bath been pleased to confer upon him, as a inark of
his Imperial Majesty's approlettion of his distinguished
services before the enemy during the late war with Russia.
Ga:rfte.

' QUEEN AND THE METRoPOLCIAN VOLUN-
TIERS.—Viscount itanelagh, colonel-commandant of the
South Middlesex Elite., has organked a field-day in Kent
for Saturday, the 23rd of June, which will he of more thm
ordinary interest, inasmuch us there is not only to be a
sham fight, but the volunteers will afterwards dine in
bivouac. This will be preparatory to anoth'r demonstration,
which will be shortly afterward. made in Surrey. We have
the pleasure to add that the grand review of the volunteers
by her Majesty is definitively fixed for Saturday, June 3:).
CIVIL SERVICE VOLUNTEERIC—The of and
members of this corps yesterday afternoon proceeded front
their headquarters, on board the Fairy ateanovessed, to
greenwich Pier, where they landed, and marched to Black.
heath, accompanied Ly the Land of the Woolwich (4th
Kent) Rides, and numerous members of that corps. Not.
withstanding the unfavourable state of the weather, a
series of evolutions were carried out, and the corps
returned to London at eight o'clock.
METROPOLITAN FREE HOSPITAL, DEVONSHIRE-
socAuE,CHT.—The aggregate number of patients relieved
during the week seam; June 2 was— Medical, 1,2. ti ;
surgical, 427; total, 1.,61i5 ; of which 330 wore :try cases.