The Express.
London, England, 1868-02-04 00:00:00

THY INSIROPoLITAR RAILWAY.

The intervention of Chancery in the case of the Metro-
politan ltailway proclaim., observes the Daily News, the
critical character of the period upon which railway pro-
perty has entered. The intervention, moreover, takes
place on the cardinal question of railway administration—
namely, the question as to whether the dividend is paid
out of capital or real net earnings. It was high time that a
certain class of shareholdereshould be remindedof theexist-
ence of this power, and though the plaintiffs in snob suits
have to maintain their rights at their own charges, it is
well to be reminded that this remedy is operative and
that the inventor in railway stook does not place his
property absolutely at the mercy of a majority of a
fluctuating body of proprietors, but that the nature and
conditions of the enterprise are designated by law. Our li
holders of stock suffer precisely the same evils which
were complained of twenty years ago, and this fact
seems to shake the belief that the constitution of an
English railway company contains within itself adequate
security for the due administration of the property. In
the struggle we are witnessing between permanent inves-
tors and temporary shareholders, the latter, to whom the
increased exchangeable value of stock is more important
than the future and reversionary interests of the
company, have many advantages, and these cur-
. .

cumstanoes must be considered when it is urged
that a full display of the affairs of a railway
company is all that le necessary to secure a wise
and correct handling of the accounts. It would be so
if the interests of shareholders were strictly identical,
and their aims and objects the same. It is dividend—
earned or unearned, so that it be dividend—that deter-
mines speculative value ; and u long as that is the case •
large number of shareholders will be interested in making
dividends rise at the sacrifice of the value of the reversion.
In the struggle which is being carried on between these
two classes—and which to-day is to eventuate in a battle
at the London and Brighton meeting—this is the real 'twee.
It is well, therefore, that the clamourer for dividend out
of capital should be reminded by Vine-Chancellor Wood
that there is a power above them able and ready to control
their designs.

Mr. Doulton, M.P., has addressed a long com-
munication to the electors and non-electors of Lambeth,
in which be reviews his own political conduct, and defends
his support of the conservative government. After speak-
ing strongly against the excesses of trades' unions and
" political agitators," the hon. member concludes by saying
that he shall again solicit the suffrages of the constitn-
enc• _

Mr. George Potter contradicts the report that
he has announced himself ss a candidate for Mary Mose
at the next election.

Mr. Jacob Bright, M.P., attended a ragged-school
meeting in Manchester last night, and made some observa-
tions on the state of education amongst the poorest Glosses.
He said he was disposed to measure the civilisation of a
country by the condition of its humblest inhabitants, and
thought we bad dazzled the world long enough with the
munificence of men of large landed estates and of men who
had made colossal fortunes. By the aide of those there
were no inconsiderable proportion of the people half clad,

half fed, and totally uneducated. He did not see the
neoesaity for a continuance of such a Mate of things; nor
did he see the continued neoemity for the existenoe of
ragged schools if them in whose hands the government
of the country was placed looked closely into the sources
of the mischief.

Tim FENIAN Oursaaas.—We are given to un-
derstand that the mown is in poesestion of evidence of a
character to lead to the belief that the recent attempt to
destroy the House of Detention at Clerkenwell was insti-
gated by
." Colonel" Burke, one of the prisoners now
in Warwick Gaol awaiting his trial for tresses-felony.
The probability therefor is that the crown win
include him is any indictment which may be
framed against the Desmonds, Barrett, Ann Justice,
and others sow in custody for wilful mord.,
arMing out of the eatsstropbe. In connection with this
subject it may also be added that Mullasay, the list ap-
prover, has been admitted es a witness for the mown in
coosequswee of adornment having been traced to him ma
taming rdereoese to a sedans very high personege, sad
which demount it is not eisoridand desirable should be
given in evidence at the trial, either against kullany him-
self or any of the other prisoosrs. It has in consequence
been dentrun&—Po4

C:4
OBBOBN "6"
I, 3.
The Queen went out, aocompanied by Princes.
Beatrice.
Mr. and Mo. Theodore Martin have left Osborne.
Prince Leopold is much better, and phis dreesih daily.

The Judicial Conrmittee of the Privy Connell at yester-
day. Present—Lord Cairns, Sir J. W. Colvile, Sir E. V.
Williams, and Sir E. T. Kinder,ley.

Her Msjeety, it is Amid, is likely to pay a visit
to the Royal Military Academy, at Woolwich. The half.
year (the third and last of Primal Arthur's studies at the
Academy) will be brought to a aloes in June next, when
the Queen has graciously signified her intention of visiting
the establishment at the " breaking up," preparatory to
the Prince taking his anal departure, on being commis.
ebbed as a lieutenant in the Royal Artillery, for which be
has elected.

TOE PRIDCZ AND PRINCEN 07 WALEA.—His
Royal Highness the Prince of Wales has commenced a
visit to the Duke and Duchess of Manobseter, at Kim-
bolton Castle, which will last throughout the week. The
railway distance from Sandringham Howie to Kimbolton
Castle is not far short of 80 miles, the Prince having to
travel over the Lynn and Hunstanton Railway from
Wolferton to Lynn, over the Great Eastern system from
Lynn to Huntingdon, and thence over the Kettering,
Thrapeton, and Huntingdon Railway to Kimbolton. The
last-named line is worked by the Midland Railway Com-
_

pony, which obtains by it WOMB to Cambridge, having
running powers over the Great Eastern as between Hun-
tingdon and Cambridge. In honour of the visit of the
Prince, the Duke and Duchess of Manchester will give two
balls—one on Wednesday evening for a number of the
aristocracy of Cambridgeshire and Huntingdonshire, and
the other on Friday evening for the local volunteers and
their friends. The Prince will also enjoy the Sold sports
afforded by the Duke of Manchester's estate. This visit
is probably the last of the kind which the Prince will make
during his present stay in the country, as his Royal High-
ness and the Princess of Wales are expected to leave San-
dringham House for town about the 12th inst.
The Duke and Duchess of St. Alban's are on a
tour in Egypt, and are not expected in London for some
few months.

The Earl and Countess of Kimberley and family

are expected in Bryanston-egnare on the 12th inst., from
Kimberley Park, Norfolk.

The Duke of Newcastle, whilst out shooting on

Saturday with a party of friends at Clurcber, Notts, nar-
rowly escaped fatal injury. While shooting under cover
theßev. Vienne' Clinton discharged his gun, from which
some shot penetrated the Duke of Newcastle's left ear and
injured his face on that side. Medical aid was soon pro.
cured and the shot were removed. His grace has not sus-
tained injury of a vital nature.

The Earl and Conntese de Grey have arrived at
their residence in Carlton-gardens from Norton Park.

The marriage of the Earl Beauchamp with Lady
Mary Stanhope Jo to take place in the church of St. George,
Hanover-square, on Tuesday, the 18th inst. The ceremony
will be performed by the Bishop of Oxford, molded by the
Rev. G. S. Munn, motor of Madras&ld.

We (Sussex Advertiscr) understand that Mr.
H. R. Brand, eldest Non of the Right Hon. H. Brand,
Is about to be married to Miss Cavendish,
daughter of Lord George Cavendish, M.Y.

A deputation of hackney carriage proprietors of
the metropolis had an interview with the Chancellor of the
Exchequer, in Downing-street, yesterday. The deputation
was introduced by Mr. Alderman Lawrence, M.P., and
consisted of Messrs. L. L. Gower, H. Townsend, S.
McQuillan, W. Sanders, Richard Roads, and others. A
oontiamporary states that the Chancellor of the Exchequer
promised that the question of duties on carriages should
have the careful consideration of government. From the
tenor of his remarks it seems that when he considers the
matter it will be with a distinct view to the reduction of
the tax, though, at a time of growing expenditure and
demeaning revenue, he may properly reserve any definite
Pledge.

The number of hired shipwrights on the esta-
blishment at Woolwich has been increaaed during the past
week, with the intention of completing, as far as practi-
cable, the varint' ships ordered to be prepared for early
commission, and to be out of the shipwrights' hands by
the end of the financial year—the 31st of March. Tho
order comprises the Philomel, 3-gan, double screw gnu-
vessel, launched at Deptford on the Ist of November Lust ;
the 6-gun *crew corvette Juno, launched at Deptford on

the 28th of November ; the new compoeite gunboat Dwarf,

built at Woolwich for service in the shallow waters in
China ; and the 11-gun sloop Rapid, which is in course of
thorough overhaul and repair. The two new gunboats
Boxer and Thistle, taken down to Woolwich on the 27th
ult., after being launched at Deptford, are not in progress,
but they are to have their spars and sails in readiness for
early fitment.

Mr. Prankerd, who had the honour of entertain-
ing the Dake of Edinburgh, in South Australia, emigrated
many years ago from Lengport, in Somersetahire, where
some of his relatives now reside. Mr. Prankerd has not
forgotten his native town ; a school for poor children in
Lsngport is chiefly supported by him.

The Emperor of Austria has given orders to the
Ministry of Marine ►t Vienna to make ell the necessary
preparations for en expedition to Eastern Asia. This ex-
pedition, which is entirely carried out at the expense of
the State, is to be under the command of Admiral
Tegethoff.
The Grand Duchess Mary of Russia arrived on
the 30th nit. at Florence from St. Petersburg.
Tho sale of his Royal Highness Count d'Aquila's
artistic collections is announced on bills on tho walla of
Paris. Since the expulsion of the Bourbons from the Two
Sicilia; the count has lived in a chateau which faces the
Avenue de l'lmperatries.
The Princess of Leuchtenberg has just sent as a
present to the Mineralogical Society of St. Petersburg, on
the occasion of her marriage, a collection of fossils which
she had made in her various tours in Europe. The asso-
ciation, in return, has elected her to be an honorary
member.

The royal family of Saxony has left Dresden for
Leipsic, where the King is to open a new theatre recently
built. Accounts state that he received an enthusiastic
welcome from the inhabitants of the last-named city.
The third State ball at the Court of Brussels is
fined for the 6th inst., and the fourth and last of the
season for the 18th..
A correspondent at Rome says that, although
it is now carnival time. Rome is like a tomb ; the theatres
are deserted, and there are scarcely any foreigners in the
city.

The mortal remains of Daniel Manin are to
arrive at Venice on the 12th March. The ceremony will
be one of great pomp.
John Jacob Astor, jun., a well-known citizen of
New York, died in that city on the 17th of January, in the
66th year of his age. He was the emend son of the lete
John Jacob Astor, and the brother of William B. Astor.
A singular will case has come before the Rosunes
warts. AM. Titre died last year, and left his property to
his heirs on rendition of their spending 1,50 W. sterling in
erecting a bronze monument on his tomb representing
Death, under pain of forfeiting the property, in which
case it would go to the sink poor of the town. The heirs
wise to evade this somewhat insane clause.
The passenger cars on the Boston and Albany
Railway are heated by steam. The steam pipes run under
the seats, and effeetually warm the cars.
At a book sale in the United States, a short time
sine, • copy of John Ellot's Indian Bible fetched 300
dollars, and • Dibdsa edition of Milton fetched 1,500
dollars or 3004 sterling.
On the 6th of last October there was a gale off
Labrador, which destroyed 80 vessels and =onerous lives;
ea the 29th there was • herrisane at St. Thomas, which de-
stroyed newly 100 vessels and nearly 1,000 lives ; on the
30th there was a hurricane at St. Domingo ; on November
the lit them wsa one at Hong• Kong ; on the 2nd there was
one at Oaleutta, daring which the loss of life and property
ware very great ; an the ard the eruption of Vernvioe
sosamsneed ; en the Bth there was a tornado at Mata-
moros, which did damage to the amount of a million
Airline; on the 20tk them was a volosnie eruption la
Nicaragua ; and on the 20th there was an earthquake felt
at New Yak, Varatent, and Osnads.

MEM" DAT
Irkt Cartka.