The Sun.
London, England, 1868-05-09 00:00:00

JUNE

West Drayton 1 1 Novvtou
Oroydou 2d 8 atuaier ... 3 Itaruptun .......
Alauctiester 3 Newe.tstle 23
Ascot Summer - 9 Bibury Clu'.) 2,3
80v00,,y, Hull, , 1 I Stockihilgo . 2l
East a.. (1::1„;
IViudsor Buatinor

JULY.

Chelmsford
Worcester 8 uoi wee
Kingsbury and Hendon 6
Radcliffe
Carlisle
Newmarket July
Hungerford
Pontefract
Down Royal Corp..., ll 1
Reading
Spilsby

Liverp9ol July M.
Odiluttu l6
Stamford
Huntingdon 2l
Nottingham July
Chesterfield
Kuutsford 23
Southampton
Sudbury and Ealiug
Goodwood

AUGUST.
Deauville
Leek 3 Sotnerset ..... 2O
Brighton
Brighton Club 6Scarborough 2 k
I Lewes Summer
Wolverhampton ll Great Yarmouth
I
Stockton
Plymouth
Windsor August l3 lpswich 27
Egbazn l7 Lichfield
liastiugs
York August - l9 Margate 3l
Oxford

NAVAL AND MILITARY IMELLIGENCE

Yesterday the Duke of Cambridge, Field-Mar-
shal Comm aiding-in-Chief, accompanied by Lord
W. I'aulet, Adjutant-General, and Sir ii )pe Grant,
Quartermaster-General, visited Aldershot and in.
spected the division under the command of Ueut.-
Gen. the Hun. Sir James Yorke Scarlett, K.C.B.
The regiments formed upon Cove-common shortly
before 10 o'clock, and received his R Jyal Highness
with the customary.salute. He then made a minute
inspection of the ranks, after which the troops
marched past in the following order :—Pioneers,
bands, and drums of the Ist Infantry Brigade ;
Staff and Major-Gen. Renny ; Col. Robertson and
2d Battalion Bth Regiment; Col. Thompson and
54th Regiment; Lieut.-Col. Bowen and 57th Regi-
ment. Pioneer.; bands, and drums of the 2d Bri-
gade; Staff and Major-Gen. Carey, C.B. ; Capt.
Fitzsimons and 40th Regiment; Lieut.-Col. Har-
rison and 80th Regiment. Pioneers, bands, and
drums of the 3d Brigade ; Staff and Major-Gen. Sir
A. Horsford, K.C.B. ; Lieut.-Col. Agg and 51st
(King's Own) Light Infantry; Major Grantham
and 98th Regiment. They next counter-marched,
and went past in quarter distance en masse, and
again from the original flank by brigades. Several
field movements were then executed, and about
half-past 11 the infantry marched towards quarters.
The Duke then proceeded to the ground north of
the Basingstoke Canal, where he inspected the
Cavalry Brigade and the Royal Horse Artillery.
After inspection they marched past, the Artillery in
open column of squadrons at a walk, by sections at
a trot, and by batteries at half intervals. The
cavalry were then exercised in various movements ;
the 4th Dragoon Guards in the pivot, and the Ist
(King's) Dragoon Guards in the non-pivot drill.
At the conclusion the Duke expressed his approval
of the high manner in which each branch of the ser-
vice had acquitted itself.

RAILIVAY INTELLIGENCE.

LONDON, CHATHAM, AND DOVER.

The directors of this company, including those
members who represent the debenture-holders and
mortgagees on the Board, have issued a circular to
the shareholders and mortgagees of this company,
in which they state that the bill for the working
union between this company and the South-Eastern
and Brighton Companies has passed the House of
Commons, and that such provisions have been in-
serted therein as are, in their opinion, requisite for the
protection of the interests as well of the debenture-
holders as of the shareholders of the company, and for
leaving the rights of all parties in as nearly as pos-
sible the same relative position as before, with the
exception only that debenture-holders will be called
upon to exercise their option as to vesting in the
united companies their reversionary rights in the
rolling stock. It being obvious to every one con-
versant with railway management that a great sav-
ing of expense and avoidance of wasteful competi-
tion may be effected by united working, and that
such a union to the exclusion of the Chatham Com-
pany would have left it defenceless against the
rivalry of two companies, each more powerful than
itself, the directors felt, therefore, under the impe-
yofwhthae
company, and they came what
to the conclusion
sr
ha toiuvled nheec essdone
o f
to protect
o npsri do et
eroi nt g
tvheer yi
nsteerrieosutss 1
the Chatham Company in the proposed
that it was necessary to take steps to iucltt
union.le
The proportion of the whole net earnings
of the uniontzec onfatthltitemticir,e3empeoatatiy pa-
niesto b
is
to be decided by arbitration. Under the Arrange-
ment Act of last year property in the rolling stock
future
assigned
gn working in
tog
(after deduction of certain payments to be made to
the general creditors) is made part of the security
of th.; mortgagees as defined by the act, sal)j.:ct to
the restriction, that the rolling stock must remain
in the service and for the use of the co.npany, and
without power of sale, during the suspense period
of ten years. What may be the rights of the de-
benture holders as regards the rolling stock after
the suspense period is very doubtful, and under the
circumstances the directorsgroweelestooomo representmtehuedibil
board
a rt
dl e d
oh
at e-e
bu eon thuersei
tub
toiloduersi
u andde
enildoerdtgl
ya
debenture holders to transfer the rolling stock to the
united companies.