The New York herald., 1868-06-12

From OUR LONDON CORRESPONDENT.

The Derby and the Oaks-The Marquis of
Hastings on the Ground-The Horses, Mount
and Running.
LONDON, May 3O 1858.
Blue Gowns Derby will take its place in the annals
OF English sport one OF the most remarkable ON
record That the race should not fall to the favorte
is Of course, In the wonderful uncertainty OF the
turf an event in no way surprising; but that it
should be carried or by horse regarded by his
the worst of the three he had engaged that
the general public and not the stable should be
the gamers by the result, and that splendid two
year old performer and hot favorite like Lady
Elizabeth should appear in form hardly superior
to that OF fair cab horse characteristics which
will not soon be forgotten. In all respects, indeed,
the been OF the most sensational in the
history OF national spOrt but it is deeply to be
regretted that the interest that attaches to it in
part one which must be most painful to the feelings
OF every honorable man who has the real welfare Of
the turf at heart.
Your readers are probably acquainted to some
extent with the career Of the nobleman whose name
is associated 10 great disadvantage with the big
event OF Wednesday; but 1t may not be out OF place
to refer briefly to its chief incidents, many of
them seem to lead up," as the lawyers have 1t, to
stroke OF business on his part which has aroused
the deepest disgust and called forth the severest
comments not only from professional sportsmen,
but from the public at large. The MARQUIS OF Hast
ings the owner of the disgraced favorite has been
prominently associated with the turf ever since he
obtained his majority some four years ago, and the
wild speculation in which he INDUCED, the extra
VACANT mode OF life which he adopted, and the de.
plorable disasters which both brought on his for
tunes have long been theme of general comment
here, and have not only entailed ruin on himself
but little discredt the turf IL only on
the great events Of the year that he risked large
portions Of ms rapidly decaying patrimony;
he was throughout true to himself In hazarding
vast the most ''dufingr OF races
at the most 'tinpotr OF meetings; while the
additions he made to stud of alarming proportions
purchased and supported at vast expense, would
have been regarded the hugest of ''white ele-
plants" by any man not utterly regardless Of his
future. Al the same time his private expenditure
would speedily have ruined Cr9sus, for he not
only INDUCED In the most reckless extravaganza in
his mode OF life, but surrounded by noble
army OF fashionable but needy toaoes to whom he
was unable to say NO." and who fattened at his
expense like the lean kline OF Pharoah. The crisis OF
his affairs was reached last autumn, when. after
succession OF losses he was compelled, virtually to
retire from the turf break up his training establish
ment and treat for settlement with his creditors
1t Is alleged and apparently with the utmost truth
that Lord Hastings did not lose on the balance by
racing; but that his disasters, far as the turf is
concerned, were due in great measure to the heed.
less fashion In which he last year betted against
He rmit, the winner Of the Derby. Whatever were
the facts Of the case there is no doubt he was
deeply indebted to professional sportsmen, In
some cases to the extent Of many thousan ds
OF pounds; that he did not show mucb
inclination to come TO terms with them, and that
finally, few weeks ago. many Of them conceiving
that they had been unfairly and unhandsomely
treated, broke or negotiations and threatened to
post him as defauter IL Is stated that his course
c>>At In this AFFAIR was dictated by "nnancier',
whcSe name is associated very prominently with the
"kit3n OF young gentlemen who have outrun the
coHtabe and always recalls unpeasantly the pecu.
llarties OF ''sxty per shent.n At all events Lord
Hastings alarmed at the prospect Of standing like
peri outside the gates OF the sporting paradise,
once more came to terms and offered a compromise
which would satisfy his creditors and restore him u
the Joys Of Newmarket. His money lending mem
Der, however, seeing that such line OF conduct
might interfere with his personal pickinps, came
DOWN like deus e1 nochtnd, put his veto on the
arrangement ana Informed the creditors that his
Lorusnip would see them - further first" before
ne paia them IL need scarcely be said that these
,s a,sc,fsutaoie proceedings, which bear strong re-
sempiance 10 what IL described here az ''wclshng, "
speedily became known and aroused great in.
dlgnation rtg among honorable sportsmen OF all
in q letter from "yigianpi'" one Of 'Sh the
correspondents OF the Sportsman who com.
mented In the strongest terms on the disgrace
which such conduct brought not only on the
Marquis himself but on the turf at large: pontesl
out that his Lordship though the owner Of the fst
favorite for the Derby, and such having n
through certain commissioners entitled 10 pocke the
money Of the members Of the ring should She win.
was nothing less than defaulter who refused TO nav
his previous TO these very men, and called IN
the Jockey Club to take immediate steps for the nye
vention OF such scandals for the future THESE src
tures and this appeal were alike successful for the
advisers OF the Marquis at once came forward with
the arrangement which they themselves formally dc.
clined to carry out while the stewards OF the JocKe,
Club, alarmed at such state OF matters WILL TO ths
satisfaction OF all English sportsmen, at their mex
meeting adopt stringent regulations TO prevent de
faulters from running horses.
Such was the position OF the owner OF
The "PLYING FfLLY," LADY ELIZABETH