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[From the Dailv News. 1

Ttie St. Leger states oi k- eovs. eacn. ior uiree year-olds; colts, Sss. 10 lbs.; fillies, 8st. 5 lbs; second horse to receive 100 sovs. out of the stakes. St. Leecr course— one mile nine furlongs 132 yards

-238 subs. It. Graham's Formosa, by Buccaneer— Eller 8iL51bs.(Challonerj ? 1 It. Hodguian's Paul Jones, 8 tL 10 lbs. (Fordham) ? ? 2 ir. Johnstone's Mercury, 8 st. 10 lbs. (Osborne) 3 The following also ran:— The Spy, See Saw. St. tonan, c. by Buccaneer, Viscountess, Onon, King Ufred, Viscount, Typhoeus, and Virtue. Precisely at ten minutes to 3 tbe operation of nserting the numbers on the telegraph board was oinmeuced, but at least ten minutes before that ime Mr. Manning had weighed the last jockey tut. Willi the exception of Formosa, Virtue, discount, The Spy, and Mercury, who were iaddled on the course, the 12 competitors had their oilettes adjusted in the paddock in rear of the jrand Stand. Typhoeiw was the first to show on he course, which he did at nine minutes ;o 3, John Dawson leading him on to tbe sourse, with Nine Elms in his clothing at lis head. The Spy, Viscount, and King JAlfred ollowed in rapid succession, a few minutes elap ling before Paul Jones, See Saw. and SL Ronan letiled out of the passage leading from the paddock. rbose who were saddled on the course soon joined he other competitors at the distance, Formosa wing the last to walk down, which she did most x-muosedly. The course having been cleared, the preliminary canters were taken, Paul Jones show ing the way for the White wall pair, who weie suc ceeded by Typhceus, St, Runan. aud See tiaw, the Viscountess colt heading the others, of whom King Alfred was thu lost to cantur. Mr. McUeorge then took the lot under his charge and paraded them past tbe Stand in the following order:— See Saw, Virtue, King Alfred, Viscount, Spy, Typhoeus, St, Rouan, Paul Junes, Formosa, the Viscountess colt. Mercury, and Orion. After walking down the course till reaching the half-distance, they re turned in the order indicated above, and reached the starting-post at tho exact moment (3.15) ap pointed for the start A couple of breaks-away oc curred before Mr. McUeorge could lower his flag, which at 3.1S he did to a beautiful start. See Saw was tbe first to show in advance, Virtue, Typhccus, and the Viscountess colt of the remainder being quickest on their legs, but when about a hundred yards had been covered, French pulled See Saw into the rear, and Orion rushed to the fore, Typhceus and The Spy lying in attendance upon him, St. Ronan, Mercury, the Viscountess colt, and Virtue following at a clear interval, See fcaw and King Alfred acting as whipper-in. When they had Koue about 300 yards The Spy, with the object of serving his stable companion Viscount, took up the running at once, taking a clear lead of Orion, who was succeeded by Mercury in the centre. Typhceus lying on the outside, with Paul Jones on the left bt Ronan

lying at the latter s quarters, the Viscountess colt nnd Formosa following iu the immediate wake of Paul Jones, the colours of Viscount being con spicuous at the head of the ruck, which was still brought up by See Saw and King Alfred. At an excellent pace The Spy showed the way up the hill, having at this point a lead of at least three lengths of' Orion, Mercury, Typhoeus, and Virtue, who now lay in u cluster, St. Ronan and Formosa running at the head of the remainder. In this order they disappeared from view, and on emerging into sight again The Spy still hud a strong lead of Orion, the cluster having separated, being split up by Viscount emerging irom the rear and taking his place with Paul Jones, Typhccus at this point going ou filth. Mercury, who came next, having at his quarters Formosa and the Viscountess colt, Virtue, who had had apparently enough of it, gradually dropping into the rear, whilst King Alfred began to menu his position as they approached tho rifle butts, on passing which French brought See Saw from the tail of affairs, takiug up a position on the outside of his horses. As they neared the Ked Mouse— a little over five furlongs from home— Orion was closed upon by Viscount and Mercury, but in a few strides Mr. Headman's horse was in trouble, dropping b.ick into about fifth pbee, and Mercury, Viscount, and Paul Jones were left in attendance upon The Spy, St. Ronan anl Typbceus following at a slight interval, Formosa, King Alfred, aud See Saw being the most prominent uf the others. Soon after passing the lie! Hoihp, Viscount was in dillicul ties, (Justance being observed to move upon him. but he could not hold his place, and at the benu leading from the Red House the chances of Typhceus and St. Ronan were extinguished by their holdiug out signals of distress. The next in trouble was King Alfred, who was unequal to Daley's call, and tiie retirement of the lot mentioned left the issue to The Spy, Meicury, Paul Jones, See Saw, Oiion, and Formosa, of whom The Spy. in the centre of

the course, retained Ms advantage to tne half-mile post, when Fordliam brought out Paul Jones on the outside of Mercury, and on the retirement of The Spy, whom Goatcr had ridden for neatly a qu irter of a mile, the Chester Cup winner took up the running, having a lead of about half a length of iiicrcury. Sec Saw and Formosa being a clear interval behind. Of the four the first in trouble was See Saw, whose retirement took place before reaching the bend, and Formosa, who liad gradually crept up, was left in the third place. A quarter of a mile from home Mercury got up to the neck of Paul Jones, but he could not retain his place, anJ a few strides beyond the distance he was passed by Formosa, who drew level with Paul Jones', and from the moment that she got to his head it was evident that she would win, so well nnd strong was she goin& The issue was thus left to the great rival jockeys of The Marquis and Buckstone, who ran a head-and-head race for the St. Lcger of 1S52. This year, however, it was clear that the finhh would nut be nearly so close a one, for at the commencement of the Stand enclosure Challoner allowed Formosa to have her head. She forged gradually away from her half-brother, the steam-engine, and wou. without having been touched by whip or spur, by a couple of lengths. Paul Jones, who was cased wheu Fordbatn found he had no chance of again heading Formosa, defeated Mercury thrt'e lengths for the hundred given to the second The Spy was fourth, beaten 12 lengths from Mercury, See Saw fifth, Typhteus sixth, and Virtue seventh, slight intervals separating them. Then came King Alfred, who rolled about coming up the straight, and pulled up lame eighth, about a length in front of Orion ninth, St. Roman tenth, the Viscountess colt eleventh, the last of all being ViBcount, who was beaten a long way. The cheering which greeted the victory of Formosa was loud and prolonged, and, whilst the owner was congratulated ou all sides, Challoner was surrounded by his brother professionals, who were all eager to compliment him on the brilliant horsemanship which wo'n his fourth Lecer. The time occupied iu the race, as taken by Benson's chronograph, was as follows :— The start was at 3h. 20m. : the arrival at :)h. 23m. 191s. ; the duration of the race being 3m. 19Js.