THE DERBY.-May 26.

The 90th Deiiby Stakes, of 50 sors each, h ft, for three-year-olds ; colts, Bst lOlbs ; fillies , Bst 51bs. The owner df tho second horse received 300 soys, ond tho third 150 soys, out of the stakes. One mile and a-half. 247 subs. Mr J. Johnstone'a Pretender, by Adventurer (J. Osborne) 1 Sir J. Hawley's Pero Gomez . . (Wells) 2 Mr G. Jones's The Drummer . . (Morris) 3 The following also ran :—King Cophetua, Duke of Beaufort, Lord Hawthorn, Thorwaldsen, The iEgean, Border Knight, Martyrdom, Belladrum, Ryshworth, Neucluitel, Ladas, Alpenstock, Rupert, Perry Down, De Vere, and Tenedos. Betting : 5 to 4 agst Pretender, 11 to 2 agst Pero Gomez, G to 1 agst Belladrum, 10 to 1 agst Perry Down, 20 to 1 each agst Tho Drummer and Martyrdom, 1,000 to 30 each agst Border Knight and Thorwaldsen, 50 to 1 each agst Duke of Beaufort, Eyshworth, Ethus, De Vere, and Rupert, 1,000 to 15 agst Ladas, 100 to 1 each agst Alpenstock and King Cophetua, and 1,000 to 5 each agst The YEgean, Tenedos, and Defender. Place Betting : 5 to 2 on Pretender, 5 to 4 agst Pero Gomez, 2 to 1 agst Perry Down, 3 to 1 agst The Drummer, 5 to 1 agst Martyrdom, 7 to 1 each agst Thorwaldsen and Duke of Beaufort, 8 to 1 agst Border Knight, and 10 to 1 agst Rupert. The Race.—Within a few minutes of the time set down, Mr. Manning accomplished the weighing out of the twenty-two runners, and, immediately after, the Telegraph-board supplied the required information to the impatient visitors. During the interim, the levee of the favourites in the paddock was tho largest seen for many years, and embraced the very best judges of a thorough-bred in the kingdom, who, of course, as each passed in review, differed as to conformation and condition. Shortly aftei", Martin Starling having taken them in charge, they appeared on the course, and paraded past the Stand, /with the exception of the Middleham three and Alpenstock, who were saddled at Tattenham Corner. Belladrum alone evoked a recognition from the public such as is seldom met with but by a winner on his return, which gave increased confidence to his backers. At the second attempt Mr. M'George was enabled to lower his signal, and, to tho surprise of the spectators, the cry of "They're off!" proclaimed the commencement of the contest, in which the colours of Neutchatel with Lord Hawthorn were seen prominently in the van, the pair being engaged to ensure a pace for their respective champions, in the rear of whom followed The iEgean, Border Knight, De Vere, Thorwaldsen, Pretender, and Ryshworth, in a body. To these succeeded The Drummer, Duke of Beaufort, Alpenstock, Rupert, and Defender, heading the next division, and at tho head of the last-named were King Cophotua, and Larlas, the rear beinc brought up by Belladvnm, Martyrdom, and Pero Gomez, tho latter, evidently unprepared for the start, beginning but slowly. Before Sherwood Cottage was passed, Wells had quitted his companions, and, when fairly under way, had regained his position, and at the furzes was seen with his stable companion on tho in-sido of tho second division, which ab this period was headed by the favourite, Thorwaldsen, Border Kniglit, The Drummer, and Duke of Beaufort, who, us they passed the mile-post, closed up, and run in company within a couple of lengths of tho leaders, Ryshworth, at tho same time, having taken his place on the in-sido of Alpenstock and Rupert, followed by Martyrdom and Ladas. They ran in these positions to the bend for home, when Neuchatel, who had been for some time in difficulties, gave way, and Lord Hawthorn was then loft with the lead, closely pressed by the JEgeun, Pretender, Thorwaldsen, and Border Knight, at the heels of whom, but wiilo on their right, came Duko of Beaufort, Pero Gomez, and The Drummer, Ryshworth, with Rupert, holding forward positions on the lower ground. The issue at this point became most exciting, for on crossing the tan road liord Hawthorn, having performed liis allotcd task, dropped away beaten. The^E^ean, fluttering in tho front for a few strides, was then added to tho beaten

division, and Pretender assumed the lead, followed by Thorwaldsen, Duke of Beaufort, and Pero Gomez, but unfortunately the last three closed and cnme in collision with such force as to knock tho Duke of Beaufort on to his noso and knees, nearly unseating Cannon, Wells also being most materially affected by the scuffle. Thia misfortune gave Pretender an additional advantage, and as they approached the distance, The Drummer came through and took his place at the girths of the favourite, and for a few strides appeared to have the best of it, the pair being followed on either side by Ryshworth, Duke of Beaufort, and Pero Gomez; but half-way up Mr. Savile's colt was disposed of, and Pero Gomez, having headed The Drummer as they neared the enclosure, now challenged the favourite, whom he neared as they reached the Stand, while the issue was watched with the most intense excitement; Pretender, tiring at the finish, enabled Wells, with a well-timed eflort, to reach his quarters, but, failing to improve that position, he was defeated in the last stride by the shortest of heads. The Drummer was beaten by a length for third place, and close up came Duko of Beaufort, Ryshworth, and Rupert, nearly abreast. Then followed, at wide intervals, Alpenstock, Martyrdom, King Cophetua, Thorwaldsen and Perry Down, who pulled up lame, whipped in by Defender, De Vere, Ethus, andTenedos ; Belladrum and Ladas trotting in last, some distance in the rear of everything. Time, as taken by Benson's chronograph, 2 mius. 52£ sees. Time of 1868 raco, 2 rnins. 43£ sees. The exciting struggle between Pretender, Pero Gomez, and The Drummer, continued to engross conversation on the following day, and on all sides it was admitted that a more magnificent or memorable finish had never been witnessed on Epsom Downs. So close, indeed, was it that it was impossible to tell which animal had won until Pretender's number, "4," was exhibited at the judge's box, this being the same number as Lord Lyons' when ho only defeated Savcrnake by the same distance — a head. Wella thought he had won ; and, after tho pair had passed tho post, said to Osborne, " I've just done you, Johnny ;" but the latter replied, confidently, " No ; it's a dead heat," svhich plainly shows how close a thing it was, tho jockeys being unable to decide. Every one was gratified at tho success of Osborne, who within a year has been married and won the Two Thousand Guineas and Derby — a very unusual but auspicious treble event to land in tho course of a single season. The jockey's aged mother had come all the way from Yorkshire on purpose to see her son win his first Derby, and was not a little gratified and elated at the triumph of one of the best behaved and most masterly horsemen of tho century.