The Express.
London, England, 1855-12-07 00:00:00

3 EASTERN COUNTIES RAILWAY

We continue oar analysis of the evidence adduced
before the Committee of investigation.
A further examination of Mr. Waddy ' the book-
keeper to the company, on the 13th of September,
showed that the total receipts from Lowestoft Har-
bour from June 1861, have been 29,8611., and the
expenses 24,08-41., leaving a balance of receipts of
6,7871. Up to the 31st Dec., 1863, the Norfolk
Company shared these exposes in common with the
Eastern Comities Company, bat for the bat year and
a half the Norfolk Company have borne only at the
eats of 48 par cent. working expenses on their po-
porde" of the earnings, whilst the per montage of the
expenses to the Eastern Counties Company has been
81 per sent., mating a loss to this company at the rate
of 36 per cent
On the 14th of September, the evidence of Mr.
Owen, the secretary, proved that the directors es-
osived the accounts for the last half-yeet,frem..Lba
bookkeeper on the 24th August. 1666, and ea the
same day agreed to declare the dividend of 4s. 6d.,
although these accounts had not been examined by
the auditors. To this proceeding Mesas. Brace
and Simpson, out of the members of the board, ob-
jected. No steps were taken to invite the auditors to
meet the directors, in consequence of the auditors re-
porting against the amounts. It appears there are
no less than eleven committees formed out of the
board. The members of these committees are pro-
posedsisai% Mr. Waddiugtcn, and, when so proposed,
elected. The desisious of these committees
are " legally absolute," bat are ocessiocally discomed
at the board, and on some occasions have been
amended. Besides these committees, there is another,
called the diem' committee, which "was formed
during Mr. Hadscia's time, and to a very great ex-
tent mama the fasedese of the directors." Mr.
Weddingtea is also the chairman of this committee,
bat no ether member of the board is on it. The
Akers esmpeeing this committee are the goods ma-
nager, the Issomotive superintendent (Mr. Gooch),
the esselliag superintendent, the out-door manager,
the eagissar, and, until lately, the storekeeper.
On the 17th of September, Mr. N. Davis, the
" treasurer" to the company, was examined. He
stated that very long credits, and for a "'rye:tansies
amount, are given for the carriage of coal to the
Norfolk and Eastern Counties Coal Company (in
which Mr. Gooeh was one of the chief partners), to
the Hartlepool Company, and to Messrs. Coots. The
committee's inquiries elicited the information from
Mr. Davis that he has a private banker, and applies
his private account there to the credit of the com-
pany . In explanation be says, "All emery
beakers' cheques are paid by me out of my private
account; I pay in all country cheques to my pri-
vate amount, to keep the accounts straight" He
has no books to show these transactions. As a
rule, he retains some of the company's mosey in
head. Of "last week's" receipts he had paid in
17,7221., leaving a balance of about 6001. for him to
account for.
Mr. Owen, the secretary, was hers called io, and
expressed his conviction that Lowestoft Harbour is
attended with "a very considerable Ices per N."
The committee print in italics the following questions
and answers:—" Q. Do you know the sum received
for the conveyance of cattle A. The charge for
conveyance of cattle from Lowestoft is 6a per head.
Q. Do you' not charge from Norfolk and Cambridge-
shire nearly three times as much ! A. Tee." The
accounts of the Norfolk and Eastern Usicia Compa-
nies, Mr. Owen mentions, have not been kept
separate, but he has "always ensidered that the
time would arrive when it woad be very desirable
that they should be eo kept separate."
Mr. N. Davie was here recalled and stated that he
receives a special "allowance" of " sixpeaos per
ant sometimes more." out of which be males 701.
or a year. Mr. Brae, a director, was next
ethesined. He thought Mr. Davis paid is all
=
sad moneys daily through the company's
It is the first time be ever heard that a
I, sharp is made by Mr. Davis to the company for sash
cheque he receives on a banker. not payable in 'An-
don. Mr. Broom was then asked is What way does
a proper examination take place of the amounts of
psi bought for the stores department, and in reply
made some surprising revelations. In Marsh last,
having mods several inquiries from Mr. Wthimme,
the storekeeper, relative to the priors paid fee seeds.
aml bath, reserved unsatisfactory assess% Mr.
Brass mewed a resolution that the storekeeper amid
knish to the finance committee a return of
the googlies,
.prices, &a, and the dates et
rof certain stores. This motion was mated
theanchairman (Mr. Wsddiagton), who said that
Williams's feelings:oeibt not be " insulted" by
such a demand, Mr. Williams being "a gentleman.
The maim was also opposed by the deputy-chair-
man (Mr. R. Paterson), who stated that the inquiry
ought to be limited to the period since the let of
January. Mr. Bruce however, persisted, sad
brought the matter before the board, and, having
them shown that several articles had been par-
sired at from 40 to 60 per cent. above their
market value, the board agreed to his regalia= that
a return should be furnished by Mr. Williams. the
stessiteeper. Previously to the furnish*, el this is-
tam Mr. Brace investigated these amounts mere
steady sad Mad that the company" had boss wor-
thier& km Games to an enormous extent." For in-
elease, block tin, which had not been higher than
I lib.pr owl. in 1864, was charged 188..; sheet tin
was charged hoot 4D to 60 per cent above the reveler
pekes ; horsehair, which could have been bought at
118.6 d. a pound for best quality, was charged at Ise
le. 84., and 2.5. 91 per lb., in quantities of these
less and two coos. The whiting, which is
*barged la Bd. per owt,was set down at 3e. Lindwas also overcharged. " Immense quantities" of while
cotton waste, which could be purchased of exosibilti
- under 305., stood at 36.. Pe-nit metal, alter
(d. per