The Express.
London, England, 1849-04-27 00:00:00

principles are adopted, it will not offer the advantages of a
safe sedleentunerative investment.
WILLIAM CASH, Chairman.
Tnoxas
fleece V. Lane.
Samar. Ram.
JOIIIPE Cavar.
Waraw MataiW.
Osoma Minx.
Moues Sitsawoon.
Portscalre.—lt may be as well to account for an appa-
rent between the statement of the peg ludf
year's trs c seemate, mad* in the report of the sesonsittee,
and that of the accountants Ica the Appendix G. By the
former it will be sees that nerbalmos mains sufficient fora
dividend, while the latter shows the power of peag a divi-
dend of is. 4d. In the raceonntaais' reset, the item for
I raillag stock of 84,4781.95. 3d., which had been w
to capital, was not ineladed, es theyrin
oat for the purpose of enabling the Committee to deal with
it as they thought nght ; of course they could not allow it
to remain a the capital amount, but they did not think it
right to charge the whole of it to any me half year's trate
media, and in this view the committee agreed ; bat cesa
dewing the large Isms with which capital had been already
Improperly charged, and the mount of liabilities which
must be provided for, the necessity of resorting to the bor-
rowing powers of the Company for this purpose and the
Importance of maintaining its credit, the committee could
not hesitate that the whole amount should be immediately
disposed of, end that in the only right way.
SZOOND Porramer.—Since the presiding report has been
printed, the attention of the committee has been directed to
a transaction which it is necessary to detail to the share-
holders. The Wished*, St. Ives, and Cambridge Junction
Railway originally negotiated with the) Eastern Counties
Railway an agreement, which resulted in an allotment of
one-third of the shares of the former company to the latter.
Subsequently, the Eastern Counties Company purchased
the entire line of the Wisbeach, St. Ives, and Cambridge
Junction, for 21. per share premium upon the shares then
issued by the latter company ; which premium, of coerce,
did not extend to the ono-third to which the Bittern
Counties Railway proprietors were entitled, for these
l= banged to them. The scrip which rena-
the two-thirds upon wlich the premium was to
be paid was presented and paid by the Eastern Counties
Railway Company. On investigating the amounts of the
Wisbeach, St. Ives, and Cambridge Railway, as stated in
the books of this company, and comparing them with the
scrip so paid, it was discovered that 2,0001. was paid to Mr.
Hudson and 2,0001. to Mr. Waddington, for which no scrip
could be found ; nor have your committee been able to areer-
tale that say other authority than that of Mr. Hudson and
Weddiagton themselves given to Mr. Remy, misted for
these payments. Whether Mr. Hudson and Mr. Wadding-
ton ever paid the deposit upon the 1,000 shares, In respect of
which the som of 4,0001. was paid, we have endeavoured to
lama; and it is probable they did so, because there steals at
the credit of tie Wisbeach and St. Ives amount, in the books
of this company, the sum of 2,0001., against which there is
to explanation.
Eastern Counties Railway, Biehopegate Station,
Apnl 24, 1849.

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