The Sun.
London, England, 1855-11-30 00:00:00

THE TREASURER.

Your committee consider the present system of keeping
the cash account of the company very objectionable, and
that no part of the cash balance should be permitted to re-
main in hand, but all receipts be paid into the banker's,
and all payments be made by cheque therefrom. That a
c sshier be.appoin ted, whose duties it shall be to balance the
cash account daily, and agree the same -with the banker's
book; and that the practice of sending cash from all stations
to London be avoided in all cases where practicable, and
where responsible bankers may be found to remit the same
—great risk and loss of time will be thereby avoided.

THE CHAIRMAN. -
After much consideration, and the collection of a large
mass of evidence, we come to the deliberate and unanimous
opinion that the election of a chairman at a salary of 2,0001.
a year has acted most prejudicially to the interests of the
company. Ist. It has decreased the influence of the indivi-
dual members of the board, and weakened the responsibility
which should attach to all men accepting the offic3 of di-
rector. 2d. It has, bysplitting theboard upinto committees,
of all of which the chairman is ex officio a member, sepa-
rated the board as a collective and deliberative body,
and has in great and small matters of policy thrown into
the hands of the chairman almost the entire management
of the company. This is too manifest; for, on our inviting
many individual members of the board to give us evidence,
most of them were uninformed on many important steps
taken (some of which were obviously prejudicial to the
interests of the company) ; they evinced an amount of
ignorance on these matters which could not have been the
case had the board been differently constituted ; and we
feel certain many of the ruinous bargains entered into
could never have been permitted had the chairman been
under the control of a properly constituted and deliberative
body. This opinion will be fully borne out by the evidence.
It is only just to state to the shareholders that there are
some gentlemen on the direction who have withheld their
consent froth several of the measures that have passed the
board, and who would have prevented" much of the mis-
chief done, if they had had the power to do so.
In concluding this report, the committee of investiga-
tion believe that they have furnished to the shareholders
an amount of evidence, which, if carefully perused, will
convey to them a complete knowledge of the affairs of this
company; that it contains a detailed representation of the
workings of this railway, and of those matters on the good
or bad management of which depends its prosperity. Your
populousinga tradedistri districts, richn now in
greater al l
committee have given near three months of their time, and
much anxious deliberation, to the points reported upon ;
and they believe that your line of railway, passing through
out, ought to be, and ifagricultural than they
an
(
hp
properly managed would be, re-
munerative. (Signed)
HORATIO TAME, Chairman.
EDWARD BALL.
THOMAS CHRISTY.
JEREMIAH PILCHER.
HENRY SoPutif.'
P.S.—Shareholders wishing to attend the adjourned
meeting on the 7th day of December next are requested to
apply for free passes over the lines of this company to Mr.
Owen, the secretary, at the Bishopsgate Station.
N.B.—Mr. Norris, from continued indisposition, was
absent from the later meetings of the committee, and was
at the conclusion of the report confined to his house, and
unable to sign his name to the report.

( From the Times City Article.)
The long-anticipated report of the committee of investi-
gation on the Eastern Counties Railway has been issued
this evening, and not only sustains all the charges brought
by the auditors against tho management, at the last meet-
ing, but states that those charges. worn_ far below what
would have been warranted. It is asserted that. no cor-
rect balance has over been.struelcin the stores department
since Ur. Waddington was
_chosen chairman, that goads