The Sun.
London, England, 1849-04-12 00:00:00

various brokers in the country, and they cost me
from 211. to 211. 12s 60. per share for the whole 600.
Mr. FLEWS'S Re-examination resumed.

Mr. Love—When did you forward to the directors of
the York, Newcastle, and Berwick Railway Company
the calculation previously referred to?—To the best of
my recollection on the 27th or 28th of October, 1846;
but I have no written record of the matter.

Mr. Shield—You have exhibited to this committee a
calculation in detail of the value of the 151. shares, did
you forward this detailed calculation to the board at
at York?—l did not.

Mr. Prance—Did the late Mr. Oxley, in compliance
with a wish expressed by the board of the York, New-
castle, and Berwick Company furnish, as well as your-
self, a calculation of the value of the several descrip-
tions of Great North of England shares?—We com-
pared the two statements in the board-room of the
Great North of England Railway; I sent mine to York,
and I have no doubt he sent his also.

Mr. Shield—Your own paper does not contain a de-
tailed calculation of the value of the 15/. shares; did Mr.
Oxley's paper contain such a detailed calculation ?—I
really cannot say, we compared them as to the amounts,
but I cannot state whether his contained the detailed
calculation or not.
Mr. CLOSE'S Re-examination resumed.

Mr. Lova—Did you write to Messrs. Lawrence, Ceze-
nove, and Co. in the early part of the year 1848 re-
specting the commission they bad charged on shares
purchased by them, and suggesting that in lieu thereof
the full commission should be charged ?—I do not re-
collect having done so.
Mr. Love—Did you at any other period ?—I am not
aware that I did.

SATURDAY, MARCH 24.
Mr. PETER READ Examined.
Mr. Loge—Are you confidential clerk to Messrs.
Laurence and Co ?—I am.

Mr. Love—Have you Mr. Hudson's consent to answer
any questions respecting the purchase of Great North
of England shares, by Messrs. Laurence and Co., for
Mr. Hudson ?—I understand Mr. Hudson has directed
our house to give every information to the committee our
books may afford.

Mr. Love—Have you bought, for Mr. Hudson, any
Great North of England shares besides those stated in
the three papers I now exhibit ?—Yes, we have.
Mr. Love—Be so good as to exhibit them.—The first
purchases are for the 16th October, 1846.
Mr. Love—Be so good as to state what other purchases
were made by Messrs. Laurence and Co., which are not
contained in the papers exhibited.—On the 27th October,
1846, we purchased forty-one 151. shares of Tudor, at
19i premium; on the 29th October, twelve 1001. shares,
at 237, of Mr. Prance; on the 12th November, eight 100/.
shares, at 236, of Faulconer. The whole of these were
bought for the 16th November.
Mr. Love—Did you buy any other Great North of
England shares in .that year for Mr. Hudson?—Not in
that year.
Mr. Love—When did yell next begin to buy Great
North of England shares for Mr. Hudson 2-24th Jan.,
1848.

Mr. Love—Does this account current exhibit those
purchases?—They do.
Mr. Love—On whose account have you entered those
shares in your books?—G. Hudson, G.N.E. Railway
Company.
Mr. Love—When did you write G.N.E. Railway in
that book?—At the time the purchases were made.
Mr. Love—Did you enter it in that manner to sepa-
rate the account from Mr. Hudson's private purchases?
—Yes; that was the sole object of it.
Mr. Love—Have you bought any Great North of
England shares, by Mr. Hudson's order, since January,
1848, excepting those of which you have rendered this
company an account?—We have not.
Mr. Shield—Did you buy for Mr. Hudson, on the 12th
November, 1846, 342 Great North of England 40/. shares?
—Yes; we did.

Mr. Shield—From whom did you purchase those
shares?—Of a principal.
Mr. Shield—Will you state the name of that principal?
—lt is not customary to reveal the names of principals.
Mr. Shield—When a principal employs you to pur-
chase shares, has he not the right to demand from you
the name of the principal from whom you purchased
them?—l do not know the law of the question, but it is
not usual to do so; I believe there has been a correspon-
dence about this.

Mr. Shield—ls it the practice of your house to refuse
to give the names of the principals from whom you pur.
chase shares when you are requested to do so by the
principals who employ jou to purchase them?—The
business between a principal and his broker is considered
strictly confidential, and where transactions take place
between principal and principal, the names are never re-
vealed.

Mr. Shield—Even when a demand is made by one
principal for the name of the otber?—l never remember
such a demand.

Mr. :Shield—lf such a demand was made to your
house for the information would they refuse it?—That
would be a matter for them to decide, not for me.
Mr. Shield—Do you know the writing and signature
of this letter, in which your house admit they have re-
ceived from Mr. Hudson a particular request that they
should furnish the committee with full particulars of
names, dates, and prices of the 342 Great North of
England 401. shares?—Yes, I do: it is the writing and
signature of Mr. Sidney Laurence.
Mr. Shield—After reading this letter, do you still
refuse to state to the committee the names of the prin-
cipals frcm whom you Lought these 342 401. shares?—l
do not think that with this letter before me, in the last
paragraph of which Mr. Laurence states that a broker
has no authority to disclose the name of his principal, I
should be justified in giving any fuller information.
Mr. Love—Are you not aware that Mr. Hudson has
been furnished with all the information he has desired
on the subject just refermd to?—I think he has.
Mr. Lore—Will you be good enough to refer to the
letter dated Novenrier 6, 1846, addressed to Mr. Close,
in relation to those shares, and state whether it does not
convey all the information Mr. Hutson desired as to the
principal?—Mr. Hudson did not request any (Aar -
matiol than this letter contains.

Mr. Clayton—Do you find in Messrs. Laurence's books
the notice of any purchase for Mr. lied on of Great
North of England shares previous to Oct, 1846?--No.

Mr:CLOSE'S lte:examination resumed.

Mr. Love—Can you now tell the committee what
shares were delivered by Mr. Hudson to this company
for which he was paid 81,1001. on the 27th Oct., 1846?
—I am not ab!e to specify the shares.
Mr. Love—Are you quite certain that shares amount
ing to 81,100/. were delivered to the company at that
time?—l cannot speak positively.
Mr. Love—Then you will not undertake to say if any
or what amount was then delivered P—l cannot state the
exact amount then delivered.
Mr. Clayton—Do you manage Mr. Hudson's cash
affairs, and act as his private clerk?—l partially manage
his cash affairs, but not all.
Mr. Love—Would you not, in the execution of your
duty as secretary to this company, consider it necessary
that no money should be paid by the company for iro
petty purchased unless delivered at the timer—For the
Purchase of shares, it becomes necessary sometimes to
pay for them before you get the shares of the brokers.
Mr. Love—But even in that case, if bought in those
markets where there are settling days, they would be
paid for on that day?—Yes.
Mr. Clayton—Did you manage the payment by Mr.
Hudson for the shares bought by him and afterwards
sold to the company ?—I cannot say for the whole, but I
did for part.

.
Mr. Love—Can you show us Mr. Hudson's pass book
for the payment of the Great North of England shares,
bought by him in his private capacity and soil by him to
the company ?—I cannot show his pass book, and I am
not aware that he has one; I never saw one.

Mr. Clayton—Have you any means of giving us the
dates of Mr. Hudson's payment for those shares?—No;
I have no means.

Mr. Clayton—You put in, on the second day of this
investigation, a paper which you called a contract, de-
tailing the particulars of all the Great North of England
shares sold by Mr. Hudson to the company; you do not
appear to have stated distinctly at what date you pre-
pared that paper; can you now tell the committee at
what date it was prepared ?—I cannot state positively
the exact date, but I think it would be either on the
27th of Nov., or a few days previously.
Mr. Clayton—What reason have you for believing
that that was the date?—l think it would be about the
time when the cheque was given when the transaction
was closed.
Mr. Love—Then it appears you paid Mr. Hudson a
cheque for 81,1001., onithe 27th October, without hav-
ing made any memorandum whatever of the shares sold
by Mr. Hudson?—l think I stated that I could find no
calculation on which that 81,1001. had been paid, it
being part payment.
Mr. GEORGE HUDSON'S Re-examination resumed.

__. _..
Mr. Shield—On November 12, 1846, Messrs. Laurence
and Co. bought for you 342 Great North of England 401.
shares; can you furnish the committee with the corres-
pondence, or any extract therefrom, relative to this pur-
chase?—They have furnished me with an extract from
a letter dated 4th Nov., 1846, " We mentioned a few
days ago that there was a parcel of Great North of
tngland 401. shares in the market; they are now oft-red
to us at fitl premium; are they not cheap in comparison
with other shares 7"
Mr. Shield—What reply did you give to that offer?—
I offered them 55 premium.
Mr. shield—Did they, ou the 12th of November, give
you a reply to this offer?—The reply is an extract from
t 0
a letter, " We have only now succeededhin ssec at _ 5
_ prbe.
parcel of Great North of England 401. s are , 5
mium, payable on Monday next."
do not
the name of the prin.
shares?-lillelhdareDnido tdhoeuyb doubt ha
Mr. Shield—Did they gievi2 xoenno_
lam not able to
abroguet
17t.0u brokerage on those
cipal of whom they purc.has d tu
greicvooliletcitowthbeisthoeorr
Mr. Shield—Di.d they state to you that they them
rtehsepycoadiddenocre.did not, but they
et from a
principals ?—I have an extra
reference to these
M re Laurencestate There i' '
shares, in which ems., ,
for they belong to
is ono
advantage we can offer in the parcel in question, that we
letterseie datedwere the
nth of November, in
youof outirlse, a heavyndh advancedasttianragpsC
hold th( m for you, or transfer them at a no-
minal 23
principals
s
them, they have been registered in our name, so that w e
can either
minal consideration."

Mr. Clayton—On a former day you gave the 27th of
October, 1846, as that of your sale to the company of
Great North of England shares, which sale appears to
have included the shares which have been juet referred
to as bought in November. How do you account for
this 2—There were two cheques given for the money,
one on the 26th of October, and another on the 27th
of November; and certainly the-impression on my mind
and conviction was as I stated, that all the shares I pur-
chased for the company were bought in the month of
October. I have no recollection about these shares at the
time, and Iskresume they were included in the October
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