The Sun.
London, England, 1849-06-16 00:00:00

EASTERN COUNTIES RAILWAY

COMP./11;Y.
The following report of the Committee of the House
of Commons respecting this Company was issued yes-
terday;—
The select committee appointed to inquire into and re-
port) upon the expenditure of certain sums which ap-
pear a, unaccounted for, under the head of Parliamen-
t;:ry Expenses, in the report which was recently
published by a committee appointed to inquire into the
management of the affairs of the Eastern Counties
Railway Company, have agreed to the following
report:—
Your Committee report, that in accordance with their
instructions, they have inquired into the expenditure of
certain sums, amounting to about 7,6001., which appear
under the head of Parliamentary expenses in the printed
" Report of the Committee of investigation to the
Shareholders of the Eastrrn Counties Railway Com-
pany." Your committee have likewise made inquiries
with regard to certain expressions in the appendix to
that report, which have given rise to rumours injuriously
affecting the character of Parliament. With regard to
these expressions, your committee are unable to state po-
sitively whether they were or were not used by the per-
son to whom they are imputed, the evidence upon this
point being conflicting and unsatisfactory; but they feel
satisfied that no portion of the money in question has
been expended, directly or indirectly, in corruptly in-
fluencing Members of Parliament.
Indeed, from what has transpired in the course of
this investigation, it may be fairly questioned whether
this expenditure has been properly classed under the
head of " Parliamentary Expenses," as it appears
to have been incurred by a self-appointed body, called
the Sise-lane Committee, under the following circum-
stances :

In 1845 three competing lines were before Parlia-
ment, viz., the London and York, the Direct Northern,
and a continuation of the Eastern Counties from Cam•
bridge to York. The Board of Trade reported in favour
of a line compounded of a portion of the Eastern Coun-
ties scheme and a portion of the Direct Northern ; the
cost of which, as stated by Mr. Duncan, was estimated
at 4,000,0001., while that of the London and York was
calculated at 8,000,000/. _ _ _

This report was dated 20th March, 1845. The Com-
mittee of the House of Commons to whom these compet-
ing lines were submitted, after sitting eighty days, de-
cided in favour of the London and York, but as the Bill
could not go through the Lords, owing to the advanced
period of the session, resolutions were passed in Parlia-
ment, enabling the Bill to be proceeded with in the
Upper House in the ensuing session.
In the interval, Mr. liudion joined the Eastern
Counties direction; and at a public meeting of the
Eastern Counties shatiholders, held on the 30th or 31st
of October, after pointing out the evils attending this
contest between the two companies, and the saving of
capital that might be effected by an amicable arrange-
ment between them, invited the London and York share-
holders, by a public announcement made at the meeting.
to come into the Eastern Counties line, and exchange
their London and York for Eastern Counties shares.
This invitation was not accepted, although Mr. Duncan,
solicitor to the Eastern Counties Railway, addressed,
through the press, to the London and York shareholders,
four letters, signed " One of yourselves," calling upon
them to accede to the Eastern Counties proposition.
These letters having failed to produce the effect desired,
in April, 1846, Mr. La'Mert, who describes himself as
" a speculator in shares, and a medical man," and who
was a considerable shareholder in both companies,
called upon Mr. Duncan, and expressed au opinion that
it would be highly desirable to form a committee of
London and York shareholders, and by advertisement to
invite shareholders to join in the movement for an
amalgamation of the two companies. Mr. Duncan ap-
proving of this scheme, a committee was formed of
which Mr. Ll'Mert became chairman. In that capa-
city he appointed Mr. Philippa, of Sise-lane, his private
solicitor, to be solicitor to the committee, and afterwards
induced Messrs. Cash, Shepperson, Huxley, Field, and
Jones, to join him. This was the origin of the Sise-lano
Committee. _ _ _

Mr. Duncan hal previously obtained Mr. Wadding-
ton's sanction for its formation, as well as his guarantee
that all the expenses attending it should be defrayed by
the Eastern Counties Railway Company. It was like-
wise agreed between Messrs. Duncan and La'Mert, with
Mr. Waddington's sanction, that it would be necessary
for the committee to he pssessed of a certain number
of shares, to form a nucleus, round which other share-
holders might gather; and Mr. La'Mert was authorised
to purchase a sufficient number of London and Yolk
shares, with the understanding that he should be indem-
nified for any loss he might sustain thereby. The com-
mittee would thus appear to have been formed on the
responsibility of Mr. Waddington alone, without the
knowledge or authority of the other directors, or of the
proprietors of the Eastern Counties Railway. It was
subsequently joined by a considerable number of London
and York shareholders, but th 3 scheme entirely failed.
The total expenditure incurred by this committee,
under the different heads of advertisements, printing,
solicitor's bills, loss on shares, &c., including likewise a
sum of 1681. given to Mr. Davis, in addition to the pay-
ment of this bill, to purchase his silence with regard to
the proceedings of the Sise-lane Committee, to which he
had occasionally acted as secretary, appears to have
amounted to about 7,600/., the sum which is mentioned
under the head of Parliamentary expenses in the report
of the committee of investigation, and into the expen-
' diture of which your committee were instructed to in-
quire.
It would thus appear, from the above summary of the
proceedings of the Sise•lane Committee, as well as from
the general evidence, that although the objects which the
Sise-lane committee had in view may have been deemed
beneficial to the Eastern Counties Railway Company,
yet the means by which these objects were sought to be
attained were of a questionable character; and, indeed,
Mr.Waddington in his;evidence stated to your committee
that it " was a transaction which had much better be in
oblivion, inasmuch as no doubt it was an irregular pro-
ceeding." Your committee therefore feel satisfied that
it was in consequence of the questionable character of
these transactions that an attempt was made to shroud
in mystery the expenditure of 7,6001., lest further in-
quiry, and " the giving of particulars" should have
tended to " implicate other parties," those parties being
none other than the originators and members of the Sise-
lane Committee.

In conclusion, your committee feel bound to express
heir belief that if Mr. Cash, chairman of the Committee

of Investigation, and the only member of that commit-
tee who had also been a member of the Sise-lane Com-

mittee, had thought proper to state, as the time of the
shareholders' investigation, all he knew with regard to
the Sise•lane Committee, and the expenses attending it,
this expenditure of 7,6001. would not have given rise to
rumours rendering an inquiry necessary for the vindica-
tion of the honour of the House of Commons.
11th June, 1349.

THE EASTERN UNION RAILWAY.
IPSWICII, FRIDAY NICIIT.—A special general meet-
ing of the shareholders in this company was held to-
day, at the office, Brook-street, Ipswich. J. C. Cob-
bold, E3q., M.P., Chairman of tho board of directors,
presided.
Mr. J. F. SAUNDERS, the Secretary, read the notice
convening th© meeting, which was called for the pur-
pose of considering " A Bill to amend the Acts relat-
ing to the Eastern Union Railway Company, with
powers of sale or lease to, or amalgamation with, the
Eastern Counties Railway," and at the conclusion of
the business above-meutioned the meeting was made
special and extraordinary, with reference to the general
affairs of the company, and giving such explanations
connected therewith as the proprietors might desire.
The Bill having been read.
Mr. LECUMERE (London) expressed his disapproval
of the Bill. Nothing would induce him to agree to it.
They had been summoned there at a great loss of time
and expense when their property was at a heavy dis-
count, within a few days of their ordinary meeting, for
the purpose of considering the most absurd proposition.
He was determined not to sanction any further expen-

diture.
Mr. FIELD supported the Bill. lie considered it
highly necessary that the Norwich line should be finished
at once, and of course the directors must have the money
necessary to do it.
The Bill was then, with a few alterations, agreed to.
On the motion of the CHAIRIIAN, it was agreed that
the number of directors be reduced to twelve.
After some further discussion the proceedings closed.

RAILWAY SHARE MARKETS.
BRISTOL, Jura 15.
STOCK ExcnAeeoE.—The share market was rather dull to-day in the
number of transactions. There was a slight improvement in Bristol
and Exeter Shares, which were done at 24 dis.—ureat Western,
Quarters, were more depressed, only realising 6% dis.
LIVERPOOL, JUNE 15.
STOCK Excustiox.—There was a limited business doing to-day, at
rather higher prices. The sal's axe—Lancashire and Yorkshire,
Flails, 4 dis.—Ditto, 321. Shares, 7VI dis.—Ditto, Sixteenths, 4%
—London and North-Western, New Quarters, 2% p.—Midland,
Halves, 13 dis.—North 'Mon (II), 1497,i —York, Newcastle, and
Berwick (G. N. B. Purchase), 6 per cent. till 1650, 765. 3d. dis.
- MANCHESTER, Jim 15.
STocK ExcILME.— The transactions to-day were as follow :
Leeds, Fifths. 4% dis. - Grimsby Docks, 9 J3-16—Whitehaven and
Furness, 13% dis.—Manchester and Birmingham (C), Quarters, 2%
Oxford, Worcester, and Wolverhampton, 20—North Staffordshire,
5% dis.—West Riding Union, 4 9-16 dis.
BIRMINGHAM, JUNE 15.
STOCK EXCHANGE —The only transactions to-day were—Shror
shire Unions, 2% —South Staffordshire, 4% dis.
YORK, JUNE 14.
STOCK EXCHANGE.—The transactions
rittsh, Quarters, 3
low :—Great Northern, 91. 165. 3d.7-North B
d r teat 10%
le N• Div., guarantee apc
Sheffield, Rotherham, and Goo ~ N. to-day have been as fol-
GLASGOW, JUNE 14.
the Stock Exchange
The business done in
Hal
—York, Newcastle, and Berwick (G. N. B. Purchase),4l. is. 31.
503 —York, Newcastle,
(No. I), GI. 1 Is.—North British, Preference, .
) 4/. 4s.—Edlnbargh and Bath-
to-day has been as
andfierwick (U. N. E. Purchase ,
follows :.—Glasgow. Kilmarnock, and Ayr, Nes
gate, 7'4 •

DRURY-LANE THEATRE.—Last night her Majesty
and Prince Albert honoured the German Opera at this
theatre with their presence. The opera selected was
Flotow's Martha; or, the Market of Richmond, which
from the light and pleasing character of its music, has
become as great a favourite with the frequenters of the
London German Opera as it is generally throughout
Germany. Her Majesty and suite arrived at the com-
mencement of the opera, and stayed neatly to its close.
The house was well attended by a fashionable audience,
and the opera went off with great eclat.

ROYAL ACADEMY BALL —The annual fancy dress
ball of the Royal Academy of Music, in aid of the fund
for the relief of aged and destitute musicians, took place
last night, under distinguished patronage, at the
Hanover-square Rooms, which were well filled, but not
crowded on the occasion. The Ambassadors of Russia
and Belgium, accompanied by their ladies, honoured the
ball with their presence. The number of fancy dresses
worn was not very great, nor were any of them striking
for their novelty, but the great purpose of the evening,
that of dancing, was well carried out notwithstanding.
The company had the satisfaction of enjoying this
amusement freed from the inconvenience of an over-
crowded ball-room.