The Sun.
London, England, 1858-08-28 00:00:00

~r4

body of those engineers and contractors the working of the
railways of the kingdom.
The CHAIRMAN begged to observe that nothing which
had fallen from him would justify the honourable proprietor
in making such an assertion. Mr. M‘Laren bad entirely
misrepresented him. Contractors and engineers were the
last people in the world who should be called upon to work
railways in the way lie (the chairman) had suggested. The
persons to whom he alluded were the great carriers, such as
Messrs. Pickford, Mr. Chaplin, and Mr. Horne.
Mr. WLAREN said it bad been intimated to him by a
contractor some years ago that he would work the Eastern
Counties line, and in a very short time pay the shareholders
double the dividend they were receiving; but however there
were conflicting interests, which would not admit of such a
system of working being carried out. He (Mr. M'Laren)
had no doubt that the chairman and his colleagues would
countenance the suggested system, and that ere long it would
be found in existence. He ventured to say that at the head
of the affairs would be found the engineers and contractors
of the country. He regretted that the chairman should have
felt it necessary to give so flat a contradiction to the state-
ment which he(the speaker)made the other day; he alluded to
the loss sustained by the Eastern Counties Company in
consequence of their connection with the Telegraph Com-
pany. He dates the loss from the agreement of 1849. He
was ready to prove, on fair and equitable principles, that
the effect of the agreement before the amalgamation
between the companies took place was to cause a loss to
the Eastern Counties Io the extent of £140,000 or £150,000,
simply for the benefit of the Norfolk. (Cries of " Oh,
oh.") He meant the first agreement. He was ready to
prove what he had stated in the public papers. He must
bring to the recollection of the chairman that the whole
of the rolling stock of the Norfolk, the stores and everything
else, were taken by the Eastern Counties because the Norfolk
were unable to pay the money borrowed from the former.
He must repeat what he had stated at a previous meeting,
that the Norfolk Railway, when it was handed over to the
Eastern Counties, was in a most disgraceful state; and that
it had required an outlay of £209,000 to put it in repair.
This was up to the year 1857, and yet not a single shilling
of that amount came out of the pockets of the Norfolk
Company. He was nexticharged with having stated that
the amalgamation had been a loss to the Eastern Counties.
He was ready to prove, and that by incontestable evi-
dence, that such was the fact. He would instance one fact
in support of his assertion. The rolling stock of the
Eastern Counties had cost £1,230,943, and the proportion
of interest which the Norfolk ought to pay in respect of this
would amount to £B,OOO or £9,000, but that company had
not paid anything in this respect. This matter ought to
have been an element in the calculations made between the
companies at the time of the amalgamation. He repeated
that the amalgamation with the Norfolk Company had been a
disastrous one to to the Eastern Counties Railway.
The CHAIRMAN had never been so much surprised in his
life as he was at the observations of the hon. proprietor.
They had perfectly astounded him. (Hear, hear.) He had
now before him the report of the Eastern Counties line for
February, 1857, which showed the expenditure in respect of
the restoration of the permanent way for associated lines.
That amount was £191,000.
Mr. WCLAREN repeated that it was £209,000.
The CHAIRMAN—But there were the facts, and unless
the Eastern Counties kept back an enormous amount, which
he did not think likely—(hear, hear), the statement must
be, undoubtedly, as the outlay on the 500 miles. The charge
against the Norfolk line was, as he bad stated, £62,000.
This was the expenditure over and above the guaranteed
cast of the working.
Mr. 11PLAREN—Now you have stated the fact.

The CHAIRMAN—Whit the hon. gentleman was doing
was to shelter himself in this way to get out of the misstate-
ment he had made—he added to the original estimated cost
of putting the line in order the amount charged over a series
of past years—(hear)—which he (the chairman) must say was
a most disgraceful attempt to injure the Norfolk Company
(Hear, hear.) As to the interest which the honourable pro-
prietor said was due to the Eastern Counties as interest on
the rolliug stock employed in working the Norfolk branch,
the fact was that the question was fairly taken into con-
sideration at the time of the amalgamation. He had settled
the terms on which the division of traffic took place, and
he at the time considered the Eastern Counties were entitled
to one-sixth, instead of what they now received—one-
seventh. But for the sake of peace and amicable working
between the present associated companies, be gave
way ; but the begged to say, that the interest in the
rolling stock, spoken of by Mr. M'Laren, was fully gone
into, and fairly and satisfactorily dealt with.
The report and accounts were then adopted, and
Mr. M'LAREN moved a vote of thanks to the chairman
and directors. The resolution was carried unanimously.