The Sun.
London, England, 1859-09-17 00:00:00

.RAILM

EASTERN COUNTIES.
Mr. Walford, the defeated candidate in the late
election for auditors of the Eastern Counties Rail-
way, has transmitted the following further state-
ment in connexion with that affair. His charge,

it will be remembered, was that Mr. Love, the
chairman, had distinctly intimated that neither
he nor the directors as a body would take part in
favour of any of the parties, it being considered
that the selection should be strictly left to the share-
holders themselves, and that notwithstanding this
Mr. Love at the poll turned the choice in favour of
a personal friend, Mr. Flower, by tke use of proxies
intrusted to him for general purposes. On the in-
sertion of Mr. Walfdrd's original letter an impres-
sion was intimated that Mr. Love would seek to
put himself right by some reply, but he has appa-
rently not deemed it necessary to take any notice
of the matter, although the complaint was not based
upon anything that could be treated as an unwar-
ranted assumption, but upon a written document
in the possession of the aggrieved candidate. On
that point, however, Mr. Love has a perfect right
to consult his own feelings. The shareholders like-
wise, although they will hardly be prepared to jus-
tify anything on the part of their officers that may
appear disingenuous, may feel quite content that
their proxies should be used as on this occasion.
All that need be remarked is, that if ever they find
any unpleasant results from the system, they must
not call for public sympathy. When they allow
directors to nominate auditors, it is just the same
as if a cash keeper in a firm were requested by his
employers to appoint the accountant who is to check
his totals :—" Sir,—You having pronounced some
explanation' from the directors or chairman of this
company necessary with respect to their recent con-
duct in connexion with the election of auditors, I
have been content to wait. Indeed, I feel I have
little further to do with the matter individually,
you having, greatly to the satisfaction of the pro-
prietors, taken it up on public grounds.
" If the chairman chooses to remain impervious
to censure, I am bound to inform you it is not so
with a majority of the members of the board.
Since my first letter in your coluinns, some have
called upon me, and many more have written, as-
suring me that they were no parties either to the
obtaining or the misuse of the general power
proxies by which Mr. Love managed to secure th e
election of his 'own auditor.
" As the letters so received give an insight into
the management sufficient fully to account for the
worst misfortunes of this unfortunate company, I
shall feel that I am doing a service in handing you
copies of them. You will perceive that intrigue and
dissension are in the ascendant, and that might is
usurping the province of right. So far as they
affect the question before us, eight of the board dis-
tinctly deny all participation in the use of the di-
rectors' proxies, several expressing their strong in-
dignation at the proceeding; one declines informa-
tion ! one remained neutral from circumstances ;
and one fully concurred,' his name, indeed, having
been in the proxies.
" In one of the letters you will find the following.
passage At a meeting of the directors at the
London Tavern a few minutes previous to the ge-
neral meeting of the proprietors on the 25th ult.,
the chairman, after making favourable mention of
one of the candidates, Mr. Flower, asked permis-
sion of the board to use proxies in his possession, if
necessary, for that gentleman.' The if necessary,'
I presume, means if he could not defeat me in any
other way; and the asking permission shows that
the chairman considered the general power proxies
as not under his own control. In fact, they were
obtained in the name of the directors.'
" The request was not only not complied with, but
several directors strongly deprecated the idea of
tampering in the election of an auditor. The meet-
ing was suddenly terminated, and the next day the
chairman did turn the election by the proxies in
question.
" The first account Mr. Love has to render is to
h's colleagues, the next to the public, and the third
to the proprietors. With myself he had no com-
punction in breaking faith; how he will justify
himself before the three tribunals named every-
body appears anxious to learn.—Sir, yours most
obediently,
" CORNELIUS WALFORD, JUN., F.S.S., F.S.A.
" 7, Bank-buildings, Lothbury, Sept. 14."

TRAFFIC RETURNS FOR THE 'ABER.

Miles Opened.

Receipts.