29 JUNE 1867, Page 3

Mr. Leo Schuster has published his reply to the Report

of the Committee of Investigation appointed by. the London, Brighton, and South-Coast Railway, who charged him with bad manage- ment and self-seeking. We have analyzed it at some length, but must state here our strong impression that Lord Westbury has found his match, and that for the first time within our recollection an accused railway magnate has fairly cleared himself. Mr. Schuster has certainly not stolen anything, and the case is by no means clear against his generalship, though it was undoubtedly unsuccessful. The Company have agreed to entrust their affairs to Mr. Laing, who seems to be fast becoming a kind of Federal President in the Railway world.