The new board, facing a financial crisis, had identified a number of issues including the provision of a new terminus station at Liverpool Street, Bishopsgate (the existing terminus) was to be converted to a goods terminal and a new coal depot to be built in Whitechapel. The financial environment was still proving difficult with losses on the London and Blackwell line and a cattle plague seriously affecting that traffic. By March the board was meeting most days in an effort to keep the railway running.