Trouble loading files in batch mode

[Davin Pearson]

When I run the following command:

emacs --batch -l ~/hello.el

Emacs complains like so:

Cannot open load file: /d/home/hello.el

But when I run the following command:

emacs --batch -l hello.el

it works fine.   please note that in both cases the file hello.el
exists so Emacs should be able to find it.   Here is the version
information:

In GNU Emacs 22.2.1 (i386-mingw-nt5.1.2600)
 of 2008-03-27 on RELEASE
Windowing system distributor `Microsoft Corp.', version 5.1.2600
configured using `configure --with-gcc (3.4)'