The Sun.
London, England, 1855-02-02 00:00:00

METROPOLITAN RAILWAY (Paddington
to the Post-ofilee). Capital 1,000,0001. (wall the usual bor-
rowing powers).

,
-
DIRECTORS.
WILLIAM MALINS, Er(' , 61 ontagu-square, Chairman.
ACTON S. AYRTON, Esq., Grafton-street, Bondqtreet, Deputy-

Chairman.
Anthony Kington Baker, Esq., Cheltenham, Director of t le Great

Western Railway Company.
Samuel Baker, Esq., Thorngrove, Worcestershire, Director of the
Great Western Railway Company.
Thomas Bulkeley, Esq , Clewer-lodge, Windsor, Director of the
Great Western Railway Company.
Thomas Edward Dicey, Esq., Princes-terrace, Hyde-park.
Charles Wilson Faber, Esq., Doncaster, Director of the Great North-

em Railway Company.
Ponamy Price, Esq., Princes-terrace, Hyde-park.
Lightly Simpson, Esq., Ridgway Oaks, Enfield, Director of the East-
ern Courties Railway Company.
Thomas Williams, Et.,4., Grove-end-road, St. John's-wood, Director
~f the Great Western Railway Company.
Two seats reserved, under arrangement ) Directors of the
with the London and North-Western Rail- ( London and North-
way Company, to .be filled by Directors of Western RatimaY
that Company. Company.

AUDITORS.
Benjamin John Armstrong, Esq., Upper Witnpole-street.
Sampson Copestake, Esq. (Messrs. CopestAlte, Crampton, and
Moore), Cheapaide.

BANKERS.
Messrs. Heywood, Kennanls, and Co., Lombard-street.
Messrs. Arthur Heywood, Sons, and Co, Liverpool.
The Bank of Manchester, Manchester..
Engineer—John Fowler, 'Esq.
Assistant Engineer and Architect—J. nargrave Stevens, Esq.
Solicitor—Wm. Burchell, Esq., 47, 2arliament-street.
Secretary— John Henchnasus, Esq.
Offices of the Company—go. 27, Great GeQrge-street, Westminster.
Brokers—Messrs. Edward
bEuilllis andingsd Co., 2, Royal Exchange-
This Company was incorporated by an Let of Parliament passed
last session, but, having been formed by private subscription, it was
deemed expedient to defer the public allotment of shares until the
arrangements of the Company were in a mare advanced stage.
The Company is constituted for the purpose of making a rail-
way four miles and a quarter in length, to connect the West End of
London and its North-Western suburbs the ceatre of the City.
It will start from the Great Western Station at Paddington, running
along the New-read to Euston-square, King's-cross, and thence
through Clerkenwell to Its terminus at the General Post-office, in
St. Martin's-le-Grand. The line for the greater part of the distance
will run beneath the surface of the roadway, through a spacious
arcmhuweahyt,ireivrchaswevillnbseintnheodroinugthhleyrovreuintalltartionedoafnda lighted.
Direction, which
would comprise members of the Boards of all the great Railwa
Companies north of the Thames; and ha the consideration of In
important offer of responsible parties to subscribe a separate capital
of 200,0001., and to maintain and work the Railway on terms which
would have secured to the company a minis num net manual income
of 75,0001., and, in addition, one-third of 'the gross receipts above
120,000/.

The present Direction havitg at length been organised, and the
working offer declined, in deference to the strongly-expressed opinion
of the Great Western Railway Company, the:: it would be better for the
proprietors to retain the entire control of the. line and its receipts in
their own hands, the Directors have deten nined at once to appro-
priate the unallotted shares to the public at par.
The capital of the Company is 1,000.00 31., to be divided into
100,000 shares of 101., of which upwards of 600,0001. is held by re-
aponsible parties, inclusive of 175,0001. tak.et t by the Great Western
Railway Company. The whole Parliaments .ry deposit has been In-
vested partly In Consols and partly in Exchequer Bill., and besides
the accruing interest both securities have increased in value since
they were purchased.
A deposit of IL per share will be payable. on allotment, and calls
of 11. per share will be made every three. *months until December,
1856, when the last call of 21. per share will be payable, before which
time the line will be opened for traffic, and. every shareholder will be
allowed to retain half-yearly a sum eqrtal to 51. per centum per
annum on the whole of his paid-up capital en paying the last call in
advance, on or before the 24th June next.
The line will unite with the Great 1/re stern, the London and
North-Western, and the Great North( m Railways, and also, by
means of the North London line, with the Eastern Counties and the
South-Western Railways, and thus bring into conjunction all the
existing railways on the north, and one of the principal railways on
toe south , side of London, and connect the an with the Post-office and
the heart of the City.

To secure for the public service the "grout convenience and saving
of time" desc►ibed by Mr. Rowland gill hi his evidence before the
Committee on the Bill last session, the milt; will be carriel into the
basement of the General Post-office.

Stations will be established every half mile, and trains will be run
in rapid succession and at low rates, to accommodate the endless
stream of traffic continnally passing between every point on the line
of railway. As no train will be allowed to start for any station until
the departure of the preceding train from that station, no collision
will be possible.
Contracts have been entered into with r emponslble contractors for
the construction of the railway and werlor. The cost of the entire
railway, with suitable stations and works complete in every respect,
has been carefully re-estimated at the con tract prices, and, including
a liberal allowance for preliminary, professional, and other expenses
up to the opening of the line, will not exceed 1,200,0001. As more
than two-thirds cf the entire line will be carried under roads and
open spices, where no compensation will be payable, this estimate
may be assumed as amply sufficient.
S9IIIC idea may be formed of the inag allude of the traffic front
the fact that the omnibuses plying hetw et ii various points which
the railway will in a great measure :accommodate make 3,258
journeys daily, and the passengers have been estimated at 48,870
daily; and it to these were added the travellers by cabs and other
vehicles, and the usual increase from the facilities and cheapness of
the rail, a passenger traffic would be shown too enormous for the
received notions of the capability of the r aaiway ; the estimates are,
therefore, limited to an average receipt per train'not exceeding the
average take of the trains on the main line of the Illackwall Rail-
way, although it is believed that experience will prove that more
than twice that amount will be safely and. conveniently accommo-
dated. Ihe river steam-boats above bridgo, touching as they do at
places removed from the great thoroughfares and at uncertain times,
are yet computed to carry 150,000 passengers daily.
Taking, then, the trains to run every Ave minutes through the
day, from 8 a in. till 10 p.m., with extra trains during the busy
hours, from S to II in the morning and fxom 3 to 6 in the afternoon,
the daily trains will be as under :
Trains every five minute, or per hour 12 x 14 = 168
Additional trains per h0ar............. 8 x 6 = 48

216 each way x 2 = 432 trains per diem. —216
The average take on the main line of the Blackwall Railway is 7s.
per mile per train, then-
-432 trains x 4, the mileage, 1723 x 75., the take per mile,
= 6041. 16s. per diem.
Which, at 3d. each, would be 48,384 passengers —less than the
estimated present number et omnibus travellers, without cabs or
increase.

6041. 163 , the daily receipts, a 313 = •• .. £189,302 Bs. per ann.
Two-thirds of the above receipts as the San-
_ _

day tram; £403 4s. x 52 =
The receipts from small parcels and from
goods during the early morning and. the
night may be reasonably estimated at 20,000 Os. „

Total estimated receipts .. £230,255 16a. „
Take 35 per cent. for expenses .. 00,590 12s. „
[The entire expenses of the tlackwall Rail-
way for the past year were only £32,000.] ---
Net profits .. • • .... .•. .. £149,668 4s. „
Or nearly 12% per cent. on the estimated outlay of £1,200,000.
These estimates have been well coasidered, and are as likely, it is
believed, to be below as above the actual earnings of the line.
Application for shares of 101. each to be made on or before
the 12th day of February, 1855, addressed to the Secretary; or to
Moors. Edward Ellis an I Co., 2, Royal Exchange-buildings, LOA.
den ; and, ix ord. rto Insure the applications being bona fide from
responsible persons, they must be accompanied by the receipt of
the Compeny's bankers fi,r the sum of ss. per share, to be retained
on account of the deposit of 11. per share, it any of the shares ap-
plied for be allotted, or, if otherwise, to ba returned by the bankers
to the applicant on or after the 15th day of February. being the day
on which the allotment will be made; but in ease the balance of the
deposit of 11. per share be not paid on o• before the appointed
day, the bs per share will be absolutely fort ited to the Company.
Applications for shares must be made in the printed fotms, which
may be obtained by application to the bankers, the brokers. or the
Secretary of the Company.