The Sun.
London, England, 1864-03-11 00:00:00

Deputy JONES, chairman of the Law and Parliamentary
Committee, said he perfectly concurred in the views that
had been expressed as to the desirability of doing something
to put a stop to the proceedings that were now going on,
but it had always been customary to place such matters
in the hands of the LEiw and Parliamentary Committee,
and it appeared to him that it would tend to weaken their
powers if they were divided between two committees. He
therefore suggested that either the Special Committee or the
Law and Parliamentary Committee should act alone in the
matter, and undertake the entire responsibility.
Alderman ROSE, M.P., said that ho could not see any ob-
jection to the two committees acting together, and he hoped
that nothing would be done to cause delay in endeavouring
to put a stop to the mischief with which the city of London
was threatened. (Hear, hear.) He could assure them that
it was a very serious question indeed ; and ho would remind

them that during the course of construction of the Metropo-
litan Railway the trade of one street in their line of works was
entirely annihilated. (Hear, hear.) He would leave them
to judge what would be the effect of a similar proceeding in
the city of London--hear, hear)—and he had no hesitation

in saying that if many of the proposed projects were carried
out the result would be that the trade of the city would, to
a great extent, be entirely destroyed. (Hear, hear.) These
railway projects would, also, not only interfere most disas-
trously with the trade of the city, bat also with the leases,
rents, and a great many other important matters, and all
business arrangements for the future would be at a complete
standstill. (Hear, hear.) He could also inform them that a
great many of the bills had already been read a second time,
and that there was no time to be lost. (Hear.)
Mr. H. LOWMAN TAYLOR expressed his opinion that the
citizens of London and the public generally wore very much
indebted to the memorialists for coming forward as they had
done in this important matter, and that such powerful co-
operation must have great weight. (Hear, hear.) He was
very glad to see that a proposition that had been made in
the House of Commons, that a committee of engineers
should be formed to decide which of the proposed railway
projects were likely to be the most advantageous to the public
had been opposed by Mr. Milner Gibson ; and in his opinion
no body of engineers or professional men, however respectable
they might be, ought to be entrusted with such power as
would have been conferred upon such a committee. (Hear.)
He agreed with the memorialists, and as three termini of
railways had already been sanctioned, in the heart of the
City of London, enough had been done for the present, and
that it was extremely advisable that all the other projects
affecting the City should be postponed, at all events for the
present. (Hear, hear.) It gave him great satisfaction to
see that the merchants of the city of London had moved iu
the matter, and he thought that the Parliament would not
fail to givo effect to an expression of opinion from such a
high source. (Hear, hear.) He quite concurred with the
object in view, but it appeared to him that it would be bettor
for the whole matter to be placed under one committee, and
although he was aware that the Court was very fond of
new things—he supposed upon the principle that new
brooms sweop clean—(No, no, and laughter)—still he could
not help saying that ho thought it would be better for the
matter to be referred to the Law and Parliamentary Com-
mittee, which had always dealt with such subjects.
Mr. RICHARDSON opposed the suggestion of Mr. Taylor,
and said he hoped the matter would still be left in the hands
of the special committee, which ho said he was sure would
act with energy.

The LORD MAYOR bogged to be allowed to say a few words
upon the important subject before the Court. (Hear, hear.)
He said it appeared to him that there had been so much
mischief effected by the proceedings of the different railway
companies, and so much more was likely to be done if some
stop were not put to these proceedings, that it was a matter
of urgent necessity that everything that was possible should
be done to procure a postponement of a great many of the
schemes affecting the city of London that were now before
Parliament. (Hear, hear.) If they only considered for a
moment, they would see the enormous amount of work that
was to be done in the city of London that had already re-
ceived the sanction of Parliament. His lordship then men-
tioned the various important works about to be commenced,
enumerating among them the new Dead Meat Market, the
new street from Blackfriars-bridge to the Mansion-house,
the Thames Embankment, the Holborn Valley Improve-
ment, and various others, and said it appeared to him to be
manifest that if any more were attempted to be done the
City would be almost in a state of chaos. The works that
were already sanctioned would occasion the displacement
of a vast number of traders of the city of London, and, if all
the proposed schemes were to be carried out, it appeared to
him that it would be almost tantamount to giving notice to
the traders of London to quit the city entirely. (Hear.) It
appeared to him therefore that it was almost an absolute
necessity that a great many of the proposed projects should
be postponed, at all events until some of the great works
that had already been sanctioned by the Legislature had
been completed. (Hear, hear.)
The motion was then agreed to unanimously, and
Mr. G. J. COCaERELL also moved that the chairman of
the Law and Parliamentary Committee (it having been pre-
viously agreed to, upon the motion of Deputy Jones), that
the subject should be left entirely in the hands of the Spe-
cial Railway Committee), the chairman of the Sewers Cote-
o 0
mission, the chairman of the Improvement Committee, and
the chairman of the City Lands Committee, with the Alder.
menp ren
bMbiesszsan. Finnic, Carter, arantedr,thSoirse members
G. Mon,
f J .
thCe.
Lawrence,
Court who had seats in the House of Commons, should be
added to the Special Committee.
This motion was agreed to.
Deputy LOTT then proposed his motion above referred to,
which was also unanimously agreed to.
Mr. RISHARDSON, in the absence of Deputy Owden, pre-
sented a petition from the inhabitants of the Ward of
theßiB 112eo tof sg
ah
te iperayingthe Court to take into consideration
various schemes of the projected railways
on the now flourishing trade of this important and populous
petition
ward, and to adopt such measures as may be deemed advi-
This
sable to prevent the carrying out of such schemes, which
ruinwill entail
wans
a sol
si no
arne fye
rorfe id o th ts
tinhae bitants
Special Railway
Committee.

COAL, CORN, AND FINANCE COMMITTEE.
eputylioNE, the chairman of this committee, moved that
the report of the committee, which related to the finances
of the Corporation, which was brought up on a former day
and ordered to be printed, be agreed to.
The most material part of the report related to the monay
received by the Corporation upon the sale of the shares helrl
by them in the Metropolitan Railway. The number so held
was 20,000, and it appeared that, through the exertions of
the committee, they had been enabled to sell them at a profit
of £57,000. Upon receiving so large a sum of money as
rth-iulted from the sale of the shares, which was about
£257,000, the committee were for some time
engaged in
considering what was the best use to be made of it, and
they at length resolved to invest it in Consols, to accu-
mulate, to pay off a debt of £350,000 that had been advanced
to the Corporation by the Bank of England to carry out
some public works, and which sum bore interest at 4# per
cent., and was to have been repaid out of the 4d. coal duty,
which was no longer available. This bad been done, and the
committee now asked the Court to sanction the course they
had taken. _

DepuSCABIELL expressed his opinion that better us
might have been made of such a large sum of money than
investing it in Consols, which only paid 3 ',et cent., while
they were paying the Bank of England 4i per cent. up&n
their money. The committee might have repaid the money
to the Bank.
Deputyar
dththe
entolle was borrowed for ten
ye
Bank of England to repay it.
they, however, very politely, but at the same time very
and BthoeNy Ehsasdidofftheraet
positively, refused to receive it (A laugh.)
The report was then agreed to, and the Court shortly
aitorwards adjourned.