The Sun.
London, England, 1864-07-11 00:00:00

GREAT EASTERN.

The adjourned Wharncliff meeting of this com-
pany was held on Friday at the London Tavern ;
Mr. I. Goodson in the chair.
The CHAIRMAN said he was glad to inform them
that it would be the last time this Session that they
would be called upon to consider Bills in compli-
ate° with the standing orders of the House of Lords,
as their list of Bills would now be completed.
There were only two Bills remaining—the Metro.
politan Extensions and the Junction Bills.
Mr. MAYNARD, the solicitor, read the heads of a
bill to authorise the Great Eastern Railway Com.
parry to make several railways in and near the
metropolis in connexion with their existing rail-
way, and to purchase lands for a station in the
city of London. One of the provisions was that
the company should make good deficiencies in
parish rates during the construction of the railway
and another specified that certain streets were not
to be stopped up.
On the motion of the CHAIRMAN, seconded by
Mr. L. SimrsoN, a formal resolution approving
the Bill was carried unanimously.
Mr MAYNARD then read the heads of a Bill to
authorise the Great Eastern Railway Company to
make several bhort junction railways for connect-
ing different railways in their system at other
points, and for other purposes.
On the motion of the CHAIRMAN, seconded by
Mr. SIMPSON, a formal resolution approving the
Bill was carried unanimously, and the meeting
separated.

METROPOLITAN.
The adjourned Warneliffe meeting of this com-
pany was held on Friday at the London Tavern ;
Mr. W. A. Wilkinson in the chair.

Mr Burchell, the solicitor, read the heads of a
bill to enable the Metropolitan Railway Company
to extend their railway from Finsbury-circus to
Trinity-square, Tower-hill, and for other purposes.
The bill authorised the company to create new capi-
tal for the construction of the extension line, or to
make it by means of a separate capital. The line
was to pass through the Finsbury-circus gardens in
a covered way. Certain streets were not to be
stopped up. Trains were to run in the mornings
and evenings of working days for the accommoda•
tic: of the labouring classes at reduced fares.
The CIIAIEMAN said ho did not know of any body
of shareholders being in so favourable e, position as
they were in respect of the present bill. There
were four most responsible parties who had under-
taken the risk of providing the money for the ex-
IMOSOS of the bill and for the Parliamentary deposit.
The shareholders of the Metropolitan Company
were free to have nothing whatever to do with pro-
viding the cApite.l for the extension line, bat it they
wished they might subscribe any portion of it. They
had the option of taking or leaving the extension
shares. The whole matter had been fully discussed
at the ordinary meeting of the company in February
last, and the report of the directors fully and fairly
explained the objects of the Bill, and that it was to
authorise part of the " inner circle" recommended
by the Parliamentary Committee of last Session.
The traffic on the Metropolitan line was increasing,
and would be farther increased by the construction
of the proposed extension lines. He concluded by
moving a formal resolution approving the Bill,
which he trusted would be carried unanimously.
Mr. AUSTEN, a director, seconded the motion, and
explained that the Parliamentary Committees
looked with great favour on the proposed " inner
circle line," of which the Metropolitan Railway
and proposed extensions would form a considerable
portion. All that was wanted on the present occa-
sion was their approval of the Bill, which, if sanc-
tioned, would prevent competing schemes for their
present through traffic.
Mr. HARTRIDGE said they had better let other
parties make the line; there was no estimate of
either cost er traffic in respect of the proposed ex-
tension, and his opinion was that if they were come
pelled to make that line it would have the effect of
reducing their dividend on the Metropolitan main
line by at least one-third. The most expedient
thing they could do would be to reject the Bill altos
gether, sad he moved an amendment to the effect
that it was inexpedient that the line from Finsbury
to Tower-hill should be made with the authority
and at the risk of the proprietors of the Metropolis
tan Railway.
proxies to the amount of
Mr. ELERS said he held
£200,000, and he strongly objected to any extension
lines being made at their cost, and would second
amendment for defeating the Bill.
Mr. PARSON, deputy chairman, explained that it
was most expedient that the extension line should
be made by the authority of the company, and by
the assistance of their friends. He thought that
the deposit of £96,000 in respect of one extension
Bill and £48,000 in respect of the other Bill was a
proof of the responsibility of the parties interested.
It had been said that they did not know who they
i were, but he thought ail doubt would be removed
when he mentioned that they were Messrs. Brassey,
Pate, Bette, Kelk, Waring, and others. The only
penalty in the Bill for the non-completion of the
railway was the forfeiture of the deposit, and if the
line were not made the loss would fall on those
gentlemen. It was a speculation of those parties,
and when carried out must improve the property of
the Metropolitan Company. The shareholders of
the Metropolitan were bound in good faith to pass '
the Bill, which was promoted at the cost and risk
of the gentlemen he had mentioned. Parliament
had rejected a Bill—the East London Bill—that
was opposed to them on the faith of this Bill being
carried out. They should remember that a similar
breach of faith on the part of the South-Eastern
shareholders at a IVharncliffe meeting had caused
Parliament to revive and sanction the East Kent
Bill for a railway which now fermed part of the
London, Chatham, and Dover. (Hear, hear.)
Mr. Jones end other proprietors were in favour
of the Bill, while others expressed an opposite
opinion.
Oa the amendment being put it was negatived by
a show tsf hands, and the Bill was approved by 30
against 5.
1 Mr. HARTRIDGE said he was extremely anxious
the proprietors; should take the case before the
House of Lords.
On taking the poll the only vote recorded against
the Bill was that of Mr. Hartridge, and in order to
save further trouble he withdrew it.
The CHAIRMAN declared the Bill unanimously
approved, and the proceedings concluded with a vote
of thanks to the obignpan.