The Sun.
London, England, 1863-03-05 00:00:00

FIE SUN, LONDON, THURSDAY EVENING, MARCH 5, 1853

houses in character with the site ; and to widen
Millbank-street the whole way to Vauxhall-bridge.
The Palace of Westminster would thus have on all
sides a space that would compensate for the
depression of the level and the quality of the
surrounding atmosphere; the Abbey would share
the boon. On the west of Old Palace-yard, as thus
enlarged and extended southward, Mr. Gil-
bert Scott proposes to build round two sides
of the " Garden" a double row of immense
cloisters, having a communication with the Abbey,
and evidently intended to take in those monu-
ments of distinguished persons which the Abbey
can now no longer find room for. Returning to
New Palace-yard, the Commissioners propose to cut
off the projecting portion of the Sanctuary north of
the Abbey, in order to straighten and widen the
route to Victoria-street. Turning then northward,
they shrink from recommending so large a clearance
as that of the block between Parliament-street and
King-street ; and propose, as a compromise to widen
King-street on the west side, throwing back the
new Government offices for that purpose. This, of
course, is only a halt measure, and will only give half
satisfaction. The difference in cost between the
larger clearance and the less can hardly be worth
leaving so manifest an eyesore as the block between
Parliament-street and King-street. The city and
its approaches belong to the metropolis; the Houses
of Parliament and their approaches to the empire at
large. So the Commissioners suggest that, while
the new street from Blackfriars to the Mansion-
house shall be paid out of the metropolitan funds,
the clearances at Westminster may reasonably fall
on the Imperial Treasury. This is very fair, Ac-
cording to the estimates on which the Commis-
sioners rely, the improvements they recommend at
Westminster will cost altogether about the same as
the proposed street from Blackfriars to the Mansion-
house. The nation is thus to do as much as the
metropolis ; that is, when the Embankment itself
has onto been completed out of the metropolitan
funds. Certainly, there are no buildings more worthy
of a good use than our Houses of Parliament and
Westminster Abbey, and there is no' site more un-
worthy than Old Palace-yard, Abingdon-street,
and the river-side premises under the Victoria
Tower. In Paris it is often the site that makes the
building rather than the building the site. Even
the majestic pile of St. Peter's at Rome, so far
as regards the outside, would make but little
figure were it not for the Piazza and Colonnade.
Our own St. Paul's cannot be seen till you are
almost under it. Few indeed of our public edifices
have the commonest justice done to them in the way
of site and surrounding adjuncts. There is now an
opportunity of retrieving our credit, and making
up for long neglects, round that great common cen-
tre of all our institutions, our religion, and our
liberties, on the old Isle of Westminster. Something
must be done, and, as it must be, let it be done in
a manner worthy of our country.

RAILWAY INTELLIGENCE.

GREAT EASTERN.

Yesterday a meeting of shareholders in this
company opposed to laying ont the large sum con-
templated by the directors on new lines and exten-
sions, to be raised by preference shares, was held
at the London Tavern. Mr. C. Smith was called to
the chair.
The CHAIRMAN, in opening the proceedings,
said that the meeting would no doubt remember
that there was a great discussion at the last meet-
ing of the company upon an amendment proposed
by himself, and another proposed by Mr. Sergeant
Gaselee. That discussion turned chiefly upon the
question whether the dividend should be postponed

by the rejection of the adoption of the report, and
the result was that after some conversation it was
agreed that the amendment of Mr. Sergeant Gase-
lee should be put as a substantive motion if the re-
solution for the adoption of the report were allowed
to be put. The report was almost unanimously
adopted, and after some further discussion the
amendment was put as a substantive motion, and
carried by a large majority. Mr. Love, the chair-
man, had stated that if it were carried both he and
his brother directors would religiously carry out the
resolutions; but, to the surprise of the meeting,
after the resolution was carried, Mr. Bidder, one
of the directors, demanded a poll. The rest of the
proceedings were of so very unsatisfactory a nature
that the present meeting was determined upon.
The object of the meeting was to give the share-
holders an opportunity of consulting together, so
that they should become better anquainted with
each other's opinions, and in the event of their coin-
ciding, then to adopt some resolution to give those
opinions effect. The only object he had in view
was the good of the company, and he must say that
while the stock was depreciated 50 per cent., the
directors should not raise money on preference
shares at 5 per cent. in order to construct new ex-
tensions. The state of the affairs of the company
did not justify them in recklessly and heedlessly
plunging further into debt. It was under these
circumstances that he hoped the proprietors would
not sanction the expensive extension to Finsbury.
With regard to the poll which took place on Mr.
Gaselee's motion, the dissenting shareholders, as a
body, refused to poll, as they were determined to
stand to the agreement with the chairman that the
Board would carry out the amendment if the adop-
tion of the report were allowed. (Hear.)
Mr. WADDINGTON then, at great length, depre-
cated the conduct of the Board with regard to the
numerous extensions of the company, but he Bug-
guested that no strong resolutions should be passed
at the present meeting, but that they should be pro-
posed at the adjourned meeting, with a view to assist
in promoting the welfare of the company.

In the course of a conversation which ensued, it
transpired that the following were the amounts pro-
posed for the extensions in the directors' report :
Finsbury Extension—share capital, .£1,200,000;
debentures, £400,000; for the line from March to
Spalding—share capital, £165,000; debentures,
£55,000; and fromßamsay to Chatteris—share capi-
tal £40,000; debentures £13,300; total £1,873,300.

Mr. LEVY then proposed the following resolu-
tion :—" That this meeting is of opinion that in the
present position of the Great Eastern Company,
and under the circumstances in which it is now
placed, no furth©r extension is requisite, and
therefore ought not to be allowed to take place,
and that the only means open to the share-
holders to prevent the directors from carrying out
such extensions is for all those shareholders opposed
to further extension to join in presenting a petition
to the House of Lords against the Finsbury exten-
sion, and, if it should be necessary, against any other
extension bill introduced into Parliament by the
Great Eastern directors in the present session."
Mr. MICHELL thought the resolution was of a
really business character, and therefore he had great
pleasure in seconding it, and hoped that it would be
carried unanimously.

Mr. C. LEGGE hoped that the ordinary proprie-
tors would prevent the directors from making ex-
tensions, for their dividends were already too small.
The March and Spalding extension was intended to
get traffic from the north, and in doing that they
would have to fight the Great Northern, who, pay-
ing good dividends, could carry at a lesser figure
than the Great Eastern could.

After some further conversation, the motion was
carried unanimously, and after a vote of thanks to
the chairman the meeting adjourned.

ANDOVER AND REDBRIDGE.

The half-yearly meeting was held at Southamp-
ton on Monday, Mr. W. Cubitt, M.P., in the chair.
The report stated that an agreement with the
London and South-Western Company for the trans-
fer to them of the undertaking had been completed,
and a bill was now before Parliament to give legal
effect to the same. The chief provisions of the agree-
ment were as follows :—The London and South-
Western Company were to take the Andover Red-
bridge debenture debt, amounting to £43,000 ; to
find £30,000 to liquidate the floating debt .of the
Andover and Redbridge Company; to pay 3 per
cent. per annum on Andover share capital, not ex-
ceeding £50,000, such capital to be redeemable at
the option of the London and South-Western Com-
pany at 25 years' purchase ; the line to be finished,
and the annuities to commence on the completion
of the undertaking, not later than Jan. 1, 1865.
On the motion of the CHAIRMAN, seconded by
Mr. G. HUNT, the report was adopted, and the pro-
posed arrangements were affirmed by the share-
holders.

It was stated by the CHAIRMAN that there would
be a Wharncliffe meeting held to sanction the
agreement, which would be the last meeting to be
called by him, the terms of the arrangement pro-
viding that the chairman or some other director of