The Sun.
London, England, 1853-01-27 00:00:00

THE CITY TERMINUS.

Yesterday, a meeting of the shareholders in the com-
pany which had been formed to carry out the plan of
Mr. Charles Pearson, the City Solicitor, was held at
their offices, New Bridge-street, Blackfriars, to receive a
report from the Board of Directors.
On the motion of Mr. PEARSON, the chair was taken
by

Mr. ACTON AYRTON, who, after apologising for the
absence of the secretary, from a domestic affliction, pro-
ceeded to read the following report :

" In consequence of the very short time which elapsed
between the first announcement of this project and the
meeting of Parliament, the directors were led to entertain
doubts whether it would have been possible to comply
with the standing orders, which required a subscription
contract to be signed, and a deposit to be made of three-
fourths of the capital, whilst the public were scarcely
informed of the precise nature or the undertaking ; but
most responsible contractors having been anxious to
avail themselves of the opportunity offered by the reso-
lution passed at the last meeting, tite directors were
enabled to make a very satisfactory arrangement, by
which, without any sacrifice of capital, the subscrip-
tion contract was completed, and the deposit of 45,000/.
made in due time. The directors have since allotted
shares to persons anxious to support the company .
and with the exception of those which are specially
reserved until after the act is obtained, to meet pend-
ing
their negotiations, only 2,500 shares remain at dis-
posal, and for which they have received an application
but have postponed complying with it until the
share-
holders had had an opportunity of expressing their
wishes on the subject. A numerous and respectable
body of shareholders being, however, constituted, the
directors feel called upon to redeem the pl edge contained
ace
ffrtaainord the number of their body
iwnouthlde
resign their
officesatrth
to shareholders d
reet anon
opportunity of effecting whatever change inthe
they might desire. The directors having since acquired
aauldaragteter
attention
nke
to
on
itsthe
affairs, company,a
h
indn have devoted much time
siumgpgoets•tta
to
ot e r
tbaekeionmg e; ma
no
dr ehcaovni vn egr snaonw
embarked in t
with the merits of thenegotiations to further its
objects, they
theshareholders
to o f
h bringingth a
vti it would
ew :ld
be expedient that '
the responsibility
pro-
ject to maturity should beentrusted
it originated ; the undermentioned gentlemen t N
who retire
e
by lot, therefore offer themselves for re-election—Mr.
B
urcheli, Mr. Dakin, Mr. HaY ne, Mr. Laurence, „Mr.
Virtue, Mr. White. The directors are informed by_the
solicitors of the company, that the standing orders of
the Houses of Parliament have been complied with in
all respects, and they have every reason to hope that the
bill will pass through Parliament this session."
The .CHAIRMAN then addressed the meeting at
_deb
consi-
derable length in favour of the project, and concluded
moving the adoption of the report,
which was accordingly
agreed to unanimously.
g
Mr. CHARLES PEARSON said that resigned his
having
seat as an honorary member of the board,' he felt it his