The Sun.
London, England, 1860-08-03 00:00:00

METROPOLITAN

The half yearly meeting of this company was
held on Wednesday at the London Tavern, Mr. W.
A. Wilkinson in the chair.

Mr. HENCHMAN, the secretary, having read the
notice convening the meeting, the report, an ab-
stract of which has appeared in The Sun, was
taken as read.

The CHAIRMAN, in moving the adoption of the
report, said they had now every prospect of having
a good and sound undertaking. He was happy to
say the utmost harmony had prevailed at the board
since it was fully constituted. They had abundant
reason to be thankful to Parliament for having
passed all the bills that were in favour of the un-
dertaking, and for having thrown out those that
were inimical. The corporation had obtained the
act authorising the Smithfield markets, and the
railway company had obtained power to make a
short line to the markets. They had also, in con-
junction with the Great Westez n Railway Com-
pany, arranged for a large space of ground
under the markets for a goods station. The
great difficulty had been to obtain sufficient
station room in the city, and they had therefore
agreed to take the whole of the vacant ground
on the eastern side of Victoria-street for that pur-
pose. He hoped they would have space enough to
accommodate the enormous traffic that would come
over their line. The corporation had agreed to let
them have the ground in Victoria-street at cost
price, giving them also credit for the proportion of
the Parliamentary grant, making the price cf the
51 acres, as stated in. the report, £179,157. The
London, and Dover Company had obtained
powers to make a railway from Beckenham to Far-
ringdon-street, and a junction with the Metropoli-
tan line in Victoria-street. That showed the neces-
sity for enlarged station room, not only to accomo-
date the local traffic, but a large suburban traffic.
With regard to the works, the contractors had pro-
ceeded energetically with them, and he believed
that all the difficulties had been so far surmounted
with comparative ease. The next matter was the
proposed extension to Finsbury-circus, and, con-
sidering the suburban districts, south, north, and
west to which their line would give access, he
thought such an extension would be a great accom-
modation to the City, and tend much to relieve
Cheapside and other streets of a great deal of
traffic. The Finsbury-circus station would be more
convenient for the City traffic than London-bridge
station, and thus considerable relief from the
existing pressure would be afforded. Their under-
taking did not appear to be appreciated by the
public, judging from the price of their shares, but
when they rose to a premium he had no doubt they
would be sought for eagerly.
Mr. T. DAMN seconded the motion for the adop-
tion of the report. He considered the report of
Mr. Fowler, their able engineer, of a most en-
couraging character, for it showed that their under-
taking could be carried out successfully. He could
not help thinking that the corporation of London
had acted in a manner worthy of their high name in
giving the company the advantage of the Parliamen-
tary grant and the land required for the railway at
cost price. With regard to the extension to Finsbury,
he hoped the report did not pledge them beyond
taking the preliminary steps for that project.
Mr. CONNELL considered that the extension to
Finsbury-circus would be a great boon to the City,
be a great benefit to the undertaking, and relieve
Cheapside of some of its traffic.
The SECRETARY, in reply to a question, said that
only 800 shares had been forfeited.
A SHAREHOLDER thought a terminus nearer the
Bank of England would be prefeiable.
Mr. FOWLER, the engineer, stated that the pro-
posed station would be only 300 yards from the
Bank of England. He knew that persons had ob-
jected to a station so near as Tokenhouse-yard ; the
difference of distance would be of little consequence.
The public convenience would be increased by
means of a new street, and the cost to the company
of a station in Finsbury-circus would be much less
than if brought nearer. A larger extent of ground
could be obtained there without opposition, and ho
believed the extension to that point would be looked
upon with general favour.
Mr. PARSON, in reply to questions, stated that

there were three parties- interested in the extension
to Finsbury-circus—viz., the Metropolitan Com-
pany, the Eastern Counties Company, and, in
respect of an extension to that point the city
authorities. Between Chiswell-street, and Fore-
street there was very inferior property. It would be
necessary to raise an entirely new capital for the
purpose of the proposed undertaking, and he thought
it would be very desirable to them if carried out.
There had been two projects promoted for that pur-
pose in the early part of the present session, but
they had fallen through, and might be revived next
session. They had received every assistance from
the Great Western Company at the Paddington
end of their line, ° and also at King's-cross
from the Great Northern Company. There
would be a junction with the North-Western,
and it was probable the Midland Company would
use their line to the city. If the city autho-
rities afforded them the necessary facilities
the line would be open for traffic between the
city and King's-cross in the course of next year.
Mr. Jay's contract amounted to £270,000 ;
.Mr.
Knight's contract to £330,000, making together
£600,000. The estimate for land was £400,000,
and £150,000 for Parliamentary and other ex-
penses, making up the authorised capital.
Mr. Lown objected to the paragraph in the re-
port relative to the Finsbury extension.
A long discussion ensued on this point, which re-
sulted in an amendment by Mr. Lowe to the effect
that the report be adopted, with the exception of
the second last paragraph, relating to the Finsbury
extension.

The amendment was negatived by a large ma-
jority, and the report was adopted.
The salary of the secretary was increased to £4OO
per annum, and the proceedings terminated with a
vote of thanks to the chairman and directors.

CHARTERTIOUSE SCHOOL.—At an assembly of the
governors of the Charterhouse, held on the Ist of August, it
was decided that a second Foundation Scholarship shall be
annually thrown open to competition among boys in the
school between the ages of 13 and 15. One scholarship was
thrown open to competition annually a few years ago. It
was also decided at the same meeting that the number of
scholars on the Foundation shalt be Increased Amu 44 tQ 60,