The Sun.
London, England, 1867-02-21 00:00:00

METROPOLITAN AND ST. JOHN'S WOOD.

'The half-yearly general meeting of this company
was held yesterday at the office, Old Palace-yard,
Westminster; Mr. W. Austin in the chair.
Mr. HENCHMAN, the secretary, read the report,
which stated that considerable progress had been
made in the execution of the works since the last
meeting, but in consequence of the limited extent
to which the preference shares were taken up by
the. proprietors, it was deemed prudent to slacken
the progress of the works during the winter months.
It having been found after a careful investigation
that £150,000 in addition to the balance of borrow-
ing powers, would be sufficient to complete and open
the line and stations as far as the Swiss Cottage, the
Metropolitan Railway Company resolved to recom-
mend their shareholders to subscribe for £lOO,OOO of
preference shares of the St. John's-wood Company,
provided that arrangements could be made for rais-
ing the remaining £50,000 required. Those arrange-
ments having been made the directors hoped
to be in a position very speedily to enable the con-
tractors to urge on the works with renewed vigour,
and to complete ar-d open the line early in the en-
suing autumn. The capital account showed that
£358,533 had been expended. The report of the
engineer stated•that four-fifths of the railway in
length were not completed, and that arrangements
for completing the remainder of the railway works
and stations, and for working the traffic on satis-
factory terms, had been concluded. Ile trusted that
in the early autumn of this year the line would be
open, and through trains to and from the city
running over it.
The CHAIRMAN, in moving the adoption of the
report, congratulated the shareholders on having
succeeded in making considerable progress with the
works, but the progress would have been much
greater were it not for the unreasonable discredit
that had been thrown on railway debentures, which
bad always been considered excellent security. They
had purchased the land for a double line of railway
throughout, and they would have a large quantity
of surplus land to dispose of, which would improve
their position considerably. The traffic on the line
would no doubt be very considerable. Trains would
run east and west from their junction with the
Metropolitan Railway, and also over the Metropoli-
tan' District Railway when open for traffic. They
had no doubt whatever that it would be a profitable
undertaking.
Mr. LEE, M.P., seconded the motion for the adop-
tion of the report, and it was carried unanimously.
The retiring directors, Mr. D. Nicoll and Mr. A.
C. Sherriff, M.P., were re-elected, and also Mr.
Bellamy, the retiring auditor. The proceedings
concluded with a vote of thanks to the chairman
and directors.

WEST NORFOLK JUNCTION.
The half-yearly meeting of this company was held
at Lynn on Saturday, Mr. L. Simpson in the chair.
The report stated' that the total outlay on capital
account had been £103,500, for which 18i miles of
railway had been constructed. The estimates had
thus been exceeded to the extent of £3,500, which
had been raised by a temporary loan, to be dis-
charged out of revenue..' The traffic receipts from
Aug. 17 to Dec. 31, 1866, had been £1,355, of
which SO per cent. was paid to the Great Eastern
Company for working expenses. Of the £677
balance, £602 was absorbed in interest on deben-
tures and £35 in general expenses, leaving £4O,
which was carried forward to the next account.
On the motion of the CHAIRMAN, the report was
adopted. Mr. Shaw and Mr. Durraut were re-
elected directors, and Mr. liolditch was re-appointed
auditor. •

The proceedings terminated with a vote of thanks
to the chairman and directors.