The Sun.
London, England, 1866-01-11 00:00:00

of how persons were brought out of burning build-
ings owing to the instrumentality of the conductors
and the escapes.

RAILWAY INTELLIGENCE.

NORTH LONDON.

An extraordinary general meeting of this com-
pany was held yesterday at the offices, Euston Sta-
tion ; Mr. Bancroft in the chair.

Mr. Mansel, the secretary, having read the
notice convening the meeting,
The CHAIRMAN said the only business for which
they had met was to authorise the directors to bor-
row under the powers of the North London Rail-
way Widening Act, 1861, on mortgage or bond
£33,300 ; and under section 9 of the North Lon-
don Railway Act, 1865, the sum of £lOO,OOO, or
any portion of the respective sums mentioned. lie
then moved a formal resolution to that effect.

Mr. HARTRIDGE supposed they had power to raise
money on shares as well as on bonds. He thought
it was a suitable time to issue stock, and unless they
could raise money on bonds at less than 5 per cent.
it would be better to issue stock which was at a pre-
mium than to raise money on bonds at a high rate
of interest. He wished to know whether the direc-
tors were at liberty to issue stock in place of bonds,
or whether they were actually compelled to raise
the whole sum on bonds.

The CHAIRMAN said, under the notice, the power
of the meeting was limited to authorising the rais-
ing of money on bonds ; but the company had
power to raise the money they required on share
capital. If they found it difficult to raise the money
at a reasonable rate on bonds it would be a ques-
tion for the Board to consider whether they should
issue stock in place of the bonds ; but they hoped
to borrow the money under 5 per sent—say at 4/
per cent. The ordinary general meeting would
soon be held, and, if necessary, the directors could
raise the requisite money on share capital instead of
on bonds ; but he apprehended no difficulty in that
respect. The present meeting could only authorise
the exercise of the borrowing powers as proposed.

Mr. HARTRIDGE called the attention of the direc-
tors to the delays that frequently occurred in work-
ing the traffic on their line between Broad-street
and Bow. He took an interest in the working
of the line in a public point of view, as well as being
a shareholder. He often travelled on the line, and
he believed the traffic on it between Bow andßroad-
street was worked most injuriously to the interests
of the company. A delay of half-an-hour sometimes
occurred, which, he thought, by some better mode
of working, might be avoided.
The. CHAIRMAN said they had been in a transition
state since they opened the branch to Broad-street.
The traffic on the line from Broad-street to Bow
had recently increased considerably, and he was as-
sured that the present arrangements for working the
traffic were the onlypracticable ones they couldmake.
Mr. ONYON thought it would be injurious to go to
the expense of widening the line for the accommoda-
tion of the London and North Western Company's
traffic until the latter company had built their in-
tended goods station in Broad-street.
The CHAIRMAN remarked that the goods station
would be of no use in Broad-street until the North
London Railway was widened to carry the traffic to
it. They were bound to widen the line to accommo-
date the London and North Western traffic to and
from the Broad-street station, and he believed their
interests were similar in that respect.
The motion was then adopted, and a vote of
thanks to the chairman concluded the proceedings.