The Sun.
London, England, 1857-02-24 00:00:00

RAIL FVAY INTELLIGENCE.

WEST END OF LONDON AND CRYSTAL PALACE.
The half-yearly meeting of this company was held yes-
terday at the office, Gresham-house ; Mr. S. Beale in the
chair.

The report stated that the portion of the line between
Wandsworth-common and the Crystal Palace was opened
for traffic on the Ist December last, am', the results have
exceeded the expectations of the directors. The line was
efficiently worked by the Brighton Company, and there
was no doubt that the traffic from the several stations
would prove an important source of revenue to the com-
pany. The Norwood branch would be opened in time for
the spring excursion traffic to the Crystal Palace. The
construction of the remainder of the lino was proceeding
with vigour, and 22 acres of land at the foot of the new
Pimlico-bridge had been obtained from the Crown for the
West-end terminus, which would thus possess an area and
approaches second to none of the metropolitan railways.
To meet the wishes of many of the proprietors arrange-
ments had been made with the contractors under which the
7 per cent. on the B shares would commence from July
next. The sanction of the proprietors would be requested
to the creation of new shares, bearing a 6 per cent. pre-
ference, to an amount not exceeding 112,500/. ; and to the
further exercise of the company's borrowing powers to
the extent of 37,5001. This stock it had been ar-
ranged that Messrs. Pete and Co. would take in pay-
ment for the works, subject to giving the proprietors and
the public the option of taking it, or any portion of it,
within three years. The opening of the Mid-Kent Rails y
to the junction with this company's extension at Becken-
ham had rendered it of the utmost importance that the
construction of the line between Norwood and Bromley
should be immediately proceeded with. An advantageous
arrangement had been entered into with the contractors
for land works, kc., for a fixed sum to be paid entirely in
sharesand debentures of the company. The capital ac-
count showed that 384,738/. had been received, and 377,0661.
expended, leaving a balance of 7,672/.
The Chairman, in moving the aJoption of the report,
said that, notwithstanding the line was only opened to the
middle of Wandsworth-common, the traffic was very satis-
factory, as it yielded 15/. a-mile a-week. The Norwood
branch was ready for ballasting, and would be ready for
traffic in two months The price demanded by the Go-
vernment for the 22 acres of land was 85,0001., but the sum
fixed by arbitration was" 60 0001., and this included the
right to the pier, for which 25,0001. was demanded. The
company had power to commute the purchase into a 4 per
cent. perpetual rent. It would be the west end station for
the whole of the south of England.
Sir S. M. Pcto remarked they had been very fairly dealt
with by the chief commissioner. A very large plot of land
near their intended station had since been purchased at
more than double the price the company had paid for their
land.
Sir J. Paxton, M.P., seconded the motion. He believed
it would be one of the best paying railways near London.
The whole cost would not be so much as that of the land
for the North London Railway.
Sir M. Peto said the contractors for the line from Brom-
ley to St. Mary Cray were energetic men, and he believed
that lino would be opened about the end of the year. Their
line would also be opened to the west-end terminus, and
it was intended to open the two lines on the same day,
making an aggregate length of about 18 miles. (Hoar,
hear.) The new bridge at Chelsea would be opened by
Midsurn mer.
Resolutions were passed adopting the report, re-electing
the retiring directors and auditors • authorising 80,000 i. to
be raised for the Bromley line, 112,5001. for the main line
and the borrowing powers, and adopting the agreement
with the Brighton Company. A vote of thanks concluded
the proceedinge.