The Sun.
London, England, 1829-10-16 00:00:00

CITY OF LONDON ARCADE.

A public meeting was held yesterday, at two
o'clock, at the Auct►on Mart, in the City, for thy•
purpose of taking into consideration a plan for the
t'ormation of an Arcade from Bartholomew-lane to
Iliiorgate. Mr. Deputy PULLEN in the Chair.
The CHAIRMAN stated the objects of the meet-
ingt and in doing so observed, that it had occurred
to the projector-of the plan which lay upon the
table, that it would be desirable to erect an Arcade
.imilar to Burlington Arcade, and extending froze ,
klriorgate to Bartholomew-lane, for the purpose of
removing the inconveniences which existed between
the, northern suburbs ai►d the heart of the city. The
proposed Arcade would form a straight line from
Moorgate to Bartholomew-lane, so as to form a di-
rect communication from the northern suburbs to
the Bank, the Stock Exchange, and the parts ad-
jacent of the city. The length of the Arcade would
be 900 feet, and the buildings at present standing.
upon the line were, with a few exceptions, com-
posed of old and dilapidated houses, which were,
consequently, of comparatively trifling value. He
(thp Chairman) had consented to become one of a
Provisional Committee, which had prepared a rceeort
to be submitted to their consideration. The Arcade,
when completed, would afford a convenience for pas-
' sengers for the whole distance,and the difficulty would
be altogether removed, which was now so loudly
complained of—that of the nuisance of the Padding-
ton coaches plying at the Bank.' The proprietms
of the property along the whole of the line were
anxious to give every facility to the undertaking,
and some of them had even offered to take a great

number of shares in the Company to be formed.
One of them had offered to take twenty 501. shares;
and a gentleman of the name of Sandernan had ac-
tually given a donation of one hundred guineas to-
wards the Arcade, with no other hope of remunera-
tion than that of hereafter walking under it. It was
not intended to be a jobbing speculation, and it was
therefore determined that no shareholder should sell
his' shares without the consent of the others; that it
should, in fact, be a bona fide measure, and a salutary
one for the City of London.
The Report was then read, the substance of which
recommended the building of the Arcade as a pro-
, fitable speculation, and giving an estimate of the
probable expence. It was supposed that 112
houses might be erected, with sixteen feet frontage,
and a depth of twenty feet, for 56,000/.; and it
was estimated that the purchase of the present
buildings would be under 6500/. The whole esti-
mate was, therefore, only 121,000/. It was esti-
mated that the old materials of the buildings would
produce sufficient to defray the expences of the Act
of Parliament which would be required.
Mr. FORTUNE, while he approved of the plan,
said that he was himself the original projector of•the
measure, as he had been the projector also of the
Burlington Arcade. He thought, however, that
there should he a coach-road as well as an arcade,
and that it would be more advisable to carry the
arcade from the North-end of Bartholomew-lane to

opposite the Circus in Moor-fieldi. By the survey
which he bad got made, the estimate was 64,0001.,
and he thought it strange that the present estimate
should be so nearly the same as that made by Mr.
Stinith for himself, when he had applied to Parlia-
ment on the subject.
Mr. GEARY, the architect, said he was unac-
quainted with Mr. Smith. In answer to other ques-
tions, he said that he estimated each house to cost
5001. in building, according to the plan intended.
Mr. FouviNE said
_that they might be erected for
2001. a house.
A series of Resolutions were then agreed to,
founded upon the Report, for the purpose of esta-
blishing a Company with 150,0001. capital, in shares
of 501. each, in order to carry the proposed plan into

effect.
Thanks were then voted to the Chairman for his
conduct in presiding over the Meeting, which then
adjourned.

THE MARKETS.

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