Metropolitan Railway

The Bayswater, Paddington, and Holborn Bridge Railway Company was established to connect the Great Western Railway's (GWR's) Paddington station to Pearson's route at King's Cross. }} A bill was published in November 1852 and in January 1853 the directors held their first meeting and appointed John Fowler as its engineer. After successful lobbying, the company secured parliamentary approval under the name of the "North Metropolitan Railway" in mid-1853. The bill submitted by the City Terminus Company was rejected by Parliament, which meant that the North Metropolitan Railway would not be able to reach the City: to overcome this obstacle, the company took over the City Terminus Company and submitted a new bill in November 1853. This dropped the City terminus and extended the route south from Farringdon to the General Post Office in St. Martin's Le Grand. The route at the western end was also altered so that it connected more directly to the GWR station. Permission was sought to connect to the London and North Western Railway (LNWR) at Euston and to the Great Northern Railway (GNR) at King's Cross, the latter by hoists and lifts. The company's name was also to be changed again, to Metropolitan Railway. royal assent was granted to the Metropolitan Railway Act 1854 (17 & 18 Vict. c. ccxxi) on 7 August 1854.

Construction of the railway was estimated to cost £1 million.. }} Initially, with the Crimean War under way, the Met found it hard to raise the capital. While it attempted to raise the funds it presented new bills to Parliament seeking an extension of time to carry out the works. In July 1855, the Metropolitan Railway (Deviation) Act 1855 (18 & 19 Vict. c. cii), which made a direct connection to the GNR at King's Cross, received royal assent. The plan was modified by the Metropolitan (Great Northern Branch and Amendment) Act 1856 and again later by the Great Northern and Metropolitan Junction Railway Act 1860 (23 & 24 Vict. c. clxviii).

The GWR agreed to contribute £175,000. }} and a similar sum was promised by the GNR, but sufficient funds to make a start on construction had not been raised by the end of 1857. Costs were reduced by cutting back part of the route at the western end so that it did not connect directly to the GWR station, and by dropping the line south of Farringdon. }} In 1858, Pearson arranged a deal between the Met and the City of London Corporation whereby the Met bought land it needed around the new Farringdon Road from the City for £179,000 and the City purchased £200,000 worth of shares. }} The route changes were approved by Parliament in August 1859, meaning that the Met finally had the funding to match its obligations and construction could begin. Provided by Wikipedia