The Company’s capital ultimately reached the sum of nearly four millions sterling, so the line can hardly be called a cheap one in point of construction; for, although the “way-leave” beneath the streets was free, land had to be bought for the surface booking-offices, costly shafts had to be sunk to the requisite depth, and tunnels driven, and numerous subterranean stations had to be built. Thus, apart from the cost of the rolling-stock and installation of a large current-generating station, the initial expenses soon mounted up. All the booking-offices and stations are built on one principle, each with its great electric lift; but special interest attaches to the City terminus. It was necessary to make use, somehow, of the open space between the Mansion House, the Bank, and the Royal Exchange--an ideal spot for a central railway station. But how was it to be effected? For years the Civic Fathers had contemplated the construction of subways for the safety and convenience of foot-passengers at this, which has been termed the busiest--as it is almost the most dangerous--spot in the world, though I doubt whether in the year 1903 Piccadilly Circus does not run it hard. The Central Railway Company approached the Corporation on the subject, and eventually it was agreed between the parties that the Railway Company, in return for being allowed the privilege of constructing their station beneath the open space, without payment, should make the public subways, and hand them over in perpetuity to the City. So for many months the pavement in front of the Royal Exchange was disfigured by a lofty wooden hoarding, which completely concealed a shaft, wherein some mysterious work was progressing. But beyond this there was no outward indication of what was going on below; and, although the entire roadway in front of the Mansion House was being undermined, the vast traffic continued as usual.