In November 1901, the GN&CR published a notice of its intention to present a private bill to Parliament seeking permission for an extension of the company's tunnels then under construction between Finsbury Park and Moorgate Street.

The bill received royal assent on 8 August 1902 as the Great Northern and City Railway Act 1902.

[4] One peculiarity of the scheme was that the running tunnels between Moorgate Street and Lothbury stations were to have been shorter than the platform tunnels at the two stations, meaning that the front of a full-length train would have arrived at Lothbury before the rear would have left Moorgate Street.

[5] Work began on the Moorgate Street to Lothbury section but was abandoned almost immediately, with the tunnelling shield left in place at the end of the southbound tunnel, just south of Moorgate Street.

[5] The Great Northern and City Railway Act 1907, which received Royal Assent on 26 July 1907,[6] granted additional time for the construction of the Lothbury extension but the money could not be raised and no further work was done.