The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1864-03-12

time hereafter operate any city railroad con-
strustea or hereafter to be constructed, shall within
ten days after tho rst day OF each month"; render 10 the
comptroller Of the city OF New York statement anthem
Heated oy the person officer through whose hands the
receipts OF such city railroad shall pass, OF the
gross receipts derived from all city travel and shall at
the same time to the said Comptroller the bene
NJ the city OF New York ten per cent Of such gross
Section three provides that every corporation assoca-
ton or Individual who shall at any time control or
operate any city railroad now or hereafter
70 DO constructed, shall at the expense corpora
ZION association or individual keep in good and sufficient
repair the pavement between the OF all the
and avenues through which such railroad shall be con-
strncted as far as said city railroad shall be extended
where two or moro companies shall in the came
street, the expense to be shared between them
Section four provides that every corporation
sion or individual IN whom the right power privilege
franchise OF constructing operating city railroad is
vested shall within thiryidays after tho passage OF this
act, execute and deliver Mayor OF the city of Nov
York covenants under seal securing the payment the
city, at all times hereafter OF the ten per cent gross
Conditions as sha aso the m as
70 whom the rights powers and franchises OF construct
Ing ana operating such railroad are vested shall at the
time OF the execution OF such covenant, join such
vsnants and they shall spuate that in OF breach
Of suon covenants or any OF them they their success
sors or assi2nees shall forfeit and surrender rights
powers, franchises and privileges reatng such city
railroad conferred upon them derived by them through
any act OF the Legislature; and such covenant when
made hereby declared binding upon party or par.
ties making the and their successors assgnees
Such covenants shall be subject to the joint approval
both 70 form and parties OF the Mayor and Recorder
the city Should any OF the parties In whom the rights
powers or privileges Vi
vested make default in executing such covenant and
delivering them duly approved before provided, within
thirty days after the passage Of this act such rights
powers privileges and franchises of the parties making
default shall be and they hereby revoked and the
acts confirming the Same hereby repealed. The GER
tfcae Of the Mayor and Recorder OF the city, under seal
OF the city, filed In the Office OF the Clerk Of the city and
county, shall he conclusive evidence Of such default
Section five provides that should the parties operating
any city railroad authorized by the Legislature Com
mon Council default in rendering accounts OF receipts or
in paying the per such gross receipts
provided in the second section OF this act the keeping
pavements In repair the rights powers franchises and
privileges Of the parties SO making default and the
act acts comforting the SHALL upon such default,
be annulled, and arc hereby repealed
Section six provides that Whenever two corro
raons-assocations controlling separate and distinct
roadsare shall be authorized by law TO the
street avenue the Mayor and Recorder hereby
powered prescribe and direct the mode which their
several tracks shall be laid.
Section repeats all acts inconsistent with the
above provisions.