New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1868-06-18
THE CENTRAL UNDERGROUND RAILWAY

ELECTION or A BOARD OF DIRECTORS YES
TERDAY 49, PROVISIONS OF THE ACT OF
INCORPORATION
The want of cheap and speedy communication
beteen the upper and lower ends Of Manhattan Island
hoo lon, heen crying one and various schemes have in
consequence been suggested for supplying facie means
OF travel between these points. The OBJECT necessary 10
be gained Is safety the progress OF trains OF cars WINE
running at high rate Of speed; ana TO secure TINS V
any surface railway considering the crOwueu conuiuo
OF all our thOrOughfares, seems 10 DC an i'iPOoai
biity Taking their cue from the successful results
attending the construction Of railroads Dohea'"
the surface Of the streets in London, NUMBER
OF orr citizens became convinced OF the feasibility OF suc
an institution in New-YOrk, and therenpon Sought
franchise building Tor rather for excayang) IT, Ino
first application to the Legislature was unsuccess
full but another attempt in mat direction ineI ~ ot
favor tie 18th OF April OF the present year IN a
passed Ito incorporate the New,Nork Iiy Cehti
Underground Railway Company, ana 10 HuIhOIlo ,no
said company TO construct and operate certain unV
ground railway in tho City OF NeW-lOlh, by aro
terms OF this act forty0ne 49, gentlemen a.o
created a body corporate and polite Dy the ndmo
of The NewYork City Central UNDERGROUND Hall%g
Company This Company il to continue for 100 years,
TO be located the City of New-lork ana the caPsal
stock IL is provided, snail be SlOOoOOQ divided mo %
900 shares OF 500 each The law provides aso tna
business and Offices Of this corporation are 70 De manager
by board Of 10 directors VINO shall De eieCs % ~
by the stockholders the rst election 10 tske pace
the City OF Newly within three months after tne
passage OF the act In accordance WIN ms
the stockholders held an election at No % bfOadway,
between u and O'Clock yesterday, whey the following
elected.
William b. Ogden John l. Blair, Vim. f. Dodge, Lewis
b. Brown, George Griswold j. Boornan Johnston Cllr'
S. Brown william - duncan Andrew ~ 9 1
+. Vail.
The Company proposes to begin the construction of the
railway at am early day and to push it through 70 com
nleuon as speedily az possible The track is be laid as
n b az ayeRs on the route OF the proposed rail
way, which is follows; Commencing at point on the
ery of tho projected southery line of Parkpace thence
eastery ana under ground passing in frong OF inc
OF the same. and nOrtherly OF tho proposed gen.
eral Post ONCE, caryiDs to the i odi pass pass
sOuthery OF the Superior Court building corner OF Cham
bers and Cenre-sts 20 Centre,st; THENCE under ana
across said Centrest TO City Hapace; thence eastery
undor CITY Hapace to Pearls; thence across sara
Pearl ST.. and runnng north-eastery IN curved line 70
Mulberry.st, at point said street between Bayard
and Park-sts; thence nOrherly under said mulberry
across said Boeckef-st. in straight line,
practical to Lafayettepaee thence northery uhdes
across said AstOrpiace and Eghthst to the northery
side Of said Eghthst thence across the block between
sal Eighth-st and Nintst and easterly OF ST. AIMS
Church. on said Eghthst TO FOurthaye thence north
ery under the westerly side OF said FOUR ave 10 -FOUR
teenthst thence under and said FOurteenthst
and said Fourthavo to UniOn-square thence nOrhery
under said Unonsquare to Seventeenthst thence ndeP
and across said seyeuteenhs and through the blocks
as near az possible direct line, TO Twenty thrdst
| thence under Madison-square, or Madlson-aye.
and across said Twentysixth-st to Madison
| ave; thence under said Madlson-aye- as no, now
! opened to Eighty sixthst thence under sald Maui
s0nave "a declared by Chapter 4Oj OF the laws OF te
State of NewYork OF 1861 to twentieth
st. thence nOrtheasterly continuing the same Inc 10 lns
Harlem River; thence easery and westerly along said
Harlem River and connecting with tho Harlem Bridge ~
terminus OF Thrdave And IN case the oWess OF te
surface at any point north Of ninety Is sch as 10
render tho construction of tunnel impractcaDe SAID
| main line may be constructed ana Operated y az
elevated surface railway from Nnetysxthst TO ana
along the Harlem River The SAID corporatOn II Is also
provided may make on the route aforesaid inc
connections turnouts switches and other convehences
for the proper working and accommodation OF sara ran
way BY the terms OF the Jaw authorLhg the CQnstiuo
tion the road the company is authorized to collect ana
receive the following fares For one person for any as
tapce under miles, six cents and for every mile ana
! fraction thereof, in addition two cents Inc law pro-
vdes also that when excavations Tor tne Iu Wutn ot
the streets and avenues may Dc mhue tney sn hot ~
ofeuer than any one time, nor more tnah one III eaeh
quarter mile OF the proposed route nor shall they DC
kept open longer than Tor period OF % uy III any oo
place except by the consent IN wng Oh the sueot Com
missioner Of the CITY Of iork. -, .,,. ,,iso
that the Company shall before the first day OF January
issq deposit with the Controller of this state, the sum
OF sjOOO0 bonds OF the United states or OF the state
of NewIOrk as pledge that they VIII commence t.e
construction OF said tunnel aud railway, aud complete
the same within the time limited in this Act live years.
upon completion Of the In the time and manner pro
yided the said Controller shall return the said bonds
with The accumulaions Of interest thereon to the said
COMPANY; but upon failure either 10 commence or com
pcte said tunnel and railway within the tine and IN the
! manner provided the said sum OF 100000 IN
/ bouds "a aforesaid shall be forfeited 10 Tie SINK
Ing fund Of the Corporation OF the City OF New York ana
paid over 10 the Commissioners Of the sinking fund
thereof II further provided that before said Company
way and ON before the LIST day OF January 1862 SAID
COMPANY shall procure valid subscriptions 10 their stock
aud shall establish the fact OF the validity Of said sub
scripfons and o the responsibility OF the parties making
the same 10 the satisfaction OF said Controller; where.
upon certificate to that effect shall be made by SAID
Controller and filed by him With the Secretary OF state
and sand certificate when made shall be the warrant OF
gaid COMPANY for commencing said work. In the event
~ tie failure OF said Company 10 deposit the said sum or
! 500 400 and 10 procure the filing OF said GER
thcate Of SAID Controller on or before the first DAY OF
Jauury 1862 then and in either OF said events the au
thoy TO construct the said railway shall cease, deter
! NINE and become void
Another section OF the law requires the Directors to
open for subscription TO the bonds or stock OF sad
Corporation and give least 90 days notice 10 be pub
lished I'm the NewNork Daily TRIBUNE and other dalIes
place places where said books snail DC opened
that an opportunity shall be given those who desire 10
subscribe said stock and the said books shall DC kept
open for at least days. and In the event OF larger
amount being subscribed than tine capital stock OF said
Corporation then such subscriber 10 be entitled 70 pro
rata number shares OF said stock IN proportion 70 tne
amount subscribed, Five per cent or the par Naue u
each share be paid when each subscription j. made
Ii ia the intention OF the newy-eected directors 10
open OF which will be published IN the daily
papers, for subscription a an early day and then 10 take
measures 90 commence work upon the road IL Is 700
soon rs yet to say what plans may be decided on IOr
pushing forward the road 10 speedy completion Inc
original incorporation named in the act are: Messrs W.
Butler Duncan, William B. Ogden, George GrlsWoId'
James BOOrman johnston George d. Craigen, James NJ
! Brown. william t. Dodge, Henry +; Vail, Lewis IS
= Thaycr Clarence s. Brown Henry f. Davis, Julius f.
! Cheesbro. W. W. Huntington, ID, NJ Hlldreth, j.; .
Shuttle. Henry W. SOcum Horace Demlng JOhn fnli-
| Inns, Everett III. kmbark, Bryan Lawrence, Joseph
Kee Royal n. Torrey Thomas Canary, William johnson,
Bernard Kelly. William q. Squier, John fltch, EDWARD
| G. Byrne, Henry Smith. Benjamin Weed, Edward Coles
Daniel H. Jewet Ezra Clark Jr, Isaac Bell ana John l.
| COu0ycr