New-York tribune., 1869-05-21
Tile SUCCESSFUL RAILROAD JOBS.

NEw-YoRK CENTRAL 50 PER CENT BILL.
- AoF -"ofaz the nI,s q as stock Of tie Central
tn, Por> Of q, San Of NarIorG rpr>seai IN aud
SIC. /. The Ncw-York Central Railroad Company is
hereby authorized witG tie concurrence OF wOurs In
amount of all its stockholders, procured in the mode pro-
ycd for section nine OF the act entitled An Act 10
regulate the same" passed April p 1857 its
capital stock to the amount OF 90 per cent OF It's present
SIC The increase Of capital stock authorized by the
section Of this act shall be used only IN SXGhansiug
authorized by the Directors OF said Company AT their
Sc 4 This act shall take effect Immediately
ERIE PERMANENT DIRECTORY DODGE.
Az Acr amending relation to the Ed NewiOrE Central
lie FpE Of Sia, Of Nd7 EOrE rrc'entea Z" Senate aHd
roS section three Of tho act entitled "An act in
relation TO tho Erie. New-York Central Hudson Kver'
and Harlem Railway Companies, passed April 2l 1865
is hereby amended so to read rs follows; No stock,
holder director officer either the New Central
or the Harlem Railroad Company. shall be director or
officer Of the Erie Railway Company aud no s0cGhoder'
rector officer OF either OF the three hrsnaned compa'
MES Tie Board OF Directors IN each OF the SAID comPa.
MES shall classify the members OF such B2ard oy 9t
or otherwise that, as nearly rs may oe ohchh OF cF
number shall 90 out OF once at each annual ei9cuOH
aud at the next election OF directors IN eaGn OF te s
companies directors shall be voted for only IN place OF
whose term shall then expire under the eaSsca-
THE CONSOLIDATION JOB.
The first section provides that it shall and
may be lawful f9r any railroad company OF oI"er %
state operating or owning railroad OF bridge, 10 merge
srv with the Same Of any other company companies
organized under the laws OF this or any other Ste,
Whenever the two or railroads 80 consolidated
shall or may form continuous line OF railroad
The second section sets forth the conditions provisions,
uocr conferred nv the same Frs The Directors of
the companies proposing 70 consolidate may enter INTO
Joint agr,, meat prescribing the terms and conditions
and be mode OF carrying the into effect; the name
OF the corporations the names OF tho ilIst directors
aud officers; the number of shares OF capital stock aul
the par value the aud such other details as may
be deemed necessary second SAID asrecment hall De
submitted to the Stockholders ot each company az S1p
rate due notice OF the tlue place, ana OBJECT
of the said meeting sha 90 given 10 THvn Iie liz o,TS S
stOckhOldcr at least 80 uiys uclol1 liz tto uu,o ,
Of holding the same, and also by general houce, pup
sled daily for at least four weeks, In some newspaper
printed where such company mas l.s pInvlPli M oS.' AZ
said meeting OF stockholders the agreement sha De cOu-
sdered and decided upon by vote by ballot eaeh share
eutng tho holder thereof TO one vote N& can DC Sa5i
personally by proxy II two thirds OF al the votes oi all
the stockholders In favor OF the agreement the avl
shall be certified by the Secretaries, aud the agreement,
or certified copy thereof shall be filed in the Office OF the
section third provides that upon perfecting such
agreement, complying with the requirements AS ABOVE
be one corporations but such consolidation sha not re-
lease such corporation from any OF the restrictions,
sodated. but nothing in this act contained shal allow
any rate of fare for way passengers greater than Two
cents per mile be charged taken tho track
tracks OF that railroad now known as the Newfork Cen
tr Railroad Company and the rate OF late iVr way pas
seucers over the track tracks operated by the said
New-YOrk Central Railroad Company shall continue to
bs two cents per mile, aud no more
Section provides that upon cOnSummatOn or the
act OF consolidation, all tho rights privileges property
real personal and mixed, claims, &c, OF each OF such
corporations shall be transferred 10 and vested IN the
now corporation without further act or deed.
Section provides that the rights OF all creditors OF
and all liens upon the property OF said corporation shall
be preserved unupaed, and all debts aud liabilities of
said corporations, except mortgages aud duties, shall
attach to such corporation. No such action or other
proceedings now pending, IN which either of said ml
road companies a party shall be deemed TO have been
discontinued by the act OF consolidation, but the same
may be consolidated In the name OF the existing corpora
tiOns final Judgment such new corporation may bo,
by order OF the Court motiOn substituted party.
Section six provides that the real estate of such
corporation situate within this State shall be assessed
aud taxed In the same manner other railroad
tions and such proportion Of the capital stock aud
sonal property Of such corporation shall IN like man
miles OF its railroad situate In this State bears 10 the
number OF miles Of It's railroad situate in the other state
OF states.
Section provides that nothing I'm tho contained
shall be construed To allow SUCH consolidated Com
pany to charge higher Of fare per passenger per
mile, for any portion OF such consolidated ine, tha ~
allowed by law. The net shall not apply 10 sreoe
railroads, or IN any way impair tho validity oI a5 % %p
tract now existing between tho Buffalo ana StHtV iS
Railroad Company and the New-lOrk RAILWAY O""3p'nSf
Section eight provides that all the PROVISIONS ui .e5
relating To the formation Of rairOnd cOlpolh'lons,
April =, 1885, SHAH be applicable 90 the new
Section nine provides that 10 companies oI WI
OF thls STATE whose railroads run Oh lhltIlcl o
linef, shall he authorized by this act TO meIE'"i ''
sOdHtr. ,,.- a., ,,,,, ..ot
The concluding section of the act provides that lhe ao
snall take effect Immediately after II becomes "l""