The New York herald., 1869-06-18
THE IwEN1Y-IHaD STREET RAlRlAD FRANCHISE.

To THE EDITOR OF THE HERALD:-
The following are the proceedings Of the meeting
OF the Commissioners Of the Sinking Fund held at
the Comptroller's ONCE June H. 1869, In relation TO
the Twenty third street railroad franchise, at which
were present the Mayor, Comptroller, Chamberlain
and Chairman OF the Finance Committee OF the
Board Of Assistant Aldermen.
Sidney A. Yeomans appeared in person before the
Commissioners present. being the bidder for $4,000
for the Twenty third street railroad privilege at the
the public sale, on the I'd inst.
Bond in the sum Of $150,O0O was demanded from
him, individually, as the amount Of his said bid,
which he individually declined to give. certificate
signed by every Commissioner OF the Sinking Fund,
emitting him TO the privilege and right OF his SAID
bid, upon payment OF said sum (the chamberlain
being presenl, was rendered hun, and bond for
fulnlment and payment requested. which bond and
payment he individually refused to give and make;
said certificate is filed and marked.
He claimed by counsel have really made the
bid for the so-called Twenty-thrd street Railroad
Company, and counsel exhibited an assignment OF
his bid made after the day OF SALE to said socaled
company and there was rendered, on behalf OF said
company, $4,000 In currency, and offered a bond
in behalf Of said socailed company, signed by
George Law and John Kerr: but the Commissioners
refused and declined to recognize any bidder but the
individual one sidney A. Yeomans) who, tndlvidu-
ally on the day OF sale, signed memorandum of bid
and stated that he bid for himself, or any tender,
except one in his Individual behalf, or any bond.
except for the performance by him OF an agreement
TO build the road; wherefore amer some discussion,
on motion Of the Mayor, seconded by the Chairman
OF the Finance Committee OF Board OF Assistant Al
dermen, 1t was unanimously
Resolved That the bid Of Sidney A. Yeomans rejected
and fraudulent and cousive and second because OF
Noncompliance with terms of and that the secretary
forthwith noce hereof said sidney A. leomans
Adjourned. A. OAKEY HALL
Chairman Sinking Fund Commissioners.
W. ii. DIKEMAN, secretary.
Commissioner Hall cesires me to add that In his
legal opinion laws taking away or leasing pubic
property for private uses are to be strictly con-
strued; that the law directed the certificate to be
given TO the bidder: that Mr.. Yeomans individually
bid and disclaimed any association or agency and
himself as principal took IN superseding OF his bid
and signed the mutual auction certificates, which
were afterwards to be replaced by a final one and
his bond; that the interlocutory certificate reced
personal covenants which he made thereby; that
MIR. Yeomans stated on the sale, 81 give Messrs.
Law and Kerr as my sureties;" that the SINKING
Fund Commissioner, having given on his bid q GER
tfcate and contract OF purchase, are compelled to
take the bond from him; that the new railroad COM
YeoInans signed his contract rs principal and not as
agent are lust much at legal liberty TO buy from
him after 1nal certificate after interocutory
tifcates and as matter OF law the commissioners are
entitled to the continuing personal covenant OF Mr..
Yeomans, and to a bond based upon that. Many
Smith desires me to add that, neither doubling nor
relying upon the Mayors legal Judgment he con-
suited prior TO the meeting one OF the most eminent
ana dsintcrested Juriss In the city, and one skilled
In municipal legislation and corporate law, who
entirely conceded with the point that the bond must
of the auction sale. Tue matters which led the Com
missioners the conclusion that the bid was colu-
sive cannot yet be made public, as ! am instructed
to add. W. II. DIKEMAN.