The sun. [volume] (New York [N.Y.]) 1833-1916, 1870-07-09
THE GRANDEST FINANCIAL OPERA
7ION OF THE DAY

How TO Bniid Twelve Miles Of Canal with
sS'OOO-stnte, City, County, and Town
Lands Given AwRy-Thc Valuable Fran
chise Secured by the Favored Few The
Advantages Of Belonging TO the Ring.
The project Of utilizing the system of water
courses that separate the island OF Manhattan on tho
north from tie main land of tue State Of New
York, by converting them into a continuous navigi
bic canal from the Hudson to the East River. was
conceived upward Of quarter OF century ago
WHEN charter was FIRST obtained iron the Legisla.
tuIe for aCompany to carry out the enterprise Tnc
Company so incorporated however, seems to have
cone nothing more than threaten work and apply
periodically to the Legislature for amendments to ts
charter, probably With view TO keeping It alive by
securing Its occasional recognition. 1t was reserved
to the
BOLD AND ESTERPRIsISG SPIRITS
that control Tammany Hall, and. through that pow
erful organization. the city and county n not the
State, to discover the rich placer hidden in this
franchise aud oecure to themselves the inestimaby
valuable rights and privileges covered In the plaus.
bic scheme for the benefit OF commerce. rhe well.
known gentlemen composing that mysterious but
all'powerful AMI active comb ination, the Tammany
Ring, In The quiet and adrot manner at which they
are such adopts, abandoning all oil charters and all
legislation secured from former Legisa tn res in the
spring OF 1868 procured a new charter from the
Legislature OF this State, Incorporating
THE HUDSON AND HARLEM RIVER CANAL coNPASr
THIS act OF incorporation, which Is a long and care
fully prepared bill, containing twenty four sections
was secure to he passed without attracting tho pub
lie attention Its importance demanded; and to this
day there are but few residents OF the city, aside
from the persons named as ncorporators, who know
Of its existence, much less have any conception Of
the valuable franchise /, eonveTs almost as free
nj N na ortu mat Pent in
HERE WE ARE AGAIN.
This important act specifies as the incorporators
OF the Company "a persons who shall become sub
scribers 10 the stock" and for the nrs Direc
tors Of the Company provided they shall become
subscribers, tho following persons; Matthew r.
Brennan, Daniel Dcyln, Adon smith, james A.
Henderson, stephen G. Walker. Egbert ", Flrchild,
Jonathan W. Allen, William j. Peck James c. vii.
lett James NJ Cromwell, james II. Nolan Henry
Smith, Milton courtwrght, William II. Stewart,
John p. Cummings George VI. Van Mort Henry W
Genet and Charles A. Lamont
VALUABLE FRAScHtsR GIVEN AWAY.
The purposes OF this incorporation are defined in
the act to he the constructing, maintaining, man
aging and operating canal, with all the necessary
or proper basins, docks, wharycs, piers, bulkhead-
commencing at the bulkhead line on the Hudson
River, as located by the IIsrbor Commissioners at
the mouth OF Spuyten Duyvel, and thence to the
draw or swing bridge ofthe Hudson River Railroad ;
thence along such line or route rs the dire may
deem proper. 10 the bulkhead line on the Harlem
RIVER as located by lie I1rbor CommissIoners Z"
An amendment to this act, passed April 81, 1851, au
ihornes an extension Of the canal TO such point on
Long Island sound, and along such line Us the Di
rectors may deem proper
coMMEScISo Mo GRAD.
This amendment most generously permits the d.
rectCrs or n majority OF them, to receive any real
%a.er AZ rgn OF o,Her 1 HrGpcr % T 'n may oe
OF the work, and also to sell lease, or otherwise use
the same for the benefit OF the Company, Section
II Of the original act, In the same generous spirit
provides tnat "in case any land belonging 90 the
people OF the State Of New York, or to any county
city, or town, Is required FOR tho purposes author
lied by this act, the Commissioners OF the Land
once or the county, city or Town ohcers having
all or any mar, OF such land TO said Company If they
shall deem 1t pro per to do so and when said canal
shall cross any public street. avonue road, or high
way, the Company shall not be required TO make
any compensation for the land taken Of the public
street, avenue, road or highway but shall, by suit
pair its usefulness" As Harlem River is a public
highway, the. course OF which tho canal follows
throughout the greater part of It's length' saving
where II cuts across the upper point of the island
as seen BY the map, where 1t follows the course OF y
street, the only private property taken IS small
the SpuYten DuyVe belonging to tho Hudson River
Rolling Mills Company, which the Canal Company Is
authorized to seize, as wel as any other private
lands It may require, by the usual course OF apply,
In K to the Supreme Court for commissioners 10
assess damages. Thus canal nearly twelve miles in
gable water, is secured to a private corporation
without the trouble or expense even OF purchasing
the right OF way.
NUMEROUS GOOD THINGS CONTAINED IN CANAL
CHARTER.
Another noticeable provision OF this very gener-
charter IL cont aimed In section reiterating the
powers and duties OF the Company, which is repro
du ccd entire as n rem aTkable specimen Of adroit-
ness in framing bills. The language Is as follows:
sEo. Z. The omp any shall have power
s. To make construct aud maintain canal or slack
water nnyg alton OF suitable width, depth, and dimen-
sons be tete rmned by the Directors but of not ess
than sixty feet water surface IN width nor less than
seven feetn dep tn Of water AZ low water for the pas
sage ol vessels boats ard noals OF all descriptions,
whether prope ed BY sails, steam, or other boTsT,
act and ,1hlec. to the modification therein provided,
and also for the use, convenience maintenance. aud
protection Of the sad canal or Of Tue vessels nayxa
ting the shme or the business connected herewith TO
construct and maintA suitable mbAnkinents basins,
walls docks, Whdrres, PIERS Offices, and toiLbouses and
other necessary and convenient 10rkl bu Ifn1s and
grounds connected herewith but nothing herein con.
aned shall be held construed 10 grant any right OF
this State TO land under water.
rus oohPAsr CLAIMS TO HAYS A BIO rHIKa.
Ono would think that . canal designed for such
knnatp nurpnsnA over Q route aiaslenlhs OF