The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-05-24


second street. in the city OF New YORK. and ex-
cept such portions OF streets and avenues as
are already legally designed or the main line
Of or occupied by an elevated or underground
railroa1s IN active operation. Also, excepting
public parks lands occupied by county buildings;
also excepting that portion OF the city OF Buffalo
between Michigan aud Main streets PROVIDED
OF the property bounded on, and the consent Of
the local authorities be tirst obtained or IN case
the consent OF sucn property owners cannot be
ers, to be appointed by the supreme Court, after
due hearing Of all parties interested, whose de-
TAKEN in Lieu OF the consent OF such properL't
owners
Section SHAT the said Commissioners shah.
having invited the submission Of plans, within
ninety days after their organization, decide upon
the plan for the construction OF such railway.
Section 6-Tnat said Commissioners shall Within
a like period or ninety days alter organization de-
be ready for operation together with the maxi
mum rates and the hours during which special
ike period OF ninety days shall determine the
amount OF capital stock OF the company TO oe
formed for CONSTRUCTING maintaining ana ope-
rating such railway, the number OF shares and the
cash percentage to be paid on subscription.
section THAT said Commissioners SHAH pre-
pare articles OF association for the railroad COM
pany, with the proviso that in case OF failure 10
complete such railroad within the given Tune the
franchises OF such corporation shan DE iorIelteu
TO tue Supervisors OF the county; subscription
books TO De opened within 40 days after the or
ganization OF said Commissioners.
Section SHAT Us soon as the whole capital
stock shall have been subscribed for by not ICES
In casn paid IN the commissioners shall call a
meeting OF said subscribers for the purpose oil or
one year.
Section provides for the Issuance and Ming OF
the Commissioners certificate ana directors am
davis, the receipt OF certified copies q which ~
the Secretary OF State shall be deemed presump-
tive evidence OF tue incorporation Of said con-
pany.
directors by stockholders.
ment of subscription 10 stock. under penalty u
forfeiture.
SecLion II relates TO the Individual liability Of
stockholders for he debts OF the company.
Section 13 provides that the stock snail be-
deemed personal estate, but shares snsl be
transferable until all Calls due shall nave been
fully paid.
ital stock to any amount sanctioned by vote Of
two-thirds In amount OF all the stockholders.
Section is provides for the personal on liability
OF persons holding stock Ia any such company az
executor or trustee, or holding Il as collateral
security.
Section IS provides for action by lahore rs
against SAID company IL case any contractor snaiI
fail TO pay laDorers.
Section II empowers any such corporation gem
orally 10 hold real estate required for the railway,
and In case OF non. agreement with owners gives
the right TO acquire title as hereinafter provided.
Section IL provides Tor petition by the CONS
pany to the Supreme Court for the requirement u
Section 10 provides for procedure before thu
supreme Court on such petition, and for the ap.
Appraisal.
section 20 provides for proceedings before ana
thereof 70 the supreme Court.
Section y provides Tor the confirmation OF sucn
report By the Court and tue issuing OF order
stating substance OF proceedings and description
OF real estate appraised and direction as 10
manner OF payment OF money therefor by tho
Section % provides for the entering into possess
sion By the company OF such real estate so
acquired; also provides Tor appeals from tho
appraisers report by either party TO the Supreme
Court and proceedings thereon, such appeal not
TO anect the possession or the company.
SecflOn - PROVIDES as TO payment or money TOE
such real estate into court BY the company and
10 amend any formalfty defect in the proceed
lngs under tnis act and TO add new parties and TO
appoint new Commissioners III so required
section "a provides as 20 amendment OF acquired
title oy the company II found detective.
shall have power to direct legal conveyance OF re-
CURED realty BY holders no. authorized 10 sell and
convey the same.
voluntary grants or real estate; second, that
nothing herein contained shall affect the act au-
tnorlzing the construction OF railroads. upon
Indian lands, passed May II, 1885; third provides
Tor intersections and jolnings Win railroads
previously constructed, and upon decision oil
amount or compensation in respect OF such inter-
section; fourth. empowers the company TO convey
persons and property upon their railway oy steam
or any motor other than animal power: hIth, EN-
powers The company 70 construct and operate
commissioners. excepting tnat nothing IN this acT
shall autnorfze cue construction OF q railway cross
ing the track OF any steam railway now ia actual
operation at she grade thereof or the erection Of
piers or supports for any elevated railway upon a
ranysy track now actually In use IN any street or
avenues sixth, empowers the company TO issue
bonds.
Section ~ provides that every railway onnciai
snal wear badge, otherwise be snail no. be en-
titled TO exercise any OF the powers OF nls Office.
section y provides as 10 the conveyance OF
Section 20 empowers servants OF the corpora
ton 70 expel any passenger refusing 70 pay MS
Idre.
furnish sufficient accommodations Tor It's patrons,
and snan be liable for any neglect in tons respect.
or a locomotive engine or while scting as conduc-
tor on such railroad be intoxicated he shah
deemed guilty OF a misdemeanOr.
section 80 provides remedy for malicious tets
against the property OF tue company.
section 80 provides Tor proceedings Tor psnalt 90
section "a provides for the dissolution az any
future time o. any such corporation BY the Legs
Section IS provides in the case or intersection
for tue temporary removal or any horse railway
tracks aud restoration thereof nothing contained
In this act shall authorize any corporation iormed
tnereunuer 10 use tue tracks OF any horse railway.
Section Is provides that whenever the routs
determined upon by said Commissioners coincide
with the route or routes covered by tHe charter
or an existing corporation formed Tor tne pur-
pose provided for by thts act, provided trst sad
corporation has not forfeited It's charter or fail 4
70 comply with the provisions thereof requiring
the construction OF any road or roads within tA8
time prescribed by its charter. sucA CORPORATION
shall have the like power to construct and operate
sucn railway or railways upon fulhlment frequire-
ments and conditions imposed by said comm =
sioners as cooperation specially formed undcr
this act To this section tne following lnpOr ans
amendment was made Just previous 20 the passags
OF the bill And the sad Commissioners may TX
and determine the route or routes BY wnicn any
elevated steam railway or railways now in
actual operation may connect with other steam
railways or the depOts thereof or with steam ier-
ries, upon fuiflment by sucn elevated steam raul
way company. So lar al IL relates TO such connec-
tlon. OF such Of the requirements and CONDITIONS
imposed By said Commissioners under sectOn on
this act a. are necessary TO be fulfilled ln suca
cases under section is Of article or the constltu-
ton OF THIS state; and such connecting elevated
conferred by section 20 OF this act; aud waen any
connecting route or routes shall be so DESIGNATED
sucn elevated railway company may CONSTITUTE
sucn connection. with all the rights and with hkO
eject as though the same had been part OF tina
original route 0f such railway.
Section 81 provides that said commissioners
shall hand over all papers and money 90 sucn
corporation wiLnin one month after organization,
after deductlng amounts due 10 Commissicnera
Tor expenses aud salaries.
section 80 provides mat each OF said Cofnms-
sioners shall be paid $40 per DAY for each Gay Of
acruat service,