The New York herald., 1877-08-30
THE FERRY FRANCHISES.

2ecenty, by public advertisement, Vt announced
That the lrunchises OF eleven ferries running from
New York to Its suburbs would sold auction.
When that sale about 10 take place less than two
weeks since, an injunction served upon the Comp
troer, Mayor, &c, and the other members OF tho
Sinking Fund Commss!on restraining the sale until
the iurth,r order OF the Court. Accompanying this
temporary injunction order directing the city
officials to show in Supreme Court, Chambers
why the temporary injunction should not bo contin-
ned until the final termination Of the suit In obe-
hcnce to that order to cause tho matter came
before Judge Van Brunt, in Supreme Court, Chambers
yesterday, for argument Mr.. Andrews appeared
ou behalf OF tho city and the Comm lssion-
crs OF the Sinking Fund, and Mr. Laro,quo
and Mr. Scribner to sustain the injunction.
The suit was brought In the of James @. Hull
taxpayer, under the PROVISIONS oi tho act oi 1872
whicn authorizes taxpayer 10 bring SUIT to enjon
waste the city. The act authorizing the rate OF tho
Jerry franchises says that before they offered
the com OF the Sinking Fund shall an
praise Their value, and that shall TO the minmum bid
accepted al sale to be made at The highest market
able Inns estimate made anu The appraised
value liked at Ave per cent OF the gross amount
receipts. TINS system Is opposed by Mr. Hull the
ground thai the marketable value OF the franchise can
not be liked by sucn estimate and that sale gov
erned by such estimate would not DC sale at tho
highest value as required by statute THIS
theory opposed by aiidavits among which was
one by Comptroller Kelly, which he alleges
that tho system liked by the Commissioners OF
the city the highest remuneration ior the priviege
that Ia 1874 the Terry from Houston street. New York.
to Gold street, Brooklyn, sold to the Houston
Ferry Associates ut Two and hall per cent on The
gross receipts, subject 10 annual rent OF 50, 500
bc paid 10 tho Commissioners OF the sinking Fund, but
thc Associates refused To Inc lease, claiming
that they meant Two and naif per the gross
receipts on one side, whereas the Official meaning on
the part Vi the CITY was two and hall per
side. Up 10 May 1872 these Associates paid nothing
aud then GAINED that they only liable to pay the
ST. $40 rent served the OF the SINK
my Fund when the sale for these leases about 10
take place, including tho Hous street Jerry,
tins Injunction threatened unless the
$4,000 would be accepted; that hc believes tho
injunction bccu served the o those
airendy holding the ferry franchises. aud with view
TO iofcc sale and leases their terms that the
plaintin Hun was formerly an employe OF Duncan,
Sherman Co., whose counsel appears for some OF
the companies sustaining the inuaction and that he
III u mas no sucn substantial interest IN tue matter
should justify hun III prosecuting this action. Alter
long argument the law Of the case, IN which the
legality Of the proceedings on the part Oi the city, aud
tbat thcy couducc 10 rs best financial interests,
urged by the Corporation Counsel, ana opposed by
counsel representing tue Interests OF the ferry COM
panies Judge Van Brunt took the papers, saying he
would render u decision on Monday next.