Johnstown weekly Democrat. (Johnstown, Cambria County, Pa.) 1889-1916, 1890-05-09
THE CITY COUNCIL.
Proceedings of the Nee ting of Common
Council and of the Joint Session Last
Evening.

Evening.
Prior to the meeting of the joint session
the Common Council held a short meeting,
at which the license tax ordinance passed
third reading. The meeting adjourned to
meet Friday evening of this week.
The joint session, President Yeagley in
the chair, met in the Common Council
Chamber at 7:45 o'clock. The Clerk read
the call of the Mayor for the session, set
ting forth the object of the meeting, The
Flood Finance Committee, through Mr..
Cyrus Elder, who also spoke for the Board
of Trade, presented clearly the proposed
changes in the channel of the Stonycreek
to insure freedom from danger from high
water in the future.
When Mr.. Elder had concluded his re-
marks there was recess of fifteen min
utes, during which the members exam
ined the maps prepared by Engineer Karl
Schenk After ther the recess Mr.. Elder
spoke further, concluding by offering the
following from the Committees of the
Board of Trade and from, the Finance
Committee
To the Honorable, The Mayor and Councils
Of the City Of J0hnsto1on:
The undersigned citizens of Johnstown
propose to undertake the organization OF
"Real Estate and Improvement Com
pany," to be incorporated under the laws
of the State of Pennsylvania, for the pur-
pose of changing the channel of the Stony
creek River by creating new channtl
for said river through that part of the
said city formerly known as 'Kernville"
as shown upon the map of said Improve
ment prepared by Carl Schenk, Civil
Engineer. Said work to be undertaken
upon the terms and conditions following:
1.-The Corporation shall be organized
with capital stock of not less than Two
Hundred Thousand Dollars, which shall
all be subscribed, and ten percentum
thereof shall be aid up in cash.
2.-Subscriptions of stock shall be
taken by having the same ope to the
public during period of not less than
ten days of which public notice shall be
given during which period any person,
firm or corporation may subscribe stock
not to exceed the sum of Five thousand
10000 dollars, paying ten Der cent, to
the person or institution designated as
treasurer for the shareholders.
3.-If the amount of stock subscribed
snail exceed the capital of the corpora
tion, then the first and earliest subscrip
ton shall be preferred,
4.-Jf at the end of the said period the
whole amount of capital ha, not been
subscribed, subscriptions may forthwith
be taken without limit of the amount,
provided, that ten per ent., of such sub
scriptions shall be paid up as aforesaid.
5.-The City Of Johnstown will release
to the corporation so organized all title in
and rights over that portion of the bed of
the Stonycreek which is to he vacated,
which it may have or erc.se, so that
the same may becomethe private property
of the said corporation upon the acquisi-
ton by it of all other title and rights
thereof.
6.-The City will authorize the excava-
tion uf the proposed new channel for said
river and the diversion of the waters of
said river to SAID channel Subject, how.
ever, to the condition that said corporation
shall acquire all necessary rights and
licenses from the owners of private prop
erty affected by said Improvement, and
pay all damages to which said private
owners may become entitled.
7.-Said corpora ion, if successful IN
its negotiations with private property
owners to procure title to the bed of that
part of tie stream vacated, and to procure
title to the land required for the new
chanT el of said stream, will proceed with
out delay and with all reasonable dill
gence to create new channel for said
stream, safely diverling the waters there
to-, and will fill up to the level of the grade
of the streets of the city all streets laid
upon that part of the channel of the
sire I'm which is abandoned as water
corrse.
9.-The streets laid out by said corpo-
lation upon and over the land acquired
hy the change of said stream shall con-
form in general character and width to
the corresponding or connecting streets of
the CITY; said streets shall become the
property of the city without the payment
of any damages.
9.-The city shall adopt such resolu-
tions and enact sucn ordinances within its
legal powers as may be needed to carry all
of its agreements herein set forth into
effect.
10.-Ii this proposition shall be APP
proved by the proLe er authorities of the
city, then formal agreement between
the city and the undersigned promoters
of said corporation covering the matters
herein set forth shall be authorized aud
properly executed, which agreement shall
be formally re-executed by the city with
the said corporation after it shall have
been organized, and shall have accepted
the agreement made by said promoters in
its behalf
11.--Said agreements shall contain the
provision that if the proposed corporation
shall not be organized and the said work
commenced within six months from the
date thereof, then the agreements shall be
declared void by the city at any time
thereafter.
JOHN THOMAS,
A. j. MoxHAM,
HERMAN BANNER,
CHARLES F. KREss,
II. w. STOREY,
Committee of the Board of Trade.
JAS. MCMILLEN,
NpO m GuANI-