New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-01-26

taken before ds well after such vacancy
occurred snail be deemed TO be properly before such
commissioners. The said commissioners shall de
whether such railroad ought be constructed and
operated and shall report the evidence taken 10 said
termination whether such road ought to be constructed
and operated which report, If in favor Of the oonsiruc
by SAID court be taken In lieu O the consent OF the
prOperty-owners above mentioned. such report shall
said commissioners, unless the said court or Judge
thereof shall extend such time
I and the property owners, OF. in lieu thereof the
authorization Of the said supreme Court upon the
board OF RAPID transit railroad commissioners shall
at once proceed 10 prepare detailed plans and pccll
cations for the construction of such rapid transit rail
way, or railways, including AL devices ana APP
pultenances necessary to secure the greatest efficiency
specifications for suitable support. turnouts Switches
sdings eGnnecon, landing places ba aE plat
vices and Other suitable spPanseS ncaeai and
the best and most efficient system Of rapid transit, In
view of the public needs and requirements and tho
said Board may In It's discretion include in said plans
provisions for Subways or tunnels for sewer ga or
water pipes, electric wires and other conductors
proper 10 be placed underground whenever necessary
do in order TO permit Of the proper construction
of any railway herein provided for in accordance
with the plans and specifications Of the said Bead
Whenever the construction of any railway, depressed
way, subway tunnel under the provisions OF this
act shall interfere with disturb or endanger any
sewer water pipe. gas ppe or other duly authorized
snb,Snrface structure the work Of construction at
such points shall he conducted in the city Of New
York III accordance with the reasonable requirements
and under the supervision of the Commissioner Of
Public Works and IN other cites IN ac &C.. wm
OF the officer or local authority having the care Cf
and the jurisdiction or control over such ,nriac
All expenses incidental 10 such supervision and u
the work of reconstructing. readjustng and support
Ing such sewer. water pipe gas pipe or othcr SUB
surface structure shall be borne and paid by the
company constructing any such railway, depressed
way, subway tunnel
FRANCHISE SOLD AT PUBLIC AUCTION.
sec. :. The said board. after having secured the
necessary consents, and after having prepared such
detailed plans and specifications are 10y this act
provided for shall sell at public auction in the city
where said railway or railways to be built and
for The account and benefit Of said city, the rght
privilege and franchise TO construct maintain ana
operate such railway railways. Notice Of the time
aud place Of such sale shall be published Three tunes
week. for least aX successive weeks. III AT least
three daily newspapers published III ss'u o,f ~
board may pIescsiOo all such terms ana cohdliohs Vi
sale IL may deem 10 be Tor inc interest ol iho
ways are to he constructed The advertisements OF
sale shall contain only much of tnc sa'd terms
plans specifications for the construction as the
Board may think proper, but such advertisement mus.
state at what place The full terms, plans ana spc'h-
cations mag be examined, and tiey sna.l be suoIec-
l. examination uhdef suon redsondoe iuV an" ~
kttiOus the board may prescribe. Inc tcrHls oI
sale shall provide for the construction OF The iaway
Or railways under the supervision oil inc DodIu anu
for the approval Of an engineer or ch-iheeis 70 ~
appointed irOn Time TO time by the Dodu, ana inc
corporation or corporations To De OrsdIheu lol nc
purpose of constructing and operating >uch ld"as
railways III TINS act pfONlocu shall pay sutl
engineer or engineers such sa.ary a. may rom ;i'ic 10
time, hAed 10y said board of RAPID transit rail-
road commissioners. such engineer or engineers shd
hold their oIhce at the pleasure oil inc sdlu Ooau'
The terms of shall require the successful bidder
10 deposit with the Controller or chet fiscal oihcer
OF the city in cash or approved securities such amount
the Board may deem sufficient 10 constitute a
guarantee of full compliance with the terms OF SAFE b
the purchaser and by tie corporation 10 be formed
the purpose of building and operating sad aIi,
way as hereinafter provded The terms OF ,ae smai
require the construction OF the rudd 10 De Dehui,
within time to be specified in said terms OF sale ana
to be finished WITHIN certain enc ta u, I s
reserve the board the power 10 extend the times
for the beginning and completion Of the cons r ton
of said railway II III ito discretion tie Su h.aru "c ~
such extension to be for the b"st interest, 81 the
| city. In case the corporation formed TOR t9e pui,
| puSe OF constructing sa,d RAILWAY Shaii lai l"
| begin or finish the construction within the umc'
| ior those purposes respectively limited, All Hshl''
privileges ana franchises 81 shch P'r"ton ~ H'f.'
tain and operate said railway shall be- forfeited ana
| upon such forfeiture beng adyudecd by IN" court III
suit brought for that purpose III ihc h'no o ''c P'
pie b. said LOaid of rapid transit railroad 'uhIs
oner.. then the said board shall have power To- al
vertise and resell satd rlghtN pfiSleeI' ana
and much OF the road as shall have been constructor
by such corporation; such suit snail nave prc,eue,e
of suc resale shall be applied first To The payment 81
any liens which may have been created upon sucn
property, and the baapce shall be- paid Owe 70 ia:
the organization by the purchaser or purchase Of such
| rights, privileges and franchises Of corporation to
exercise the same. and 10 construct maintain ana OPP
crate such rapid transit railway or railways with the
power, and subject to the duties and liabilities granted
| also specify tie amount OF the carla oil any ,u'n
corporation. and number Of share, II capital stock
which such corporation shall be- authorized 10 Issue
the percentage 70 be paid ~ cash by thc SUBSCRIBER
Oh subscribing for such shares, the maAndh amount
Of the bonded Indebtedness when such corporation BE-
authorized to incur, aud which may bc secured hl mort
gage upon lis property ami franchises, ana thr HdA-
ton may charge and collect for the carriage 81 persons
and property: The said board may, II It considers
that the public interest require, 1t I" do reject all
bids and rcad'@iil>e The said right, irViieSe. ana
! franchises for sale, with the sdme or inherent
terms OF sac, a. oiteh 81 IL may qet e, ecan,
that bid which undc all circumstances. in it, opin-
and no bid shall be accepted without the concurrent
Of four members Of the board. The terms OF sale
on any such resale must contain an the pLoVioios IT.
CURED by TINS act 10 be Inserted III the 9Ilehal t'i.,
! OF sale. such sale may be adjourned hom umc to-
time at the discretion Of the board. All sale 0f such
rights, privileges and franchises shall be made for
definite term of years Lut the expiration OF The term
gage or other lien upon the property OF such corpora
ton the rights OF any creditor or creditors OF such
contained shall be construed as u extend tho term
for which such rights. privileges and franchises are
| sold
Sec g. Within one year, and not less than six months.
prior to the expiration Of any term for which such rights
board shall proceed to resell the right 10 maintain and
operate the said railway such sale shall be made IN thc
Is empowered to make suitable provisions FOR securing
to the CORPORATION then operating sncil railway or
real personal. which the said corporation may own
OF which n may De vested al the expiration Ol INV
term for which such rights privileges and franchises
sold. Any corporation heretofore organized under
the provisions of this act may he purchaser on such
re, ale: but if such corporation be the purchaser
new corporation shall be formed 10 maintain and 0p
crate said road in the manner prescribed for In the
organization OF corporation on the original sale, ex
ccpt that the plans and specifications according To
which said railway has been constructed need not be
sci out at large, hut be referred to as forming
part of the articles Of association Of said new cor
poratiOn.
sec. o. The said board by the concurrent vote Of
four members thereof. may employ such engineers
attorneys and other persons, from time 10 time as II
NAV i'm it, discretion. deem necessary 20 the proper
performance by ii OF It's duties this act prescribed
THE QUESTION OF FINANCES.
Sec. TO- The board Of estimate and appOrtlonment
or other board public body which is imposed the