New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-05-27

vlded also that as to all construction and inn
provement which is al the option OF the
company the power make such constr, ,!i
and IMPROVEMENT shall continue for and be limited
the period preceding the nrs fnr o'
The Manhattan company shall pay to me cry cry
Of Newyork compensatiSn ana rental f"r at the
rate OF haf OF per Gen, Whoy upon such
Connection and extension. The compensation and
rental herein provided shall be pald 20 inc On,
New York annually on the list day OF February
in ench year for the year COR portion o, yrfbf end
ing the preceding 3lst day or peceHoe''
RATE OF COMPENSATION.
The rate Of rental and compensation hereinhe-
fore provided shall continue Tor the term OF thirty
five years from and after the time OF the COM
mcncement Of the operation Of the connection ana
extension hereby authorized. Al and after the
expiration Of thiryfour years from the said per''n
OF commencement Of operation and the beginning
OF said term the said compensation and rental
shall be readjusted for succeeding term OF thirty
Ave years to begin on the expiration OF the hrSt
term and such readjustment shall take place AZ
the expiration OF every thirty i've years tnereater
for a succeeding term ~ thirty-hve years NO re-
adjusted annual rental shall be less sum or money
than the average annual rental for the first term
OF thIrty-five years hereunder. In case the Man
haitian company and the Roari In lieu Of the
BOARD such officer or such authority or au'nofines
the powers Of the Board. Shall nor agree ,p@n wy
amount Of the readiustad rental on or before a
date not later than Mn" months pelor
ton ~ any such term. then sch renIal sn'i " ~
termineh 10y arbitration as follows Inc bohth ai,n
hiirnior such appointment stall he made in writing
and notice thereof given inwrfing 20 the other party
a, aa,g not be crm Whn ton days after
tho said date the arhiiraiors shall appoint tnlrI
arbitrator. and II within said ten days they sna
no; agree upon and appoint a IhlIa arbilIatol
then such third arbitrator shall 10 FOR thwn nhns1
appointment ~ such third arbitrator the arnitrator'
shall take The oaths n any. pr"scrh"d by iaw
I...H trfff GO Hoard,
co,,f St. ~ he civ ~ NcW york ard the Man
haitian company. meet and proceed from day 10
rn,nsii"n ~ a rnniori,y shali be- reached. In ar
riting 80 such det"rmiu1ton inc sali arpitrt'2Is
CaD Allowance shah he made for all m" expense
OF keeping The snd connection ana sSi"ns,,on; Sra
levied thereon and for the expense OF operating Inc
sam" ,.., ~. -.
r.gal ratc on money appended hy the Manhattan
company IN tho c9ns'rnc '9p.ngnt 4r sa
lions and appurf"nanccs.
C., Allowance shall pc made FOR icterlor,tion
tension stations and appuricnanc"s. ~ IN" rate or
PER cent per annum np9n tn@ cost tnrr. .o ,o,.
going allowances. TX such annual sum ms they shnil
deem fair and reasonable, but the annual sum SO
ne, proat resulting to the company from, the main,
tennnc" ant oiIt1ti"n ot We o n ailowance.
from tho earnings thereof for the Immediately pre-
ccdng year.
shall be actually and diligently operated with due
regard Tor tho convenience of the traVcl,ng Pubic
long as tho franchise hereby granted Shail re-
main In force.
In the closing sections Of the certificate OF the
franchise the Manhattan company binds itself
TO construct the line within tho term OF three
years md 10 carry out all the obligations imposed
The Commission took no action in the matter.
hl, referred tho proposition 10 ls counsel ana en-
rneers who will report upon II at the next meet
Ing OF the Board.