The Providence news. (Providence [R.I.]) 1891-1906, 1898-07-26

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further. that no such location or right OF
any company accepting the provisions OF
this act shall hereafter be revoked by any
city or town council. except under and In
accordance with the provisions OF this act:
and provided further. that any city on town
council. or any company aggrieved there
by. may appeal from any decision OF any
such railroad commissioner upon any such
order within thirty days after the render
Ing of such decision. to the justices of tie
supreme court assigned TO the appellate a.
vision thereof and such justices or q ma
Jority Of them, shall therenpon hear and
finally dstermine all nnotters of law and
fact involved In said appeal. including the
question OF public necessity and conven-
fence, and the propriety Of the order or
decree made by such city or town council.
and may annul, modify or amend any such
In the premises as law and justice may re-
Quire.
Sec. T. The several street railway cornpa-
nies In this state Accepting the provisions
OF this act may hereafter Increase their
capital stock from time TO time to meet the
costs and expenditures actually made for
extensions and for new construction and
equipment. and the cost of such extensions
or improvements shall be certified by the
railroad commissioner. and all Issues OF
capital stock for such purpose shall be
subject to the approval OF such ofiioer.
Sec B. IL the street railway line operated
by any company which accepts the provi-
sions OF this act extends beyond the limits
or this state. the payments TO be made by
such company under the provisions Of this
act shall be computed only upon the gross
earnings Of such company upon it's lines
within the limits OF this state; and In case
the dividends Of such company for any
year ending on the Goth day Of June next
preceding the date upon which such tax is
due and payable exceed eight per centum
on its capital stock actually outstanding In
such year. the further sum, n any. to be
paid by such corporation, In addition sum
equal TO one per centum on it's gross re-
ceipts from the operation OF its lines with
IN tho state for such year, shall be the sum
required to make its payments, under the
provisions OF this act, equal to an amount
which shall bear the same ratio to It's
whole dividends In excess OF eight per GEN.
tum for such year as its gross earnings
from it's lines In this state bear to It's whole
gross earnings for such year. And for the
purposes OF this act the gross earnings Of
any such corporation from Its lines with.
in this state for any year shall be deemed
and taken to be that proportion OF its to-
tai gross earnings for such year which the
length of tracks operated by It in this
state. exclusive OF s.dings and turnouts.
bears TO the total length of tracks, ex-
elusive OF sidings and turnouts, operated
by such company during such year.
Sec. 6. No street railway company which
accepts the provisions OF this act shall be
required to pay the sums herein provided
for during any period when its lines are
operated under a lease or otherwise by
another company witch accepts this act
and pays the tax herein imposed.
Sec. Z. This act shall take effect from and
after It's passage, but its provisions shall
not apply to any street railway company
until such provisions shall have been ac-
cepted and assented to In writing by such
street railway company. and the payments
provided for in this act to be made by any
such street railway company shall not
commence until written assent Ii dsliv-
cred by such railroad company to the state
of Rhode Island, and tho secretary Of state
Is hereby authorized and directed to ac-
cept the same In the name and on behalf
Of the state Of Rhode Island. and under it's
seal. and to sign. seal and execute such ac-
ceptance In duplicate, and 10 deliver one
OF said duplicates to every such asserting
street railway company Immediately upon
the assent OF such company and the other
Of said duplicates to the general treasurer,
and thereupon the provisions Of this act
shall be binding and In full force between
the state and such asserting company. and
shall not be altered or amended without
the consent of both parties. and all acts
and parts of acts. ordinances, votes and
assents inconsistent herewith are hereby
annulled and repealed: Provided. however,
that nothing herein contained shall affect
any Of the provisions of the act entitled
"An act to provide a system of free trans
fers In the city OF Providence" passed by
the general assembly at its January ses-
sion. A. d. 1896; and provided further. that
existing street railway companies accept
ing the provisions of this act shall do SO
on or before October l. 1898.