New-York tribune., 1908-12-17
PURIIC NOTICES


ana agreements herein contained, the par
ties hereto 90 hereby covenant ana agree
Section / The City hereby grants 10 the
| Company. subject to the conditions and pro
| visions hereinafter set forth the right and
/ privilege to construct maintain ana operate
| double track extension TO It's present
/ street surface railway. with the necessary
| wires ana equipment. for the purpose Of
| conveying passengers IN the Borough of
me bronx, IN The City OF New ork,
| upon che following route:
ES-galning at and connecting with
! the existing double track road OF the
| company IN Third avenue at the in
I tersectlon Of said avenue with Pelham
avenue. and running thence easterly in
upon and along said Pelham avenue to
tne southern Boulevard The sald route
4 WITH tuTnouts. switches and crossove vers
heTsoy authorized is shown upon q map
entitled:
Map showing proposed railway OF
me Union Railway Co, IN the Bor-
GASn OF The Bronx, City OF New
York, 10 accompany petition TO the
board ot Estimate and Apportion-
ment dated July IS. 1905
! and sisaed by +. ". Whitridge Re
oeiyer. T. F. MulIsrey. CHIEF Engineer.
and Edward A Maher. President, q
! copy OF which is attached hereto is to
he oeened a part OF this contract. is
10 he construed with the text thereof
ana IS 70 be substantially followed, pro
ll0ed that oevfations thersfrom and ad-
olaonaI turnOuts, switches and cross
overs which are consistent with the
ltEegolng description and the other pro
I visions Of this contract may be permit
! ted by resolution OF the Board
! sec; :. Ihe grant Of this right or pr1vi-
/ lege IS subject TO the following conditions.
! pany:
First-The consent in writing Of the own
/ ers or 1aif IN value Of the property bounded
/ on said streets ana avenues TO the cor
! strUcuon and operation OF said railway
! SHAH be obtained by the Company within
| six months OF the signing Of this contract
! bE the Mayor, and copy OF such consents
J shai be fled with the Board within such
H HHa -
] cannot be obtained within such time the
/ Company shall. within one month there
/ after. make application 10 the Appellate Di-
! vision Of The supreme Court for the ap-
/ pointUent Of Commissioners in tke manner
provided by the Railroad Jsw 10 determine
/ Il said railway ought TO be constructed;
otherwise this grent shall cease ana de-
termine.
seoond-The said right TO construct.
\ maintain and operate said railway shall be
held and enjoyed by the Company for the
term OF fifteen O5J years from the date
J upon which this contract is signed by the
Say Or with me privilege OF renewal OF
salu contract Tor the further period Of
twenty tZol years upon q fair reyaluation
I OF such right and privilege
Il the Company shall determine 10 exer-
Z else Its privilege OF renewal it snail make
/ application To the Board. or any authority
/ which shall he authorized by law TO act for
! the city In place OF the Board Such ap-
/ pilcat1on shall be made at any time not
carrier thail TWO years ana not later than
one year before the expiration Of the orig
inei term OF this contract. The determina-
T TiOn OF the rEValualOI shall be sufficient II
agreed TO in writing by the Company ana
the Board, but IN no case shall the annual
rate OF compensation 10 the City be fixed
at 6 less amount than the sum required 10
be paid during the last year OF this origina1
contract
II the Company and the Board shall not
reach such agreement on or before the DAY
one year before the expiration Of the orig
inal term Of this contract, then the annual
. rate Of compensation for such succeeding
twenty g21) years shall be reasonable, and
either tha CITY tny the Bpe-d1 ha
pany shall be bound, upon request OF the
other, 10 enter into q written agreement
I with each other fixing the rate or such
compensation at such amount as shall he
reasonable. but n no case Shall the annual
rate so fixed Be less than the sum required
70 he paid for the last year prior 10 tbs
termination OF the original term OF this
contract, and If the parties shall not forth
with agree upon what IS reasona bic. then
the parties shall enter into written agree
ulent fixing such annual rate and at such
amount as shall be determined by three dis
Interested freeholders selected in the fol
lowing manner:
one dlsinterested freeholder shall be
chosen by the Board. ols dtsinte-eSted free
holder snail be chosen by the Company;
these two shall choose 8 third disinteTested
1reeaOlder, and the three SO chosen shall
act as appraisers and shall make the re
valuation aforesaid such appraisers shall
be chosen At least six months prior
10 the expiration OF this original contract.
and their report shall be fled with the
Board within three months after they are
chosen. They shall act as appraisers and
not as arbiCators- They may base their
Judgment upon their own experience and
upon such Information as they may obtain
~ inquiries and Investigations, without the
urese1-e Of either party. They snail have
The I3sht 70 examine any OF the books OF
The Company and It's oIflcers under oath
The valuations 60 ascertaiued. fixed and
determined shall be conclusive upon both
parties. but no annual sum shall in any
event 10 less than the sum required 10 be
paid .UT the last year OF this original con
tract If IN any case the annual rate
--T La I'd -S-fr r. ha rav-~r, limit
OF the original term OF this contract, then
the Company shall pay the annual rate
heretofore prevailing until the new rate
shall be determined. and shan then MAKE
Up 10 The city the amount OF any excess Of
lLe annual rate then determined over the
and expenses Of the said appraisers shall
be borne jointly By the City and The Com
pany. each paying one-half thereof
[htrd-The Company shall pay to the
City for this privilege the following sums
az The sum OF three thousand dollars
$4,000 IN cash within thirty go days
after the date on which this contract is
signed BY The Mayor
tbJ During the first term Of five years
an annual sum which shall in no case Be
less than FIVE hundred dollars $500. and
which shah Re equal 70 three 81 per cent
q It's gross annual receipts Il such per
oeatage shall exceed the sum Of five hun
dred dollars $500
During the second term. Of five years an
annual sum which shall IN no case be less
than nine hundred dollars 5000. and
which shall be equal to i've 90 per cent.
of its gross annual receipts, such per
oentage shall exceed the sum Of nine hun
During the third term Of five years. an
annual sum which shall IN no case be less
nan ore thousand dollars $1,000. and
which shall be equal 70 five 90 Per cent
rr its gross annual receipts If such per
cer-aze shall exceed the sum OF one thou
TIE gross annual receipts mentioned
above shall he that portion of the gross
receipts 0f ths COMPANY as shah pear ti4@
same proportion 70 its whole gross receipts
az rra length o. the extension hereby
granted sEaI bear 10 the entire length OF
the line % ths company IN cperatIon.
sh9T r-1gir from the day IN which this
contract IS signed by the Mayor
All such sums as above shall be psla PAD
/ af each year. and shall be Tor tho
amount due 10 September 30 next pre-
ce5ing-
Whenever the percentage required to be
uaid sf.aI exceed the minimum amount as
afove such sum over and above such
minimum shall be paid % the SAID comp
rroTIer on or before November / On each
ear sar the year ending September 30
-7evr preceding. The fiscal year shall end
on September 30 next preceding ssld GATE
# uarrrent and provisions OF the t'allIcan
Law as It now exists. or as II may ne.e
after be amended, relating 70 the matter
IF payments and statements Of percentages
q gross receipts Of street railway com
T1srfes not Inconsistent with this contract
snail he strictly complied with
The intention Of this paragraph is 10 fix
sr. annual charge TO be paid BY the Com
uarv its successors or assigns, 10 Ine
5-,r- Of New York for the rights and nan
crissg hereby granted. and It shall not ne
construed as providing for the payment by
-ba COMPANY. its SUCCESSORS or assigns, of
q rercertage % gross receipts within the
nearing of any general or special statute
referring particularly 70 chapter $40 or the
Laws OF 1892
T9efore any rights hereby conferred are
e,-ercizes bv the Company, and within
-brss C3o months from the date on which
80 ro-7+ract IS signed by the Mayor, the
C,I-r-anv shah pay 10 The City Of New
YcTt the sum OF twenty thousand three
Er--,5-es and elghty-hve dollars and eight
le--s $50 SS5 ne0 and within three CD
months thereafter the further sum OF
rrfrfy-oue thousand seven hundred and
rs+,--efghr dollars and eighty-seven cents
- arrn-Irts helnE due ullsr