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

be chosen al least six months prior 10 the
expiration OF this original contract; anu
! their report shall be MED with the bodrd
! within three months after they are choseh-
They shall act as appraisers anu not as
arbltraJOrs- They may base their Juos-
ment upon their own experience anu upon
sucn information as they may OBTAIN Dy
| inquiries and Investigations. without ths
| presence OF either party Iney sha4i uas
| the right TO examine any Of tbs DOCKS OF
| the Company and its officers under Oath,
| The valuations so ascertainsd. fixed ana
| determined shall be conclusive upon Doth
parties, but no annual sum shall, IN any
| event be less than the sum reQdlIsu 70 o5
paid for the last year OF thlS oLlsAla4
| contract II in any case the annual Idte
shall not be fixed prior 70 the terLIihASiol I
Of the original term OF this CONTRACT thsn
the Company shall pay the annual IeSo
tberetofore aing until the new rate
shall be determined, and shall then MAKE
IN 10 the City the amount OF any excess
~ the annual rate then determined over
the previous annual rate. The coInpehsa-
ton and expenses Of the said appraisers
So2lnaI,, s.2lI T each having one half thereof.
iTbird2The Company shall pay 70 the
City for this privilege the Following SuInS
The sum Of three thousand FIVE hun
dred dollars (S3. 300. IN cash. within thirty
cS2trsci SSgI GISi i, 1ttg5 signed by the Mayor
During the FIRST term of five years an
! annual sum. which shall in no case De
| less than three hundred and seventy ty-HvS
/ dollars (S375), and which shall be equA4
TO three per cent. OF its gross annual Re
1 CENTS II such percentage SUGAl SA-SSA SAAD
| sum OF three hundred and SeVehty-E'e
During the second term OF five years an
| annual sum which shall in no case De less
! than Six hundred and eighty-seven dollars
! esd and which shall be equal 20 hts
per cent Of its gross annual recelPIS ~ II
! such percentage shall exceed the sum OF
six hundred and eishty-seven dollars
During the third term of five years an
| annual sum which shall in no case %
| less than seven hundred and thirty-six
/ dollars CxT56), and which shall be equal
TO five per cent Of its gross annual I..l.5 re-
the sum OF seven hundred and htty-six
| The gross annual receipts mentioned
| above shall be that portion OF the gross
I receipts OF the Company as shall bear the
! same proportion to its whole gross re-
| ceipts the length Of the extension heLeLL
/ ny granted shall bear 70 the entlre IehBIh
! OF the line in operation.
| The payment of such minimum SUITS
| shall begin from the date on which THIS
| contract is signed by the Mayor
/ All such sums above shall be pa1d
/ into the treasury Of the city on November
! 1 of each year. and shall be Tor ne
! amount due 70 September 80 next preced-
/ ing
! Whenever the percentage required TO be
/ paid shall exceed the minimum amount
| as above. such sum over and above such
| minimum shall be paid to the sald ConLG
! troller on or before November I IN each
| year for the year ending september og
| next preceding. The fiscal year sha end
| Of payment, and provisions Of the Railroad
| Law 1t now exists. or as It may here
/ Of payments and statements Of percent
ages Of gross receipts OF street railway
| companies not inconsistent with this con
| tract. shall be strictly complied with
The intention OF this paragraph is 10
fix an annual charge TO be paid by the
! Company. its successors or assigns, 70
| The Citv Of New York for the rights and
| franchises hereby granted. and IL shall not
! be construed as providing for the payment
I 10 CT q
! Of percentage OF gross receipts within
! the meaning OF any general or special
| statute, referring particularly to chapter
/ $40 OF the Laws of 1892
Any and all payments to be made by
! the terms Of this contract to the city by
| the Company shall not be considered IN
such payments shall be IN addition to any
| and all taxes Of whatsoever kind or de
| sCription now or hereafter required to b
| paid by any ordinance Of the city or oy
| any law Of the State OF New York.
Fourth-Upon the termination Of this
/ original contract. or II the same hs Re
| said renewal term, OF upon the ternina-
ton Of the rights hereby granted for any
| other cause or upon the dissolution OF
/ the Company before such termination, the
! tracks and equipment c1 the Company con
the streets. avenues and highways shall
become the property OF the City without
cost. and the same may be used or dis
| posed OF by the City for any purpose
/ ysy,atsoevAr or the same may be leased 20
any company or Individual
If, however. al the termination Of this
| grant as above the City tb- the BoardJ
| shall 60 order by resolution. the Company
/ shall, upon thirty 800 days notice from
the Board, remove any and all Of It's tracks
| and other equipment constructed pursuant
! 10 this contract. and the said streets. ave
! uues and highways shall be restored TO
! their original condition at the scls COST
I and expense Of the Company.
Fifth-The annual charges OF payments
shall continue throughout the whole term
0 I-F 7fg rra0 FrarH Har- nrfp fpl
| newal Notwithstanding any clause IN any
| statute or in the charter OF any other rail-
way or railroad COMPANY R5ovlGlng toI
| payments for railway or railroad rights
| or franchises at a different rate, and no
| assignment lease or suitcase Of the rights
/ or privile eyes hereby granted, Wneth5F
| original or renewal. OF Of any part there
/ of, OF any OF the routes mentioned
| herein or of any part thereof shall bs
| valid or effectuaI fOr any purpose unless
| the said assignment. lease or suitcase shall
| contain covenant on the part OF the
! assignee or lessee that the same ts subject
to all the conditions OF this contract. and
| that the assignee or lessee assumes and
| viii be bound by all OF said conditions.
and especially said conditions as 10 pay
| mants anything IN any statute OF IN the
/ charter OF such assignee or lessee TO the
/ contrary Notwithstanding. and that the
/ said assignee or lessee valves any more
/ favorable conditions created By such
| statute or its charter. and that It will not
| claim by reason thereof or otherwise eX-
| emptfou from liability to perform each and
all of the conditions Of this contract.
sixth-Ths rights and privileges hereby
/ granted shall not be assigned, either in
/ whole or in part, leased or subIet in
! any manner, nor shall title thereto, or
| right, interest or property therein, pass
I to or vest IN any other person or corpora
/ tion whatsoever. either bv the act OF the
! Company, its successors or assigns, or by
J operation Of law, whether under the pro
! visions Of the statutes relating to the
! consolidation or merger Of corporations or
/ otherwise. without the consent of the City
/ acting by the Board, or It's successors IN
{ authority evidenced by an instrument
! under seal. anything herein contained to
[ the contrary thereof in anywise notwitfl-
! standing, and the granting, giving or
| wafviuE Of any one CT more of such con-
/ sants shall not render unnecessary any
/ subsequent consent or consents.
| Seventh-NothinE IN this contract shall
/ be deemed % affect In any way the right
/ Of the City 70 grant 70 any Individual or
/ other corporation = similar right or priv
| iIege upon the same or other tsTA ana
/ conditions. over the same streets. avenues
/ or highways he-einabove described In sec
/ ton I.
The use OF said railway which shall be
I constructed by the Company under this
! contract including the tracks, wires and
/ other equipment or any structures IN
/ public streets and avenues owned by the
[ Company and used IN connection there
I with shall be permitted by the Company
/ 10 any Individual or corporation 20 which
/ the City may have granted. or may here
/ after grant. the right or privilege 10 use
/ such streets. avenues or highways herein
I above described in section l. for street
/ railway purposes. upon payment OF an an
| nual sum by such individual or corporation
/ 10 the COMPANY which shall be equal to
| the legal interest on such proportion OF
the whole cost Of the construction Of such
railway and structures and Of the cost Of
/ keeping the tracks and track equipment In
/ repair as the number OF cars operated by
[ such company or Individual shall bear to
I the number OF cars operated by the COM
| panies then using the same. together with
{ the actual cost Of the power necessary
/ FOR the operation OF the cars thereon OF
| such individual or corporation and the
cost Of Iaviug and repairfnz OF paVenent
/ and removal Of snow and fee, and all the
/ other duties imposed upon the Company by
/ the terms Of this contract. in connection
/ with tho maintenance or the operation OF
| the said railway SO used. Provided how
ever that II in the opinion Of the Com
/ pany the leFaI rate OF interest OF the cost
/ OF such railway shall be an insufficient
/ sum tn pay for the Of such tracks, Il
! may arpeaI 70 the Board. and the Board