Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-04-20

ment, shall be divided tally between
the State of New Jersey M the said
Lehigh Valley Railroad Company. and
the State shall have the further rights
and considerations hereinafter speci-
fed.
5. The State shall grant and convey
TO the Lehigh Valley Railroad Com
pany, Or its nominee, in fee simple.
the right, title and interest of the
State, reversionary or otherwise, in
both the canal terminal basin in Jer-
sey City, commonly called the Little
Basin" and the lands adjoining the
same comprising the grant of March
IA, 1867. commonly known as the big
Bason," and shall convey also all its
right, title and interest Of any) in and
to all other lands of the canal com
pany in Jersey City, including the right
of way of the canal from the said
terminal basin, westwardly to the point
wher the canal is crossed by the
southerly line aforementioned of the
New York Bay Railroad. The convey
ance, of the basin of 1867. however.
shall contain and be subject to the
same terms and conditions in respect
to preserving and maintaining a wa.
ter basin and passage for public navi-
cation contained in the legislative
grant of 1857.
6. In the sale of that portion of the
canal property which lies between the
west line of the city of Paterson and
the point where the canal is crossed
by the southerly line of the right of
wsv of the New York Bay Railroad
in Jersey City aforesaid there shall be
reserved to the State the right to lay
and maintain water and pipes
beneath the surface.
Z. The Lehigh Valley Railroad Com
pany shall convey, or procure to be
conveyed, to the State. so far as it's or
the canal company's title goes or is
hereafter acquii ed, the right to lay and
maintain sewer and water pipes be-
meath the surface in and along the
portion of the canal property extend
ing from the point where the canal is
crossed by the southerly line of the
| right Of way of the New York Bay
Railroad. eastwardly. to the Hudson
River at the said terminal basin.
railroad Pays s500,O 600.
s. Upon the delivery of a conveyance
as aforesaid by the State to the said
Lehigh Valley Railroad Company, or
it's nominee, the Lehigh Valley Rail
road Company shall pay to the state
! the sum of $500, 900, AND shall release to
the State its claim for the sum of
s4S, 900, with interest from December 20,
1889. recently awarded to it by the
chancellor in the basin suit, and also
| release and forever waive any claim to
exemption from taxation of the canal
property and upon any property re-
tanned by it in this adjustment, and
shall also release its claim to recover
from the State the taxes heretofore
paid on the canal property, mount
| to $7eS, All. or whereabouts, besides in
terest.
Q. After the appeal from Chancery IS
perfected in the basin suit the appeal
shall not be further prosecuted until
| the proposed settlement is disposed of
by the Legislature. provided the same
is disposed Of at the next session OF
the LEGISLATURE; and the argument
of the suit now pending in the Supreme
| Court of the United states shall also
be deferred for the same time and un-
der the same conditions.
Dated Arr'l 10. 1911.
WILLIAM II. CORBIN.
r. V. LINDARURY,
Attorneys for Said COMPANIES.
WOODROW WILSON.
BENNETT VAN SYCKEL,
EDMUND WILSON,
Commissioners.