restored, of any of the kinds of tickets herein specified or any other form of reduced rate ticket for the transportation of persons within the state, upon any railroad or street railroad within this state, upon which railroad or street railroad any such form of ticket or tickets for the transportation of persons within the state, have, within five years, prior to the time this act takes effect, been sold or used, and shall determine and prescribe the reasonable and just rates, fares and charges to be thereafter observed and enforced as the maximum to be charged for any of such form of ticket or tickets for the transportation of persons within the state, all of which acts fixing such rates, fares and charges or requiring the restoration of, sale and use of any of such forms of ticket or tickets, shall be by order to be served upon all common carriers, railroad corporations and street railroad corporations by whom such rates, fares and charges or restoration of, sale or use of, such ticket or tickets are thereafter to be observed; 1911, ch. 540, sec. 1, constituting sec. 49 of the Public Service Commissions Law as amended.

REORGANIZATION

By purchasers at foreclosure sale.

may incor

Purchasers of the real estate, tracks and fixtures of any railroad cor- Purchaser poration by virtue of any mortgage, or execution issued upon any judg- porate. ment or decree, may incorporate with all the powers, privileges and franchises and the duties and obligations of such company, under the General Railroad Law; 1854, ch. 282, sec. 1.

may be

The mortgagee of a railroad and franchises may purchase the same Mortgagee at foreclosure sale or under judgment or decree, and may hold or convey purchaser. the same with all the rights and privileges connected therewith; 1857, ch. 444, sec. 1.

incorporate.

Purchasers at foreclosure of property and franchises of a railroad cor- And may poration may become a body corporate, and may take, hold and possess the title and property included in the sale, and shall have all the franchises, rights, powers, privileges and immunities which were possessed by the prior corporation; 1874, ch. 430, sec. 1.

Street railroads excepted from the above provisions; 1876, ch. 446, Street railsec. 1. (Repealed from 1890, ch. 564, sec. 70.) Rights and duties of reorganized company.

roads excepted, 18761890.

to extend.

A reorganized company shall not a compelled or required to extend Not required its road beyond the portion thereof constructed at the time the reorganized company acquired title, provided that the Railroad Commission shall certify that the public interests do not require such extension; approval. 1889, ch. 236, sec. 1.

Subject to

This provision shall not be construed to authorize the abandonment of Not to any portion of a railroad which has been constructed and operated, or constructed portion to apply to Kings County; 1890, ch. 565, sec. 83.

abandon

nor in

This provision shall not be construed to authorize the abandonment Kings county. of any portion of a railroad which has been constructed and operated prior to May 1, 1891, nor to apply to Kings County; 1910, ch. 481, sec. 153.

Roads in

states.

A railroad corporation created under the laws of the state in which two or more the greater part of the line of such railroad may be situated, for the purpose of taking title to and operating the entire line of railroad sold under foreclosure of a mortgage, or a judgment or decree of a court of the states in which the greater part of such line of railroad is located, may hold, possess and operate that part of the line of such railroad lying in this state and shall have all the rights and franchises theretofore possessed by the corporation executing the mortgage under which such sale was made and such as are or may be conferred upon railroad corporations organized under the laws of this state and shall be subject to the duties and liabilities to which such corporation was by the laws of this state subject; 1890, ch. 565, secs. 76 and 77.

Title sold and bought.

Subject to liabilities.

Federal decree.

Subject to consent and

control of P. S. C.

By railroad company.

By street surface railroad.

Not by lessor company.

By every railroad

company.

Form of report.

To the Railroad Commission by

Made to apply to sale under foreclosure of mortgage under a judgment sale or decree of a court of this state or of the United States sitting in this state; 1895, ch. 454, sec. 1; same, 1910, ch. 481, sec. 147. Such railroad corporation may hold, possess and operate not only those parts of the railroad lying in other states but also that part of the railroad lying in this state; 1896, ch. 356, sec. 2; same, 1910, ch. 481, sec. 147.

Reorganizations of railroad corporations, street railroad corporations and common carriers shall be subject to the supervision and control of the proper commission, and no such reorganization shall be had without the authorization of such commission; 1912, ch. 289, sec. 1.

Annual reports.

REPORTS AND DOCUMENTS TO BE FILED

Every railroad corporation shall make an annual report to the state engineer and surveyor by December 1st of each year for the year ending September 30, 1850, ch. 140, sec. 31.

Above not to apply to horse railroads and every railroad corporation operating a horse railroad shall report to the state engineer and surveyor for the year ending September 30th and shall file such report by December 1st of each year; 1867, ch. 906, secs. 1 and 2.

Lessor companies shall not be required to report; 1869, ch. 844, sec. 1. Every railroad corporation shall report to the state engineer and surveyor for the year ending September 30th, by December 20th, in each year; 1880, ch. 575, sec. 2.

The Railroad Commission shall have power to prescribe the form of report to be made by railroad companies; 1882, ch. 353, sec. 10. Information and documents.

Every railroad corporation shall at all times, on request, furnish the Railroad Commission any necessary information required by them conrailroad cor- cerning the condition, management and operation of its railroad, and

poration.

particularly the rates of fare for transporting freight and passengers upon its road and other roads with which its business is connected, and such railroad corporation shall at all times, on request, furnish to the Railroad Commission copies of all contracts and agreements, leases or other engagements by such corporation entered into with any person or corporation; 1882, ch. 353, sec. 7.

Also quarterly reports.

lessees and

By street

Every railroad corporation, or its lessee or other person, who may be And their lawfully in possession of its road, shall report to the Railroad Com- others. mission for the year ending September 30th, by December 20th, in each year, but reports of street surface and elevated railroads to be filed by railroad. December 1st; and every such corporation shall make quarterly and And elevated further reports in the form and within the time prescribed by com- railroads. mission; 1890, ch. 565, sec. 57.

Every person or corporation owning, leasing, operating or in posses- Operation for year ending sion of a railroad, wholly or partly in this state, shall make an annual June 30th. report to the Railroad Commission of its operations for the year ending June 30th, and shall file the same by September 1st in each year; every such corporation shall make quarterly and further reports in the form and within the time prescribed by the commission; 1892, ch. 676, sec. 57. Every common carrier, railroad corporation and street railroad corpo- General form ration shall file an annual report with the Public Service Commission. prescribed by P. S. C. The commission shall prescribe the form of report and furnish blank forms on or before June 30th, and such report shall be filed by September 30th in each year. Any railroad corporation or common carrier other than a street railroad corporation operating partly within the second district and partly within the first district shall report to the commission of the second district; but the commission of the first district may require a special report from such railroad corporation or common carrier. Any street railroad corporation operating partly within the first district and partly within the second district shall report to the commission of the first district; but the commission of the second district may require a special report from such street railroad corporations; 1907, ch. 429, sec. 46.

Tariff schedules.

Every common carrier shall file with the Public Service Commission To be filed and kept having jurisdiction, and shall print and keep open to public inspection on view. schedules showing the rates, fares and charges for the transportation of passengers and property within the state between each point upon its route and all other points thereon; and between each point on its route and all points upon every route leased, operated or controlled by it; and between each point on its route or upon any route leased, operated or controlled by it and all points upon the route of any other common carrier, whenever a through route and joint rate shall have been established or ordered between any two such points; 1907, ch. 429, sec. 28.

General.

filed.

Each Public Service Commission and each commissioner shall have P. S. C. may examine power to examine all books, contracts, records, documents and papers books or of any person or corporation subject to its supervision, and by subpoena require copy duces tecum to compel production thereof. In lieu of requiring production of originals by subpoena duces tecum, the commission or any commissioner may require sworn copies of any such books, records, contracts, documents and papers or parts thereof to be filed with it; 1907, ch. 429, sec. 45.

Railroads generally.

Street

railroads.

ROUTE

(See also Extensions and Change of Route)

The certificate of incorporation of a railroad company shall specify the places from and to which the road is to be constructed or maintained and operated, the length of such road as near as may be and the name of each county in this state through or into which it is made or intended to be made; 1850, ch. 140, sec. 1. It shall also contain the termini; 1890, ch. 565, sec. 2, subd. 4; same, 1910, ch. 481, sec. 2, subds. 4 and 5.

The certificate of incorporation of a street railroad company shall contain the names of the cities, towns and villages, and the counties and the description of the streets, avenues and highways in which and the places from and to which the road is to be constructed, maintained and operated, and the length of said road as near as may be; 1884, ch. 252, sec. 1; same, 1910, ch. 481, sec. 11. "Names of cities, towns and villages" omitted from 1910, ch. 481.

Of railroad company.

Consent of
Railroad
Commission.

Of P. S. C. Of rapid

Every railroad corporation shall have power from time to time to borrow such sums of money as may be necessary for completing and finishing or operating its railroad, and to issue and dispose of its bonds for any amount so borrowed, and to mortgage its corporate property and franchises to secure the payment of any debts contracted by the company for such purposes; 1850, ch. 140, sec. 28, subd. 10. (Omitted from 1890, ch. 565, but restored in 1892, ch. 676, sec. 4, subd. 10.)

But no such mortgage except purchase money mortgages shall be issued without the consent of the Railroad Commission; 1899, ch. 583, sec. 1; without the consent of the Public Service Commission; 1910, ch. 481, sec. 8, subd. 10.

Any rapid transit railroad corporation shall have power to borrow transit com- money and issue bonds and mortgage on the property and franchises to secure the payment of any debt contracted by the company; 1875, ch. 606, sec. 26, subd. 6.

pany.

Certificate of incorporation shall state.

Of street surface railroad.

Of narrow

gauge railroad.

Stock.

The articles of association of any railroad corpo ation shall state the amount of the capital stock of the company, which shall not be less than $10,000 per mile; 1850, ch. 140, sec. 1; same, 1890, ch. 565, sec. 2, subd. 6, and 1910, ch. 481, sec. 5, subd. 6.

The above provision incorporated in the Street Railroad Corporation Law; 1884, ch. 252, sec. 1.

The capital stock of any railroad corporation constructing a narrow gauge road, three feet and six inches or less but not less than 30 inches wide, shall not be less than $5,000 per mile; 1871, ch. 56, sec. 5; not less than $4,000 per mile; 1877, ch. 103, sec. 1; not less than $3,000 per

mile; 1879, ch. 293, sec. 1; same, 1890, ch. 565 sec. 2, and 1910, ch. 481, sec. 5, subd. 6.

increased.

In case the capital stock of any railroad corporation be insufficient for May be constructing and operating its road, such company may increase its capital stock from time to time, to any amount required; 1850, ch. 140,

sec. 9.

Such increase shall have the written approval of the state engineer Approval of and surveyor until such time as there shall be appointed a board of state engineer and railroad commissioners and after that the written approval of such surveyor or board; 1880, ch. 133, sec. 1; same, 1880, ch. 155, sec. 1, and 1899, ch. Commission. 426, sec. 1 (1880, ch. 155, repealed; 1890, ch. 564, sec. 70).

Railroad

Any railroad corporation may diminish its capital stock to any May be amount which may be deemed sufficient for the purposes of the corpo- reduced on approval. ration with the approval of the comptroller (of state) to the effect that the reduced capital is sufficient for the proper purposes of the company and in excess of all debts and liabilities of the company, exclusive of debts secured by trust mortgages, and that the actual market value of the stock of the company prior to the reduction of the capital was less than the par value of the same; 1878, ch. 264, sec. 1 (Repealed, 1890, ch. 564, sec. 70).

It shall not be lawful for any railroad corporation to use any of its Purchase of funds in the purchase of any stock in its own, or in any other corpora- stock. its own tion; 1850, ch. 140, sec. 8. (Repealed, 1890, ch. 564, sec. 70.)

No railroad corporation or street railroad corporation shall take or Stock of hold any part of the capital stock of any railroad corporation or street other comrailroad corporation or other common carrier organized or existing in this state, unless authorized by the proper commission, and save where stock shall be transferred or held for the purpose of collateral security Approval of only with the consent of the proper commission; no stock corporation P. S. C. other than a railroad corporation, street railroad corporation (or electrical) corporation, shall acquire or hold more than ten per cent of the total capital stock issued by any railroad corporation or street railroad corporation or other common carrier organized or existing in this state (except that a corporation now lawfully holding a majority of the capital stock of any railroad corporation or street railroad corporation, may with the consent of the commission acquire and hold the remainder of the capital stock of such railroad corporation or street railroad corporation or any portion thereof). Not to be construed to prevent the holding of stock heretofore lawfully acquired (or to prevent, upon the surrender or exchange of said stock pursuant to a reorganization plan, the purchase, acquisition, taking or holding of a proportionate amount of stock of any new corporation organized to take over at foreclosure or other sale, the property of any corporation whose stock has been thus surrendered or exchanged); 1907, ch. 429, sec. 54; all in parentheses added by 1911, ch. 788, sec. 1.

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