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mission for 1885 stated that the entire authorized capital stock of $700,000 had been issued. March 2, 1887, the Railroad Commission authorized the increase of capital stock from $700,000 to $1,000,000. The report for 1889 shows the entire amount of capital stock authorized, $1,000,000, as outstanding. April 27, 1891, the Railroad Commission authorized an increase of capital stock from $1,000,000 to $1,500,000; and on July 13, 1891, the Railroad Commission authorized additional increases of capital stock of $500,000, bringing the total to $2,000,000. In 1894 the entire capital stock amounting to $2,000,000, had been issued. About 1885 the Company acquired the stock of the South Brooklyn Central Railroad Company. In January, 1893, the stock of the Company was acquired by the Brooklyn Traction Company, afterwards the Kings County Traction Company, all the stock of which is held by the Nassau Electric Railroad Company.

Atlantic avenue improvement. By chapter 498, laws of 1881, this Company and the Long Island Railroad Company, its lessee, were authorized at their joint expense to depress the railroad on Atlantic avenue east of Flatbush avenue, in the city of Brooklyn, in such a manner and to such an extent as might be necessary to enable the companies to run trains in a proper and satisfactory way below the grade of Atlantic avenue. The depression was to extend from a point near Sixth avenue to a point east of Brooklyn avenue. The companies were also required to construct connections from the railroad in Atlantic avenue at or near Sixth avenue, and at the junction of Atlantic avenue and Flatbush avenue with the elevated railroad, thereafter to be constructed on Flatbush avenue, and on a route to Fulton ferry and the East river bridge as authorized to be built by the East River Bridge and Coney Island Steam Transit Company and the Brooklyn Rapid Transit Company. This Company and its lessee were also to operate cars and locomotives in connection with the Atlantic Avenue Railroad over the elevated railroads mentioned. The railroad on Atlantic avenue was to be placed in an open cut in the center of the avenue not more than 30 feet in width between proper retaining walls to be approved by the engineer of the department of city works. This act provided that a connection with a covered way might be made with the depressed tracks on Atlantic avenue by the railroad of the Brooklyn, Flatbush and

Coney Island Railway Company between Classon and Franklin avenues, and the latter company was given the right to use the tracks on Atlantic avenue between the point of connection and Flatbush avenue, and also to use the elevated road on Flatbush avenue from Atlantic avenue to the northerly termini of such road. It was also provided that when the work of depression was completed and connections made The New York and Manhattan Beach Railway Company might contract with The Long Island Railroad Company to operate over Atlantic avenue to Flatbush avenue, with the same right as had been given to the Brooklyn, Flatbush and Coney Island Railway Company to use the elevated railroads to the East river bridge and Fulton ferry. A period of two years exclusive of time lost on account of legal proceedings was allowed for the completion of the work contemplated by this

act.

By chapter 499, laws of 1897, the legislature provided for the change of grade of the portion of this Company's road in Atlantic avenue leased to and operated by The Long Island Railroad Company between Flatbush and Atkins avenues in the city of Brooklyn. The road was to run underground from Flatbush avenue station. to Bedford avenue; between Bedford and Nostrand avenues it was to emerge to the surface and then become an elevated line from Nostrand avenue to Ralph avenue; from Ralph avenue the road was to descend again to the surface at a point midway between Ralph and Howard avenues, and continue thence in an open cut to the west side of Cooper place, where it would again become an underground railroad, continuing easterly to a point near Stone avenue, and thence continuing in an open cut until it emerged to the surface at a point near the westerly side of Jardine place; from Jardine place to Snediker avenue the road was to continue on the surface, and easterly from Snediker avenue it was to be carried on an elevated structure crossing over the New York, Brooklyn and Manhattan Beach Railway and continuing on an elevated structure to a point near Linwood street, where the road would again begin to descend by convenient grades to reach the surface at or near Atkins and Atlantic avenues, and continue thence easterly at the old grade. This act created a board for the Atlantic avenue improvement consisting of seven members, one

of them a practical civil engineer and all to be appointed by the mayor of the city of Brooklyn, except two, who were to be appointed on the written nomination of the president of The Long Island Railroad Company. The Atlantic Avenue Railroad Company, or its lessee, was to bear half the expense of this improvement and the city the other half, with the provision that in no event should the portion of the cost borne by the city exceed the sum of $1,250,000. The date of commencing the improvement was to be determined by the board, but such determination was not to be made until the board was satisfied that a double track underground railroad would be built from the westerly terminus of the railroad concerned in the improvement to some convenient point at or near Maiden lane in the city of New York, and that a company competent to build such underground railroad had secured the necessary consents and franchises, and had entered upon the performance of the work and obligated itself to unite with The Long Island Railroad Company in operating trains to and over the railroads on Atlantic avenue. As a matter of fact, this Company took no active part in the Atlantic avenue improvement provided for by this act, all the work and expense from the standpoint of the companies falling upon The Long Island Railroad Company as lessee.

Intercorporate relations. (See also chart IV, no. 45.)

Leases. This Company entered into agreements with respect to leasing its road and roads of other companies, as follows: March 26, 1877, a lease of its road to The Long Island Railroad Company for a term of 99 years from June 1, 1877.

January 31, 1885, a lease of the South Brooklyn Central Railroad Company for a term of 99 years from February 1, 1885.

December 9, 1885, a lease of the Prospect Park and Coney Island Railroad Company for the full term of the corporate existence of the lessor company.

April 6, 1886, a lease of that part of its road.

commencing at Park and Washington avenues, thence through and along Park avenue, across and along Broadway to and through Locust street, Park street, Beaver street, Bushwick avenue, Jefferson street and Central avenue to the Evergreen cemetery; and also the exclusive use of a stand of one track at Fulton ferry

to Tom L. Johnson, of Cleveland, Ohio, and Alexis I. DuPont, of Wilmington, for a term of the corporate existence of this Company.

July 7, 1892, a lease of the Union Ferry Company of New York and Brooklyn for the term of three years from July 1, 1892.

April 26, 1893, a lease of the Brooklyn, Bath and West End Railroad Company for a term of 25 years.

October 3, 1893, a supplemental lease of the Brooklyn, Bath and West End Railroad Company modifying the original lease so that the full term shall continue for 41 years, from the first day of May, 1893, together with other modifications.

April 30, 1895, a lease modifying the lease of March 26, 1877, of its property and franchises to the Long Island Railroad Company.

March 3, 1896, a new lease of the Brooklyn, Bath and West End Railroad Company in substitution for leases theretofore entered into. This lease to continue for a term of 41 years from the 1st day of March, 1896.

March 4, 1896, a lease of its property and franchises to the Nassau Electric Railroad Company for the full term of 999 years. Trackage agreements. Trackage agreements were entered into by this Company, as follows:

September 24, 1877, with the Brooklyn City Railroad Company whereby it obtained the consent to use the tracks of that Company on Flatbush avenue between Fifth avenue and the Prospect park fountain, opposite Ninth avenue.

July 26, 1884, with the Brooklyn Crosstown Railroad Company whereby that company was permitted to operate its cars on Atlantic avenue, between Fourth and Columbia streets on the tracks owned by this Company.

January 15, 1886, with the Brooklyn City and Newtown Railroad Company, whereby this Company obtained the consent to use the tracks of that company through and along Washington street from Concord street to Front street; thence along Front street to Fulton street; thence along Fulton street to Fulton ferry. April 22, 1887, with The Brooklyn Crosstown Railroad Company, whereby this Company obtained the consent to use the tracks

of that company in Park avenue, between Washington avenue and Navy street.

July 24, 1888, with the Brooklyn City Railroad Company whereby this Company obtained consent to use tracks of that company in Hamilton avenue, between 15th street and Hamilton avenue ferry.

January 1, 1894, with the Brooklyn City and Newtown Railroad Company whereby provision was made for the mutual use of each other's tracks as set forth in detail in the agreement.

Miscellaneous. This Company entered into additional agreements, as follows:

October 15, 1892, with The Brooklyn Elevated Railroad Company whereby it obtained permit to attach wires and electric cables to the elevated structure of that company.

April 22, 1893, with the Kings County Elevated Railroad Company whereby this Company obtained permit to attach its wires and cables to the elevated structure of that company.

November 21, 1893, with the South Brooklyn Railroad and Terminal Company, whereby this Company agreed to equip the roadway of that company with poles and wires and other appurtenances for a trolley electric road.

January 19, 1894, with The Long Island Railroad Company whereby this Company was permitted to construct a crossing over tracks of that company at the junction of Atlantic and Vanderbilt avenues.

April 30, 1895, with the Brooklyn Elevated Railroad Company and Brooklyn, Bath and West End Railroad Company whereby provision was made for connecting the tracks of the respective roads with regulations as to operation of trains by the respective companies at points at which stops were to be made. June 29, 1895, together with the Brooklyn, Bath and West End Railroad Company, with the Prospect Park and Coney Island Railroad Company whereby a certain right of way was conveyed to the Prospect Park and Coney Island Railroad Company.

December 15, 1895, with one Samuel P. Ferree, trading as the Street Railway Advertising Company, whereby Mr. Ferree was granted the exclusive right to place advertising cards in and on each and all of the cars of this Company.

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