Sidebilder
PDF
ePub

September 6 and 9, 1892; from a connection with its present tracks on Broadway at or near where the same now cross the tracks of The Twentythird Street Kailway Company's lines by suitable curves and appliances over 23d street to Lexington avenue, and from a junction of Lexington avenue with 23d street, by suitable curves and appliances over the said Lexington avenue to 27th street to a union with an extended line to be built by the Houston, West Street and Pavonia Ferry Kailroad Company.

April 13, 1895; connecting with the existing road in or upon University place, at or near Clinton place or Eighth street, by suitable curves, switches and appliances, running thence southerly, with a single track, through, upon and along University place and Wooster street or Washington square east, to West Fourth street and running thence westerly along West Fourth street 100 feet or thereabouts, to a point of connection with the extension or branch of the Metropolitan Street Railway Company; also connecting with the existing single track in or upon Wooster street at West Fourth street, running thence westerly, through, upon and along said West Fourth street, 100 feet or thereabouts to a point of connection with the extension or branch of the said Metropolitan Street Railway Company aforesaid.

April 23, 1895; connecting with the Company's existing road and route in or upon University place, at or near Clinton place or Eighth street, by suitable curves, switches, and appliances, running thence southerly, with a single track, through, upon and along University place and Wooster street or Washington square east, to West Fourth street, there to unite with an extension or branch of the Metropolitan Street Railway Company; also commencing at the intersection of West Third street and Wooster street, and connecting there by suitable curves, switches and appliances with said Company's track in Wooster street, running thence westerly, with a single track in or upon West Third street, 130 feet, being one half the block between Wooster street and South Fifth avenue, there to unite with an extension or branch of the Metropolitan Street Railway Company.

May 14, 1895; commencing at the intersection of Greenwich avenue and Perry street, and connecting there by suitable curves, switches and appliances, with the Company's existing road in said avenue, and running thence westerly, in or upon the surface of Perry street with a single track to Hudson street, also connecting at the intersection of Greenwich avenue and Charles street and connecting there by suitable curves, switches and appliances with the Company's existing road in said avenue, running thence westerly, with a single track in or upon the surface of Charles street to Hudson street. Said single tracks in said Perry and Charles streets are to connect at Hudson street with a branch or extension of the Central Park, North and East River Railroad Company, and the said branch or extension is less than one half mile in length.

September 17, 1895; connecting with the Company's existing double track road in or upon Broome street, at or near the westerly side of Broadway, running thence easterly, with double tracks, across Broadway and in or upon Broome street, 180 feet or thereabouts, to a point of connection with the branch or extension of the Bleecker Street and Fulton Ferry Railroad Company in said Broome street aforesaid.

February 3, 1897; commencing at the westerly side of Broadway and connecting there by suitable curves, switches and appliances with the. Company's existing double track on Broome street, running thence easterly with double tracks across Broadway to Broome street, thence easterly in or upon Broome street to Centre street, there to connect with an extension or branch of the Metropolitan Street Railway Company.

Legislative franchises. By chapter 513, laws of I860, the original franchise was granted to John Kerr and others, who later organized the Company. The grantees obtained a franchise covering the routes as set forth in the charter.

Change of route. By chapter 500, laws of 1866, the Company

was authorized to change that branch of its route running by

double track through Fourth and Thompson streets as follows:

On Fourth street from Macdougal street to Thompson street, single track; on Thompson street from Fourth street to Canal street, single track; on Macdougal street from Fourth street to Amity street, single track; on Amity street from Macdougal street to Sullivan street, single track; on Sullivan street from Amity street to Canal street, single track.

This new route was to connect with the Company's track in Canal street and the change was to continue "until Thompson street shall be widened in the manner provided by law."

Chapter 904, laws of 1867, required the Company to run its cars on Macdougal street in the same direction as the cars of the Bleecker Street and Fulton Ferry Company.

Local franchises. October 8, 1892, by resolution of the common

council, the Company obtained a franchise as follows:

On 23d street from Broadway to Lexington avenue, double tracks; on Lexington avenue from 23d street to 27th street, double tracks; also across Canal street to South Fifth avenue and through South Fifth avenue from Canal street to Broome street, double tracks.

April 14, 1896, by two resolutions of the common council, the Company obtained a franchise to construct its road on the following streets:

On Broome street from the westerly side of Broadway to a point easterly 180 feet, or thereabouts, double tracks, to connect with the branch or extension of the Bleecker Street & Fulton Ferry Railroad Company; on University place from Eighth street to Wooster street, single track; on Wooster street from University place to West Fourth street, single track, there to connect with an extension or branch of the Metropolitan Street Railway Company; on West Third street from Wooster street to a point 130 feet westerly, single track.

Stock and bonds. In 1865 the entire capital stock had been subscribed and paid in and the funded debt amounted to $1,200,000. In 1870 the funded debt had increased to $1,500,000. In 1885 the funded debt consisted of $1,500,000 of first mortgage bonds due January 1, 1904; $500,000 of second mortgage bonds due July 1, 1914, and two real estate mortgages of $100,000 each. In 1894 the outstanding capital stock remained at $2,100,000, and the funded debt consisted of first mortgage bonds $1,500,000; second mortgage bonds $500,000 as heretofore had; first consolidated mortgage bonds due December 1, 1943, for $7,650,000. In 1912 the funded debt was $8,150,000.

Intercorporate relations. (See also chart I, no. 12.) May 17, 1884, this Company entered into an agreement with the Broadway Surface Eailroad Company, whereby it obtained the right to connect its tracks with the tracks of the Broadway Surface Company when completed and to run its cars in common with the cars of the Broadway Surface Eailroad Company through Broadway to the Battery. In like manner, the Broadway Company was given the right to operate its cars over the road of this Company to Central park.

September 9, 1885, by another agreement entered into between the same companies, the second mortgage bonds of the Broadway Surface Railroad Company, amounting to $1,000,000, were guaranteed by this Company on condition that the Broadway Company should not run more than five cars a day upon the routes to be used in common under the contract of May 17, 1884.

Early in 1886, the majority of the capital stock of this Company passed into the hands of the Metropolitan Traction Company, which had been incorporated in New Jersey on February 19, 1886. This was at the beginning of the series of financial manipulations and mergers which led to the incorporation of the Metropolitan Street Railway Company and the consolidation of the surface lines in the borough of Manhattan.

March 5, 1889, an agreement with the South Ferry Railroad Company was ratified by the stockholders of this Company, by which this Company secured the right to use the tracks of the South Ferry Company. This Company agreed to guarantee the principal and interest of $350,000 of the bonds of the South Ferry Company and to pay the expenses of the South Ferry Railroad Company for all repairs, taxes, snow removal, etc. The agreement was to last during the corporate life of the two companies.

May 13, 1890, this Company leased its lines to the Houston, West Street and Pavonia Perry Kailroad Company. On December 12, 1893, the latter company was merged into the Metropolitan Street Eailway Company, and on February 14, 1902, all the lines of the Metropolitan Street Kailway Company were leased to the Interurban Street Railway Company (name afterwards changed to the New York City Railway Company).

Change of motive power. November 13, 1889, by resolution of the common council, approved by the mayor, the Company was authorized to change its motive power in Broadway from horse to underground cable. This Company received the consent of the Railroad Commission for change of motive power on July 31, 1890, and the consent of the property owners on September 17, 1890.

Construction and operation. The Company's main line was opened in 1864. Operation by cable was commenced in 1894, and continued until 1900 and 1901, when it was changed to underground electricity.

From data obtained from the New York City Railway Company in 1908 it appears that the franchise route as described above had been constructed, and was owned by this Company, with the following exceptions:

On Canal street, from Sullivan street to West Broadway; on West Broadway from Canal street to Park place; on Duane street from West Broadway to Broadway; on Varick street (from Canal /street to West Broadway; on 15th street from University place to Broadway; on Wooster street, one track from Clinton place to Fourth street; on Broome street from Broadway to Crosby street, the routes remained unconstructed; on Sullivan street from Canal street to Grand street, single track, electric, is owned by The Dry Dock, East Broadway and Battery Railroad Company, this Company having trackage rights; on Third street from Sullivan street to McDougal street, single track, electric, is owned by the Sixth Avenue Railroad Company, this Company having trackage rights; on 23d street from Broadway to Lexington avenue, both tracks, electric, are owned in common with the Twenty-third Street Railway Company.

This Company is credited with the ownership of the tracks on 50th street and 51st street between Sixth and Seventh avenues, for which the Sixth Avenue Kailroad Company holds the franchise. These tracks were constructed to give access to the big car bouse at this point, which was purchased by this Company from the Sixth

Avenue Railroad Company.

The tracks and trackage rights of this Company are given in

the above statement as follows:

Owned, underground electric, 52,781 feet, single track.
Owned, horse, 28,213 feet, single track.

Trackage rights, underground electric, including half ownership of Twentythird Street Eailway Company, 2,045 feet, single track.

Owned in car houses, 21,046 feet, single track electric, underground construction.

The routes of the Company are now operated by the New York Railways Company.

30 Broadway and Yonkers Patent Railway Company

(Manhattan and The Bronx)

Incorporation. July 26, 1866; General Railroad Law of 1850,

for the purpose of constructing a railroad to be propelled by rope

or cable attached to stationary power; corporate life, 999 years;

capital stock, $10,000,000; route (about 25 miles) as follows:

At or near the southerly extremity of the city of New York and extending thence northwardly with one or more branches parallel or lateral to the main line which latter continues through said city to the village of Yonkers, Westchester County.

Construction. No record of any construction. The Company has probably forfeited its corporate existence.

31 Broadway Central Underground Railway Company

(Manhattan)

Incorporation. June 9, 1880; General Eailroad Law of 1850;

for the purpose of constructing an underground tunnel railroad;

corporate life, 99 years; capital stock, $14,000,000; route (about

14 miles) as follows:

Beginning at or near South ferry and thence along and under Whitehall street to Broadway; under Broadway to 5&th street; under 59th street to the Boulevard; under the Boulevard to 10th avenue, and under 10th avenue to its northerly terminus at or near Kingsbridge.

Stock. In the Company's report to the state engineer for the year 1882, it stated that $1,410 of its capital stock had been paid in.

Construction. No record of any construction. The Company has probably foi'feited its corporate existence.

« ForrigeFortsett »