By an order of the Supreme Court, Kings County, dated March 24, 1897, this Company acquired by condemnation certain property in the old village of New Utrecht from Lydia Woolsey and others for the sum of $800.

Abandonment of road. The Railroad Commission in its report for 1891, states that " that portion of this road along Fifth avenue, between 27th and 36th streets, with the depot and terminal at 27th street, has been abandoned. Also the temporary track along 36th street to South Brooklyn ferry."

Stock and bonds. The Company's report to the Railroad Commission, 1886, stated that $250,000 of its capital stock was outstanding, and that the board of directors had authorized the issue of $250,000 of bonds, of which $150,000 were issued in payment, together with the $250,000 of stock, for the purchase of the road, and the remaining $100,000 were directed to be applied to the payment and satisfaction of a purchase money mortgage.

December 28, 1886, the Company executed a mortgage to the Title Guaranty and Trust Company, trustee, to secure the payment of $500,000 five per cent bonds, to be made up of $250,000 of bonds redeemable after 10 years and payable in 20 years, to be a first lien upon the Company's property, and to be designated as "Series A❞ bonds, and a further issue of $250,000 of bonds redeemable after 10 years and payable in 30 years, to be a second lien upon the Company's property, and to be designated as " Series B" bonds.

The Company's report to the Railroad Commission, 1887, stated that $350,000 of capital stock had been issued, $100,000 for construction, and the remainder for cash, and that $250,000 of the bonds had been issued at par.

For 1890 the outstanding capital stock was given as $482,000, and bonds outstanding to the same amount.

In 1891 the Railroad Commission authorized the Company to increase its capital stock from $500,000 to $600,000.

The Company's report to the Railroad Commission for 1891, shows $500,000 of common stock and a like amount of bonds outstanding.

July 1, 1891, the Company executed a second mortgage to the Title Guaranty and Trust Company, as trustee, to secure the issuance of $100,000 of five per cent 20-year bonds.

The Company's report to the Railroad Commission, 1892, states that $52,000 of preferred stock and $52,000 of the second mortgage bonds, "Series C" had been issued.

June 27, 1893, the Railroad Commission authorized the Company to increase its capital stock to $1,000,000.

October 2, 1893, the Company executed a general mortgage to the Franklin Trust Company, trustee, to secure the issuance of $1,000,000 of five per cent bonds due October 1, 1933. This mortgage contained a detailed description of the line of railroad owned by the Company, as follows:

Commencing at Fifth avenue and 36th street; thence along 36th street and between 36th and 37th streets to a point between Fifth and Seventh avenues, thence through and along private property to a point near Seventh avenue and 37th street, thence across 37th street through private property, crossing Seventh avenue and 38th street to a point near 39th street on private property, thence between 38th and 39th streets to the city line, thence along New Utrecht avenue to Bath avenue, along Bath avenue to 23d avenue to the Gravesend town line, thence continuing along Bath avenue to Bay 35th street, thence through and along private property to the terminus of the road on Surf avenue, Coney Island; also a spur from 41st street and New Utrecht avenue through private property alongside of 10th avenue, across 40th and 39th streets to 10th avenue and 39th street, there connecting with the tracks of the South Brooklyn Railroad and Terminal Company.

The Company's report for 1894, shows the entire authorized capital stock of $1,000,000 outstanding, and that of $1,600,000 of bonds authorized $1,000,000 had been issued.

In January, 1893, the entire stock of the Company was acquired by Brooklyn Traction Company which itself was acquired March, 1896, by Kings County Traction Company, the entire stock of which is held by Nassau Electric R. R. Co.

Change of motive power. June 1, 1893, by consent of the local authorities of the town of New Utrecht, the Company was authorized to change its motive power along its routes in the town of New Utrecht to overhead electricity.

In the report of the Railroad Commission for 1895 appears certain correspondence between J. A. McConnell, of Watertown, and the secretary of the Commission, relative to the right of a steam road to change its motive power to electricity without securing the approval of the Railroad Commission. In his letter to Mr. MeConnell, dated January 30, 1895, the secretary of the Commission

said: "Your letter was laid before the Board at its meeting yesterday, and I am directed to state that the only time the question has come before it was in an application made by the Brooklyn, Bath and West End Railroad Company (then operating as a steam railroad) for the approval of the Board of a change to the trolley system under section 100. The Board held that section 100 only applied to street surface railways, and that the company could not make application under that section. Thereupon the Brooklyn, Bath and West End Company changed its motive power to the trolley system, claiming, as we understand, that it had the right to operate by that system under subdivision 7 of section 4 of the Railroad Law."

From a

Intercorporate relations. (See also chart IV, no. 42.) report made by the South Brooklyn Railroad and Terminal Company (no. 608), to the Railroad Commission, 1893, the railroad of that company appears to have been leased to this Company about 1889. No formal document, however, has been developed to cover this transfer.

April 12, 1889, agreement was entered into between this Company and the Prospect Park and Coney Island Railroad Company for interchange of traffic with The Union Elevated Railroad Company of Brooklyn at 36th street and Fifth avenue.

November 20, 1890, this Company conveyed to the South Brooklyn Railroad and Terminal Company a parcel of land on the south side of 38th street about 60 feet wide, extending from the old New Utrecht town line westerly to a point in the southerly side of 38th street, about 333 feet west of the westerly line of Eighth avenue.

December 30, 1890, the Company became party to an agreement between J. Horace Harding and the Peoples Trust Company, to which the Prospect Park and Coney Island Railroad Company was also party, whereby the property between Fifth and Seventh avenues and 36th and 37th streets was conveyed by Harding and the Company to the Trust Company, to be held in trust for the benefit of the Coney Island Company and this Com

pany.

February 27, 1892, this Company and the South Brooklyn Railrcad and Terminal Company entered into an agreement to extend their respective roads so as to meet at or near 38th street and 10th avenue to form a through route from Coney Island to 39th street

ferry, Brooklyn. The route of the Terminal company from 39th street ferry to the town line of New Utrecht at or near Ninth avenue and the route of that company so extended to 38th street and 10th avenue was leased by this Company. This Company agreed to operate through lines of cars from Coney Island to 39th street ferry over its own and tracks leased from the Terminal company. April 12, 1893, a traffic agreement was entered into between the Prospect Park and Coney Island Railroad Company and this Company, whereby they agreed to establish a depot at the terminus of the Union Elevated Railroad at 36th street and Fifth avenue, with necessary connections and to operate jointly over the tracks of the Elevated Company, and thence over the tracks of this Company. The terminals of both companies at Coney Island were to be used jointly.

April 26, 1893, this Company leased its railroad to the Atlantic Avenue Railroad Company for a term of 25 years from the date of the agreement.

October 3, 1893, this Company entered into a modifying agreement with The Atlantic Avenue Railroad Company wherein the original lease of April 26, 1893, was supplemented, and the term of the lease extended for 41 years from May 1, 1893.

April 30, 1895, an agreement was entered into between this Company, its lessee, and the Brooklyn Elevated Railroad Company wherein it was provided that this Company and its lessee might discontinue the use of the so-called Union depot on condition that this Company's lessee would agree to stop trains operated by it at the station on Fifth avenue between 36th and 37th streets.

June 29, 1895, the interests of the Company under the agreements of April 12, 1889, and December 30, 1890, were cancelled and annulled and the Prospect Park and Coney Island Railroad Company received sole title to the block of land situated between Fifth and Seventh avenues and 36th and 37th streets, Brooklyn, without impairment of the rights of this Company and The Atlantic Avenue Railroad Company of Brooklyn to the tracks on Fifth avenue and 37th street as the tracks were then laid, or the right of these companies to operate their cars on such tracks.

June 29, 1895, the Prospect Park and Coney Island Railroad Company acquired an exclusive right of way over the most northerly of the two single tracks of railroad owned by this

Company lying between the easterly side of the block bounded by Fifth and Seventh avenues and 36th and 37th streets, known as depot grounds, and the commencement of the tracks of the Prospect Park and South Brooklyn Railroad at the old city line near Ninth avenue between 38th and 39th streets, then held under lease by the Prospect Park and Coney Island Railroad Company. The latter company also secured a like exclusive right of way over the portion of the track next south of the track just described, situated between the easterly side of the block above mentioned and the point of intersection of such track with the tracks of this Company, this point being about 20 feet southeast of the southeast corner of 37th street and Seventh avenue. This conveyance was made subject to the three outstanding mortgages of this Company.

March 3, 1896, the lease of this Company's road to The Atlantic Avenue Railroad Company was again modified and supplemented by extending the time 1,000 years from March 3, 1896. Reference was made to agreements entered into February 27, 1892, April 20, 1893, April 26, 1893, and October 3, 1893, and it was stipulated that the above agreements were revoked and a new agreement was substituted in lieu thereof. This Company specifically excluded from operation of the lease certain parcels of land and its franchises to be a corporation, and all of the rights, privileges and franchises, the exercise of which might be from time to time necessary to the maintenance of the corporate organization of this Company.

March 4, 1896, by lease to take effect April 4, 1896, The Atlantic Avenue Railroad Company, including the Brooklyn, Bath and West End Railroad Company, was leased to the Nassau Electric Railroad Company for a term of 969 years, at an annual rental of $150,000 until January 1, 1898, and thereafter for $180,000, in addition to the taxes, and interest on a debt not to exceed $5,500,000. The lessee also agreed to spend on the lessor companies' property within one year the sum of $500,000 for permanent improvements.

May 31, 1898, the agreements of April 30, 1895, and June 29, 1895, were modified by cancellation in so far as they provided for the lease of certain property and trackage rights to this Company, and the Prospect Park company was given the exclusive use of the south track from the depot to the city line.