3,000 kilowatt hours per day. The agreement was to continue for 25 years from May 1, 1903.

Operation.

Portions of the present subway were opened for operation as follows:

Battery and Broadway to 145th street, October 27, 1904; Battery to 145th, east side, October 27, 1904; 145th street to Dyckman street, March 12, 1906; Dyckman street to 225th street, (irregular operation for first few months), 1907; 225th street to Van Cortlandt park, August 1, 1908; 145th street to Bronx park, July 10, 1905; Bowling Green to Borough Hall, Brooklyn, January 9, 1908; Borough Hall to Atlantic avenue, May 1, 1908; Loop line from the Williamsburg bridge to Chambers street, August 18, 1913.

299

Interstate Tunnel Railway Company of New York

Incorporation.

(Manhattan)

September 20, 1905; General Railroad Law; for purpose of constructing a tunnel railroad to be connected with any railroad of standard gauge, operated by electricity or other suitable power; corporate life, 1000 years; capital stock, $7,500,000; route (about two miles), as follows:

The western terminus thereof will be under the waters of the Hudson river on the boundary line between the state of New York and the state of New Jersey, at a point or points of connection with the railroad of a corporation organized under the laws of the state of New Jersey, to-wit, the Interstate Tunnel Railway Company of New Jersey, where the said interstate boundary line would be intersected by a line drawn from a point on the Hudson river pier head line in Jersey City, New Jersey (which point is 430 feet south of the south line, prolonged, of Pavonia avenue, in said Jersey City, measured at right angles to said Pavonia avenue), to a point on the Hudson river pier head line in the borough of Manhattan, in the city of New York (which point is where such last-named pier head line would be intersected by the centre line of Chambers street, prolonged, in said borough of Manhattan, city of New York). The eastern terminus of the said railroad will be at terminals in Chambers street, in said borough of Manhattan, city of New York, between Church street and a point distant 100 feet easterly from the easterly side of Park Row, in said borough of Manhattan, city of New York. From its western terminus, the corporation will build, maintain and operate a tunnel or tunnels with such number of tracks as may be necessary or convenient, under the waters of the Hudson river and under the said borough of Manhattan, city of New York, to the eastern terminus of said railroad in said borough of Manhattan, city of New York; emerging however, to the surface at the eastern terminus thereof, and between termini, to make necessary and convenient openings for stations and other access to the surface.

Special franchises. September 28, 1905, the Company applied to the Rapid Transit Commission for a franchise to construct and

operate its railroad. There is no record of any action on this application.

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

300 Interurban Street Railway Company
(Manhattan and The Bronx)

Incorporation. November 25, 1901; The Railroad Law; for purpose of taking and possessing the property and franchises of a domestic street surface railroad corporation sold under and by virtue of a judgment or decree of the Supreme Court; capital stock, $500,000; route as follows:

Commencing on Third avenue in said city of Mount Vernon near the present depot of the New York, New Haven & Hartford Railroad Company at depot place, so called, running thence along North Third avenue to North street, thence along North street in a westerly direction to Fourth avenue; thence along said Fourth avenue in a northerly direction to the White Plains road (now known as Lincoln avenue), thence in an easterly direction along said White Plains road to Sagemen's Corners, so called, thence in a northerly direction along White Plains road (now known as Columbus avenue), to Burk's Corners, so called.

This Company is substantially a reorganization of the North Mount Vernon Railway Company, incorporated, April 16, 1898.

Extension of route. June 13, 1902, the Company filed in the office of the secretary of state, a certificate extending its route as follows:

Beginning at the present terminus of the tracks of this Company on the New White Plains road at the north line of the village of Bronxville, thence northerly through, upon and along the New White Plains road to its intersection with the Old White Plains road near the Young property, thence northerly through, upon and along the Old White Plains road to its intersection with Midland avenue.

Stock. February 11, 1902, the Company increased its capital stock from $500,000 to $20,000,000.

Intercorporate relations. (See also chart I, no. 43.) November 29, 1901, the Company took a lease of the property and franchises of the Peoples Traction Company of New York City whose routes were however unconstructed.

February 14, 1902, the Company took a lease from the Metropolitan Street Railway Company for a period of 999 years, of all the lines owned or controlled by the latter company. Under this

lease it agreed to furnish the lessor the sum of $23,000,000 to pay the latter company's debt, and also to pay a rental of seven per cent per annum on the capital stock of the Metropolitan Company. The amount of such stock at that time was $52,000,000, and the lessor company agreed that no additional stock should be issued subject to the guaranteed rental except with the consent of the lessee. In consideration for the payment of the $23,000,000 referred to, the Metropolitan company transferred absolutely to this Company its holdings of the shares of the capital stock of The Third Avenue Railroad Company, The Central Park, North and East River Railroad Company, The Forty-second Street and Grand Street Ferry Railroad Company, The Central Crosstown Railroad Company of New York, the Second Avenue Railroad Company in the City of New York, and The Forty-second Street, Manhattanville and St. Nicholas Avenue Railway Company; the second mortgage bonds of The Metropolitan Cross-Town Railway Company; the income bonds of The Forty-second Street, Manhattanville and St. Nicholas Avenue Railway Company, and such other shares of the stocks and bonds of other corporations, as it owned that were not pledged under any mortgage deed of trust. The Metropolitan company also transferred to this Company all claims which it had against its subsidiary companies for moneys advanced or expended in equipping or improving the property of such subsidiary companies. Under the terms of this lease the Interurban Street Railway Company assumed exclusive operation of all the street surface railways in the borough of Manhattan, with the exception of the lines of The Dry Dock, East Broadway and Battery Rail Road Company, The Forty-second Street, Manhattanville and St. Nicholas Avenue Railway Company and The Central Crosstown Railroad Company of New York. This Company's entire capital stock was acquired about the time this lease was made, by the Metropolitan Securities Company. The holding company was incorporated under the Business Corporations Law, February 14, 1902. Under the terms of the Metropolitan lease and by means of this Company's relations with the Metropolitan Securities Company in addition to the lines directly operated by it, the Company was in substantial control of the entire street surface railway system of Manhattan, The Bronx

and the southern part of Westchester County, with the exception of the railroad from Bartow Station to City Island owned by the Pelham Park Railroad Company and the City Island Railroad Company. February 8, 1904, the lines of The Central Crosstown Railroad Company of New York was leased to the Metropolitan Street Railway Company and operation was assumed by the Interurban Street Railway Company.

Change of name. By order of the Supreme Court held in and for the county of New York, on December 28, 1903, the Company's name was changed from the Interurban Street Railway Company to the New York City Railway Company, such name to be assumed on and after February 10, 1904.

For further history of this Company see New York City Railway Company (no. 477).

301 Jackson and Steinway Avenue Railroad Company, of Long Island City

(Queens)

Incorporation. July 23, 1879; General Railroad Law of 1850; for purpose of constructing a street railway in Long Island City; corporate life, 100 years; capital stock, $50,000; route five miles) as follows:

Commencing at some convenient point at or as near as practicable to the 34th street ferry, at the westerly end of Borden avenue, to Vernon avenue, and diagonally crossing Vernon avenue to Jackson avenue; thence along Jackson avenue and Steinway avenue to some convenient point at or as near as practicable to Bowery bay in the fifth ward of Long Island City, as the avenues mentioned and Bowery bay are severally laid down and designated on the Commissioners' map of Long Island City.

Special franchises. August 1, 1879, by a warranty deed, executed by one Susan Freeman, the Company acquired for the sum of $80,000, half in stock and half in first mortgage bonds, an assignment of her right, title and interest in the franchises of a certain street railway in Long Island City belonging to her, which road ran from a point commencing on Borden avenue or Front street convenient to the ferry, through Borden avenue, across Vernon avenue, through Jackson avenue to Steinway avenue, through Steinway avenue to Bowery Bay, to the northerly city limits. By another assignment of the same date, the Company

acquired from her husband James M. Freeman, in consideration of the sum of one dollar, the transfer of a franchise alleged to have been granted to him by the mayor of Long Island City under authority of a resolution of the common council, adopted March 6, 1877.

The Freeman Grant. July 26, 1876, the common council of Long Island City adopted a resolution granting a franchise to James M. Freeman and his associates, on obtaining the consents. of property owners having a majority in interest along the line, to lay rails and operate a street railway as follows:

From a point commencing in Borden avenue or Front street, convenient to the ferry, through Borden avenue, across Vernon avenue and through Jackson avenue to the easterly city limits at Thompson avenue, with the right to run auxiliary lines upon Van Dam avenue, Hulst avenue and other streets between Borden avenue and Jackson avenue, connecting with the main route; also from a point in Borden avenue or Front street, convenient to the ferry, through Borden avenue, across Vernon avenue and through Jackson avenue and Steinway avenue to Bowery bay at the northerly city limits, with the right to run upon Flushing avenue and such other streets and avenues near the main route as shall later be determined.

By resolution of the common council of Long Island City, passed March 6, 1877, and approved by the mayor March 27, 1877, it was recited that James M. Freeman and his associates had obtained the consent of a majority in interest of owners of property upon the streets in which the railroad was to be constructed, and that authority be granted for the construction of a road, as follows:

Commencing from a point in Borden avenue or Front street, convenient to the ferry, through Borden avenue, across Vernon avenue and through Jackson avenue to the easterly city limits at Thompson avenue, with the right to run auxiliary lines upon Van Dam, Hulst and other streets between Van Dam and Hulst streets and between Borden and Thompson avenues; also from a point in Borden avenue or Front street, convenient to the ferry, through Borden avenue, across Vernon avenue, and through Jackson avenue and Steinway avenue to Bowery Bay at the northerly city limits.

Stock. In a report for 1879, it is stated that the amount of capital stock paid in was $40,000, and the funded debt $40,000. Intercorporate relations. (See also chart III, no. 24.) In the year 1879, it appears in a report made to the state engineer that the Company leased the Long Island City Shore Railroad, of which James M. Freeman was secretary and treasurer, with a route as follows: