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of the owners of such tracks, and to build single track only on New York avenue from South street to the village line, until such time as double tracks may be required by the necessities of travel. By further resolution of the board, adopted October 7, 1897, the Company was granted permission to change its tracks from Bandman avenue and Elm street to South street and Henry street, on condition that Bandman avenue and Elm street where the tracks had been laid, should be put in good condition, and that the new track should be completed by November 15, 1897.

By agreement dated January 26, 1895, the highway commissioners of the town of Jamaica authorized the Company to construct its railroad on that portion of Cherry avenue and Foster's Meadow road extending from New York avenue to and through private property to Rosedale or Ocean avenue, and thence to the town line of Hempstead. This grant was conditioned as follows: The road to be of single track, with flat rails, the Company to pave and keep in repair the surface of the street between its rails, and for a distance of two feet on either side; the road to be built and in full operation within three years from the date of consent; cars to be run daily for transportation of passengers at such intervals "

as may be reasonably demanded by the convenience of the people;" at the expiration of 20 years the Company to pay to the town of Jamaica two per cent of its gross earnings under this franchise.

By agreement, dated March 14, 1896, the board of trustees of the village of Far Rockaway authorized the Company to construct its road on Remsen avenue from the village line to McNeill avenue, and thence on McNeill avenue to Mott avenue. This grant was conditioned as follows: The railroad to be built with single track, and flat rails; the Company

the Company to pave

the surface of the street with broken stones or gravel, and keep in repair that portion of the surface of the street and the rails and tracks, and for two feet on either side; the road to be built and in full operation within three years from the date of this consent. Cars were to be run every hour during the summer season, from 6 a. m. to 9 p. m., and during the rest of the year “as often as the convenience of the public shall require.” At the expiration

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of 20 years the Company was to begin to pay to the village two per cent of its gross earnings under this franchise.

By resolution adopted June 10, 1896, the board of supervisors of Queens County authorized the Company to construct a double track road, to be operated by electricity, cable, compressed air or any other lawful motive power, from Grand street in Jamaica along the Jamaica and Hempstead turnpike, to its junction with the Jericho turnpike at Queens, and thence continuing along the Jamaica and Hempstead turnpike by single or double track to the Hempstead village line. This grant was conditioned as follows: Flat rails were to be used; after April 1, 1897, or upon the completion of the macadamizing of the highway, cars were to be operated between Grand street, Jamaica, and the villåge of Hempstead as frequently as the convenience of the public travel should require; and between Grand street and Jericho turnpike, at Queens, from May 1, to November 1, at least once an hour each way froin 6 a. m. to 11 p. m.; and between November 1 and May 1, at the same headway, from 6 a. m. to 10 p. m.; the Company to keep and maintain the space between its tracks and for one foot on either side, up to grade and in good repair; the rate of fare from Grand streot to Jericho turnpike not to exceed five cents, and from Grand street to the village of Hempstead, not to exceed 20 cents.

By resolution adopted June 13, 1896, the highway commissioners of the town of Jamaica authorized the Company to construct its railroad along the Jamaica and Hempstead turnpike road from the Jamaica village line to the Hempstead town line, upon substantially the same terms as those set forth in the resolution of the board of supervisors of Queens County, adopted June 10, 1896.

By agreement dated July 9, 1896, the board of trustees of the village of Jamaica authorized the Company to construct its road upon that portion of Jamaica and Hempstead turnpike, be tween Grand street, Jamaica, and the easterly village line. This grant was conditioned as follows: The road to be completed and in full operation by October 1, 1897, if the work of macadamizing the turnpike had been completed by that date; the cars to be run at least once an hour each way, between 6 a. m. and 11 p. m. in the summer, and between 6 a. m. and 10 p. m. in the winter; the fare from the westerly line of the village to the intersection of the Jamaica and Hempstead turnpike road with the Jericho turnpike road at Queens, not to exceed five cents.

By agreement dated December 28, 1897, the trustees of the village of Jamaica authorized the Company to construct, maintain and operate a double track street railway in that portion of Fulton street between the westerly side of Washington street and the easterly side of Grand street, connecting with the existing tracks of the Company at those points. This grant was conditioned as follows: That no greater number of tracks should be constructed in Fulton street than were already in that street, and that if it should be determined that the board of trustees had no right to grant a franchise for a longer period than 25 years, the grant should be construed as intended to expire at the end of that period. (In this portion of Fulton street, Jamaica, the Brooklyn, Queens County and Suburban Railroad Company already had a double track railroad).

Stock and bonds. In the report of the Railroad Commission for 1895 it was stated that the amount of capital stock then outstanding was $60,000; in the report for 1896, $80,000; for 1897, $285,000 and for 1898 the whole, or $600,000. In 1895 a mortgage had been made for $600,000, the whole amount of bonds being issued prior to 1898.

Intercorporate relations. (See also chart III, no. 23.) By agreement, dated April 26, 1897, the Company acquired the right to use the Brooklyn, Queens County and Suburban Railroad Company's tracks on the Jamaica plank road in the village of Jamaica, between Washington and Grand streets. The Company was to lay the necessary curves and switches to connect these tracks with its own road at Washington street and at Grand street, and was not to have the right to use any side-track, stand or terminal of the Suburban Company, or establish any stand or terminal anywhere on this portion of the Jamaica plankroad. This agreement was conditioned as follows: The Company was not to operate more than six cars per hour over the Suburban Company's tracks in each direction, or 120 cars a day in each direction; the Company was to pay $1,200 a year for these trackage rights, and in addition the sum of 10 cents per car mile for each car mile run by its cars over the tracks in question; this compensation to include payment for electric power. The length of cars to be used was limited to 40 feet. The length of the Suburban Company's tracks between the points mentioned was agreed upon as being 2,150 feet in each direction, or 4,300 feet of single track. This Company agreed not to make any rate of fare between competitive points in Brooklyn that might be reached by its cars in connection with those of any other company, and any point on the Suburban Company's tracks in Jamaica, or beyond these tracks, less than the existing rate of 10 cents in each direction or 22 tickets for one dollar, good only on this Company's own line to its connection with the Kings County Elevated Railroad. This agreement was subject to termination by either party on 90 days' notice to the other.

By agreement, dated October 11, 1899, and filed in the office of the secretary of state October 25, 1899, the Company was consolidated with the New York and North Shore Railway Company to form a new New York and North Shore Railway Company (no. 436).

Construction and operation. In the report of the Railroad Commission for 1895, it was stated that about a half-mile of double track had been laid, but had not yet been turned over to the Company by the contractors; the length of route projected at that time was about 20 miles. For 1897 it was stated that the construction of the road began in 1895, and had not as yet been completed; further, that only a small portion of the road had been operated during the year, and that such operation had been carried on for the purpose of complying with the terms of the Company's franchise. The Company's lines were described at this time as consisting of a total of 24 miles single track only, and 0.8 of a mile operated under lease. The owned trackage consisted of a double track road from the Brooklyn city line to Jamaica, and thence to Queens, a distance of 7.6 miles; a single track line from Jamaica to Far Rockaway, a distance of eight miles, and sidings amounting to 0.8 of a mile. In 1898, it appears that the construction of the road had been completed the preceding year.

338 Long Island Electric Railway Company

(Queens Incorporation. The Company was originally incorporated as the New York and North Shore Railway Company (no. 436), on October 25, 1899; name changed October 1, 1903, by order of the Supreme Court, granted August 28, 1903.

Reason for change of name. Prior to October 25, 1899, there had been two corporations: The Long Island Electric Railway Company and the New York and North Shore Railway Company. By agreement dated October 11, 1899, and filed in the office of the secretary of state October 25, 1899, these two companies were consolidated to form a new corporation under the name of the New York and North Shore Railway Company. In 1902, all of the property and franchises acquired from the original New York and North Shore Railway Company were sold under foreclosure, leaving the company in possession of only the property and franchises acquired from The Long Island Electric Railway Company. It was determined, therefore, for the New York and North Shore Railway Company to assume the name "Long Island Electric Railway Company

Stock. The Company's capital stock was fixed, in the original consolidation agreement, at $2,100,000, of which $1,500,000 was to go to the holders of the stock of the original New York and North Shore Railway Company. When the property and franchises acquired from the latter company were lost under foreclosure proceedings in 1902, this Company in its last report prior to its change of name, stated that this $1,500,000 had been wiped out by the foreclosure. In a report made following the change of name, the outstanding capital stock is given as $600,000, of which $60,000 had been issued for cash, and $540,000 on account of construction.

By resolution of the Company's board of directors, passed June 16, 1908, and in accordance with the consent of all of the stockholders, given at various dates in the early part of 1909, the Company applied to the Public Service Commission for the First District for authority to reduce its capital stock from $2,100,000 to $600,000. August 27, 1909, the Public Service Commission issued an order approving the application for the reduction of stock. The funded debt of the Company in 1909 was $600,000.

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