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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Dec 17, 1908
Page
16
City of New York sets terms for a 3500 dollar security fund to guarantee street, bridge, and railway work. If terms are violated the city may dock from the fund or sue for penalties, with notices and procedures outlined for enforcement and restoration of funds.
Public notices filed by the Board of Estimate and Apportionment reveal a hearing on the Union Railway Company of New York City for a street railway franchise along Pelham Avenue from Third Avenue to the Bronx. The notice details inquiry into franchise value, compensation, and contract terms, with hearings set for December 18 1908 and a formal contract to be prepared by city officials.
City agrees to grant the Company rights to construct operate and maintain a street railway on Third Avenue Pelham Avenue to Southern Boulevard in The Bronx Newark area with a 15 year term plus 20 year renewal subject to consent of property owners legal actions and Board approval. Payment includes annual minimums and percentages of gross receipts plus upfront sums and annual city charges.
Public notice outlines extensive city oversight for a surface railway in The Bronx. It details pavement replacement at company expense, track protection during public works, subsurface and surface work costs, and adherence to water supply rules. It requires annual financial reports, maintenance standards, bond funds, penalties for defaults, and city-ownership options upon breach.
The Board of Estimate and Apportionment grants Bronx Traction Company a street surface railway franchise to extend a double track along Clason's Point Road from Westchester Avenue to Long Island Sound with conditions including property consents within six months and a renewal option of twenty years with revaluation and dispute resolution by appointed freeholders.
The document details appraisement procedures six months before contract expiry, the use of appraisers, and cost sharing. It sets minimum annual charges for a city grant to the Company, with staged percent-based payments tied to gross receipts. It notes property transfer on termination, renewal terms, and conditions for cross-usage of streets by other firms, plus construction timelines and penalties for noncompletion.
Detailed terms require company to follow city supervision, maintain tracks, pay for street paving, water streets, provide car fenders, and carry police and fire members free. Includes permits, alterations, reports, and annual financial disclosures to the Board.
The Board of Estimate and A llowment outlines the franchise grant terms for the Bronx Traction Company including rates, penalties, security funds, and enforcement procedures. Notice is given for a public hearing at City Hall on December 18 1908 with publication required in two daily newspapers.
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