improvements in the New York District when fully completed is based on the best information now available:

New York Tunnel Extension and Station, in-
cluding Interchange Yards at Harrison,
N. J., and Sunnyside, L. I., P. T. & T.
R. R. Co $100 000 000

Long Island Railroad electrification, Bay
Ridge and Atlantic Avenue improve-
ments, Glendale Cut-Off, freight yards,
and new equipment 35 000 000

New York Connecting Railroad, to be built
jointly by the Pennsylvania R. R. Co.
and the New York, New Haven and
Hartford R. R. Co., about 14 000 000

Pennsylvania Railroad improvements in the
State of New Jersey, electrification of
line from Jersey City to Park Place,
Newark, Oreenville freight line and ter-
minal on New York Bay 10 000 000

Total $150 000 000

Corporate Organization And Franchise Conditions.

As the tunnel extension lies partly in the State of New Jersey and partly in the State of New York, it was necessary to charter two companies, each covering the territory within the State to which it belonged. The New Jersey corporation was entitled the Pennsylvania, New Jersey and New York Railroad Company, and the New York corporation, the Pennsylvania, New York and Long Island Railroad Company. These organizations were completed early in 1902. Subsequently, after the tunnels had been joined under the North River, the companies were consolidated, on June 26th, 1907, and thereby formed the present company under the name of the Pennsylvania Tunnel and Terminal Railroad Company, a corporation of both States.

Mr. Cassatt, President of the Pennsylvania, New York and Long Island Railroad Company, made application in its behalf for a franchise to extend the lines of the Pennsylvania Railroad by tunnels tinder the North River to a passenger station to be erected in New York City and thence under the East River to a connection with the Long Island Railroad, on May 5th, 1902.

The franchise for that part of the tunnel line which is within the State of New York, that is, from the boundary line between New York and New Jersey, in the Hudson River, to the eastern terminus at Sunnyside Yard, Long Island, is contained in the certificate issued by the Board of Rapid Transit Railroad Commissioners of the City of New York on October 9th, 1902.

The essential features of the franchise have been summarized substantially as follows in the report of the Committee of the Board of Rapid Transit Railroad Commissioners of the City of New York, dated June 14th, 1902:

First.—A grant by the city in perpetuity of rights, subject, however, to a periodic readjustment of payments at intervals of twenty-five years, as follows:

(a) To construct and operate a railroad of two tracks from the boundary between New York and New Jersey under the Hudson River opposite the westerly foot of Thirty-first Street, Borough of Manhattan, thence running under the Hudson River and Thirty-first Street to the East River and under the East River to a terminus in Queens Borough. The Company is permitted on notice within ten years to give up the right to these two tracks.

(6) A like right for a railroad of two tracks beginning near the same point under the Hudson River, thence running under Thirty-second Street to the East River, and under that river to the* terminus in Queens Borough, with a right for two additional tracks in Thirty-second Street, west of Ninth Avenue, and one additional track between Seventh and Fifth Avenues in Manhattan.

(c) A like right for a railroad of two tracks beginning at the station terminal site at Thirty-third Street and Seventh Avenue and thence running under Thirty-third Street and the East River to the terminal in Queens Borough, with a right for one additional track on Thirty-third Street, between Seventh and Fifth Avenues.

(/I) A right to maintain a terminal station occupying the four blocks bounded by Thirty-first Street, Seventh Avenue, Thirtythird Street and Ninth Avenue, the lots on the east side of Seventh Avenue between Thirty-first and Thirty-third Streets, and the underground portions of Thirty-first and Thirty-third Streets, between Seventh and Eighth Avenues and between Eighth and Ninth Avenues, the Company having itself acquired the land included in such four blocks and lots on the east side of Seventh Avenue,

(e) To occupy for such terminal facilities all of Thirty-second Street lying between the westerly side of Seventh Avenue and the easterly side of Eighth Avenue, and between the westerly side of Eighth Avenue and the easterly side of Ninth Avenue. As soon as the statutory right of the city authorities to make the conveyance shall be put beyond doubt the Railroad Company is obliged to buy such two portions of Thirty-second Street, which will then become completely dedicated to the purposes of their station. (These portions of Thirty-second Street were subsequently purchased by the Railroad Company.)

(f) To have along such routes the necessary facilities for the operation of passenger and freight trains, including telegraph wires and the various wires and cables for the distribution of power, heat, and light.

Second.—The requirement of the consent of the Mayor, the Board of Aldermen, the Board of Estimate and Apportionment, and the other authorities of the city having control of the streets.

Third.-—The obligation of the Pennsylvania Company to begin construction within three months after obtaining the necessary consents and complete the railroad within five years after construction shall begin, except the route under Thirty-first Street, for the completion of which the company is allowed ten years after the completion of the remainder of the railroad.

Fourth.—Payments by the Pennsylvania Company for the first twenty-five years, as follows: A rental of $200 per annum for the right to occupy land under the Hudson and East Rivers outside of pier lines. A rental for ground within pier lines and for underground portions of streets in Manhattan Borough, at fifty cents per linear foot of single track per annum, for the first ten years, and during the next fifteen years one dollar per annum per linear foot. A rental for ground within pier lines and for underground portions of streets in Queens Borough 'at one-half the rates payable for Manhattan Borough. A rental for underground portions of Thirty-first and Thirty-third Streets, between Seventh and Eighth Avenues, and between Eighth and Ninth Avenues (such portions extending almost up to the surface, except under the south sidewalk of Thirty-first Street and north sidewalk of Thirty-third Street) at $14 000 per annum for the first ten years, and at $28 000 per annum for the next fifteen years.

For the portions of Thirty-second Street, between Seventh and Eighth Avenues, and between Eighth and Ninth Avenues, when the statutory power of the city to make a sale shall be put beyond doubt. the city is to sell and the Railroad Company is'required to buy such portions for the sum of $788 600. The rentals for river and track rights begin at the date of operation. For the underground spaces under Thirty-first and Thirty-third Streets, used for station extension, the rentals begin at the commencement of construction, or when the company entered thereon.

Such annual payments may be summarized as follows:

Fur river rights

For tunnel rights in Manhattan Borough, being 44 311 ft. (partly

estimated) of single track

For tunnel rights in Queens Borough, being 8 100 ft. (partly esti

mated) of single track

For street rights on Thirty-first and Thirty-third Slreets, north

and south of terminal

In all, per annum

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If the route under Thirty-first Street be availed of, these amounts will be increased by $16 652.50 for the first ten years, and by $33 305 for the next fifteen years.

The amounts to be paid are to be readjusted at the end of twentyfive years; and thereafter at intervals of twenty-five years. If the city and the Railroad Company shall not agree upon the readjusted rates, they are to be determined by the Supreme Court of this State.

Fifth.—The railroad to be entirely in tunnel except where it approaches the surface at its eastern terminal near Thomson Avenue, in Queens Borough. The uppermost part of the tunnel is to be at least nineteen feet below the surface of the street; but this limitation does not apply to the portions of Thirty-first and Thirty-third Streets opposite the terminal station between Seventh and Ninth Avenues, where the Company may occupy the underground portions of the street under the roadway to within thirty inches of the surface, and under the sidewalks on Thirty-first and Thirty-third Streets opposite to the station to within five feet of the surface, the company to properly care" for sewers, water, gas and other pipes and underground structures lawfully in the street.

Sixth.—The company to make good all damage done to property of the city by its construction work or operations, and to abutting owners all damage done through any fault or negligence of the company, or of any contractor or sub-contractor engaged upon its work of construction or operation. The Tunnel Company to keep Thirty-first and Thirty-third Streets opposite the station well paved with smooth pavement and in thoroughly good onndition.

Seventh.—Tunnel excavations to be done without disturbing the surface of the street, except in the portions of Thirty-first and Thirtythird Streets, and Seventh, Eighth and Ninth Avenues in front of the terminal station, and except in Queens Borough, with the power to the Rapid Transit Board, wherever conditions elsewhere make surface excavation necessary for efficient construction, to grant the right for such excavation, subject to conditions to be then prescribed by the Board. The tracks are to be constructed of the most approved plan so as to avoid noise or tremor. All plans for, and the method of doing, the work are made subject to the approval of the Rapid Transit Board.

Eighth.—The motive power to be electricity, or such other power not involving combustion as may be approved by the Board.

Ninth.—The company to have no power to carry on merely local traffic, except with the approval of the Board and for additional consideration to be paid the city. Traffic is defined as local which begins and ends in the city within five miles of the terminal station on Seventh and Ninth Avenues.

Tenth.—The railroad to be diligently and skillfully operated, with due regard to the convenience of the traveling public.

Eleventh.—The city to have a lien upon the franchise and real property of the company to secure the payment of rental.

Twelfth.—The rights of the city to be enforceable by action for specific performance, or mandamus, or otherwise.

Thirteenth.—The company not to oppose the construction of any rapid transit railroad along or across the same routes which do not actually interfere with the authorized structures of the company.

Fourteenth.—The city to have an ample right of inspection of the railroad, and to enter upon it for examination, supervision, or care of city property, or for other purposes.

Fifteenth.—The company to be bound to maintain and strengthen all parts of its railways under streets or avenues so that the same shall support safely any structures superimposed or which may hereafter be superimposed thereon by the city or under public authority.

Sixteenth.—The company to have the right to convey or mortgage the franchise, but every grantee, whether directly or under a mortgage, to assume the obligations already assumed by the Railroad Company and the Railroad Company not to be relieved of such obligations by the grant.

This franchise was passed by the Board of Aldermen on December 16th and approved by the Mayor on December 23d, 1902.

Subsequently, an agreement, dated June 21st, 1907, was entered into by the City of New York, the Tunnel Company, and the Long Island Railroad Company covering the construction of the Sunnyside Yard, which forms the eastern terminus of the line.

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