The Street Surface Railway Franchises of New York City

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. . would have yielded to the city the cost of the road and left a large margin besides." Finally, all franchises of this character should be sold at public auction to the highest bidder, but inasmuch as the Forty-second Street Company appeared to have a franchise from the state legislature the common council was power- less in this instance to dispose of the grant in this way.
The report of the committee was adopted by a vote of fif- teen to seven, 3 and on December 27, 1878, the resolution em
...bodying the grant was passed over the mayor's veto.* 1 Proceedings of the Board of Aldermen, vol. 152, pp. 163-165.
2 City Record, vol. vi, pt iv, pp. 1758-1759. * Ibid., p. 1759.
4 Proceedings of the Board of Aldermen, vol. 152, pp. 771-773; Ordin- ances, Resolutions, &c. passed by the Common Council and approved by the Mayor, 1878, vol. xlvi, pp. 445-449.
1 5 1 J RAIL WA YS INCORPORA TED 1875-1884 j 5 1 This grant was delayed by litigation, and in 1884 the company petitioned for a franchise permitting a double- track line through Forty-second street to the East river and a similar line on First avenue from Forty-second to Thirty-fourth streets; also a line from Forty-second street through Seventh avenue to Broadway to Eighth avenue to the Boulevard to Manhattan street.


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