Page images
PDF
EPUB

railways, either in the city or the county, such vehicles shall give way to the cars or carriages of the railway, so as not unnecessarily to hinder or detain them.

Section 6. The said company is hereby authorized to purchase or lease the railway and rolling stock and any other property of the "River and Lake Shore City Railway Company,” in the city of Milwaukee, or any part thereof, with all its rights and privileges, and to have and use and operate and enjoy all such railway and property and rights and privileges so leased or purchased as fully to all intents as said “River and Lake Shore City Railway Company" could have, iise, operate and enjoy the same, or as the corporation hereby created is or may be authorized to have, use, operate and enjoy any railway or other property constructed or owned by such corporation, and any rights and privileges granted to and had and enjoyed by it.

Section . It shall be lawful for the corporation hereby created, to issue and dispose of its corporate bonds, bearing interest at the rate of seven per cent per annum, at such times and in such manner as the board of directors may from time to time determine, and to secure the same by a mortgage or mortgages, or trust deed or deeds of the company's railway and other property, or any part thereof, which mortgages or deeds, or any of them, may lawfully be made to cover and convey, as well railway and property proposed to be so constructed, operated and used by said company, as railway and property, at the time of making such mortgage or deed, actually constructed, operated and used by it: provided, that the whole amount of bonds actually issued and disposed of at any time, shall not exceed in the aggregate six thousand dollars for each mile of railway completed and operated by said company; and prorided, further, that the issuing of any such bonds to be so secured, shall be approved by the votes of stockholders of said company owning and holding three-fifthis in amount of the capital stock thereof, at a regular meeting of such stockholders, or at a special meeting called for that purpose, of which at least six days' notice shall be given by publication in some newspaper published in the city of Milwaukee.

Section 8. The said company is hereby authorized to negotiate and dispose of such bonds or any part thereof, from time to time, as sufficient of its railway shall be constructed, to authorize the same under the provisions of this act, to such persons or corporations, or other parties, on such terms and at such rates as may be agreed on, any law on the subject of usury to the contrary notwithstanding.

Section 9. This act shall take effect and be in force from and after its publication.

Approved March 28, 1865.

AN Act

Bonds.

To authorize the Milwaukee City Railway Company to

issue bonds.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

Section 1. The Milwaukee City Railway Company is hereby authorized and empowered to issue and dispose of its corporate bonds to an amount not exceeding fifty thousand dollars, bearing interest at such a rate and payable at such time and place as said company shall determine, and such bonds, and interest coupons attached thereto, shall be valid, anything in any law of this state on the subject of usury to the contrary notwithstanding; and said company is hereby authorized and empowered, for the purpose of securing the payment of such bonds, with the interest thereon, to make, execute and deliver a trust deed or a mortgage of its railways and other property used or connected therewith, in the city of Milwaukee, or any part of such railways and other property, and such trust deed or mortgage may lawfully be made to cover and convey any railway and other property used or connected therewith, to be constructed, owned and used by said company after the date of such trust deed or mortgage, as well as such railways and other property, as are then constructed, operated and used by said company; prorided, that the issue of such bonds shall be approved by the votes of stockholders owning and holding three-fourths in amount of the capital stock of said company.

Section 2. Said company is hereby authorized to nego. tiate and dispose of such bonds and of any part thereof, to such persons and parties, and on such terms, and at such rates as may be agreed on, anything in any law of this

state on the subject of usury to the contrary notwithstanding

Section 3. This act shall take effect and be in force from and after its publication.

Approved March 23, 1866.

AN ORDINANCE

To authorize the construction and operation of certain

horse railways in the city of Milwaukee.

The mayor and common council of the city of Milwaukee, do ordain as follows:

On streets on East,

Section 1. There is hereby given and granted to the West and South Milwaukee City Railway Company, and to its successors sides.

and assigns, the exclusive right, permission and authority to lay a single or double track for a railway, with all necessary and convenient tracks for turn-outs, side-tracks and switches, in and along the course of the streets and bridges, in the city of Milwaukee, hereinafter mentioned; and the same to keep, maintain, use and to operate thereon railway cars and carriages, in the manner and upon the conditions hereinafter prescribed, and for and during the full term of twenty-five years.

Section 2. The said company is hereby, as above mentioned, authorized to lay a single or a double track for such railways in and along the course of the following streets of the said city, and to extend the same as follows: Commencing at the east end of Chestnut street bridge, in the Seventh ward of said city, thence with a double track over and across said bridge to Chestnut street; thence westerly along Chestnut street to Third street; thence northerly along Third street to Walnut street; thence westerly along Walnut street to its intersection with Fond du Lac avenue; thence along Fond du Lac avenue to the present and future limits of the city. Also commencing at the intersection of East Water and Wisconsin streets, thence westerly along Wisconsin street to Spring street bridge; thence with a double track over and across said bridge to Spring street; thence westerly up and along Spring street to the present and future limits of the city. Also commencing at the intersection of East Water street and Huron street, thence westerly along Iluron street to Huron street bridge; thence over and across said bridge with a double track to Clybourn street; thence along Clybourn street to West Water street; thence southerly along West Water street to the Menomonee bridge; thence over and across said bridge with a double track to Reed street; thence southerly along Reed street, from South Water street a single track, to Florida street; thence westerly along Florida street to Greenbush street; thence southerly along Hanover street to Elizabeth street; thence westerly along Elizabeth street to Cook street; thence to the city limits, at or near the Forest Home Cemetery, in such direction and through such streets as said company may elect.

Section 3. The said company shall commence the several lines of road mentioned in the preceding section, and shall complete and operate at least one continuous mile on each of said three routes within one year from the first day of June, A. D., 1865, and the balance of each of said lines shall be completed and operated within two years from said date; and upon the failure to complete and operate the said roads, and each of them, within the time above limited, then all rights hereby granted and vested in said company, under this ordinance, shall cease and determine, so far as affects the route so not completed and operated; provided, however, that if said company is delayed by the order or injunction of any court of record, obtained or continued without the procurement or collusion of the said company, or any officer thereof, from completing said routes, or either of them, within the time herein limited, then the time of such delay shall be excluded, and the same time, in addition to the periods above prescribed, shall be allowed for the completion of said railway, or such of said routes as may be so enjoined.

Section 4. The cars to be used upon said tracks shall be operated with animal power only, and said railways shall not connect with any other railroad on which other power is used, and no railway car or carriage used upon any other railroad in this state, except such as may be used on other horse railways in this city, shall be used or passed upon said track.

Section 5. The said tracks and railways shall be used for no other purpose than to transport passengers and their ordinary baggage, and the cars or carriages used for that purpose shall be of the best style and class in use on such railways. The common council shall have power, at all times, to make such regulations, as to the rate of speed and time of running said cars or carriages, as the public safety or convenience may require.

Section 6. The track of said railway shall not be elevated above the surface of the street, shall be laid with modern improved rails, and shall be so laid that carriages and other vehicles can easily and freely cross said streets at any and all points, and in any and all directions, without obstructing. The said company shall keep so much of any street used and occupied by them in operating said railways, in good repair and condition, during the term hereby granted, in accordance with whatever order or regulations may be passed or adopted in that behalf by the common council of the said city, or the street commissioners of the respective wards, and shall indemnify and save harmless the said city of Milwaukee from any and all loss or damage which it may incur, or become liable to pay by reason of the malfeasance or nonfeasance of said company or its officers, in respect to the duties and conditions conferred by this ordinance.

Section 7. The rate of fare for any distance shall nor exceed five cents, except when cars or carriages shall be chartered for a specific purpose, but before any car or carriage shall be used or operated on said routes of railway, or either of them, said company shall pay to the said city a license fee of ten dollars per annum for each car or carriage; said license fee to be paid, and a license for such car or carriage to be obtained in the same manner as regulated by ordinance respecting hacks in said city, and any officer, conductor, driver or agent of said company, its successors or assigns, who shall operate, or cause to be driven or operated, upon either of said lines of railway, any car or carriage, unless the same shall have first been duly licensed, as herein provided, shall be punished by fine not less than ten, nor more than fifty dollars.

Section 8. The railroad tracks across the several bridges, herein authorized, shall be laid in such manner as the superintendent of bridges may direct. All conductors, drivers and employes of said company, and every person having the charge and custody of any car or train belonging to or used by, or on the roads of said company, shall obey the orders and directions of the superintendent of

« PreviousContinue »