Page:United States Statutes at Large Volume 25.djvu/400

 354 FIFTIETH CONGRESS. Sess. I. Ch. 72-1. 1888. when, on account of the width of the street, or for other sufficient reason, it shall be deemed necessary by the Commissioners of the District , and the relative conditions of use and of chartered rights may be adjusted upon terms to be mutually agreed upon between the companies, or, in case of disagreement, by the supreme court of the District of Columbia, on petition filed therein by either party, and on such notice to the other party as the court may order. _ _ SEO. 5. That in the construction of the tracks here1n_ specified the attern of rail used shall be approved by the Commissioners of the _ District of Columbia, and in any extensive repairs to the tracks now owned by the company requiring new rails the pattern of rails shall likewise be a proved by the Commissioners of the District of Colum- {’g°’{fg°· me, wm, bia: Provided), That all rails laid upon the streets of the city of Washmeets. ington by said company under the authority of this act shall be on a level with the surface of the streets, and shall not project above the same. CMS- Sec. 6. That the com any shall place cars of the best construction on said railway, with-all) modern improvements necessary to the convenience and comfort of passengers, and shall run cars thereon as often as the public convenience may require, in accordance with a time-table or schedule adopted by the company. a copy of which shall be Bled with the Commissioners of the District of Columbia, and be approved b them. R°P°"”- Sho. 7. That the said Anacostia and Potomac River Railroad Company shall, on or before the fifteenth day of January of each year, make a report to Congress of the names of all the stockholders therein and the amount of stock held b * each, together with a detailed statement of the receipts and expenditures from whatever source and on whatever account, for the preceding year ending December the thirty- first, which report shall be verified by affidavit of the president and, secreta of said com any; and said company shall pay to the Dis- T¤>¤¤· trict ofrgolumbia, in lieu of taxes upon personal property, including cars, tracks, and motive power for the next ensuing year, two per centum for the first ten years after completion, and thereafter four per centum of its gross earnings upon traffic for the receding year as shown by said verified statement, which amount sliall be payable to the collector of taxes at the times and in the manner that other taxes are now due and payable, and subject to same penalties on arrears; and the franchise and property of said company, both real and personal, to a sufficient amount, may be seized and sold in satisfaction thereof, as now provided by law for the sale of other property for taxes; and said per centum 0 its gross earnings shall be m lieu of all other assessments of personal taxes upon its property used solely and exclusively in the operation and management of said railway. » Its real estate shall be taxed as other real estate in the District of P•’¢>¤·*•¤- Columbia, and the tracks shall not be taxed as real estate: Prmdded, B¤<1¤¤¢i<>¤ of f¤¤·· That whenever the net receipts of said company from its business upcn said road shall, for any years, exceed ten per centum of the actual cost of such road, then the company shall, under the direction of the said Commissioners, reduce the rate of passenger fare to an amount as near as the same can be approximated, so that the net recei ts of said company from its business upon such road shall not exceed) ten per centum olf the pctual cost for the construction. equipment, and maintenance t ereo . this act. Approved, August 1, 1888.
 * ""°"**'”°”'· Sec. 9. That Congress may at any time amend, alter, or repeal