Page:United States Statutes at Large Volume 26.djvu/324

 270 FIFTY-FIRST CONGRESS. Sess. I. Ch. 669. 1890. State within which the same is located, real and personal property M<>¤s¤8*>· M and rights of property, and may mortgage, encumber, charge, pledge, grant, lease, sel, assign, and convey the same. And to aid in the construction of said bridge and approaches thereto, and railroad terminals, appurtenances, and wor s connected therewith, and to carry out the purposes of this act, the said North River Bridge diegging B<£¤¤¤‘¤¤> Company is hereby authorized to issue its bonds and secure the °”same by mortgage on its property and rights of property of all kinds and descriptions, and its franchise to be a corporation. And gener- _ee¤em1¤¤.1 special ally and s cially, for the full carrying out of the purposes and in- "gm "“"1*’°“`°”‘ tentions olxthis act, the said Nibrth River Bridge Company, and its successors, shall have and possess all such rights and powers to enter upon lands, and for the purchase, acquisition, condemnation, appropriation, occupation, possession, and use of real estate and other property, and for the location, construction, operation, and maintenance of said bridge with its ap roaches, terminals, and use by other pe¤- appurtenances as are ossessed by railroad) or bridge companies in ‘°‘“ md °°“""‘“‘°“‘ the States of New Yorgz and New Jersey, respectively. That all persons, railroad and telegra h companies, respectively, desiring to use said bridge shall have and, be entitled to equal rights and privileges in the passage over and the use of the same, and the approaches compemmsonr thereto, for a reasonable compensation, to be approved by the Interstate Commerce Commission as hereinafter determined, and to be paid to the North River Bridge Company, which is hereby duly grxgcilgv  empowered to collect the same. And sufficient trackage and termi- ° “Pm nal facilities shall be provided for all railroads desiring to use said U*iS¤*i°¤· bridge and appurtenances. In case an litigation arises out of the construction, use, or operation of said bridge or approaches thereto and railroad thereon, or for the condemnation or the appropriation of property in connection therewith under this act, the cause so arisin sha l be heard and tried before the circuit court of the United States for the judicial district in which the bridge or one of the ap- G<>¤d•>;¤¤¤ww.¤¢¤-, preaches is located. Applications for condemnation or appropriap"°°°°mg°` tion of property shall be made in the circuit court of the United States for the istrict in which such property is situated upon the petition of said company, and the hearing and trial of all other proceedings thereon shall conform as nearly as may be to the dpractice in the courts of the State in which such district is situate in the case of condemnation or appro riation of roperty for railroads. mL¤{_;<;*¤gg;\j11g?S;}ig*é Sec. 5. That the Interstate Commerce Commission is hereby anmay mqusmon com- thorized to require the said North River Bridge Company, in addi- §f;Q,‘Q,‘3i,‘,;‘f,§é§m°“‘ °' tion to such reports as it mayllawfully require of railroad comréanies, a statement certified to by the president of said North River ridge Com >any of the actual cash expenditure for all property acquired and ior the cost of construction of all structures and appurtenances, for equipment and for other proper and legitimate expenses incurred under this act ; said statement shall be made on the completion of all the work and before the said North River Bridge Company vermcapcn. etctor shall collect tolls from the connecting railroad companies. The In- °°°°°m y°“°°"°‘ terstate Commerce Commission shal be authorized to employ, at the expense of said North River Bridge Company, such expert ac- _ countants as it may appoint and direct to examine the accounts of said North River Bridge Company for the purpose of verifying the said actual cash expenditures under this act. And the said ascer- ,O§**§_Q*gg!f;gl£*¤’I_§d?€ tained cash expenditures shall form the basis on which the Intermsammpma. state Commerce Commission shall approve the toll charges to be paid by the connecting railroad companies to said North River ridge Company for the use of said bridge, approaches, tracks, and exing gt rgvgggs terminals in such manner that whenever the net revenue derived on mm} cashgexpeudi- from said toll charges, after paying all expenses for the proper and Q;j§;}g‘j’,j‘;‘fsQf§}{ safe operation and maintenance of its property, and after paying all gay reduce wu taxes, and after deducting live per centum of the gross revenue for