Page:United States Statutes at Large Volume 29.djvu/349

 FIFTY-FOURTH CONGRESS.Sess. I. Ch. 395. 1896. 319 estate and franchises of said railroad, as well as the line of said railroad now existing and such additions thereto at any time made, located, extended, or constructed: And provided, That said Eckington and “Q“{§1f;{*£“¢ °*°°k· Soldiers’ Home Railway Company shall not have its stock and bonds " ` outstanding at any one time to a greater amount than the actual cost of the construction and equipment of said railway, which actual cost shall be ascertained by the supreme court of the District of Columbia in such manner as the said court shall prescribe. Sec. 4. That the Belt Railway Company of the District of Columbia §¤1¤‘}j¤•>· um _ bc, and the same hereby is, authorized to lay down and operate a double- °° °m °x °°°°' track railway, with the necessary switches and turn-outs, in the city of Washington, District of Columbia, through and along the followingnamed streets and avenues, to wit: · Beginning at Fourth and O streets northwest; thence north on Fourth Location. street west to Florida avenue; thence north crossing Florida avenue to Harewood street; thence along Harewood street to Elm street; thence west along Elm street to Linden street; thence north on Linden street to Pomeroy street; thence west on Pomeroy street to the east building line of Seventh street west extended. Also beginning at the present terminus of the Belt Railway on Water $1,*,;*;**3**: ¤¤*¤¤·*°¤· street, near N street south; thence south along Water street to P street ° ° ’ south by an extension of the present tracks of the Belt Railway; thence by further extension of said tracks east along P street south to Delaware avenue: Provided, That if there is not sufficient room for two {,’*·>¤{:<=- tracks on Water street without cncroaching on tracks already there, M °`· that the said Belt Line Railway Company shall purchase, at its own cost, sufficient ground to open Water street from the terminus of its line as now located along said projected route to P street. _ Sec. 5. That the construction of the extensions hereby authorized C°‘“¥"°"°“· shall be completed within one year after the approval of this Act: Pro-. {,”;g$§·;';;,ns vom for vided, That in case any one or more of the said extensions shall not be extensions uncomcompleted and operated regularly within the time specified, then so much *’1°‘°°‘ of this Act as authorizes such uncompleted extensions shall be void and of no effect. Sec. 6. That said Belt Railway Company is authorized to increase its gift *;;*;,6 gmk or capital stock or to issue bonds for such amounts as may be necessary to tsnagrns msnsisn. pay the actual cost of constructing and equipping the several extensions _ hereinbefore authorized: Provided, That the question as to the amount {QQ3Q;,';;; to be provided for in connection with each extension and the method of providing for the same, whether by issuance of stocks or bonds, shall be decided by a majority in value of the stockholders at a meeting to be called for the purpose after reasonable notice; and authority is hereby conferred upon said company, in case of issuance of bonds, to make due conveyance of its corporate franchises and property for the purpose of securing the same: Provided, however, That any such conveyance by P"""*°°" °’"““· way of mortgage shall be subject to the prior lien already created by deed of trust dated July thirty-first, eighteen hundred and ninety-one, and recorded in liber sixteen hundred and six, folios one hundred and ninety- seven and following, of the land records of the District of Columbia, which conveys all the real estate and franchises of said railroad as well as the line of said railroad now existing and such additions thereto at _ any time made, located, extended, or constructed: And provided, That e,Q“f§‘,'§}‘g§(}f‘g ’*°°k· said Belt Railway Company shall not have its stock and bonds outstand- ’ ing at any one time to a greater amount than the actual cost of the construction and equipment of said railway, which actual cost shall be ascertained by the supreme court of the District of Columbia in such manner as the said court shall prescribe. Sec. T. That such extensions of said railroads and each of them shall G““’°· *"°· be constructed on such grade and in such manner as shall be approved . by the Commissioners of the District of Columbia. Sec. 8. That it shall be lawful for said railway companies and each E¤·=¤V¤¤¤¤¤·¤*<=· of them, their and each of their successors or assigns, to make all needful and convenient trenches and excavations in any of said streets or places