Frederick W. Whitridge, either as Receiver of the Third Avenue Railroad Company or as Receiver of the Forty-second Street, Manhattanville and St. Nicholas Avenue Railway Company and thence along said intersecting line in the original direction to its terminus. Hearings held October 28th, 30th, November 5th, 12th, 13th, 18th, 24th, 25th, December 1st, 3d, 7th, 11th, 19th, 22d and 24th. Yonkers Railroad Company - Union Railway Company of New York City. Through routes between New York city and Yonkers. Complaint Order No. 776. COMPLAINT OF NATHAN A. WARREN against YONKERS RAILROAD COMPANY AND LESLIE Complaint Order No. 776 (see form, note 1) issued October 10th. ANNUAL AND OTHER REPORTS AND INFORMATION REQUIRED TO BE FILED BY CORPORATIONS. FORM OF ANNUAL REPORTS OF STEAM RAILROAD CORPORATIONS. ORDER No. 612. June 26, 1908. Final Order No. 612. Extension Order No. 747. The Public Service Commission for the First District being authorized and required by section 46 of the Public Service Commissions Law to prescribe the form of the annual report required under said act to be made by railroad corporations subject to its jurisdiction, it is hereby Ordered, That the form for annual reports of all railroad corporations subject to the jurisdiction of the Commission, as that term is defined in section 2 of the Public Service Commissions Law, owning, controlling or operating any railroad on which steam is used as a motive power, for the year ending June 30, 1908, as the said form has been prepared by the chief statistician of the Commission based upon the classification of accounts prescribed by this Commission on the 31st day of December, 1907, be and the same is hereby approved and prescribed by the Public Service Commission for the First District as the form of annual report for the year ending June 30, 1908, required to be made and filed by every such railroad corporation with said Commission. And it is further Ordered, That the Secretary of this Commission serve upon each of the said railroad corporations on or before June 30, 1908, in the manner prescribed by law, a certified copy of this order and two copies of the form hereby prescribed. In the Matter of the ORDER No. 766. ANNUAL REPORT. Filing of Annual Reports by RAILROAD CORPO-MODIFYING FORM OF An order of the Commission, No. 612, having been made and filed herein on or about the 26th day of June, 1908, approving and prescribing a form of annual report to be filed by all railroad corporations subject to the jurisdiction of the Commission in accordance with the provisions of section 46 of the Public Service Commissions Law, and a certified copy of said order with two copies of the form therein prescribed having been duly served upon all such railroad corporations, and it appearing that certain modifications should be made in said form so prescribed, Now, on motion made and duly seconded, it is Resolved, That the form of annual report for railroad corporations within the jurisdiction of the Public Service Commission for the First District, as prescribed by Order No. 612 above mentioned, be, and the same hereby is, modified in accordance with the following schedule of modifications: SCHEDULE OF MODIFICATIONS. Page 4. Strike out the last sentence of the inquiry. Omit filling out the column headed Annual Salary Attached to the Office, June 30, 1908. Omit 3. Page 5. Page 10. and 23. Page 32. Page 33. Page 35. Page 36. Page 54. Pages 56 and 57. Page 59. Page 62 and Page 63. Page 67. Page 71. Inquiry No. 1. After the word "meeting" insert "for the election of directors." Strike out the entire page. Strike out the entire pages. " Add to inquiry No. 1 the words "and ordinary surety bonds and undertakings on appeals in court proceedings." Add to inquiry No. 2 "nor does it include ordinary surety bonds or undertakings on appeals in court proceedings." Strike out the entire page. At the conclusion of the inquiry strike out the words "and an esti- Omit the column headed "Minimum Number in Service During the In the second column heading strike out the words "in service" and Omit at the conclusions of the inquiries on these two pages the words "and estimates of the distribution in accordance with such classification should be shown." Omit the entire page. Omit the requirement for the schedule "Distribution of Joint Facilities Credits" on the lower half of this page. Page 76. Omit the requirement for "Distribution of Joint Facilities Debits." Page 77. Page 78. Page 81. The three columns headed respectively Miles, Days and Other Units under the heading Total Number of Units of Service are to show the total amount of service rendered by the hired equipment of the class indicated in accordance with the contract under which the hire accrues: that is to say, if the basis of accrual is the number of miles, that shall be shown in the column headed Miles; if the basis is the number of days, it is to be shown in the column headed Days. If the basis of accrual is something other than miles and days, the amount is to be shown in the column headed Other Units. and the name of the unit is to be written in the space provided for it. In case of two or more classes of units besides miles and days, the matter should be explained in the space provided at the bottom of the page. Omit for the present year the two columns Rate of Rent Per Month and Number of Months Occupied. In the first line substitute for the words "were in force at any time" the words " became effective." The column "Number of Payrolls, June 30" should read "Number on Payrolls, June 30." Where the payroll accounts of the respondent do not show to a sufficient extent the characters of the contracts under which the pay accrues to enable the matter to be shown as called for on page 92, that fact should be stated and the columns headed Basis B may be disregarded; and, in the columns headed Basis A, under "amount of service" may be shown the total number of days worked as called for by the Interstate Commerce Commission, and under the "total compensation may be shown the total yearly compensation as called for by the Interstate Commerce Commission. In the column headed Average Rate of Compensation may be shown the "average daily compensation" as called for by the Interstate Commerce Commission. In the third line of the inquiry at the head of the page the words "or of new equipment may be stricken out. Orders extending the time within which certain railroad corporations should file their annual reports in compliance with Public Service Commissions Law, section 46, were issued in substantially the following form, to which reference as hereinbelow indicated: (Blank Form.) In the Matter of the No. Filing of Annual Reports by RAILROAD COR- EXTENSION ORDER An order of the Commission, No. 612, having been made herein on or about the 26th day of June, 1908, approving and prescribing a form of annual report to be filed by all railroad corporations subject to the jurisdiction of the Commission in accordance with the provisions of section 46 of the Public Service Commissions Law, and applications in writing having been received from certain of such corporations requesting an extension of the time prescribed in the section above mentioned, Now, on motion made and duly seconded, it is Resolved, That the time within which the railroad companies below mentioned shall file their annual reports in compliance with section 46 of the Public Service Commissions Law be and the same hereby is extended to and including the 1908. day of Upon written applications of the following named companies the time within which the annual reports of the said companies should be filed was extended as herein before indicated: Extension order No. 747 (see blank form) issued September 30, 1908, extended the time of the following named companies to and including October 15, 1908: Glendale and East River Railroad Company; Jamaica and South Shore Railroad Company: New York, Brooklyn and Manhattan Beach Railroad Company; Extension Order No. 747-A (see blank form) issued October 20, 1908, extended the time of the following named companies to an including October 31, 1908: Staten Island Railway Company; Staten Island Rapid Transit Railway Company. Extension Order No. 747-B (see blank form) issued October 23, 1908, extended the time of the following named company to and including November 1, 1908: New York and Rockaway Beach Railway Company. Brooklyn City and Newtown Railroad Company.-Amending annual report. Hearing Order No. 598. Opinion of Commissioner Bassett. In the Matter of the Hearing on motion of the Commission as to amending the annual report of the BROOKLYN CITY & NEWTOWN RAILROAD COMPANY. HEARING ORDER No. 598. It is hereby ordered, That a hearing be had on the 9th day of September, 1908, at 2:30 o'clock in the afternoon, or at any time or times to which the same may be adjourned, at the rooms of the Commission, No. 154 Nassau street, borough of Manhattan, City and State of New York, to inquire and determine whether the asset in the balance sheet of the report of the Brooklyn City and Newtown Railroad Company for the year ended June 30, 1907, designated as "Lease to Coney Island & Brooklyn Railroad Company, $923,400," is an improper asset and ought to be eliminated from the report of the company, together with the corresponding credit to capital stock outstanding: To the end that the Commission may make such order or orders in the premises as shall be just and reasonable. Further ordered, That the said Brooklyn City & Newtown Railroad Company be given at least eight (8) days' notice of such hearing by service upon it, either personally or by mail, of a certified copy of this order, and that at such hearing said company be afforded all reasonable opportunity for presenting evidence and examining and cross-examining witnesses as to the matters hereinbefore set forth. Hearing held September 9th. COMMISSIONER BASSETT :— OPINION OF COMMISSION. On June 30th, 1897, the Brooklyn City & Newtown Railroad Company had $1,000,000 capital stock issued and outstanding out of an authorized capital of $2,000,000. On or about August 4th, 1897, the company in pursuance of an agreement made with certain stockholders of the Coney Island & Brooklyn Railroad Company delivered to them or to some one for them its certificates for $923,400, the intention being that the consideration to be received by it should be $923,400 of the Coney Island & Brooklyn Railroad Company's stock. The stockholders of the Coney Island & Brooklyn Railroad Company, however either never delivered that stock to the Brooklyn City & Newtown Railroad Company, or else took it back immediately after its delivery. The new stock of the Brooklyn City & Newtown Railroad Company therefore was put out without consideration and hence was not legally issued. As between the Brooklyn City & Newtown Railroad Company and those who took the certificates the transaction was invalid. The Brooklyn City & Newtown Railroad Company, however, had already charged its investment account with stock of the other company $923,400, and credited its capital stock account with the new issue of its own stock to the amount of $923,400. Inasmuch as the transaction was never completed and the stock of the Brooklyn City & Newtown Railroad Company was never legally issued, this entry should have been elided from its accounts, or counter-entries should have been made charging capital stock account to stock never issued, $923,400; credit investment account by Coney Island Brooklyn Railroad Company stock never received, $923,400. This would have wiped out the matter and the books of the Brooklyn City & Newtown Railroad Company would have harmonized with the facts. It would not have required the filing of a new certificate to decrease the capital stock unless other reasons should in the opinion of its counsel have rendered this course desirable. The moment before the new issue was attempted to be made the Brooklyn City & Newtown Railroad Company had $1,000,000 stock issued and outstanding out of an authorized capitalization of $2,000,000, and it is plain that if the new issue was illegal and ineffectual this exact position remained. Instead, however, of eliding the entries or making the proper counter-entries the Brooklyn City & Newtown Railroad Company transferred this sum by charging it to a lease account. At the same time it closed the investment by making a credit to that account of Coney Island & Brooklyn Railroad Company stock $923,400. This effectually took the Coney Island & Brooklyn Railroad Company stock out of its investments, which was right, for it never belonged there. It left, however, a charge under its lease account of a lease of the Coney Island & Brooklyn Railroad of $923,400, which was incorrect because the lease had never cost that sum. It also left its capital stock account credited with the new issue, $923,400, which in point of fact was never issued. This error has been perpetuated in many annual reports. The reports of the company should be according to the facts. This will be accomplished by striking off the ledger on one side the lease item of $923,400 and off the other the stock never legally issued of equal amount.. Or if done by making counter-entries the capital stock account should be charged with stock never legally issued, $923,400 and the lease account should be credited with the same sum. The company may then reduce its capital stock or not as it may be advised by counsel. An order should be made permitting these entries. Thereupon the following final order was issued: FINAL ORDER No. 726. September 22, 1908. This matter coming on upon the report of the hearing had herein on the 9th day of September, 1908, and it appearing that said hearing was had pursuant to Order No. 598 of this Commission, dated June 24, 1908, issued upon motion of the Commission and returnable on the 9th day of September, 1908; and it appearing that said order was duly served upon said Brooklyn City and Newtown Railroad Company and that said service was by said company duly acknowledged: and it appearing that said hearing was had by and before the Commission on said 9th day of September, 1908, before Mr. Commissioner Bassett, presiding, Harry M. Chamberlain, Esq., Assistant Counsel, appearing for the Commission, and Messrs. Dyckman, Oeland and Kuhn, attorneys, appearing for said railroad company; and testimony having been taken upon said hearing; and it having been made to appear after the proceedings on said hearing that the annual report of said Brooklyn City and Newtown Railroad Company for the year ending June 30, 1907, is defective and erroneous in that the asset in the balance sheet of the report of said company for said year, designated as "Lease to Coney Island and Brooklyn Railroad Company, $923,400," is an improper asset and ought to be eliminated from the report of said company and that the corresponding credit to capital stock outstanding is an improper credit and ought to be eliminated from said report; and that the ledger of said company should be modified accordingly, Now, on motion of George S. Coleman, Esq., Counsel to the Commission, it is Ordered, That said Brooklyn City and Newtown Railroad Company be and it hereby is directed and required to amend and modify said annual report, (1) By striking off the debit side thereof the lease item of $923,400 and off the credit side the corresponding credit of equal amount to capital stock outstanding, or |