. The street railway review . prises all the elevatedroads on Manhattan Island and the Suburban Railroad north of theHarlem River, includes a total length of track of niiles. Thisis divided into four main north and south lines situated on Sixth and Ninth avenues. The company was incorporatedXov. 24. 1875. previously to which the Metropolitan Elevated Rail-way (Sixth Ave.) had been organized June 17, 1S72. and the NewYork Elevated Railroad (Ninth Ave.) Jan. 2, 1872, the latter beingthe successor to the West Side Elevated Railroad, which was soldunder foreclosure. The Metrop
. The street railway review . prises all the elevatedroads on Manhattan Island and the Suburban Railroad north of theHarlem River, includes a total length of track of niiles. Thisis divided into four main north and south lines situated on Sixth and Ninth avenues. The company was incorporatedXov. 24. 1875. previously to which the Metropolitan Elevated Rail-way (Sixth Ave.) had been organized June 17, 1S72. and the NewYork Elevated Railroad (Ninth Ave.) Jan. 2, 1872, the latter beingthe successor to the West Side Elevated Railroad, which was soldunder foreclosure. The Metropolitan and the New York elevatedroads were both opened for operation in 1878. and on May 20, were both leased to the Manhattan company for a term of 999years. Under the first lease executed the Manhattan company agreed topay interest on the $10,818,000 6 per cent bonds of the MetropolitanElevated and on $8,500,000 7 per cent bonds of the New York Ele-vated. Besides this it was to pay an annual dividend rental at the. 1)I.\\.M OK .MANHATTAN KLEVATEIl LINKS. rate of 10 per cent im $13,000,000, equally divided between the twocompanies. The Manhattan company failed to comply with this lease and onJuly 14, 1881, it was put into the hands of receivers. A secondagreement was drawn up between these companies which, however,was declared illegal by the court, and finally by a third arrangementthe Manhattan company issued consolidated stock to the amount of$26,000,000 which was exchanged for outstanding stock, as follows: For $6,500,000 New York Elevated Railroad Co. stock, $7,800,000consolidated stock; for $6,500,000 Metropolitan Elevated RailwayCo. stock, $7,150,000 consolidated stock; the balance, $11,050,000 con-solidated stock, to the holders of $13,000,000 Manhattan Railway stock. The Suburban Rapid Transit Co. was leased June 4,1891. In 1879, when the companies were consolidated, the east side linesextended from the Battery to 129th St. and Third Ave,, and from
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