CONDITIONAL TITLE TO ROLLING STOCK. under a railroad mortgage, whether such trustee is in possession of the railroad or not, and appoint a new trustee in his stead, whether such trustee is elected as provided in said sections or not. 25 CONDITIONAL TITLE TO ROLLING STOCK. Acts of 1894, Chapter 326. An Act relating to certain Contracts for the Conditional Sale, Lease or Hire of Railroad and Street Railway Equipment and Rolling Stock, and providing for the Recording thereof. sale or lease of conditioned on SECTION 1. In any contract for the sale of railroad or street railway In contracts for rolling stock, it shall be lawful to agree that the title to the property sold rolling stock, or contracted to be sold, although possession thereof may be delivered title may be immediately, or at any time or times subsequently, shall not vest in the payment of price. purchaser until the purchase price shall be fully paid, or that the seller shall See P. S. 203, have and retain a lien thereon for the unpaid purchase money; and in any § 74. contract for the leasing or hiring of such property, it shall be lawful to stipulate for a conditional sale thereof at the termination of such contract, and that the rentals or amounts to be received under such contract may, as paid, be applied and treated as purchase money, and that the title to the property shall not vest in the lessee or bailee until the purchase price shall have been paid in full and until the terms of the contract shall have been fully performed, notwithstanding delivery to and possession by such lessee or bailee: provided, that no such contract hereafter made shall be valid as against any Proviso. subsequent attaching creditor or any subsequent bona fide purchaser for value and without notice, unless the same shall be evidenced by an instrument executed by the parties and duly acknowledged by the vendee or lessee or bailee, as the case may be, before some person authorized by law to take the acknowledgment of deeds, and in the same manner as deeds are acknowledged, and recorded in the office of the secretary of the Commonwealth; and unless each locomotive engine or car so sold, leased or hired, or contracted to be sold, leased or hired as aforesaid, shall have the name of the vendor, lessor or bailor plainly marked on each side thereof, followed by the word "owner", or " lessor ", or "bailor", as the case may be. SECTION 2. The contracts herein authorized shall be recorded by the Record of consecretary of the Commonwealth in a book of records to be kept for that pur- evidence of pose; and, on payment in full of the purchase money and the performance payment. of the terms and conditions stipulated in any such contract, a declaration in writing to that effect may be made by the vendor, lessor or bailor, or his or its assignee, which declaration may be made on the margin of the record of the contract, duly attested, or it may be made by a separate instrument, to be acknowledged by the vendor, lessor or bailor, or his or its assignee, and recorded as aforesaid; and for such services the secretary Fee. of the Commonwealth shall be entitled to a fee of five dollars for recording each of said contracts and each of said declarations, and a fee of one dollar for noting such declaration on the margin of the record. 66 tract, and tracts not SECTION 3. This act shall not be held to invalidate or affect in any way Existing conany contract heretofore made; and any contract heretofore made of the kind affected, etc. referred to in the first section hereof may, upon compliance with the provisions of this act, be recorded as herein provided. SECTION 4. The provisions of chapter one hundred and ninety-two of the Public Statutes, chapter three hundred and thirteen of the acts of the year eighteen hundred and eighty-four, and chapter four hundred and eleven of the acts of the year eighteen hundred and ninety-two, shall not apply to contracts herein provided for. [Approved April 28, 1894. Certain statutes not to apply. See P. S. 203, § 74. 26 INVESTMENTS. ELEVATED RAILWAYS. May hold real estate, etc., but 1871, 381, § 13. 1874, 29, § 10. REAL ESTATE, STOCKS, BONDS, ETC. SECTION 18. Every street railway company may purchase and hold not stocks, etc. such real and personal estate as may be necessary or convenient for the operation of its road; but no such company shall, directly or indirectly, subscribe for, take or hold stock or bonds of a street railway company organized under the general laws, unless specially authorized by the general court. Meigs system of elevated rail Provisos. ELEVATED RAILWAYS. Acts of 1890, Chapter 368. An Act to permit Railroad or Street Railway Companies to use the SECTION 1. Any railroad or street railway company, now or hereafter way authorized. Organized or operated under the laws of this Commonwealth, may build and use the Meigs system of elevated railway: provided, that each city and town, in which the tracks of said company or any part thereof are located, shall assent thereto; and said assent in the case of a city shall be by vote of a majority of all the members of the city council thereof, and in the case of a town by ballot, by a majority of the voters thereof present at a legal meeting duly warned and called for that purpose; and provided, also, that the location in the city of Boston shall have been first approved by the board of railroad commissioners; and also, provided, that no portion of this system shall be built upon any part of Boston common. Recovery of damages. Provisos. SECTION 2. The building or use of said railway in any public way shall be deemed a new servitude, for which the parties injured may recover damages in the manner provided by chapter one hundred and twelve of the Public Statutes, sections ninety-four to one hundred and twelve inclusive; and all the provisions of said chapter relative to security for damages shall be deemed to apply; and provided, also, that for the purposes of estimating such damages, the abutters on such ways shall be deemed to be the owners of the fee thereof to the centre of such way; and provided, also, that the bonds provided for in said chapter one hundred and twelve of the Public Statutes shall be approved by a justice of the superior court instead of by the county commissioners. SECTION 2. This act shall take effect upon its passage. [Approved June 3, 1890. Certificate to be filed before beginning to build. 1871, 381, § 6. 141 Mass. 196. Limit of time for building,etc. 1871, 381, § 12. CONSTRUCTION OF RAILWAY. SECTION 19. No street railway company shall begin to build its road until it has filed in the office of the secretary of the commonwealth a certificate, signed and sworn to by its president, treasurer, clerk, and a majority of its directors, stating that the amount of its capital stock has been unconditionally subscribed for by responsible parties, and that fifty per cent of the par value of each share thereof has been actually paid in cash. SECTION 20. If a street railway company does not build and put in operation some portion of its road within eighteen months after the date of its certificate of establishment, its corporate powers shall cease. [See page 26, Section 18.] Land for Pleasure Resorts. Acts of 1895, Chapter 316. An Act to authorize Street Railway Companies to acquire and hold May hold real estate for pleasure resorts. SECTION 1. Street railway companies may acquire, hold, equip and maintain real estate to be used for purposes of recreation and for pleasure resorts. Admission to the grounds of such pleasure resorts shall be free, subject to such restrictions as may be imposed by the mayor and aldermen of cities or the selectmen of towns in which said real estate may be situated : provided, however, that said companies shall not sell intoxicating liquors Proviso. nor allow the same to be sold on said premises. approve pur SECTION 2. No such real estate shall be acquired, nor after acquisition Board must shall the same or any part thereof be sold, without the approval of the chase or sale. board of railroad commissioners. and bonds. SECTION 3. Street railway companies may, with the consent of the board Issue of stock of railroad commissioners, increase their capital stock and issue bonds to the amount deemed reasonably necessary by said board, not exceeding one hundred thousand dollars in the case of any one railway company, for the purpose of acquiring, holding, equipping and maintaining real estate for the purposes mentioned in section one of this act. SECTION 4. This act shall not apply to the city of Boston. Boston excepted. CONSTRUCTION OF RAILWAY, ETC. 27 Extension of Railway. be extended. 121 Mass. 485. § 8. SECTION 21. The board of aldermen or the selectmen may, from Location may time to time, under such restrictions as they deem the interests of the 1874, 29, § 11. public may require, upon petition, authorize a street railway company See $7. whose charter has been duly accepted and whose tracks have been See 1887, 413, located and constructed, or its lessees and assigns, to extend the location of its tracks within their city or town, without entering upon or using the tracks of another street railway company; and such extended location shall be deemed to be the true location of the tracks of the company, if its acceptance thereof in writing is filed in the office of Acceptance. the clerk of the city or town within thirty days after receiving notice thereof. Before acting upon the petition, at least fourteen days' Notice. notice of the hearing shall be given to all parties interested, by publication in such newspapers as the board of aldermen or selectmen may determine, or otherwise. Alteration of Location. may be altered. 1871, 381, § 15. See 1887, 413, SECTION 22. The location and position of the tracks of any street railway company may be altered, upon application of a party inter- Cost, etc. ested, by the same authority and in the same manner as is provided 125 Mass. 516. in the preceding section for the location of an extension. Such alter- § 8. ation shall be made by the company within such time, and the expense thereof shall be borne by such party, as the board of aldermen or selectmen may determine. Revocation of Location. SECTION 23. The board of aldermen or the selectmen, at any time after the expiration of one year from the opening for use of a street railway in their city or town, and after notice published as provided in section twenty-one and a hearing, if in their judgment the interests of the public so require, may order that the location of any track shall be revoked; and the company shall thereupon remove the same in conformity with such order, and shall put the street in as good condition as it was in immediately before being occupied by said track. SECTION 24. If a company neglects to execute such order and to make such repairs after thirty days' notice thereof, the board of aldermen or selectmen may cause the same to be executed and made at the expense of the company, to be recovered in an action of tort. Disuse of Tracks. voluntary SECTION 25. If a street railway company voluntarily discontinues Consequence of the use of any part of its tracks for a period of six months, the streets disuse. or highways occupied thereby shall, upon the order of the board of 1571, 381, § 25. aldermen or selectmen, forthwith, at the expense of the company, be cleared of said tracks, and put in as good condition for public travel as they were in immediately before being so occupied. |