Supreme Court of New York, General Term Pennsylvania Coal Co, Appellants, Against the Delaware and Hudson Canal Co, Respondents Arguments of to 43, Pages 104 to 158 February 14 and 15,
Language: English
Published by Forgotten Books, 2019
- Hardcover
- New
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Seller Inventory # LX-9780428867461
- Title
- Supreme Court of New York, General Term Pennsylvania Coal Co, Appellants, Against the Delaware and Hudson Canal Co, Respondents Arguments of to 43, Pages 104 to 158 February 14 and 15,
- Author
- New York Supreme Court
- Publisher
- Forgotten Books
- Publication year
- 2019
- Condition
- New
- Binding
- HRD
- Language
- English
- ISBN 10
- 0428867464
- ISBN 13
- 9780428867461
- Item weight
- 317 grams
The Pennsylvania Coal Co. Possesses also its own railway con meeting with the canal of the Delaware and Hudson Co., at a point about nine miles this side of the further terminus of that canal, and extending about 47 miles through the beautiful valley of the Wyoming, nearly down to Wilkesbarre, where its lands and its mines are, and from which it brings annually about tons of coal to this market.
The relations between these two companies arise in this manner The Delaware and Hudson Canal Co., having this canal, found that it had a capacity to pass boats upon it altogether exceeding its means of mining and transporting over its own road. The company, there fore, thought it would be highly expedient and profitable to bring this surplus capacity into use. The motives for that project are re cited in the preamble of a contract, which will be found on page 90, folio 152, of the plaintiff's case. This contract was formed originally with the Wyoming Coal Association, an incorporated body but in a short time, according to the provisions of the original agreement, by a new agreement, executed on the part of the Delaware and Hud son Co. And Pennsylvania Coal Co., the latter company became the successor of the Wyoming Coal Association, which it was entitled to become upon building this railway. The supplementary contract will be found at folio 190. There is no question that we are the rightful successors of the Wyoming Coal Association and this con tract, the construction of which is in question between us, Operates in our favor as if we were the original party to it.
This contract is a somewhat peculiar and remarkable one in this respect: that the theory of it has some analogy to that of a partner ship between these two great corporations. The rate of toll which the Delaware and Hudson Co. Was authorized by its charter to charge was something like $8 per ton. It was fixed in old times, when coal was very little used, and when the prices at which it sold were almost prohibitory it was in the infancy of the business, and, indeed, before the business could be said to be in existence at all. The Delaware and Hudson Co. Felt that in order to bring this surplus capital of their canal into available use, they must ofier terms for the use of their canal far below what they were authorized by their charter to demand. They recite that consideration in the preamble to this contract. They felt, further, that the contract into which they should enter must be of permanent duration, because no company could afford to build a railroad, worthless, except for the purpose of transporting coal to this canal, and becoming its tributary, unless they could be assured that the rate of toll which they would have to pay should be continual, and that they should be free from any addi tional imposition thereafter.
About the Publisher
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This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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