The Mayor, Aldermen and Commonalty of the City of New York, Respondent v. the Manhattan Railway Company, Appellant

Summary

The Court reversed the lower court's judgment and ordered a new trial, holding that the defendant must continue to pay five percent of net income on the Ninth Avenue line, but finding no statutory authority for such a payment on the Third Avenue line. The decision also affirmed that the defendant waived the constitutional defect of the 1868 act by its conduct. A dissent argued that the waiver should apply to the Third Avenue line as well.