The original act of Incorporation of the Cayuga Bridge Company was passed by Chapter 59 of the Laws of 1797, and the institution began its corporate life on March 28, 1797. Unlike other acts of Incorporation, the law reads, “That this act be and is hereby declared to be a public act, and shall be construed benignly and favorably for every beneficial purpose herein intended.”
This act contains many conditions among which was a corporate existence of 25 years.
There were no exclusive rights or privileges granted and the charter was to be forfeited unless the bridge was completed within three years. The company was given the right to select the location across the lake or the outlet. The importance of the bridge is appreciated to this day as the connecting link to Genesee County, and its rebuilding is now being recommended as a connection with the Cherry Valley Turnpike.
The building of the Cayuga Bridge was financed by some of the directors of the Manhattan Company of New York. This company of which Aaron Burr was a director was incorporated to construct and operate a water system for the city - and a clause in its charter also gave it authority to invest its surplus funds in financial transactions not inconsistent with the public interest.
The Bank of North America had been incorporated in 1781 and given a monopoly of the banking business in all the states for the duration of the war. After the war, the first bank incorporated in New York was the Bank of New York, chartered in 1791, and it is still doing business under the name of the Bank of New York & Trust Co. This bank was strictly an Alexander Hamilton bank.
The Manhattan Company, chartered in 1799, was the second bank, as the company began immediately to operate a banking business as well as a water company.
It opened its office at 40 Wall St. where it is still doing business as the Bank of Manhattan Company. In the history of banking, this company is known as “Burr's Bank.”
Comfort Tyler was the designer of the bridge, and Israel Smith was in charge of construction. Both of these men were connected with Aaron's Burr expedition in the Southwest and were arrested for conspiracy but not indicted.
Unable to complete the bridge within the statutory time, the company applied to the legislature for an extension of time and for a permit for increased capitalization and for exclusive privileges. Accordingly, by the act of March 1, 1799 Chapter 21, the corporate existence was extended to 75 years and the capital increased and May 1, 1801 was fixed for the date of completion.
Also, exclusive privileges were granted for the full term for ferries, bridges and boat crossings within three miles north and south of the bridge as then located but not completed.
At the time that the original charter was granted, John Harris (whose grandfather gave his name to Harrisburg, Pa.), perceiving the necessity of the crossing, was operating a ferry south of the bridge in company with his brother-in-law, James Bennett, who lived on the west shore of Cayuga Lake near the cobblestone house built by Julius Bull.
This public ferry was by law illegal, and John Harris joined the bridge company and became one of its original incorporators, the others being Charles Williamson, Thomas Morris (son of Robert Morris of Philadelphia), Wilhelmus Mynderse and Joseph Annin, who with Benjamin Barton was a surveyor for Charles Williamson and laid out the city of Geneva.
Joseph Annin later moved to Cayuga and was state senator from 1803 to 1807. The Annins are buried in the cemetery near the lake, south of Cayuga Village.
Ruth Probst is historian for the town of Aurelius.
There were no exclusive rights or privileges granted and the charter was to be forfeited unless the bridge was completed within three years. The company was given the right to select the location across the lake or the outlet. The importance of the bridge is appreciated to this day as the connecting link to Genesee County, and its rebuilding is now being recommended as a connection with the Cherry Valley Turnpike.
The building of the Cayuga Bridge was financed by some of the directors of the Manhattan Company of New York. This company of which Aaron Burr was a director was incorporated to construct and operate a water system for the city - and a clause in its charter also gave it authority to invest its surplus funds in financial transactions not inconsistent with the public interest.
The Bank of North America had been incorporated in 1781 and given a monopoly of the banking business in all the states for the duration of the war. After the war, the first bank incorporated in New York was the Bank of New York, chartered in 1791, and it is still doing business under the name of the Bank of New York & Trust Co. This bank was strictly an Alexander Hamilton bank.
The Manhattan Company, chartered in 1799, was the second bank, as the company began immediately to operate a banking business as well as a water company.
It opened its office at 40 Wall St. where it is still doing business as the Bank of Manhattan Company. In the history of banking, this company is known as “Burr's Bank.”
Comfort Tyler was the designer of the bridge, and Israel Smith was in charge of construction. Both of these men were connected with Aaron's Burr expedition in the Southwest and were arrested for conspiracy but not indicted.
Unable to complete the bridge within the statutory time, the company applied to the legislature for an extension of time and for a permit for increased capitalization and for exclusive privileges. Accordingly, by the act of March 1, 1799 Chapter 21, the corporate existence was extended to 75 years and the capital increased and May 1, 1801 was fixed for the date of completion.
Also, exclusive privileges were granted for the full term for ferries, bridges and boat crossings within three miles north and south of the bridge as then located but not completed.
At the time that the original charter was granted, John Harris (whose grandfather gave his name to Harrisburg, Pa.), perceiving the necessity of the crossing, was operating a ferry south of the bridge in company with his brother-in-law, James Bennett, who lived on the west shore of Cayuga Lake near the cobblestone house built by Julius Bull.
This public ferry was by law illegal, and John Harris joined the bridge company and became one of its original incorporators, the others being Charles Williamson, Thomas Morris (son of Robert Morris of Philadelphia), Wilhelmus Mynderse and Joseph Annin, who with Benjamin Barton was a surveyor for Charles Williamson and laid out the city of Geneva.
Joseph Annin later moved to Cayuga and was state senator from 1803 to 1807. The Annins are buried in the cemetery near the lake, south of Cayuga Village.
Ruth Probst is historian for the town of Aurelius.
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