|
The Metropolitan Street Railway System (New York)
Page entitled : Metropolitan Street Railway's rise
and debacle
Content of this page is about :
How the Whitney-Ryan-Elkins-Widener group grew Metropolitan into a near
monopoly of New York traction lines, looted it and left it prone to debacle,
which occured in 1907.
Extract :
the Metropolitan Traction
Company was dissolved after paying its stockholders, then still including
the Whitney-Ryan-Elkins-Widener Syndicate, a special dividend of $6000000.
A new operating structure, the Interurban Street Railway Company was
incorporated in 1901 and subsequently leased the Metropolitan Street Railway
properties for 999 years, as well as the properties of two additional
structures, the Peoples Traction Co and the New, York, Westchester &
Connecticut Traction Co, which were set up to extend the network into the
Bronx Borough and beyond.
...
|
|
