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Long Island Traction Company

From Wikipedia, the free encyclopedia
For the street railway company in Queens and Nassau County, seeNew York and Long Island Traction Company.

TheLong Island Traction Company was astreet railwayholding company inBrooklyn andQueens,New York City,United States.

History

[edit]

In order to get around anti-stock watering statutes, the owners of theBrooklyn City Rail Road, capitalized at $6 million, incorporated the Long Island Traction Company inWest Virginia in March 1893 with a capital of $30 million. The BCRR-controlled[1]Brooklyn Heights Railroad, until then the operator of only the shortcable-operatedMontague Street Line, leased the BCRR on June 6, 1893.[2][3][4] The Long Island Traction Company acquired theBroadway Railroad by May 1893,[5] and incorporated theBrooklyn, Queens County and Suburban Railroad on November 24, 1893 to take it over, as well as theBroadway Ferry and Metropolitan Avenue Railroad andJamaica and Brooklyn Railroad.[6] The increased capitalization was used to convert the companies fromhorse car totrolley operations.

The Long Island Traction Company wentbankrupt in mid-1895[7] after a Januarystrike.[8] TheBrooklyn Rapid Transit Company was incorporated January 18, 1896,[9] and took over the LI Traction Company in early February.[10]

Controlled lines

[edit]
From theBrooklyn City Rail Road[11]
From theBrooklyn Heights Railroad
From theBroadway Railroad[12]
From theBroadway Ferry and Metropolitan Avenue Railroad[12]
From theJamaica and Brooklyn Railroad[12]

References

[edit]
  1. ^"The Montague Street Road".Brooklyn Daily Eagle.Brooklyn, NY. 18 July 1890. p. 6.
  2. ^Frank Parsons,The City for the People: Or, The Municipalization of the City Government and of Local Franchises, page 96
  3. ^William Z. Ripley,Trusts, Pools and Corporations, page 146
  4. ^"The Lease of the City Lines".Brooklyn Daily Eagle.Brooklyn, NY. 7 June 1893. p. 10.
  5. ^"Reaching for Routes".Brooklyn Daily Eagle.Brooklyn, NY. 31 May 1893. p. 10.
  6. ^"Surface Railroad Deals".Brooklyn Daily Eagle.Brooklyn, NY. 25 November 1893. p. 1.
  7. ^"Local Stocks and Bonds".Brooklyn Daily Eagle.Brooklyn, NY. 2 June 1895. p. 23.
  8. ^"The Tie Up".Brooklyn Daily Eagle.Brooklyn, NY. 14 January 1895. p. 1.
  9. ^"L.I. Traction Reorganization".Brooklyn Daily Eagle.Brooklyn, NY. 18 January 1896. p. 1.
  10. ^"Local Stocks and Bonds".Brooklyn Daily Eagle.Brooklyn, NY. 9 February 1896. p. 23.
  11. ^Report of the Special Committee of the Assembly Appointed to Investigate the Causes of the Strike of the Surface Railroads in the City of Brooklyn, 1895, pages 33-34
  12. ^abcReport of the Special Committee of the Assembly Appointed to Investigate the Causes of the Strike of the Surface Railroads in the City of Brooklyn, 1895, pages 52-53
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