Brooklyn Rapid Transit Company

Brooklyn Rapid Transit Company

The Brooklyn Rapid Transit Company (BRT) was a public transit holding company formed in 1896 to acquire and consolidate lines in Brooklyn and Queens, New York City, United States.

History

The BRT was incorporated January 18, 1896, [cite BDE|title=L.I. Traction Reorganization|md=January 18|y=1896|page=1] and took over the bankrupt Long Island Traction Company in early February. [cite BDE|title=Local Stocks and Bonds|md=February 9|y=1896|page=23] Thus it started out by owning the Brooklyn Heights Railroad, lessee of the Brooklyn City Rail Road, and the Brooklyn, Queens County and Suburban Railroad. The BHRR leased the BQC&S on July 1, 1898. [cite BDE|title=Rapid Transit Statement|md=August 26|y=1898|page=7]

By 1900, it had acquired virtually all of the rapid transit and streetcar operations in its target area:
*Sea Beach Railway, acquired in November 1897cite BDE|title=Local Stocks and Bonds|md=November 14|y=1897|page=31] and leased to the BHRRFact|date=February 2007
*Sea View Railroad (Coney Island Elevated), acquired in November 1897 and leased to the BHRRFact|date=February 2007
*Nassau Electric Railroad (lessee of the Atlantic Avenue Railroad, Brooklyn, Bath and West End Railroad, Coney Island and Gravesend Railway, and South Brooklyn Railway), acquired in November 1898 [cite BDE|title=Of the Nassau-Transit Railroad Consolidation Deal|md=November 6|y=1898|page=30] and leased to the BHRR in April 1899cite BDE|title=Flynn Enjoins Nassau Lease|md=April 4|y=1899|page=1]
*Brooklyn Elevated Railroad, acquired in March 1899 [cite BDE|title=Local Stocks and Bonds|md=March 19|y=1899|page=35] and leased to the BHRR in April 1899
*Brooklyn and Brighton Beach Railroad (Brighton Beach Line), acquired in March 1899 [cite BDE|title=Rapid Transit Company Gets Brighton Beach R.R.|md=March 21|y=1899|page=1]
*Kings County Elevated Railroad (Fulton Street Line), acquired in November 1899 [cite BDE|title=Local Stocks and Bonds|md=April 16|y=1899|page=57] and merged into the Brooklyn Union Elevated on May 24, 1900 [cite BDE|title=L Merger Certificate|md=May 24|y=1900|page=1]
*Prospect Park and Coney Island Railroad (Culver Line), leased to the BHRR on June 18, 1899 [cite BDE|title=Transit Co. Leases P.P. and C.I. Road|md=June 17|y=1899|page=1]

Only the Coney Island and Brooklyn Railroad and the short Van Brunt Street and Erie Basin Railroad remained independent; the former was acquired in 1913 or 1914.PDFlink| [http://www.bmt-lines.com/moodybrt.pdf 1914 Moody's Manual: Brooklyn Rapid Transit Company] |696 KiB ]

Though the BRT was the public face of the consolidated companies, it left it to the acquired companies or newly formed companies to carry out the actual operation of the system, to provide power and services for the system, and even to design and acquire rolling stock. Until 1907, the only operating company was the Brooklyn Heights Railroad.Fact|date=February 2007

The elevated railroads were operated by a new corporation, the New York Consolidated Railroad. In 1913, the BRT, through another subsidiary, the New York Municipal Railway, signed the Dual Contracts with the City of New York, to construct and operate new subways and other rapid transit lines to be built or improved under these contracts.

World War I and the attendant massive inflation associated with the war put New York transit operators in a difficult position, since their contracts with the City required a five-cent fare be charged, while inflation made the real value of the fare less than three cents in constant currency value. On November 1, 1918, the BRT suffered the Malbone Street Accident, the second worst rapid transit train wreck to occur in the United States, killing at least 93 people.

Though the claims from the wreck didn't, in themselves, force the company into bankruptcy, they further destabilized the financially struggling company, and the BRT became insolvent in 1919.

During its short history, the BRT rose to become a prominent corporation and industry leader in the railroad field, winning the prestigious single-letter symbol B on the New York Stock Exchange.

In 1923 the BRT was restructured and released from bankruptcy as the Brooklyn-Manhattan Transit Corporation.

References


Wikimedia Foundation. 2010.

Игры ⚽ Поможем написать курсовую

Look at other dictionaries:

  • Brooklyn Rapid Transit Company — La Brooklyn Rapid Transit Company (ou BRT) était une entreprise de transport, fondée en 1896, pour acquérir et grouper les moyens de transport dans le comté de King (Kings County) devenu le borough de Brooklyn, à New York. Histoire En l espace d… …   Wikipédia en Français

  • Interborough Rapid Transit Company — La Interborough Rapid Transit Company (IRT) fue la operadora original de la línea original del metro de la ciudad de Nueva York que abrió en 1904, al igual que las primeros rieles elevados y líneas adicionales de transito rápido en la ciudad de… …   Wikipedia Español

  • Interborough Rapid Transit Company — The Interborough Rapid Transit Company (IRT) was the operator of the original underground New York City Subway line that opened in 1904, as well as earlier elevated railways and additional rapid transit lines in New York City. The IRT was… …   Wikipedia

  • Rapid transit operations of the BRT and BMT — Brooklyn Union Elevated Railroad New York Consolidated Railroad New York Rapid Transit Corporation Locale New York City Dates of operation 1899 – 1907 (B klyn Heights RR) 1907 – 1912 (B klyn Union …   Wikipedia

  • Brooklyn-Manhattan Transit — Corporation Station de Canal Street La Brooklyn Manhattan Transit Corporation était une société privée, à portefeuille, basée à Brooklyn, New York, et créée en 1923, succédant à la Brooklyn Rapid Transit Company. En 1940, cette entreprise fut… …   Wikipédia en Français

  • Brooklyn-Manhattan Transit Corporation — The Brooklyn Manhattan Transit Corporation (BMT) was an urban transit holding company, based in Brooklyn, New York City, United States, and incorporated in 1923. It is now the BMT Division of the New York City Subway. Together with the IND, it is …   Wikipedia

  • Brooklyn-Manhattan Transit Corporation — Station de Canal Street La Brooklyn Manhattan Transit Corporation était une société privée, à portefeuille, basée à Brooklyn, New York, et créée en 1923, succédant à la Brooklyn Rapid Transit Company. En 1940, cette entreprise fut rachetée par la …   Wikipédia en Français

  • Twin City Rapid Transit — Infobox Defunct Company company name = Twin City Rapid Transit company slogan = fate = streetcar system dismantled completely in 1954, sold in 1970 successor = Metro Transit foundation = 1875 defunct = 1970 location = Minneapolis St. Paul… …   Wikipedia

  • Brooklyn City Railroad — The Brooklyn City Railroad (BCRR) was the oldest and one of the largest operators of streetcars (horsecars and later trolleys) in the City of Brooklyn, New York, continuing in that role when Brooklyn became a borough of New York City in… …   Wikipedia

  • Brooklyn Bridge trolleys — From 1898 to 1950, various companies operated local trolley lines over the Brooklyn Bridge, taking passengers from many points in Brooklyn and Queens, New York City, United States to the Park Row terminal in Lower Manhattan. These lines entered… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”