Word: interborough
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...Interborough Rapid Transit Co. staved off receivership in 1922 by whittling down its guarantee of dividends of stock of the Manhattan elevated lines which it had leased for 999 years. As a further aid J. P. Morgan & Co. arranged an exchange of maturing notes for an issue of ten-year notes. The elevated lines grew progressively unprofitable. Last year they showed a loss of $4,000,000 which I. R. T. had to make good from its subway earnings. Knowing that I. R. T. would be unable to meet its notes on Sept. 1, Banker Morgan revived a dormant committee...
During the rush hour one morning last week in Manhattan, President Frank Hedley of Interborough Rapid Transit Co. boarded one of his own subway express trains at 14th Street like any other nickel-paying subway rider. As the train hurtled downtown, Mr. Hedley smelled smoke. About the train curled acrid yellow fumes. President Hedley did not need to be told something was seriously wrong. He at once took mastership of the situation. Shouldering his way through the pack of nervous passengers to the front car, he told the motorman to stop beside a local at the Bleecker Street station...
Wall Street's passenger traffic has shrunk according to these figures given out by Interborough Rapid Transit Co.: Fares Collected, first four months...
...American Tobacco Co. meet April i they will be glad to hear President George Washington Hill report that last year their company's profits jumped from $30,000,000 to $43,000,000. They will also hear a speech from Richard Reid Rogers, one-time chief counsel of Interborough Rapid Transit Co. Stockholder Rogers has bitterly opposed American Tobacco's bonus- for-the-management plan. Last week he wrote to other stockholders calling attention to the fact that President Hill's 1930 compensation included $1.008,000 in salary and cash bonuses, $1,275,000 in stock...
...skewered by two sets of tubes, its flat back mounted by three great overhead structures. The tubes all duck under the East River, bore deep into Brooklyn. One is run by Brooklyn-Manhattan Transit Corp. The other, a two-pronged affair stretching to The Bronx, is controlled by Interborough Rapid Transit Co. which also operates the elevated lines. New York City owns the tunnels and tracks, rents them under long-term leases to the operating companies...