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1904 Business Meeting Minutes of the Interborough Rapid Transit Co. - The IRT Subway Line Of New York City Many Signed By August Belmont President and Chairman of the Executive Committee
New York City Not Published 1904 (58) page index + 215 pages, typed one side; documenting the meetings of the Executive Committee and the Board of Directors of the first New York subway; with very good content, proposals for making changes from horse power to electricity on some of the branch lines the company owned, acquisition of the Manhattan Railway Co., decisions to begin advertising in the subways and the consequent negotiations with the city's subway commission over its appropriateness; purchases of equipment, buildings, rights-of-way, dividends, engineering issues and installation of apparatus, the day-to day operation of this mass transit system that was a fast-growing, profit-making entity; of special usefulness is the typed, alphabetically-organized index at front of the volume, beginning with "Adjustments of Differences with Employees, Manhattan Division" and "Advertising, Authority to Employ Agent to Supervise Location in Stations" to "Well Water for Boiler Feed Pumps, Power House" and "Westinghouse Electric & Mfg. Co." & "Yard Buildings, Painting" - extremely detailed, with improvements at 39 Greenwich Street for the accommodation of express business to ceiling fixtures for station kiosks; the members of the Executive committee being August Belmont (Chairman), General James Jourdan, Walter G. Oakman, William A. Read and Cornelius Vanderbilt; the Board, of which Belmont was President, added Andrew Freeman, Gardiner M. Lane, John B. McDonald, Alfred Skitt and George W. Young - with membership revised as circumstances changed; typed usually in black ink, some in purple; various titles hand-underlined in red - these are the final, corrected minutes; a couple of the documents signed by Oakman, a few by E.P. Bryan, a later addition to the Board and most signed by the secretary, H.M. Fisher; approximately 45 of these documents are hand-signed in full by the President of the company, August Belmont II (1853-1924) American financier and sportsman, among other projects, was of great help in financing the construction of this line - "...When contractor John B. McDonald could not guarantee the required $6 million in security bonds and $1 million in cash to begin the project, Belmont established the Interborough Rapid Transit Construction Company to finance it...(he was)...an all-around sportsman who was an active polo player, vice commodore of the New York Yacht Club, president of the Westminster Kennel Club, and a supporter of the sport of aviation. His elite economic and social status was further reflected by a Newport summer home, a Long Island country estate, and New York's only private subway car." (Steven A. Riess in the ANB); the volume approx. 11 3/4" x 9 3/4" size; bound in the original pebbled brown cloth, flat- backed black leather spine and corners; gilt titles on spine, gilt rules; leather very rubbed, worn; inner endpapers split at gutter; all the minute papers in very good plus condition, clean, with one page with a closed tear, repaired at back; the old leather alpha-markers from the index pages gone, leaving some darkening on the divider sheets; overall, in very good condition and good New York City subway, transportation and business history from the early 20th century. Very Good
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Last Found On: 2012-12-27           Check availability:      Direct From Bookseller    

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