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| W.B.'s Bus Almanac for November 8th (331761) | |||
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W.B.'s Bus Almanac for November 8th |
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Posted by W.B. on Thu Nov 8 05:17:07 2018 November 8, 1951 - The Book of Corporate Mergers, Acquisitions and Consolidations New York City New York City Omnibus Corporation Madison Avenue Coach Company, Inc. Eighth Avenue Coach Corporation The New York State Public Service Commission approves the merger of New York City Omnibus Corporation with its two subsidiaries, Madison Avenue Coach Company, Inc. (heretofore operator of the 1 and 2 - Fourth and Madison Avenues lines) and Eighth Avenue Coach Corporation (which had operated the 10 - Eighth Avenue-Central Park West and 11 - Ninth and Amsterdam Avenues lines). The combined entity, with total assets of $28,000,000, will retain the New York City Omnibus name, with all 960 buses scattered amongst the four depots operated by the company now bearing 'NEW YORK CITY OMNIBUS CORPORATION' on their sides and the four routes in question placed under NYCO's aegis. (For accounting purposes, this unification is made effective as of November 1, to be consummated after a certificate of merger is filed with the Secretary of State.) This consolidation creates the largest urban bus company in New York State, and one of the largest in the nation. (Sources: "Bus Merger in City Approved by P.S.C.," The New York Times, November 9, 1951; "P.S.C. Permits N.Y. Omnibus to Absorb 2 Units," New York Herald Tribune, November 9, 1951; "3 N.Y. Bus Companies Will Merge," Daily News [New York], November 9, 1951.) |
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