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| W.B.'s Bus Almanac for July 23rd [DELAYED] (351086) | |||
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W.B.'s Bus Almanac for July 23rd [DELAYED] |
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Posted by W.B. on Fri Jul 24 02:07:18 2026 July 23, 1930 - The Book of First Runs Brooklyn, New York Brooklyn & Queens Transit Corporation Service is inaugurated on a new trolley coach line, Route 23 - Cortelyou Road, which runs from Flatbush Avenue to Coney Island Avenue. It is the first such route in Brooklyn. A branch of this route, consisting of motor buses, runs to Dahill Road. (Source: Motor Coach Age, June-July 1975 - article by Bernard Linder, route history by Donald W. Harold and Mr. Linder.) July 23-24, 1956 - The Book of Corporate Reorganizations and Restructurings Manhattan, New York Third Avenue Transit Corporation On July 23, the Securities and Exchange Commission recommends to the U.S. District Court that a proposed reorganization plan for the bankrupt Third Avenue Transit Corporation as submitted by Fifth Avenue Coach Lines, Inc. be approved, calling it "fair, equitable and feasible." On July 24, Federal Judge Edward J. Dimock approves the plan - the first such plan in the seven years Third Avenue Transit had been in bankruptcy to receive such approval. Under the plan, Third Avenue Transit would be merged with its principal subsidiary, Surface Transportation Corporation of New York, into a new entity called Surface Transit, Inc., upon which Fifth Avenue Coach Lines would acquire the company. (Fifth Avenue Coach stockholders will vote in favor of the acquisition on July 27.) The full change does not occur until after Judge Dimock signs off on the final order to approve the reorganization and takeover on December 17. (Sources: "Coach Plan Approved," The New York Times, July 24, 1956; "Court Approves Reorganization, Sale of 3d Ave. Transit to 5th Ave. Lines," The New York Times, July 25, 1956; "Fifth Ave. Coach Company Stockholders Vote to Acquire Third Ave. Bus Company," The New York Times, July 28, 1956.) |
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