. Electric railway gazette . iction, the ridi-cule of the press, the realiza-tion of timid holders of thecompanys stock, whichcaused the price to fall in themarket one hundred per cent.,Mr. Lyon went at his workwith a tireless and irresistiblewill; and his prediction thatthe operation of the elevatedroad would in the end provebeneficial to his corporationsubsequently proved to becorrect. The large number of peo-ple who, by the new means of transportation, availed them-selves of the means of securing cheap and comfortablehomes in Harlem, instead of in Jersey City and Brooklyn,favored the Third
. Electric railway gazette . iction, the ridi-cule of the press, the realiza-tion of timid holders of thecompanys stock, whichcaused the price to fall in themarket one hundred per cent.,Mr. Lyon went at his workwith a tireless and irresistiblewill; and his prediction thatthe operation of the elevatedroad would in the end provebeneficial to his corporationsubsequently proved to becorrect. The large number of peo-ple who, by the new means of transportation, availed them-selves of the means of securing cheap and comfortablehomes in Harlem, instead of in Jersey City and Brooklyn,favored the Third Avenue surface road; and the patronageof this new element more than counter-balanced the amountlost by the company upon its long travel. When theseresults became known, the stock of the Third Avenue com-pany advanced rapidly, and, in the early part of 1886, soldat 330—the highest point reached in its history. Two events in the course of Mr. Lyons administrationof the affairs of this corporation have a wide-spread interest;. namely, the introduction of the cable traction system ofstreet railways into the State of New York, and his manage-ment of the great strike of the employees of the ThirdAvenue company in February, 1886—the latter event andits proceedings being watched by the populations of this con-tinent and of Europe. Cable railways had been in successful operation in Cali-fornia for some years prior to the introduction of the systemhere, by the Third Avenue Railroad Company; and thechief objection, lodged against successful operation here,was the difference in climate and its effect upon the slotrail, or rail through whichthe steel connection rod runsbetween the car and the cable—many believing that thecomparative severity of NewYork winters would cause theslot to contract, and also thatice and snow would renderpassage along the road diffi-cult, if not impossible. , however, induced hisBoard of Directors to buildthe Tenth Avenue cable road,the construction of
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Keywords: ., bookcentury1800, bookdecade1890, bookpublishernewyo, bookyear1895
