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From the 1920s, the rise of automobile travel and the concurrent construction of bridges and tunnels across the river sent the H&M into an financial decline from which it never recovered, and it was forced into bankruptcy in 1954.
As part of the deal that cleared the way for the construction of the original World Trade Center, the Port Authority bought the H&M out of receivership in 1962 and renamed it PATH.
There were early negotiations for New York Penn Station to also be shared by the two railroads.
When the rapid transit commissioners approved construction of the H&M's Sixth Avenue line in 1904, they left open the option of digging an east-west crosstown line.
The New York and New Jersey Railroad Company received perpetual rights to dig under Christopher and Ninth Streets eastward to either Second Avenue or Astor Place.
The Interborough Rapid Transit Company (IRT), a competitor to the H&M, proposed to connect its Lexington Avenue line to the H&M at Grand Central, Astor Place, and Fulton Street–Hudson Terminal once the planned system was complete.
It resumed in 1900 under the direction of William Gibbs Mc Adoo, an ambitious young lawyer who had moved to New York from Chattanooga, Tennessee, and later became president of the H&M.
When the New York and New Jersey Railroad Company resumed construction on the uptown tubes in 1902, its chief engineer, Charles M. He had workers push a shield through the mud and then place tubular cast iron plating around the tube.
Revenue service started between Hoboken Terminal and 19th Street at midnight on February 26, 1908, when President Theodore Roosevelt pressed a button at the White House that turned on the electric lines in the uptown tubes (the first train carrying passengers, all selected officials, had run the previous day).Originally, the Hudson Tubes were designed to link three major railroad terminals on the Hudson River in New Jersey—the Erie Railroad (Erie) and Pennsylvania Railroad (PRR) in Jersey City and the Delaware, Lackawanna and Western Railroad (DL&W) in Hoboken—with New York City.While PATH still connects to train stations in Hoboken and Newark, the Erie's Pavonia Terminal at what is now Newport and the PRR terminal at Exchange Place station have been closed and demolished.A stop at Summit Avenue (now Journal Square), located between Grove Street and Manhattan Transfer, opened in April 1912 as an infill station on the Newark-Hudson Terminal line, though only one platform was in use at the time.The station was completed by February 1913, allowing service from 33rd Street to terminate there.