for the Long Island Railroad entry down town.

[Illustration: PLATE V.--NEW YORK UNDERGROUND RAILWAY COMPANY Section
Through Surface and Underground Stations]

Subsequently, however, it was proved that Mr. Baldwin had not been fully
satisfied that this was the proper solution of the matter, for on April
12th, 1901, and upon his recommendation, the Board of Directors of the
Long Island Railroad Company took over from the Pennsylvania Railroad
Company its entire interests in the old Brooklyn, New York, and Jersey
City Terminal Railway Company, thus giving him control of the route from
Flatbush Avenue _via_ Maiden Lane and Cortlandt Street to underneath the
Jersey City station.

In the early part of 1900 active consideration was being given by the
Pennsylvania Railroad and other railroads terminating in New Jersey to
the proposed North River Bridge, as hereinbefore stated, and, for the
Long Island Railroad, Mr. Baldwin organized a new company to construct a
tunnel from the Long Island Railroad at Sunnyside Yard, diving under the
streets of Long Island City by two tracks under the East River to the
foot of 33d Street and then proceeding under 33d Street as far as
Seventh Avenue. A station was to be located at Fourth Avenue below the
Rapid Transit Subway Station and also a large Terminal Station at
Broadway. For this purpose an option was obtained on the property of the
Newbold Lawrence Estate, at Broadway, Sixth Avenue, 33d and 34th
Streets, now occupied by Saks' Store. Mr. Baldwin, however, considered
that the amount of the investment ($1,600,000) for that property was too
great for this purpose, and allowed the option to expire. The property
was sold within a week thereafter to the Morganthau Syndicate for
$2,000,000. At this time (May, 1900), the Pennsylvania Railroad obtained