A new
Metropolitan Traction Company of New York, with almost twice the
capitalization of the old company, took over on August 4, 1892, and continued to buy street railroads: the
Central Park, North and East River Railroad (minority interest) in August 1892, the
Forty-second Street and Grand Street Ferry Railroad in March 1893, the
Thirty-fourth Street and Eleventh Avenue Railroad in April 1893, the
Columbus and Ninth Avenue Railroad and
Lexington Avenue and Pavonia Ferry Railroad in May 1893, the
Fulton Street Railroad in October 1895, the
Twenty-eighth and Twenty-ninth Streets Crosstown Railroad in September 1896, and the
Central Crosstown Railroad (which had leased the
Christopher and Tenth Street Railroad in 1890) in May 1897. The Traction Company also began leasing its subsidiaries to each other, starting with the leases to the Houston, West Street and Pavonia Ferry Railroad of the Broadway and Seventh Avenue Railroad (May 13, 1890), the Chambers Street and Grand Street Ferry Railroad (January 31, 1891), and the Twenty-third Street Railway, including its lease of the Bleecker Street and Fulton Ferry Railroad (April 25, 1893). Two companies not owned by the Traction Company - the
Sixth Avenue Railroad and
Ninth Avenue Railroad - were leased to the Houston on February 1 and March 12, 1892. The minority-owned Central Park, North and East River Railroad and majority-owned Forty-second Street and Grand Street Ferry Railroad were leased to not only the Houston, but also the Metropolitan Cross-Town Railway, on October 14, 1892, and April 6, 1893. The Houston merged with the Broadway Railway and South Ferry Railroad on December 12, 1893, forming the
Metropolitan Street Railway Company. That company was merged with the Lexington Avenue and Pavonia Ferry Railroad and Metropolitan Cross-Town Railway on May 28, 1894, creating a second company with the same name, and a third Metropolitan Street Railway was formed on November 12, 1895, when it was merged with the Columbus and Ninth Avenue Railroad. The Metropolitan leased two other non-owned lines: the
Eighth Avenue Railroad on November 23, 1895, and the
New York and Harlem Railroad (City Line) on June 11, 1896. On September 16, 1897, the Metropolitan Traction Company, which had acquired most of Manhattan's street railways, was dissolved, the stock being transferred to the Metropolitan Street Railway. That company signed operating agreements with the Fulton Street Railroad on February 19, 1896 The only remaining company was the
Third Avenue Railroad, which had built up its own system through ownership and leases. Among the company's lines were two crosstown lines on 42nd Street and 125th Street, two north–south lines on Third Avenue and Broadway, the entire street railway network of
the Bronx, and a number of lines in
Westchester County. The great cost of
electrifying its lines brought it to
bankruptcy in 1900, and the Metropolitan acquired a majority of its stock in March of that year and leased it on April 13. With this acquisition, the Metropolitan had complete control of the street railways of Manhattan and the Bronx. ==Interurban Street Railway Company==