A Study of the Port of New York Authority

By Frederick L. Bird | Go to book overview

Chapter Seven
The FINANCIAL OPERATING RECORD

THE PORT AUTHORITY'S RECORD of financial operations on a large scale dates from 1932, the first full year in which the George Washington and Bayonne Bridges were in operation and the Holland Tunnel was fully under the Authority's control. While the two Arthur Kill bridges had been opened in 1928 they were relatively minor enterprises. Over the 16-year period 1932-1947, the annual income of the Authority has increased from $10.1 million to $28.8 million, the net revenue available for debt service from $8.1 million to $20.7 million, and the amount available for debt retirement and reserves from $3.6 million to $15.9 million.

These large gains have been due in part to increased use of the facilities in operation in 1932, and in part to the addition to those facilities of the Port Authority Building in 1934, the south tube of the Lincoln Tunnel in 1937, the Port Authority Grain Terminal in 1944, the north tube of the Lincoln Tunnel in 1945, and LaGuardia Airportin 1947.


The Long - Term Trend of Revenues and Expenditures

The 16 years from 1932 through 1947 provided an unusually thorough test of the Port Authority's earning power and financial stability. The period started inauspiciously with the two most acute years of the 1930's depression. Several years of irregular economic recovery followed, but by 1942 booming motor traffic had become a war casualty. It was not till 1946 and 1947, in fact, that the combination of completed crossing facilities, unrestricted gasoline supply, and general business prosperity permitted the Authority to demonstrate its real fiscal potentialities. The record shows, however, a relative stability of operations that was in contrast to the vicissitudes of the period, a consistently adequate earning power, and an ability on the part of the management to cope successfully with changing conditions.

-59-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited page

Bookmark this page
A Study of the Port of New York Authority
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this book
  • Bookmarks
  • Highlights & Notes
  • Citations
/ 193

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.