Kleiner’s Korner: Stockholders of the Long Island Motor Parkway
Initial payments were made following a request by the Finance Committee on May 24, 1907. During the course of construction additional payments were requested, usually 25% of a person's full investment. Documents courtesy of the Vanderbilt Museum in Centerport.
Art Kleiner
This is Wille K.s payment of $11,250, representing one quarter of his $45,000 total investment of stock in the Motor Parkway. According to other records listing subscribers and their investments, Willie's would grow over time.
Might this be from the senior Wiliam K. Vanderbilt?
Payne Whitney's payment representing 25% of his total $24,000 investment.
In September of 1907 the second request for additional payments were made by the Finance Committee.
The letter requesting payment contained an update indicating obtaining rights of way for the Parkway and highlighted locations for "feeders" or "terminal properties": close to Jericho Turnpike and on Fulton Avenue in Hempstead.
The entrance to the Parkway from Jericho Turnpike.
The Fulton Avenue spur.
Progress is being made "better than we had expected".
Payment was due on or before October 12, 1907.
The list of subscribers to the Motor Parkway included many wealthy individuals across many industries including a who's who of Long Island estate owners. The Long Island Rail Road was even listed as a subscriber.
Comments
Art, The photo of the toll booth says west view. Don’t think so…..believe we are looking southeast. The door of the booth was located on the east side of the booth as was access to the Parkway from Jericho Tpke.
I agree with Al. Photo taken with a SE view from Jericho Tpke. The left side of the booth (dark side) is facing north. This photo was taken sometime in the afternoon
Unless the caption meant; the visible west side of the toll booth that appears here, which should just about confuse EVERYBODY. Nonetheless, this photographer was facing SE
A $1000 Motor Parkway bond