history of the New York City Subway

The first underground line of the New York City Subway opened on October 27, 1904, almost 35 years after the opening of the first elevated line in New York City, which became the IRT Ninth Avenue Line. By the time the first subway opened, the lines had been consolidated into two privately owned systems, the Brooklyn Rapid Transit Company (BRT, later Brooklyn–Manhattan Transit Corporation, BMT) and the Interborough Rapid Transit Company (IRT). The city was closely involved: all lines built for the IRT and most other lines built or improved for the BRT after 1913 were built by the city and leased to the companies. The first line of the city-owned and operated Independent Subway System (IND) opened in 1932; this system was intended to compete with the private systems and allow some of the elevated railways to be torn down, but kept within the core of the City due to the low amount of startup capital provided to the municipal Board of Transportation, the later MTA, by the state. This required it to be run "at cost", necessitating fares up to double the five-cent fare popular at the time.