The Railroad
 

Passenger Revenue

Traffic on the Hudson Tubes continued
to decline in 1950, despite the progress
already achieved in our improvement
program. As the accompanying chart sug¬
gests, much of this traffic apparently was
lost to the tax-free trans-Hudson facilities
of the Port of New York Authority. But
this publicly-subsidized competition was
only one of several factors in the loss.
Both of the fare increases awarded us in
1950 resulted in substantial diversion of
passengers from the Hudson Tubes to
other means of transportation.

The number of passengers carried
during the year declined from 60,545,-
 

511 in 1949 to 52,283,742 in 1950, a
drop of 13.6 per cent. At the same time,
the total passenger revenue increased
from $5,896,377 in 1949 to $6,677,863,
or 13.3 per cent.

The most important factor in these
trends was an increase in the interstate
local fare — for service between points
in New York and points in Jersey City
and Hoboken — from 10 cents to 15
cents on March 19, 1950. This service
represents about 80 per cent of the Com¬
pany's total passenger revenues. During
the nine full months following the fare
increase, the interstate local passenger
revenue was up 23.7 per cent, or $794,-
467, over the corresponding period of
 

Passenger

Traffic

1925-1950

Passengers Carried Per Year
In Millions

Hudson Tubes Compared
with Trans-Hudson
Port Authority Facilities

^^H  Hudson Tubes

i^^l   Porl Authority Facitilies*
 

Ymff/A    Hollond Tunnel*

Li:i--i:   George Washington Bridge*

■il   tinwln Tunnel*
 

^dbylh
 

.1. Auit»rity