The financier: August Belmont, Jr. (nee August Schonberg), of Belmont Park racetrack fame, was president of the Interborough Rapid Transit Company, which he founded and incorporated in 1902 to help finance the construction and operation of New York City’s first subway line. Belmont and his partner, McDonald, also formed a separate company to build the subway, the Rapid Transit Construction Company.
August Belmont Jr
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