Both Chicago Surface Lines (the four underlying companies) and the Chicago Rapid Transit Company had been in bankruptcy since the early 1930's. Multiple attempts at an income-based re-organization were not successful and municipalization was seen as the only way of preserving public transit in Chicago. The Chicago Transit Authority was formed in late 1945 under an enabling statute passed by the Illinois General Assembly. On October 1, 1947, the CTA purchased the operating assets of Chicago Surface Lines and Chicago Rapid Transit Company and assumed operation of most public transit in Chicago. In 1952, the CTA took over the operations of the Chicago Motor Coach Company (The Boulevard Route).
The second sentence of the article says CTA started October 1, 1947. On the right is a column of basic information and the date is repeated there. But you are correct; the article does not explain why CTA took over from the previous providers. It does identify those providers and says CTA is a municipal corporation but that is all it say. And I agree; that information should be included.
or what caused the city to take over the bus and L trains....I read this up and down. nothing
http://en.wikipedia.org/wiki/Chicago_Transit_Authority
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