reorganize again. The company was placed back in receivership on May 28, 1901. Under another foreclosure, it was reorganized as the Houston Electric Company on October 26, 1901, and purchased as a wholly owned subsidiary by the Boston-based engineering company Stone & Webster on November 1, 1901. It would retain this name and general direction for the next several decades. On July 5, 1903, the Houston Electric Company developed and opened a park named "Highland Park" to encourage ridership on its Houston Avenue line. The park property was leased to property managers who would then operate the facility. It was sold to the city to become a municipal park in 1911, and its name was changed to Woodland Park in 1914. Woodland Park is still in existence in Woodland Heights. Introduction of buses & change of direction In 1924, the first bus, used on Austin Street, was incorporated into the Houston Electric Street Company's system. By 1925, two more bus lines, one to the East End, were added. Over time, buses continued to replace the streetcar until June 1940 when the entire system was converted to bus service. In 1946, having discontinued electric streetcar service, the company appropriately changed their name from Houston Electric Company to Houston Transit Company. In 1961, Houston Transit Company was acquired by new owners and renamed Rapid Transit Lines. Rapid Transit Lines was acquired by National City Lines in 1966. In 1974, the City of Houston acquired Rapid Transit Lines from Houston Transit Company. References Further reading External links Bus transportation in Texas Defunct Texas railroads Defunct public transport operators in the United States Metropolitan Transit Authority of Harris County Streetcars in Texas Transportation in Harris County, Texas Transportation in Houston