, ▁New ▁Jersey ▁and ▁New ▁York ▁Rail road , ▁incorpor ated ▁on ▁February ▁ 1 3 , ▁ 1 9 0 2 , ▁was ▁to ▁over see ▁construction ▁of ▁the ▁North ▁River ▁T unn els . ▁The ▁P N J & N Y ▁would ▁also ▁be ▁in ▁charge ▁of ▁the ▁M ead ows ▁Division , ▁which ▁would ▁handle ▁the ▁construction ▁of ▁the ▁North ▁River ▁T unnel ▁approaches ▁on ▁the ▁New ▁Jersey ▁side . ▁ ▁The ▁original ▁proposal ▁for ▁the ▁PR R ▁and ▁L IR R ▁terminal ▁in ▁Mid town , ▁which ▁was ▁published ▁in ▁June ▁ 1 9 0 1 , ▁called ▁for ▁the ▁construction ▁of ▁a ▁bridge ▁across ▁Hudson ▁River ▁between ▁ 4 5 th ▁and ▁ 5 0 th ▁Stre ets ▁in ▁Manh attan , ▁as ▁well ▁as ▁two ▁closely ▁spac ed ▁terminal s ▁for ▁the ▁L IR R ▁and ▁PR R . ▁This ▁would ▁allow ▁passengers ▁to ▁travel ▁between ▁Long ▁Island ▁and ▁New ▁Jersey ▁without ▁having ▁to ▁switch ▁trains . ▁In ▁December ▁ 1 9 0 1 , ▁the ▁plans ▁were ▁modified ▁so ▁that ▁the ▁PR R ▁would ▁construct ▁the ▁North ▁River ▁T unn els ▁under ▁the ▁Hudson ▁River , ▁instead ▁of ▁a ▁bridge ▁over ▁it . ▁The ▁PR R ▁c ited ▁costs ▁and ▁land ▁value ▁as ▁a ▁reason ▁for ▁construct ing ▁a ▁tunnel ▁rather ▁than ▁a ▁bridge , ▁since ▁the ▁cost ▁of ▁a ▁tunnel ▁would ▁be ▁one - third ▁that ▁of ▁a ▁bridge . ▁The ▁North ▁River ▁T unn els ▁themselves ▁would ▁consist ▁of ▁between ▁two ▁and ▁four ▁steel