This sign in the Herald Square subway station in New York City in October 2021 presents historic alternatives that now operate under different names: "BMT" refers to the former Brooklyn-Manhattan Transit Corporation, now fully incorporated into the City's subway system; H&M, standing for "Hudson and Manhattan" has become the PATH (Port Authority Trans-Hudson) system; and the "Penn RR", as in nearby Penn Station, named for its builder/owner the Pennsylvania Railroad, has morphed into Amtrak and New Jersey Transit (and in any case, the Long Island Rail Road, long a tenant in the station received no billing then, or now, at least as far as this sign is concerned).
