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To be successful, these aircraft will have to be economically competitive. This machine will carry close to 100 passengers and, with its high horizontal speed and its ability to land in midtown, will provide its passengers with a shortened elapsed point-to-point travel time almost beyond present comprehension. On routes, [[right margin]] $25 [[/right margin]] such as that between New York and Washington or Boston, such a machine would be equivalent to an aircraft flying at 1,000 miles per hour but requiring slow ground transport at each end. Midtown Philadelphia would lie within twenty minutes of New York City. [[right margin]] $12 [[/right margin]] The Terminals for these aircraft will not require large and costly accumulations of real estate; they can easily be imposed on structures and at locations useful for other purposed and will be self-sustaining economically. Their income will also be derived from functions other than those of a transportation transportation terminal. Such a facility already exists on the Pan Am Building. Similar structures will be erected in Brooklyn, Queens, the Bronx, and on Staten Island, as business demands require them.

Just two weeks ago, Mayor Lindsay, in the interests of our expanding economy, announced plans for the city's first major all-purpose terminal for aircraft with vertical flight performance. In addition to handling large volumes of connecting long-haul and short-haul airline passenger traffic, it has been announced that this facility will also function as a parking place and garage for some 2,000 automobiles and as a collection and distribution point for

[[note]] substantial [[note]]

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[[underline]] removed per Smithsonian instructions