What became of the Lackawanna Tunnel Railroad Company?

I was browsing the NY Times archives, and came across an October 1904 article that said the DL&W had chartered the Lackawanna Tunnel Railroad Company, which was empowered to dig a tunnel between NY and NJ. The article said the tunnel was anticipated to be mostly for passengers, but freight was not ruled out.
Obviously, no tunnel got built.
Anyone know what happened?

Was this possibly one of the oft begun, never finished (since 1874) attempts to cross the North River that was eventually taken over and finished by McAdoo for the H&M circa 1908? And wasn't there also a plan by the Erie to have a passenger train tunnel to lower Manhattan from Pavonia at one time?

Railroad companies often got charters for other companies to do construction, thus the name. Thus the Lackawanna of NJ was formed as a construction company to build the Cut Off as were others for other sections. So this is probably a DL&W company. Does the article give names or references?

Article was short and didn't give names, except to say that Truesdale was president. (He was DL&W pres at the time.) The company was capitalized at a nominal $300,000.
In 1871 the Lackawanna had gotten an injunction against the first builders of the Hudson tunnels. However, by 1904 the McAdoo construction was well under way, and the New Jersey shaft was on property owned by the Lackawanna. So, I had thought that the Lackawanna had accepted McAdoo's H&M.

Then a check of Taber's Twentieth Century, Vol. 1 is in order.

Taber (Vol 1, p.25) mentions the Lackawanna Tunnel Railroad but doesn't elaborate much. I guess in those days railroads started lots of companies "just in case..."

Oh, yeah.