The NYC subways were built and operated by private companies in the late 19th and early 20th century (you can still see where the different companies had service because they built infrastructure that is stupid unless you are trying to compete with someone else). The city did regulate prices to too low to pay for ongoing maintenance, but otherwise did not control the subways. Of course that lack of maintenance did mean they eventually had a system they couldn't run at and they sold out cheap, but that was the mid 20th century.