In 1839, he was appointed as one of the Commissioners to receive subscriptions for the capital stock of the New York and Staten Island Ferry Company, to be incorporated.
A Staten Island Ferry boat was named after him (in service until 1982), as was the US Navy Freighter, the USNS Pvt.
Fay has also completed numerous public art commissions including a suspended glass and steel sculpture for a residential lobby in Philadelphia, a large scale tree sculpture in Puerto Rico, sculptural benches for the New York City Staten Island Ferry Terminal and glass mosaic murals for the Delancey Street – Essex Street New York City subway station.
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In October 1957, four years after North Shore Branch passenger trains ended, a train from Washington crossed the Arthur Kill Vertical Lift Bridge carrying Queen Elizabeth II and Prince Philip to the Staten Island Ferry for a state visit.
The film features a notable opening sequence following Manhattan-bound commuters on the Staten Island Ferry accompanied by Carly Simon's song "Let the River Run", for which she received the Academy Award for Best Song.