FREE BOOKS

Author's List




PREV.   NEXT  
|<   19   20   21   22   23   24   25   26   27   28   29   30   31   32   33   34   35   36   37   38   39   40   41   42   43  
44   45   46   47   48   49   50   51   52   53   54   55   56   57   58   59   60   61   62   63   64   65   66   67   68   >>   >|  
nati, Chicago and St. Louis--embracing 750 miles of lines westward from Cleveland and Columbus, Ohio, to Indianapolis, Springfield, and Cincinnati, and having traffic connections with St. Louis--was also a Vanderbilt property at this time, although not under the formal control of these interests. Another important competing line secured in this period was the New York, Chicago and St. Louis, built to parallel the Lake Shore and known as the "Nickel Plate" route. This road extended from Buffalo to Chicago, and, like the West Shore, had been constructed with the hope of ultimately selling out to its competitor. The development of railroad properties under the Vanderbilt influence was not confined to the territory east of Chicago and the Mississippi Valley. As early as 1859 a large system of roads had been merged in the section extending westward from Chicago to Omaha and radiating throughout Iowa, Minnesota, Kansas, Wisconsin, Missouri, and other States. This company was known as the Chicago and North Western Railroad, and its property, which was one of large and growing value, by 1886 embraced a system of over 3500 miles of road. Although neither controlled by the New York Central nor directly affiliated therewith, it was classed as a Vanderbilt property. While for many years after the death of the Commodore the Vanderbilt family remained in direct financial and operating control of the New York Central and its myriad of subsidiary lines and their genius as railroad builders and operators was distinctly evident, yet the brains and resources of the Vanderbilts were not alone responsible for the brilliant career of the system down to recent times. William H. Vanderbilt, though a man of unusual ability, did not possess the breadth of view or the sagacity of his father, and in the course of a few years he found himself exposed to a cyclone of public criticism. He had let it be widely known that he was personally the owner of over eighty-seven per cent of the hundred million capital of the company. In 1879 the New York Legislature, backed by the force of the popular anger and surprise at the accumulation of a hundred million dollar fortune by one man in ten years, was investigating the management of the New York Central with a view to curtailing its power; the rate wars were on between the seaboard and Chicago; and Jay Gould was threatening to divert all the traffic of his Wabash, St. Louis, and Pacific lines from the New Y
PREV.   NEXT  
|<   19   20   21   22   23   24   25   26   27   28   29   30   31   32   33   34   35   36   37   38   39   40   41   42   43  
44   45   46   47   48   49   50   51   52   53   54   55   56   57   58   59   60   61   62   63   64   65   66   67   68   >>   >|  



Top keywords:

Chicago

 

Vanderbilt

 

property

 

system

 

Central

 

company

 

railroad

 
hundred
 

million

 

traffic


westward
 

control

 

genius

 
breadth
 

possess

 

unusual

 

ability

 
sagacity
 

exposed

 

myriad


subsidiary

 

father

 

resources

 

Vanderbilts

 
connections
 
brains
 

distinctly

 

evident

 

builders

 

responsible


cyclone

 
William
 
recent
 

brilliant

 

career

 
operators
 

criticism

 

curtailing

 

management

 

investigating


accumulation

 

dollar

 
fortune
 

Wabash

 

Pacific

 

divert

 
threatening
 
seaboard
 
surprise
 
personally