Who Owned The Railroads I Made The Most Money In The 19th Century On The River
Railroad Tycoons Of The 19th Century
Last revised March 28, 2022
Past: Adam Burns
Railroad tycoons were the early industrial pioneers amassing or overseeing construction of many large railroads through the early 20th century.
These men, names similar James Hill, Jay and George Gould, Cornelius Vanderbilt, Edward Harriman, and Collis P. Huntington are largely responsible for building much of the country's network.
Their power and influence brought about archetype systems like the New York Cardinal, Union Pacific, Chesapeake & Ohio, Missouri Pacific, Wabash, and Nifty Northern.
Despite their visionary leadership these barons came under intense scrutiny for their [at least perceived] ruthless nature and wanton condone for public safety, all in the proper noun of greater profits.
This perception led to the industry's considerable regulation post-obit passage of three notable bills; the Elkins Act of 1903, Hepburn Human action of 1906, and Mann-Elkins Act of 1910.
Each, in different ways, considerably expanded the Interstate Commerce Commission's (ICC) power over the railroads, which ultimately led to many failures through the 1970's.
Union Pacific DDA40X "Centennial" #6913 and SD40-2 #3585 hustle trailers westbound over Sherman Loma at Speer, Wyoming on Baronial 8, 1984. Mike Bledsoe photo. American-Rails.com drove.
The Railroad Tycoons
1 of the offset and best remembered tycoons was Cornelius Vanderbilt, improve known as the "Commodore." Vanderbilt was the classic entrepreneur, he never attended college and did not even end public school, dropping out at the historic period of xi.
At showtime he worked with his male parent and then launched his own ferry service between Staten Island and New York Metropolis at the young age of sixteen.
He quickly succeeded at this endeavor and pushed for even greater heights, entering the steamboat business in 1829 by launching service between New York Metropolis and Peekskill.
This earned him the nickname "Commodore," where he became legendary as a no-nonsense businessman.
Every bit his success blossomed he eyed the railroad industry and in 1863 took command of the New York & Harlem. He oversaw significant growth of the NY&H and laid its time to come foundations as a world-course carrier.
He changed the railroad's name to the New York Central & Hudson River when he merged the original New York Central with his own Hudson River Railroad. He continued stringing together properties, including the Lake Shore & Michigan Southern, until reaching Chicago.
Chicago, Burlington & Quincy 4-8-iv #5632 (Class O-5B) sits in a weed-covered siding while hosting excursions at Longmont, Colorado in Baronial, 1963. American-Rails.com collection.
Of course, Vanderbilt was non the only tycoon. Another noteworthy businesswoman was Collis Huntington, part of the fabled "Big Four" that helped build the Central Pacific.
The CP was the western leg of the Transcontinental Railroad, formed on July one, 1862 when the Pacific Railroad Deed was signed into law past President Abraham Lincoln.
This legislation had created Spousal relationship Pacific to begin structure west from Omaha/Quango Bluffs and the CP would strike out eastward from Sacramento.
Interestingly, Central Pacific was already a corporate entity, organized by Huntington, Mark Hopkins, Leland Stanford, and Charles Crocker (the so-called "Large Four") on June 28, 1861.
It was directed to "construct a railroad and telegraph line from the Pacific coast, at or near San Francisco, or the navigable waters of the Sacramento River, to the eastern boundary of California."
With the passage of the Pacific Railroad Deed the CP'southward task was broadened after it adopted the understanding on Oct 7th and formally accepted it through the Department of the Interior on December 24th.
The railroad'south groundbreaking took place on January 8, 1863 at Yard Street in Sacramento along the Sacramento River waterfront.
It faced a difficult proposition in trying to hack out a correct-of-mode through the impenetrable Sierra Nevada mountain range, made all the more arduous by the lack of mechanized equipment; surveyors had to literally scale cliffs in finding a suitable grade while laborers used picks, shovels, and dynamite to form a roadbed.
In May of 1868 the line over Donner Laissez passer was completed according to Brian Solomon's book, "Southern Pacific Railroad" (Andover Junction Publications, 2007).
Focus this turned to completing the line across the relatively apartment deserts of northern Nevada and Utah. During a formal anniversary held with Spousal relationship Pacific at Promontory Elevation, Utah on May x, 1869 the Transcontinental Railroad was deemed complete.
Following this result, it was not long earlier Huntington and his associates were eyeing other endeavors. During Dec of 1865 the Southern Pacific Railroad was incorporated to build from San Francisco to San Diego via Los Angeles.
A parade of Santa Fe power, led by GP30 #3224, winds its way over Tehachapi with a westbound freight at Caliente, California, circa 1970. The railroad train is crossing Bealville Road and will presently enter the pocket-sized town on its fashion towards Bakersfield. American-Track.com collection.
Hoping to eliminate the competition the "Big Four" had acquired the fledgling SP by 1870. In time the Central Pacific was slowly integrated into the Southern Pacific as the latter organisation expanded eastward, northward, and s (SP formally leased the CP on Apr one, 1885 while it remained a corporate entity until June 30, 1959).
Southern Pacific eventually went on to get one of our state's great railroads, operating an astounding 15,000+ mile network (including subsidiary St. Louis Southwestern Railway, "The Cotton fiber Belt") reaching Texas, Louisiana, St. Luis, Salt Lake City, and Portland.
It operated three principal routes (the "Sunset Route," "Overland Road," and "Gold State Route"), moved every type of freight imaginable, and maintained high-class passenger trains like theGilded Country,Dusk Limited, andCoast Daylight.
While the SP is regarded as Huntington'southward greatest accomplishment he as well helped rejuvenate the Chesapeake & Ohio projection, transforming it into i of the eastward'due south most successful coal haulers that stretched from Chicago to Newport News, Virginia.
Another of the greats was James J. Loma, the so-called "Empire Builder." He became a legend within the company he created, the Dandy Northern Railway, establishing information technology as ane of the Westward's premier systems.
Santa Fe RSD15 #838 lays over in Argentine Yard (Kansas) during the tardily 1960s. American-Track.com collection.
Like Vanderbilt, he got his commencement in the steamboat concern then found an opening in the railroad industry when the St. Paul & Pacific failed in 1873.
The StP&P linked St. Paul with the Canadian edge at St. Vincent, Minnesota co-ordinate to Mike Schafer's book, "Classic American Railroads," Loma'south ambitions included opening a new line to the west, similar to the Northern Pacific projection and so underway.
In 1879 he formed the St. Paul, Minneapolis & Manitoba to do simply that, reaching Great Falls, Montana past 1887. Finally, in 1889 he incorporated the Cracking Northern Railway to acquire all of his holdings and by 1893 the GN had reached Seattle.
Santa Fe HH1000 #2312 lays over at the Outset Street K in Los Angeles during the 1960s. This early on Alco switcher was built in June, 1939 and remained on the AT&SF roster until March, 1971. American-Runway.com drove.
Colina was an early proponent of the mega-merger movement, generations before it became reality. At the turn of the 20th century he attempted to merge the GN and Northern Pacific with the Chicago, Burlington & Quincy and Seattle, Portland & Spokane in creating a gigantic transcontinental which stretched across the W.
His dream was denied by the Interstate Commerce Commission but was ultimately canonical decades later in 1970, forming the Burlington Northern (today it is part of the BNSF Railway).
A Mileage Timeline
Near of the barons we know then well today lived from the mid-19th to early 20th centuries. During their time they oversaw much of our country's railroad expansion, growing from just a few thousand miles in 1840 to more than 250,000 by 1916 (the superlative year). Beneath is a timeline between those 2 dates:
1840: 2,808 Miles
1850: ix,021 Miles
1860: 30,000+ Miles
1870: 52,922 Miles
1880: 93,267 Miles
1890: 163,597 Miles
1900: 193,346 Miles
1916: 254,037 Miles
One of the nearly interesting tycoons was George Gould. He was the eldest child of the famed Jay Gould and entered the business at 24, inheriting all of his father's railroad assets.
Never as ambitious or merciless as his Dad, the younger Gould still found successful, overseeing several profitable railroads during his life. His most noteworthy project was attempting to finish his father's legacy in completing a true coast-to-coast railroad.
Using the Missouri Pacific (MoPac), which had fell under Jay's oversight, he partnered with Arthur Keddie in opening the Western Pacific (WP) from Sacramento/San Francisco to Table salt Lake City.
Gould also became involved with the modern Denver & Rio Grande Western, which provided the bridge connection between the MoPac (Pueblo) and WP (Common salt Lake Metropolis).
From there he turned his attention to the Midwest, reviving his father'south quondam stakes in the Wabash Railroad. Finally, in the Mid-Atlantic region he tried to push the Wabash into Pittsburgh via the Wabash-Pittsburgh Terminal.
Rio Grande GP30'southward #3006 and #3017 climb the stiff grades of the Monarch Branch every bit they negotiate the hairpin curve crossing U.S. 50 just westward of Maysville, Colorado on August 24, 1979. A few years after this line was closed. Robert Harmen photo. American-Track.com collection.
Equally Mr. Schafer notes in his book, "More Classic American Railroads," his attempts to attain the Steel Urban center came under fierce opposition against the mighty Pennsylvania Railroad. At the same time he was trying to link the Western Maryland with a point almost Pittsburgh.
The WM was the concluding link in his empire, connecting the port of Baltimore. Alas, Gould overstretched his resources and post-obit the financial Panic of 1907 his hopes died. In 1918 he was forced to sell his avails and passed abroad in 1923 at the age of 59.
While he held millions in debt the tycoon was notwithstanding worth a niggling more than $5 million at the time of his death. Despite being celebrated for the accomplishments they achieved the full general public at the time, and fifty-fifty to some extent today, looked at these businessmen as lacking empathy for the general public, caring for little else than greater profits.
The media too had a field twenty-four hours with this notion as numerous newspapers and cartoons were published throughout the 19th century depicting the villainous nature of railroads and their presidents. To some extent this was true.
Because there was no federal agency in place to oversee or regulate the industry until the late 19th century, railroads largely went on-checked in their endeavors. In addition, with no laws in affect to oversee safer operations many passengers and employees were killed following derailments or collisions.
Rio Grande PA-1 #6003 with the "Royal Gorge" at Cañon Metropolis, Colorado; Jan 7, 1967. Ed Fulcomer photo. American-Rail.com collection.
In whatever upshot, is information technology true that tycoons were truly wretched folks who cared nothing nearly the general public's welfare? Probably not entirely, at least not intentionally for virtually (in the case of James Colina he actually encouraged folks to settle virtually his railroads and even paid to motility them there).
It is just that because there was no regulations in identify railroad executives took advantage of the situation, earning as much money equally they could in the process.
For more information about many of these barons please visit the links above, which also highlights a number of the famed presidents like the Baltimore & Ohio'south Daniel Willard of the 20th century.
The cosmos of the Interstate Commerce Commission (ICC), a result of the Interstate Commerce Deed of 1887, and Condom Appliance Act of 1893 helped to finally bring regulation and oversight to the manufacture.
However, it tin can besides be argued the pendulum swung as well far in the other direction every bit railroads were so heavily regulated during the 20th century that many went broke in the 1970'southward.
Without the railroads, and the well-known individuals which created them, it is safe to say our state would non be the globe leader information technology is today without their contributions.
Yes, we may not have the most advanced high speed rider runway arrangement in the globe but we practise have the almost efficient and advanced freight organization, which is marveled and emulated by other countries.
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Source: https://www.american-rails.com/tycoons.html
Posted by: newmangreste.blogspot.com
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