Consequently many large railroad systems of heavy capitalization bid fair to run into difficulties on the first serious falling off in general business.
More Quotes from John Moody:
The financial condition of the Erie at this time manifested the beginning of that general policy of improvidence and recklessness which afterward, for nearly a generation and a half, made the company a speculative football in some of the most disreputable games of Wall Street stock-jobbers.John Moody
Railroads had been operating for many years in this country before it dawned upon the farmers that this great improvement, which many had hailed as his greatest friend, might be his greatest enemy.
John Moody
The idea of connecting the waters of the Chesapeake with those of the Ohio had been broached by George Washington before the Revolution, and he had also prophesied the union of the Hudson and Lake Erie by canal.
John Moody
The roads that now make up the New York Central were built piecemeal from 1831 to 1853 and the organization of this company in the latter year, to consolidate eleven independent roads extending from Albany to Buffalo, finally put an end to the long debate between canals and railroads.
John Moody
I really don't believe it's time for panic, ... I think cool heads need to prevail.
John Moody
In 1862, when the charter was granted by the United States Government for the construction of a railroad from Omaha to the Pacific coast, the only States west of the Mississippi Valley in which any railroad construction of importance existed were Iowa and Missouri.
John Moody
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Based on Topics: Business & Commerce QuotesBased on Keywords: bid, capitalization
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James Talent
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