In this wise the Commodore not only added millions to his already growing fortune but also made himself a power in the financial world.
More Quotes from John Moody:
While no one railroad can completely duplicate another line, two or more may compete at particular points.John Moody
The Vanderbilt family no longer possesses a majority interest in the stock, or anything which approaches it, and the New York Central system and its subsidiaries have come to be known more and more as Morgan properties.
John Moody
The panic of 1837, the contest of the United States Bank with President Jackson, its defeat, and its subsequent failure as a state bank, the consequent distress in local financial circles--all conspired to shift the monetary center of the country to New York.
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
Consequently many large railroad systems of heavy capitalization bid fair to run into difficulties on the first serious falling off in general business.
John Moody
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