The entire period in the affairs of the Erie system from the ascendancy of Daniel Drew in 1851 to the end of the Civil War witnessed an endless succession of stock-market exploits both large and small.
More Quotes from John Moody:
The nation did not begin to realize the extraordinary possibilities of the vast Western territory until its attention was thus suddenly and definitely concentrated on the Pacific by the annual addition of over fifty million dollars to the circulating medium.John Moody
The construction of extensive railways, however, and particularly the consolidation of small, experimental lines into large systems, dates from the days of the discovery of gold in California.
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
The Santa Fe Route, or the Atchison, Topeka and Santa Fe Railroad, which has in modern times developed into one of the largest and most profitable railroad systems in this country, was projected long before the idea of a transcontinental line to the Pacific coast had taken full possession of men's minds.
John Moody
As late as 1842 a train was started only when sufficient traffic was waiting along the road to warrant the use of the engine.
John Moody
The financial history of the Baltimore and Ohio since the close of the nineteenth century is interesting chiefly in connection with changes in the control of the property.
John Moody
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Based on Topics: Citizenship QuotesBased on Keywords: ascendancy, erie, stock-market
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