The Pennsylvania still continued to forge ahead... to about 1889, when the trunk lines were aggressively carrying on that policy of cutthroat competition between Chicago and the Atlantic seaboard which resulted in so severely weakening the credit and position of properties like the Baltimore and Ohio and the Erie.
More Quotes from John Moody:
But the great miracle of the nineteenth century-the building of a new nation... and diffusing among them the necessities and comforts of civilization to a greater extent than the world had ever known before is explained by the development of harvesting machinery and of the railroad.John Moody
Carrying out this policy of promoting harmony among competing lines, the New York Central and Pennsylvania Railroad early in 1900 acquired a working control of the Reading Company, which in turn controlled the New Jersey Central and dominated the anthracite coal traffic.
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
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
Practically no railroad, even as late as the sixties, was wider than another. They were all single-tracked lines.
John Moody
In this wise the Commodore not only added millions to his already growing fortune but also made himself a power in the financial world.
John Moody
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Based on Topics: Property QuotesBased on Keywords: cutthroat, erie, seaboard
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