The upshot of the matter was that Morgan devised a plan for the sale of a large amount of Vanderbilt's stock holdings through private sale in England, and in such a way that the knowledge of such sale would not become public in America.
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
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.
John Moody
Both freight and passenger charges, however, were still maintained at an unprofitable rate, and, after the death of John W. Garrett, the credit of the Baltimore and Ohio continued to decline.
John Moody
For under the Commodore's magic touch the Harlem Railroad for the first time in its long history began to pay dividends at a high rate, and in four years the earnings of the Hudson River property had nearly doubled.
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
By this time Vanderbilt had achieved a great reputation as a man who created values, earned dividends, and invented wealth as if by magic other railroad managers now began... ask him to do with them what he had done with the Harlem and the Hudson River.
John Moody
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