Times were not the best, however, and, although much traffic was developed, the immense cost of the extensions heavily burdened the Baltimore and Ohio Company, while the panic of 1857 seriously embarrassed its credit.
More Quotes from John Moody:
In the decade before the Civil War various north and south lines of railway were projected and some of these were assisted by grants of land from the Federal Government.John Moody
The railroad, they said, was a natural monopoly no private citizen could hope ever to own one it was thus a kind of monster which, if encouraged, would override all popular rights.
John Moody
While no one railroad can completely duplicate another line, two or more may compete at particular points.
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
It popped out of the ground because of the water pressure.
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
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