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James Jerome Hill was a Canadian-American railroad director. He was the chief executive officer of a family of lines headed by the Great Northern Railway, which served a substantial area of the Upper Midwest, the northern Great Plains, and Pacific Northwest. Because of the size of this region and the economic dominance exerted by the Hill lines, Hill became known during his lifetime as "The Empire Builder".
The Great Northern Railway was an American Class I railroad. Running from Saint Paul, Minnesota, to Seattle, Washington, it was the creation of 19th-century railroad entrepreneur James J. Hill and was developed from the Saint Paul & Pacific Railroad. The Great Northern's route was the northernmost transcontinental railroad route in the U.S.
John Pierpont Morgan was an American financier and banker who dominated corporate finance on Wall Street throughout the Gilded Age. As the head of the banking firm that ultimately became known as J.P. Morgan and Co., he was the driving force behind the wave of industrial consolidation in the United States spanning the late 19th and early 20th centuries.
The Timeline of U.S.A Railway History depends upon the definition of a railway, as follows: A means of conveyance of passengers and goods on wheeled vehicles running on rails, also known as tracks.
BNSF Railway is the largest freight railroad network in North America. One of nine North American Class I railroads, BNSF has 41,000 employees, 32,500 miles (52,300 km) of track in 28 states, and more than 8,000 locomotives. It has three transcontinental routes that provide rail connections between the western and eastern United States. BNSF trains traveled over 169 million miles in 2010, more than any other North American railroad.
The Burlington Northern Railroad was a United States-based railroad company formed from a merger of four major U.S. railroads. Burlington Northern operated between 1970 and 1996.
The Northern Pacific Railway was a transcontinental railroad that operated across the northern tier of the western United States, from Minnesota to the Pacific Northwest. It was approved by Congress in 1864 and given nearly forty million acres of land grants, which it used to raise money in Europe for construction.
The Chicago, Burlington and Quincy Railroad was a railroad that operated in the Midwestern United States. Commonly referred to as the Burlington Route, the Burlington, or as the Q, it operated extensive trackage in the states of Colorado, Illinois, Iowa, Missouri, Nebraska, Wisconsin, Wyoming, and also in Texas through subsidiaries Colorado and Southern Railway, Fort Worth and Denver Railway, and Burlington-Rock Island Railroad. Its primary connections included Chicago, Minneapolis–Saint Paul, St. Louis, Kansas City, and Denver. Because of this extensive trackage in the midwest and mountain states, the railroad used the advertising slogans "Everywhere West", "Way of the Zephyrs", and "The Way West".
Wooden railroads, called wagonways, were built in the United States starting from the 1720s. A railroad was reportedly used in the construction of the French fortress at Louisburg, Nova Scotia, in New France in 1720. Between 1762 and 1764, at the close of the French and Indian War (1756–1763), a gravity railroad is built by British military engineers up the steep riverside terrain near the Niagara River waterfall's escarpment at the Niagara Portage in Lewiston, New York.
The Spokane, Portland & Seattle Railway (SP&S) was a railroad in the northwest United States. Incorporated in 1905, it was a joint venture by the Great Northern Railway and the Northern Pacific Railway to build a railroad along the north bank of the Columbia River. Remnants of the line are currently operated by BNSF Railway and the Portland and Western Railroad.
Ralph Budd was an American railroad executive.
George Walbridge Perkins I was an American politician and businessman. He was a leader of the Progressive Movement, especially Theodore Roosevelt's presidential candidacy for the Progressive Party in 1912.
John Warne Gates, also known as "Bet-a-Million" Gates, was an American Gilded Age industrialist and gambler. He was a pioneer promoter of barbed wire. He was born and raised in what is now West Chicago, Illinois. He did not enjoy farm life and began offering neighbors various business propositions at an early age, including the sale of firewood to homes and to the local railroad. When he started a local grain brokerage that failed, Gates began spending time at the local railroad station and became reacquainted with the men he previously sold firewood to. He was invited to join their poker games and through this, Gates' aptitude for cards and other games of chance was developed.
The Panic of 1901 was the first stock market crash on the New York Stock Exchange, caused in part by struggles between E. H. Harriman, Jacob Schiff, and J. P. Morgan/James J. Hill for the financial control of the Northern Pacific Railway. The stock cornering was orchestrated by James Stillman and William Rockefeller's First National City Bank financed with Standard Oil money. After reaching a compromise, the moguls formed the Northern Securities Company. As a result of the panic, thousands of small investors were ruined.
Charles Sanger Mellen was an American railroad man whose career culminated in the presidencies of the Northern Pacific Railway (1897-1903) and the New York, New Haven and Hartford Railroad (1903-1913). His goal, along with the New Haven's financier J. P. Morgan, was to consolidate, electrify and modernize all the main railroads of New England, so as to lower competition and produce higher profits. The result of his abrasive tactics alienated public opinion, led to high prices for acquisitions and costly construction; the accident rate soared when efforts were made to save on maintenance costs. Debt soared from $14 million in 1903 to $242 million in 1913, when it was hit by an antitrust lawsuit by the federal government on the charge of monopolizing New England's rail traffic. He was called, "The last of the railway czars."
Northern Securities Co. v. United States, 193 U.S. 197 (1904), was a case heard by the U.S. Supreme Court in 1903. The Court ruled 5 to 4 against the stockholders of the Great Northern and Northern Pacific railroad companies, who had essentially formed a monopoly, and to dissolve the Northern Securities Company.
The Gould transcontinental system was a system of railroads assembled by George Jay Gould I and the Fuller Syndicate in the early 1900s. This was Gould's attempt to fulfill a goal of his late father, financier Jay Gould. Due to financial troubles following the Panic of 1907, the system was never completed as a fully transcontinental line.
Charles Elliott Perkins was an American businessman and president of the Chicago, Burlington and Quincy Railroad. He was so well respected that historian Richard Overton wrote, "From the time that Charles Elliott Perkins became vice president of the Chicago, Burlington and Quincy [1876] ... until he resigned as president in 1901, he was the Burlington."
The history of United States antitrust law is generally taken to begin with the Sherman Antitrust Act 1890, although some form of policy to regulate competition in the market economy has existed throughout the common law's history. Although "trust" had a technical legal meaning, the word was commonly used to denote big business, especially a large, growing manufacturing conglomerate of the sort that suddenly emerged in great numbers in the 1880s and 1890s. The Interstate Commerce Act of 1887 began a shift towards federal rather than state regulation of big business. It was followed by the Sherman Antitrust Act of 1890, the Clayton Antitrust Act and the Federal Trade Commission Act of 1914, the Robinson-Patman Act of 1936, and the Celler-Kefauver Act of 1950.
References
- ↑ Lawrence Meir Friedman (2004). American Law in the 20th Century. Yale UP. p. 56. ISBN 978-0300102994.
- ↑ Nomi Prins (2014). All the Presidents' Bankers: The Hidden Alliances that Drive American Power. Nation Books. p. 6. ISBN 9781568587493.