The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy

Harriman and Schiff pressed for the allowance of a one-third interest in the Burlington for the UP, to achieve a soothing community of interest. The Morgan-Hill forces turned them down flat. Such an accommodation, they purred, might represent an illegal “restraint of trade” under federal statute. To understand the fierce struggle that now erupted,

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At the time, of course, no one could know the potential value of these securities. On the face of it, the associates had laid out a total of $10 to $11 million and become primary owners of a corporation capitalized at $31,486,000. As the road developed under expert management, though, it naturally increased sharply in value and earned handsome prof

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Pacific Bill.” As it passed parliament in February 1881, the legislation authorized the Canadian Pacific Railroad to link with the Canada Central Railway at Callander, near Georgian Bay, and to run westward to some Pacific port in British Columbia. Generously subsidized with $25 million in direct support and a twenty-five-million-acre, checkerboard

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So in August 1885, Kennedy arranged the sale of twenty thousand shares of Manitoba stock to the firm of Lee, Higginson, and Company, as agents for the Bostonians. The four associates—Hill, Kennedy, Smith, and Stephen—put up the stock for sale; soon after, Hill and Kennedy made similar purchases of Burlington stock. Marshall Field, who had never bee

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