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,

While sales and leasing of these lands abutting his right-of-way were a windfall, Flagler was always on the lookout for properties that might be developed as resorts, thereby creating an incentive for passengers to ride each new leg of his line. He took to riding his own railroad incognito, the better to scout out likely targets for acquisition wit

They had run up construction and agreement settlement bills that aggregated well over $1 million, above and beyond their Bank of Montreal loan for the deal with the Dutchmen. On the positive side, however, the SP&P First Division showed net profits by the end of the year of well above $500,000, indicating what a vast earning potential it truly

Instead, he and his three key partners advocated and practiced a policy of plowing large percentages of profits directly back into the property, knowing that the best defense against invading railroads was a better-built system that could operate at lower rates.