113 ordspråk av John Moody

John Moody

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Practically no railroad, even as late as the sixties, was wider than another. They were all single-tracked lines.

In 1919 the entire property, including controlled lines, embraced more than 13,000 miles of main track, besides about 5000 miles of extra tracks; over 200,000 freight cars are in use on the system, and every year upwards of 200,000,000 tons of freight are transported.

Yet, in 1850 nearly all the railroads in the United States lay east of the Mississippi River, and all of them, even when they were physically mere extensions of one another, were separately owned and separately managed.

By 1885 the Vanderbilt lines had grown in extent and importance far beyond any point of which the elder Vanderbilt had ever dreamed.

The financial condition of the Erie at this time manifested the beginning of that general policy of improvidence and recklessness which afterward, for nearly a generation and a half, made the company a speculative football in some of the most disreputable games of Wall Street stock-jobbers.

The period of six years following the consolidation of 1853 was one of great prosperity for the New York Central system, and, notwithstanding the setbacks to business caused by the panic of 1857, large dividends were continuously paid on the capita stock.

In the earlier days of railroading, and especially in the long period which came to an end with the death of Harriman, the typical railroad president was usually a man of great wealth who had secured his position by owning a large financial interest in the property.

The subsequent history of the Vanderbilt lines is chiefly a story of business expansion and growth. From 1885 to 1893, the great panic year, the New York Central each year added to its mileage, either by merger of smaller lines or by construction.

In 1831, steam locomotives were tested, and one of them, the York, was found capable of conveying fifteen tons at the rate of fifteen miles an hour on level portions of the road.

For many years following 1851, Drew, who owned or controlled nearly one-half the stock of the Erie, appeared to think that his office of treasurer carried with it the right to manipulate the stock of the road at any time it might help his pocketbook to do so.

While the New York Central was in an ideal position for handling all traffic destined for the New England States, the Pennsylvania could control practically none of this business, as its terminals were on the wrong side of the Hudson and necessitated... the much more expensive handling of freight.

If we seek the real predecessor of the modern railroad track, we must go back three hundred years to the wooden rails on which were drawn the little cars used in English collieries to carry the coal from the mines to tidewater.

After the opening of the Erie Canal in 1825, the Legislature of New York directed a survey of a state road which was to be constructed at public expense through the southern tier of counties from the Hudson River to Lake Erie.

In 1862, when the charter was granted by the United States Government for the construction of a railroad from Omaha to the Pacific coast, the only States west of the Mississippi Valley in which any railroad construction of importance existed were Iowa and Missouri.

With the reorganization of 1898 finished, the Baltimore and Ohio Railroad entered a new period in its history.

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