E.H. Harriman: Master Railroader

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Beard Books, 2003 - 204 lappuses
1) half title page 2) blank page 3) full title page 4) copyright page Do not put Lightning logo on cover A CD of the complete book is to be furnished to Beard Books upon proof approval.

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Introduction
1
The Harriman Business Career
8
Learning the Business The Illinois Central 18831909
24
Applying the Lessons The Union Pacific 18971909
49
Combining Systems The Southern Pacific 19011909
67
Captain of Finance The Northern Securities Company and Its Aftermath
88
Looting or Improved Management? The Chicago Alton
104
Minor Plays The Kansas City Southern the Baltimore Ohio and the Erie Railroad Company
126
Under Attack The ICC Investigation 19061907
144
Lessons for the 1980s and Beyond
160
NOTES AND REFERENCES
169
BIBLIOGRAPHICAL ESSAY
172
INDEX
183
ABOUT THE AUTHOR
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151. lappuse - ... and the Commission therefore deemed it important to inquire into the reorganization and capitalization of this company. ' Prior to 1898 the Alton road had been for many years under the control of Mr. TB Blackstone, as President, and had paid an average dividend exceeding 8 per cent per annum, and in addition had expended large sums out of earnings in the improvement of its property.
103. lappuse - Certainly, I shall be glad to tell you. Let me think back a minute. I bought most of that stock, many thousand shares of it, in anticipation of the 10% dividend declared August, 1906, some eight years before, mainly in 1898, and I paid all the way from 20 to 30 for it. And I bought more of it in subsequent years, whenever prices were low, many thousand shares more; and all the time while I was accumulating it I anticipated the declaration of that dividend.
148. lappuse - So much for what Mr. Harriman said about me personally. Far more important are the additional remarks he made to you, as you inform me, when you asked him if he thought it was well to see Hearstism and the like triumphant over the Republican Party. You inform me that he told you that he did not care in the least, because those people were crooks and he could buy them ; that whenever he wanted legislation from a State Legislature he could buy it; that he "could buy Congress...
19. lappuse - ... acquisition of any considerable amount of stock, with representation on the board of directors of such railway, unquestionably has the effect of diminishing competition and lessening to that extent its effectiveness. So long as it is the policy of the General Government and of the States to maintain competition between naturally competing lines, the ownership of any stock by one railway in a competing railway should not be permitted, and such lines of railway should be prohibited from having...
170. lappuse - Joseph G. Pyle, The Life of James J. Hill. (Garden City, NY: Doubleday. Page & Company, 1917), 2:141. 4. Carl Snyder, "Harriman: Colossus of Roads," Review of Reviews (January 1907).
149. lappuse - It has been no part of the Harriman policy to permit the properties which were brought under Union Pacific control to degenerate and decline. As railroads, they are better properties to-day — with lower grades, straighter tracks, and more ample equipment — than they were when they came under that control.
3. lappuse - Harriman carrying out her late husband's ideas has most generously presented to the state for a public park 10,000 acres of these lands, together with $1,000,000 in cash.) His real purpose, to which — as I said before — money-making was merely incidental, was to do big constructive things, his real sport was to pit his strength and brain against those of other men or against difficult tasks, his real reward was the consciousness of worthy accomplishment, the sense of mastery, the exercise of...
4. lappuse - Every year he provided one or more entertainments for the youngsters, and, personally, I never knew him to refuse to give work to any one of them whom I could confidently recommend. He was president of the Club during the first eleven years after I became superintendent, and during all those years he never refused anything which I considered of benefit to the boys. If I called at his office, the affairs of the Boys' Club were never once kept waiting, and thousands of the youth of the East Side would...
105. lappuse - ... Alton reorganization, and begins his account of it in the following words: "Practically all of the possible abuses and frauds described in the preceding pages under the caption of stock-watering are found combined in a single instance in recent years — the reorganization of the Chicago & Alton road by the late EH Harriman and his associates during the eight years following...

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