Word: railroads
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Dates: during 1920-1929
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...None of the Public's Business!" George F. Baker, having returned from the South, the Hon. Chauncey M. Depew called a meeting to elect a President for the New York Central Railroad.* The new President is Patrick E. Crowley, age 60, who has been railroading for more than forty years...
...almost a century since a charter was granted on Feb. 28, 1826, to the Mohawk & Hudson Railway, to connect the Hudson River with Lake Erie. In 1831 the first train was sent between Albany and Schenectady. In the next few years, there was a huge demand by promoters for railroad charters. Gradually the Hudson-Lake Erie route was built, by seven independent companies. In 1853 these and three additional roads consolidated as "The New York Central Railroad...
...first the trip from New York City to Albany was made always on river steamboats. Presently, however, the Hudson River Railroad, running up the eastern bank, was constructed, as well as one on the western bank. These independent lines were purchased in 1863, after a historic struggle in the stockmarket by Commodore Cornelius Vanderbilt. A few years afterwards, he also acquired the New York Central, and thus consolidated the route to Lake Erie...
...well doubt Henry Ford's supreme ability to earn dividends, or to pay them to himself as a stockholder. But security holders in the Detroit, Toledo & Ironton railroad are not so certain whether the automobile manufacturer is equally enthusiastic about earning interest and dividends for others...
...York stockholders hold about $100,000 par value of the stocks and bonds of Mr. Ford's private railroad; Henry himself holds 95% of the road's bonds and stocks. His diversion of automobile traffic to the D. T. & I. enabled that carrier to roll up net income of $1,786,924 last year, and proportionately heavier profits so far this year...