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Letter "J" » John Moody Quotes
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«By 1885 the Vanderbilt lines had grown in extent and importance far beyond any point of which the elder Vanderbilt had ever dreamed.»
Author: John Moody
«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.»
Author: John Moody
«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.»
Author: John Moody
«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.»
Author: John Moody
«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.»
Author: John Moody
«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.»
Author: John Moody
«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.»
Author: John Moody
«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.»
Author: John Moody
«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.»
Author: John Moody
«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.»
Author: John Moody
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