John Moody
John Moody
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The roads that now make up the New York Central were built piecemeal from 1831 to 1853; and the organization of this company in the latter year, to consolidate eleven independent roads extending from Albany to Buffalo, finally put an end to the long debate between canals and railroads.
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Carrying out this policy of promoting harmony among competing lines, the New York Central and Pennsylvania Railroad early in 1900 acquired a working control of the Reading Company, which in turn controlled the New Jersey Central and dominated the anthracite coal traffic.
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The Vanderbilt family no longer possesses a majority interest in the stock, or anything which approaches it, and the New York Central system and its subsidiaries have come to be known more and more as Morgan properties.
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We've had games where we've strung together hits and scored bunches of runs, but I guess the law of averages caught up with us tonight.
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It basically broke in half. It was a shock to see.
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We paid off our loan and had some extra dollars to do some other things. And we love our new pool.
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What we try to do is not shut out any points of view.
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The opening of the Erie Canal to New York in 1825 stimulated other cities on the Atlantic seaboard to put themselves into closer commercial touch with the West.
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The panic of 1837, the contest of the United States Bank with President Jackson, its defeat, and its subsequent failure as a state bank, the consequent distress in local financial circles--all conspired to shift the monetary center of the country to New York.
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Having obtained control of the New York Central, the Hudson River, and the Harlem railroads, Commodore Vanderbilt now decided in the summer of 1867 to go after the Erie, of which Drew was nominally in possession, although no one knew when he owned a majority of the stock or when he was temporarily short of it.
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The name of Alexander J. Cassatt will always be linked with the comprehensive terminal developments in the region of New York City which were begun almost immediately on his accession to the presidency and which were carried forward on bold and far-reaching lines.
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The old saying that capital is the most timid thing in the world and does not like pioneering is strongly emphasized by such instances as this, and no doubt in 1864 the enormous grants of free land made by Congress did not appear especially attractive to the man who had money to invest.
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Federal railroad regulation... had steadily increased through the years; the Sherman Anti-trust Act, passed in 1890, had been interpreted broadly as affecting the railroads of the country as well as the industrial and other combinations.
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The remarkable character of this achievement is evident in view of the fact that in the period from 1893 to 1898 more than sixty-five per cent of all the railroad mileage in the United States went into the hands of receivers.