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Author: M. John Lubetkin
Publisher: University of Oklahoma Press
ISBN: 0806182059
Category : Biography & Autobiography
Languages : en
Pages : 399
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Book Description
In 1869, Jay Cooke, the brilliant but idiosyncratic American banker, decided to finance the Northern Pacific, a transcontinental railroad planned from Duluth, Minnesota, to Seattle. M. John Lubetkin tells how Cooke’s gamble reignited war with the Sioux, rescued George Armstrong Custer from obscurity, created Yellowstone Park, pushed frontier settlement four hundred miles westward, and triggered the Panic of 1873. Staking his reputation and wealth on the Northern Pacific, Cooke was soon whipsawed by the railroad’s mismanagement, questionable contracts, and construction problems. Financier J. P. Morgan undermined him, and the Crédit Mobilier scandal ended congressional support. When railroad surveyors and army escorts ignored Sioux chief Sitting Bull’s warning not to enter the Yellowstone Valley, Indian attacks—combined with alcoholic commanders—led to embarrassing setbacks on the field, in the nation’s press, and among investors. Lubetkin’s suspenseful narrative describes events played out from Wall Street to the Yellowstone and vividly portrays the soldiers, engineers, businessmen, politicians, and Native Americans who tried to build or block the Northern Pacific.
Author: M. John Lubetkin
Publisher: University of Oklahoma Press
ISBN: 0806182059
Category : Biography & Autobiography
Languages : en
Pages : 399
Get Book Here
Book Description
In 1869, Jay Cooke, the brilliant but idiosyncratic American banker, decided to finance the Northern Pacific, a transcontinental railroad planned from Duluth, Minnesota, to Seattle. M. John Lubetkin tells how Cooke’s gamble reignited war with the Sioux, rescued George Armstrong Custer from obscurity, created Yellowstone Park, pushed frontier settlement four hundred miles westward, and triggered the Panic of 1873. Staking his reputation and wealth on the Northern Pacific, Cooke was soon whipsawed by the railroad’s mismanagement, questionable contracts, and construction problems. Financier J. P. Morgan undermined him, and the Crédit Mobilier scandal ended congressional support. When railroad surveyors and army escorts ignored Sioux chief Sitting Bull’s warning not to enter the Yellowstone Valley, Indian attacks—combined with alcoholic commanders—led to embarrassing setbacks on the field, in the nation’s press, and among investors. Lubetkin’s suspenseful narrative describes events played out from Wall Street to the Yellowstone and vividly portrays the soldiers, engineers, businessmen, politicians, and Native Americans who tried to build or block the Northern Pacific.
Author: Brendan Hughes
Publisher: Business Expert Press
ISBN: 1637425155
Category : Business & Economics
Languages : en
Pages : 258
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Book Description
This book is useful for those seeking to learn about the history of market crises and individuals that want to learn about protection against downside risks for an investment portfolio. The purpose of this book is not to convince the reader to attempt to anticipate the timing of the next market crash, but rather for the reader to be able to draw parallels (and some contrasts) between the different crises in history. The book reviews case studies related to specific macroeconomic event triggers ranging from COVID-19 to hyperinflation. Readers will come away with extensive knowledge of different market crisis events spread across countries and timelines. The reader will be well versed on important macroeconomic topics such as the history of currencies. Perhaps most importantly, readers will feel better prepared to handle the next market catastrophe. Audiences such as business school students and those that are a part of organizations such as the Chartered Financial Analyst Institute will find this book of interest.
Author:
Publisher:
ISBN:
Category : Frontier and pioneer life
Languages : en
Pages : 408
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Book Description
Author: Alfred Emanuel Smith
Publisher:
ISBN:
Category :
Languages : en
Pages : 866
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Book Description
Author: Ron Paul
Publisher: Cato Institute
ISBN: 0932790313
Category : Business & Economics
Languages : en
Pages : 341
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Book Description
Author: Lee Whittlesey
Publisher: Rowman & Littlefield
ISBN: 1493016660
Category : History
Languages : en
Pages : 337
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Book Description
By 1883 when the rail lines of the Northern Pacific reached the tiny town of Cinnabar, Montana Territory, newspaper and magazine stories of the wonders to be found in Yellowstone National Park had been firing the imaginations of eager potential visitors around the world for a decade. Once the railroad completed that critical bit of their route, the world was poised to actually see the magic of Yellowstone, and the prospect of a trip was no longer just exciting—it was a possibility. It seemed like everyone who could afford the ticket—from middle class residents of New York City to Army Generals William Tecumseh Sherman and Philip Sheridan to President Chester A. Arthur—wanted to ride the train to see Yellowstone . Their jumping off point for their journey into “Wonderland” was the town envisioned by Hugo Hoppe, a raucous Wild West town poised for greatness as the Gateway to all of Yellowstone’s offerings. The town of Cinnabar, Montana, no longer exists, but when it did, it served as the immediate railroad gateway for a generation of visitors to Yellowstone National Park. Visitors passed through its streets from September 1, 1883, through June 15, 1903 This book tells the story of its place in the West, and the legend of the town and its promoters. Its story is one of aspiration and dreams in the American West and its place in the legend and lore of Yellowstone has kept the spirit of Cinnabar alive for more than a hundred years since the town itself faded away.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 896
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Book Description
Author: Aaron Morton Sakolski
Publisher: Ludwig von Mises Institute
ISBN: 1610162986
Category : Land tenure
Languages : en
Pages : 436
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Book Description
Author: Murray Newton Rothbard
Publisher: Ludwig von Mises Institute
ISBN: 1610164350
Category : Banks and banking
Languages : en
Pages : 512
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Book Description
Author: Larry Haeg
Publisher: U of Minnesota Press
ISBN: 145293990X
Category : Transportation
Languages : en
Pages : 452
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Book Description
In 1901, the Northern Pacific was an unlikely prize: a twice-bankrupt construction of the federal government, it was a two-bit railroad (literally—five years back, its stock traded for twenty-five cents a share). But it was also a key to connecting eastern markets through Chicago to the rising West. Two titans of American railroads set their sights on it: James J. Hill, head of the Great Northern and largest individual shareholder of the Northern Pacific, and Edward Harriman, head of the Union Pacific and the Southern Pacific. The subsequent contest was unprecedented in the history of American enterprise, pitting not only Hill against Harriman but also Big Oil against Big Steel and J. P. Morgan against the Rockefellers, with a supporting cast of enough wealthy investors to fill the ballroom of the Waldorf Astoria. The story, told here in full for the first time, transports us to the New York Stock Exchange during the unfolding of the earliest modern-day stock market panic. Harriman vs. Hill re-creates the drama of four tumultuous days in May 1901, when the common stock of the Northern Pacific rocketed from one hundred ten dollars a share to one thousand in a mere seventeen hours of trading—the result of an inadvertent “corner” caused by the opposing forces. Panic followed and then, in short order, a calamity for the “shorts,” a compromise, the near-collapse of Wall Street brokerages and banks, the most precipitous decline ever in American stock values, and the fastest recovery. Larry Haeg brings to life the ensuing stalemate and truce, which led to the forming of a holding company, briefly the biggest railroad combine in American history, and the U.S. Supreme Court ruling against the deal, launching the reputation of Justice Oliver Wendell Holmes as the “great dissenter” and President Theodore Roosevelt as the “trust buster.” The forces of competition and combination, unfettered growth, government regulation, and corporate ambition—all the elements of American business at its best and worst—come into play in the account of this epic battle, whose effects echo through our economy to this day.
