Cornelius Vanderbilt

Erie War Escalates - Gould and Fisk Flee to Jersey with $7 Million in Watered Stock

1868-03-04 00:00:00 +0000 UTC | Importance: 9/10

The Erie War reached its climax in early March 1868 when Jay Gould, James Fisk, and Daniel Drew, facing arrest warrants from Judge George Barnard after issuing $5 million in fraudulent Erie Railroad stock, fled across the Hudson River to Jersey City with $7 million in cash and watered stock …

Jay Gould James Fisk Daniel Drew Cornelius Vanderbilt Erie Railroad +2 more corporate-fraud stock-manipulation political-corruption gilded-age railroad-consolidation

Vanderbilt Consolidates New York Central Railroad - Creates First Giant Railroad System

1867-01-01 00:00:00 +0000 UTC | Importance: 8/10

In 1867, Cornelius Vanderbilt gained control of the New York Central Railroad after driving down its stock price, then combined it with his New York and Harlem Railroad and Hudson River Railroad to create one of the first giant railroad consolidations in American history. Vanderbilt had entered the …

Cornelius Vanderbilt New York Central Railroad Hudson River Railroad Harlem Railroad railroad-consolidation corporate-power gilded-age monopoly infrastructure-capture