Erie Railroad

J.P. Morgan Railroad Reorganizations Create Consolidated Monopoly Systems

1895-01-01 00:00:00 +0000 UTC | Importance: 9/10

By 1895, following the Panic of 1893 that left one-third of American railroad mileage in receivership, J.P. Morgan had systematically reorganized the nation’s major railroads through a process known as ‘Morganization,’ consolidating competing lines into regional monopolies under …

J.P. Morgan J.P. Morgan & Company Southern Railway Erie Railroad Northern Pacific Railroad banking-consolidation railroad-consolidation corporate-power gilded-age financial-control

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