Hudson River Railroad

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