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To Americans living in the early twentieth century, E. H. Harriman was as familiar a name as J. P. Morgan, John D. Rockefeller, and Andrew Carnegie. Like his fellow businessmen, Harriman (1847-1909) had become the symbol for an entire industry: Morgan stood for banking, Rockefeller for oil, Carnegie for iron and steel, and Harriman for railroads. Here, Maury Klein offers the first in-depth biography in more than seventy-five years of this influential yet surprisingly understudied figure. A Wall Street banker until age fifty, Harriman catapulted into the railroad arena in 1897, gaining control of the Union Pacific Railroad as it emerged from bankruptcy and successfully modernizing every aspect of its operation. He went on to expand his empire by acquiring large stakes in other railroads, including the Southern Pacific and the Baltimore and Ohio, in the process clashing with such foes as James J. Hill, J. P. Morgan, and Theodore Roosevelt. With its new insights into the myths and controversies that surround Harriman's career, this book reasserts his legacy as one of the great turn-of-the-century business titans. Originally published 2000. A UNC Press Enduring Edition -- UNC Press Enduring Editions use the latest in digital technology to make available again books from our distinguished backlist that were previously out of print. These editions are published unaltered from the original, and are presented in affordable paperback formats, bringing readers both historical and cultural value.
By any account, Edward Henry Harriman was a fascinating individual and a titan of the railroad industry. What Rockefeller was to oil, Harriman was to railroads. By his death Harriman controlled the Union Pacific, the Southern Pacific, the Saint Joseph and Grand Island, the Illinois Central, the Central of Georgia, the Pacific Mail Steamship Company, and the Wells Fargo Express Company. Even by today's standards, he was a fabulously wealthy and powerful individual. In this long out of print biography of Harriman, author Kenan (cousin to the younger George Kennan) reveals the intricate power-plays that resulted in Harriman's control of properties and vast interests. He was interested in science and even learned ju-jitsu after a trip to Japan. Naturalist John Muir said of Harriman that he was worthy of admiration in almost every way. For the first time, Vol. I and II of this long out-of-print book are available together in an affordable, well-formatted edition for e-readers and smartphones. Be sure to LOOK INSIDE or download a sample. Excerpt: "One day [says Mr. Kruttschnitt] I was walking with Mr. Harriman on the road. He noticed a track bolt and asked me why so much of the bolt should protrude beyond the nut. I replied, " It is the size which is generally used." He said, "Why should we use a bolt of such a length that a part of it is useless?" I replied, " Well, when you come right down to it, there is no reason." We walked along and he asked me how many track bolts there were to a mile of track, and I told him. Thereupon he remarked, "Well, in the Union Pacific and Southern Pacific we have about eighteen thousand miles of track and there must be some fifty million track bolts in our system. If you can cut an ounce off from every bolt, you will save fifty million ounces of iron, and that is something worth while. Change your bolt standard."
Set in 1905, against a backdrop of magnificence, excess and corrupting glamour, After the Ball's themes are stunningly fresh: greed and chicanery, flawed love between fathers and sons, and contradictory American attitudes about wealth. Glamorous, cultured and ambitious - but fatally young and naïve - James Hazen Hyde was twenty-three when he inherited the majority shares in the billion-dollar Equitable Life Assurance Society in 1899. Five years later, at the pinnacle of social and financial success, he made a fatal miscalculation, and set in motion the first great Wall Street scandal of the twentieth century. On the last night of January 1905, Hyde gave one of the most fabulous balls of the Gilded Age. Falsely accused of charging the party to his company, he was sucked into a maelstrom of allegations of corporate malfeasance that involved the era's most famous financiers and industrialists. “Wonderfully foreboding...exactly on pitch...a textured and compelling tragedy”—USA Today
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.
From Pulitzer Prize-winner Michael Hiltzik, the epic tale of the clash for supremacy between America's railroad titans.
Vanderbilt, Hill, Morgan, and Harriman were America's industrial princes, planning to link American railroads and a shipping cartel with a railroad line through China and Russia, then into Europe, and create: the Transportation Kings. Poised for great accomplishment, their story ends in the sinking of the Titanic and bitter failure.
In 1899, one of America's wealthiest men assembled an interdisciplinary team of experts--many of whom would become legendary in their fields--to join him, entirely at his expense, on a voyage to the largely unknown territory of Alaska. The Harriman Expedition remains unparalleled in its conception and execution. This book follows the team closely: where they went, what they did, and what they learned--including finding early evidence of glacial retreat, assessing the nature and future of Alaska's natural resources, making important scientific discoveries, and collecting an astonishing collection of specimens. A second thread involves the lives and accomplishments of the members of the party, weaving biographical strands into the narrative of the journey and the personal experiences they shared. This is the first comprehensive, scholarly treatment of the Harriman Alaska Expedition since the 1980s. It features the diaries, letters home, and post-Expedition writings, including unpublished autobiographies, generated by the members of the party.
Based on the memoirs and correspondence of Luther Sage "Yellowstone" Kelly (1849-1928), this first full-length biography offers a comprehensive look at a remarkable man who knew the frontier of the American West and recorded his impressions of that time and place with a fluid, literary pen.
An impressive set of books on the Industrial Revolution, these comprehensive volumes cover the history of steam shipping, iron and steel production, and railroads—three interrelated enterprises that helped shift the Industrial Revolution into overdrive. The first set of volumes in ABC-CLIO's breakthrough Industrial Revolution in America series features separate histories of three closely related industries whose maturation fueled the Industrial Revolution in the United States during the late 19th and 20th centuries, fundamentally changing the way Americans lived their lives. With this set, students will learn how the steamship—the first great American contribution to the world's technology—helped turn the nation's waterways into a forerunner of our superhighways; how the Andrew Carnegie–led American steel industry surpassed its British rivals, marking a momentous power shift among industrialized nations; and how the railroads, spurred by some of the United States's most dynamic entrepreneurs (Cornelius Vanderbilt, John Pierpont Morgan, Jay Gould), moved from a single transcontinental link to become the most influential and far-reaching technological innovation of the Industrial Age, extending into virtually every facet of American culture and commerce.
What were the economic roots of modern industrialism? Were labor unions ever effective in raising workers' living standards? Did high levels of taxation in the past normally lead to economic decline? These and similar questions profoundly inform a wide range of intertwined social issues whose complexity, scope, and depth become fully evident in the Encyclopedia. Due to the interdisciplinary nature of the field, the Encyclopedia is divided not only by chronological and geographic boundaries, but also by related subfields such as agricultural history, demographic history, business history, and the histories of technology, migration, and transportation. The articles, all written and signed by international contributors, include scholars from Europe, Latin America, Africa, and Asia. Covering economic history in all areas of the world and segments of ecnomies from prehistoric times to the present, The Oxford Encyclopedia of Economic History is the ideal resource for students, economists, and general readers, offering a unique glimpse into this integral part of world history.