The Resource Harriman vs. Hill : Wall Street's great railroad war, Larry Haeg

Harriman vs. Hill : Wall Street's great railroad war, Larry Haeg

Label
Harriman vs. Hill : Wall Street's great railroad war
Title
Harriman vs. Hill
Title remainder
Wall Street's great railroad war
Statement of responsibility
Larry Haeg
Creator
Subject
Genre
Language
eng
Summary
" 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. "--
Assigning source
Provided by publisher
Biography type
collective biography
Cataloging source
DLC
Dewey number
385/.1097309041
Government publication
government publication of a state province territory dependency etc
Illustrations
illustrations
Index
index present
LC call number
HE2752
LC item number
.H34 2013
Literary form
non fiction
Nature of contents
bibliography
Harriman vs. Hill : Wall Street's great railroad war, Larry Haeg
Label
Harriman vs. Hill : Wall Street's great railroad war, Larry Haeg
Publication
Related Contributor
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Bibliography note
Includes bibliographical references (pages 351-363) and index
Carrier category
volume
Carrier MARC source
rdacarrier
Content category
text
Content type MARC source
rdacontent
Contents
Preface -- Dramatis Personae, 1901 -- Introduction: A Railroad World -- 1. Mr. Morgan and Mr. Hill -- 2. Mr. Harriman and Mr. Schiff -- 3. The End of the "Days of Small Things" -- 4. The Battle for the Burlington -- 5. "Peacemakers" Arming for Combat -- 6. "The Weak Link in Your Chain" -- 7. The Consequences of a "Hostile Act" -- 8. Decision at Temple Emanu-El -- 9. "Hell is Empty and All the Devils are Here" -- 10. Northern Insecurities -- 11. The "Big Stick" -- 12. A Thunderbolt out of the Blue -- 13. Great Cases and Bad Law -- Epilogue: The Last Corner -- Appendixes: Supreme Court of the United States, no. 277, Northern Securities Company vs. The United States: Excerpts of Dissenting Opinion by Associate Justice Oliver Wendell Holmes (March 14, 1904); North American Railroads, 1901; Wall Street Primer, 1901
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https://secure.syndetics.com/index.aspx?type=xw12&client=selcp&isbn=9780816683642&upc=&oclc=/LC.JPG
Dimensions
24 cm
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Extent
xvi, 375 pages
Isbn
9780816683642
Lccn
2013027118
Media category
unmediated
Media MARC source
rdamedia
Other physical details
illustrations
System control number
ocn856075963

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