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10 Cards in this Set

  • Front
  • Back
Cornelius Vanberbilt
- Also known as "Commodore" Cornelius
- Used his millions earned from steamboat buisness to merge local railraod into the New York Central Railroad*
New York Central Railroad
- Created in 1867
- Ran from New York City to Chicago
- Operated more than 4,500 miles of track
truck line
- A truck line was the major route between large cities; smaller branch lines connected the trunk line with outlying towns.
federal land grants
-Realizing the railroads would lead to Western Settlment the government provided railroad companies with huge subsidies in the form of loans and land grants.
-Some 80 railroad companies recieved more than 170 million acres of public land.
transcontinetal railraods
- During the Civil War congress authorized land grants and loans for the building of the first transcontinental railroad.
- It connected California to the rest of the union.
- Before 1900, four other transcontinetal railroads were consrtucted across different sections of the West.
Union and Central Pacific
- The Union Pacific was to build westward across the Great Plains.
- The Central Pacific took on the challenge of laying track across mountain passes in the Sierras by pushing eastward from Sacramento, California.
Jay Gould
- Was a soeculator that went into the railroad buisness for quick profits and made millions by selling off assets and watering stock*.
watered stock
- Inflating the value of a corportaions's assets and profits before selling its stock to the public.
- A way for Speculators to gain money.
- When competing companies agree secretly and informally to fix rates and share traffic.
-With all the competing railroads tring to survive railroads offered rebates (discounts) and kickbacks to favore shippers while charging exorbitant freight rates to smaller costumers.