. Principles of railroad transportation . ests. In New England the New York, New Haven and Hart-ford Railroad, under the direction of the Morgan bankinginterests, secured control of nearly all the leading trans-portation agencies, including steam and electric railwaysand steamship lines. The Pennsylvania Railroad boughtsubstantial blocks of stock in the Chesapeake and Ohio,the Baltimore and Ohio, and the Norfolk and Baltimore and Ohio invested heavily in the ReadingCompany, which controlled the Philadelphia and ReadingRailroad. The Baltimore and Ohio shared its purchase ofReading s
. Principles of railroad transportation . ests. In New England the New York, New Haven and Hart-ford Railroad, under the direction of the Morgan bankinginterests, secured control of nearly all the leading trans-portation agencies, including steam and electric railwaysand steamship lines. The Pennsylvania Railroad boughtsubstantial blocks of stock in the Chesapeake and Ohio,the Baltimore and Ohio, and the Norfolk and Baltimore and Ohio invested heavily in the ReadingCompany, which controlled the Philadelphia and ReadingRailroad. The Baltimore and Ohio shared its purchase ofReading stock with the Lake Shore and Michigan Southern,a subsidiary of the New York Central. The New York,New Haven and Hartford was jointly interested with thePennsylvania and the New York Central in various railroadproperties. In this way the most powerful systems of theEastern territory reached a position which enabled them toexercise a dominating influence. In the South the Morgan banking interests secured con- CO o o II o H 3 B3 >^ CJ *3. THE LIBRARYOF THEUNIVERSITY Of ILLINOIS 3
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