. Cost, capitalization and estimated value of American railways; . tial part,of the cost of construction of American railways. The factthat the road and canal were sold for a song compared withtheir cost, and that scarcely a vestige of the State venture, ex-cept right of way, remains of service to the public today doesnot wipe out the obligation of the original investment. Be-sides, the people of the United States in our day are millionsricher for the pioneer work of the State which a great railwaycompany subsequently had to reconstruct or abandon to perfectits magnificent service across the A
. Cost, capitalization and estimated value of American railways; . tial part,of the cost of construction of American railways. The factthat the road and canal were sold for a song compared withtheir cost, and that scarcely a vestige of the State venture, ex-cept right of way, remains of service to the public today doesnot wipe out the obligation of the original investment. Be-sides, the people of the United States in our day are millionsricher for the pioneer work of the State which a great railwaycompany subsequently had to reconstruct or abandon to perfectits magnificent service across the Alleghanies. 43 How subsequently the railroads pushed their way westwarduntil they reached the Pacific is thus summarized in a para-graph from Poors Manual for 1870-71. In 1851 the Erie Railroad was opened from the Hudson toLake Erie—an event of first rate importance in the history ofour railroad enterprises. In the following year the completionof the Michigan Central and Michigan Southern lines carriedthe railroad system of the country as far west as Chicago.*. The Reconstructed Pioneer of the Chicago & Noethwestern, This10 Ton Locomotive Reached Chicago by Schooner Oct. 10,1848. In 1854, this system was carried to the Mississippi Riverby the completion of the Chicago and Rock Island Railroad. In1853, The Baltimore and Ohio Railroad was completed to theOhio River, at Wheeling. In 1854, the Pennsylvania Railroadwas completed to Pittsburg. In 1856, the Illinois Central Rail-road was completed from Chicago to the Mississippi River, atCairo. The Chicago, Burlington and Quincy Railroad wasopened to Quincy in 1856. The Pittsburg, Fort Wayne andChicago, extending the Pennsylvania Railroad to Chicago, wascompleted in 1858. In 1859, the Hannibal and St. Joseph Rail-road was extended from the Mississippi to the Missouri. In1866, the Cedar Rapids and Missouri was completed to theMissouri River opposite Omaha. In 1867, a line of railroad wasformed between Chicago and St. Paul, Minnesota;
Size: 2353px × 1062px
Photo credit: © Reading Room 2020 / Alamy / Afripics
License: Licensed
Model Released: No
Keywords: ., bo, bookcentury1900, bookdecade1900, bookidcostcapitalizati01thom
