The Railways And the Republic
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The bitter railway contests of 1874-76 were occasioned by the opening of the Bal- timore and Ohio's connection with Chicago, and its establishment of a differential rate to Baltimore four cents lower than to New York. The other Chicago lines attacked this policy, resolving to destroy the revenue of the new rival, together with their own, until it should be driven into an agreement in accordance with their views. The effort to abolish the differential rate was a fiiilure ; but the ruinous and wa...steful character of the wars resulted in bringing the lines together in 1877, organizing the trunk-line pool. The success of that organization, during the first two or three years of its existence, lay in the completeness with which it abol- ished competition ; and the conflicts that have broken out at intervals since have displayed the evident deter- mination of the combining lines to prevent natural and legitimate competition, and to make all independent action so ruinous that no railway could permanently continue it.
What to read after The Railways And the Republic?
You can find similar books in the "Read Also" column, or choose other free books by James F James Fairchild Hudson to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The bitter railway contests of 1874-76 were occasioned by the opening of the Bal- timore and Ohio's connection with Chicago, and its establishment of a differential rate to Baltimore four cents lower than to New York. The other Chicago lines attacked this policy, resolving to destroy the revenue of the new rival, together with their own, until it should be driven into an agreement in accordance with their views. The effort to abolish the differential rate was a fiiilure ; but the ruinous and wa...steful character of the wars resulted in bringing the lines together in 1877, organizing the trunk-line pool. The success of that organization, during the first two or three years of its existence, lay in the completeness with which it abol- ished competition ; and the conflicts that have broken out at intervals since have displayed the evident deter- mination of the combining lines to prevent natural and legitimate competition, and to make all independent action so ruinous that no railway could permanently continue it.
What to read after The Railways And the Republic?
You can find similar books in the "Read Also" column, or choose other free books by James F James Fairchild Hudson to read onlineMoreLess
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