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Railroad Pool
Railroad pools in the United States were associations of competing railroads "for the purpose of a proper division of the traffic at competitive points and the maintenance of equitable rates that may be agreed upon." Louis Boisot Jr., of the Chicago Bar, wrote an article about Railroad Pools. He said “Railroad Pools are contracts between rival railway companies whereby, in order to prevent competition, their business is united in one common total, from which the business or the money received therefor is divided among the combining companies in fixed percentages." History In 1885, William H. Vanderbilt the railroad magnate, and Hugh J. Jewett defined railroad pooling in a letter to the Hepburn Committee of the New York legislature, as "a successful plan for preventing railway wars and securing uniformity of rates." During this time, pools were making their way towards legal recognition. In Europe they were encouraged. In Belgium and Prussia the government owned part of the railro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Railroad
Rail transport (also known as train transport) is a means of transport that transfers passengers and goods on wheeled vehicles running on rails, which are incorporated in tracks. In contrast to road transport, where the vehicles run on a prepared flat surface, rail vehicles (rolling stock) are directionally guided by the tracks on which they run. Tracks usually consist of steel rails, installed on sleepers (ties) set in ballast, on which the rolling stock, usually fitted with metal wheels, moves. Other variations are also possible, such as "slab track", in which the rails are fastened to a concrete foundation resting on a prepared subsurface. Rolling stock in a rail transport system generally encounters lower frictional resistance than rubber-tyred road vehicles, so passenger and freight cars (carriages and wagons) can be coupled into longer trains. The operation is carried out by a railway company, providing transport between train stations or freight customer facili ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Louis Boisot
Louis Boisot, Jr., (1856–1933) was an American lawyer and Vice President of the First Trust and Savings Bank of Chicago, Illinois. Boisot wrote the books ''By-laws of Private Corporations'' and ''A Treatise on the Law of Mechanics' Liens''. Early life Louis Boisot was born in Dubuque, Iowa on May 23, 1856. He was the son of Louis Daniel Boisot (1823-1900) and Albertina Bush (1825-1889). Boisot graduated from Hamilton College (Iowa) in 1877 and belonged to Phi Beta Kappa society. He got his Bachelor of Laws at Columbia University in 1879 and was admitted to the bar in 1880. Marriage and children Boisot married Mary Spencer on May 13, 1887. He was a member of the La Grange Country Club in Illinois and a prominent churchman. They had two children. Professional life Boisot practiced law in Chicago from 1880 to 1903. The 1880 United States Census listed him as Attorney at law. On March 26, 1904, Boisot was appointed the trust officer of the First National Bank of Chicago. O ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
William Henry Vanderbilt
William Henry Vanderbilt (May 8, 1821 – December 8, 1885) was an American businessman and philanthropist. He was the eldest son of Commodore Cornelius Vanderbilt, an heir to his fortune and a prominent member of the Vanderbilt family. Vanderbilt became List of richest Americans in history, the richest American after he took over his father's fortune in 1877 until his own death in 1885, passing on a substantial part of the fortune to his wife and children, particularly to his sons Cornelius II and William. He inherited nearly $100 million from his father. The fortune had doubled when he died less than nine years later. Early life Billy was born in New Brunswick, New Jersey, on May 8, 1821, to Commodore Cornelius Vanderbilt and Sophia Johnson. His father Cornelius frequently berated and criticized him, calling his eldest son a "blockhead" and a "blatherskite". Billy longed to show his father that he was not, in fact, a blatherskite, but never dared stand up to the Commodore. A m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hugh J
Hugh may refer to: *Hugh (given name) Noblemen and clergy French * Hugh the Great (died 956), Duke of the Franks * Hugh Magnus of France (1007–1025), co-King of France under his father, Robert II * Hugh, Duke of Alsace (died 895), modern-day France * Hugh of Austrasia (7th century), Mayor of the Palace of Austrasia * Hugh I, Count of Angoulême (1183–1249) * Hugh II, Count of Angoulême (1221–1250) * Hugh III, Count of Angoulême (13th century) * Hugh IV, Count of Angoulême (1259–1303) * Hugh, Bishop of Avranches (11th century), France * Hugh I, Count of Blois (died 1248) * Hugh II, Count of Blois (died 1307) * Hugh of Brienne (1240–1296), Count of the medieval French County of Brienne * Hugh, Duke of Burgundy (d. 952) * Hugh I, Duke of Burgundy (1057–1093) * Hugh II, Duke of Burgundy (1084–1143) * Hugh III, Duke of Burgundy (1142–1192) * Hugh IV, Duke of Burgundy (1213–1272) * Hugh V, Duke of Burgundy (1294–1315) * Hugh Capet (939–996), King of France * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Hepburn Committee
The Hepburn Committee was created in 1879 by an act of the New York State Legislature. A. Barton Hepburn was directed by the State Legislature to investigate the railroads' practice of giving freight rate rebates (as much as 25%) to certain of their largest corporate clients, creating what were in effect much higher freight rates for smaller companies and an unfair advantage for some of the largest corporations in the nation - like John D. Rockefeller's Standard Oil Company. Merchants without ties to the oil industry had pressed for the hearings. Prior to the committee's investigation, few knew of the size of Standard Oil's control and influence on seemingly unaffiliated oil refineries and pipelines - Hawke (1980) cites that only a dozen or so within Standard Oil knew the extent of company operations. The committee counsel, Simon Sterne, questioned representatives from the Erie Railroad and the New York Central Railroad and discovered that at least half of their long-haul traffic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York State Legislature
The New York State Legislature consists of the two houses that act as the state legislature of the U.S. state of New York: The New York State Senate and the New York State Assembly. The Constitution of New York does not designate an official term for the two houses together; it says only that the state's legislative power "shall be vested in the senate and assembly". Session laws passed by the Legislature are published in the official ''Laws of New York''. Permanent New York laws of a general nature are codified in the ''Consolidated Laws of New York''. As of January 2021, the Democratic Party holds supermajorities in both houses of the New York State Legislature, which is the highest paid state legislature in the country. Legislative elections are held in November of every even-numbered year. Both Assembly members and Senators serve two-year terms. In order to be a member of either house, one must be a citizen of the United States, a resident of the state of New York for at ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Congress
The United States Congress is the legislature of the federal government of the United States. It is bicameral, composed of a lower body, the House of Representatives, and an upper body, the Senate. It meets in the U.S. Capitol in Washington, D.C. Senators and representatives are chosen through direct election, though vacancies in the Senate may be filled by a governor's appointment. Congress has 535 voting members: 100 senators and 435 representatives. The U.S. vice president has a vote in the Senate only when senators are evenly divided. The House of Representatives has six non-voting members. The sitting of a Congress is for a two-year term, at present, beginning every other January. Elections are held every even-numbered year on Election Day. The members of the House of Representatives are elected for the two-year term of a Congress. The Reapportionment Act of 1929 establishes that there be 435 representatives and the Uniform Congressional Redistricting Act requires ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interstate Commerce Act Of 1887
The Interstate Commerce Act of 1887 is a United States federal law that was designed to regulate the railroad industry, particularly its monopoly, monopolistic practices. The Act required that railroad rates be "reasonable and just," but did not empower the government to fix specific rates. It also required that railroads publicize shipping rates and prohibited short haul or long haul fare discrimination, a form of price discrimination against smaller markets, particularly farmers in Western or Southern Territory compared to the Official Eastern states. The Act created a federal regulatory agency, the Interstate Commerce Commission (ICC), which it charged with monitoring railroads to ensure that they complied with the new regulations. With the passage of the Act, the railroad industry became the first industry subject to federal regulation by a regulatory body. It was later amended to regulate other modes of transportation and commerce. Background of the act The act was pas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of Rail Transport In The United States
History (derived ) is the systematic study and the documentation of the human activity. The time period of event before the invention of writing systems is considered prehistory. "History" is an umbrella term comprising past events as well as the memory, discovery, collection, organization, presentation, and interpretation of these events. Historians seek knowledge of the past using historical sources such as written documents, oral accounts, art and material artifacts, and ecological markers. History is not complete and still has debatable mysteries. History is also an academic discipline which uses narrative to describe, examine, question, and analyze past events, and investigate their patterns of cause and effect. Historians often debate which narrative best explains an event, as well as the significance of different causes and effects. Historians also debate the nature of history as an end in itself, as well as its usefulness to give perspective on the problems of the p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of Rail Transportation In The United States
: ''This article is part of the history of rail transport by country series.'' Wooden railroads, called wagonways, were built in the United States starting from the 1720s. A railroad was reportedly used in the construction of the French fortress at Louisburg, Nova Scotia, in New France (now Canada) in 1720. Between 1762 and 1764, at the close of the French and Indian War (1756–1763), a gravity railroad ( mechanized tramway) called Montresor's Tramway was built by British military engineers up the steep riverside terrain near the Niagara River waterfall's escarpment at the Niagara Portage (which the local Senecas called ''"Crawl on All Fours."'') in Lewiston, New York. Railroads played a large role in the development of the United States from the industrial revolution in the Northeast (1810–1850) to the settlement of the West (1850–1890). The American railroad mania began with the founding of the first passenger and freight line in the nation of the Baltimore and Ohio Railr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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