Joseph W. Reinhart (1851–1911) was an American businessman who served as the twelfth president of the

Atchison, Topeka and Santa Fe Railway The Atchison, Topeka and Santa Fe Railway , often referred to as the Santa Fe or AT&SF, was one of the larger railroads in the United States. The railroad was chartered in February 1859 to serve the cities of Atchison, Kansas, Atchison and Top ...

. He was head of the Santa Fe from December 1893 until August 1894.

Biography

Early years

Joseph W. Reinhart was born in

Pittsburgh, Pennsylvania Pittsburgh ( ) is a city in the Commonwealth of Pennsylvania, United States, and the county seat of Allegheny County. It is the most populous city in both Allegheny County and Western Pennsylvania, the second-most populous city in Pennsylva ...

on September 15, 1851. He was a graduate of

Western University of Pennsylvania The University of Pittsburgh (Pitt) is a public state-related research university in Pittsburgh, Pennsylvania. The university is composed of 17 undergraduate and graduate schools and colleges at its urban Pittsburgh campus, home to the univers ...

, today known as the University of Pittsburgh.

Career

Following graduation, Reinhart entered the field of railroad management, beginning in 1875 as a clerk in the office of a division superintendent of the

Allegheny Valley Railroad The Allegheny Valley Railroad is a class III railroad that operates in Western Pennsylvania, and is owned by Carload Express, Inc. AVR acts as a feeder line connecting its many and varied customers to Class I railroads such as CSX Transportat ...

. Thus began a career in which Reinhart worked for more than 20 railroads. Reinhart ascended to the Santa Fe's presidency on December 23, 1893, when he was appointed a receiver of the railroad along with John J. McCook and

Joseph C. Wilson Joseph Charles Wilson IV (November 6, 1949 – September 27, 2019) was an American diplomat who was best known for his 2002 trip to Niger to investigate allegations that Saddam Hussein was attempting to purchase yellowcake uranium; his ''New Y ...

. He had competed for the presidency with Albert Alonzo Robinson, the railroad's vice president and general manager, but Reinhart's connections in financial circles made him the ultimate winner of this battle. Reinhart's own statements to the press in the previous year about the railroad's financial health would prove to be his downfall. Right up until he announced the receivership, Reinhart had been issuing reports of a highly profitable financial situation. He pointed out that the railroad's revenues for the fiscal year ending June 30, 1893, were more than $16 million, which was $1 million more than the previous year. However, with that amount in revenues, the railroad was barely able to cover the interest on its debts and collapsed with the death of its chairman George C. Magoun. The press needed someone to blame and quickly centered on Reinhart as the issuer of the glowing statements of solvency as little as six months previous. Investigations were begun and it was soon found that executives in as many as the past seven years had juggled the company's accounts so that by the summer of 1894, the railroad's actual debt in the previous years had at least equalled its revenues, leaving the company's net worth at zero. Reinhart vehemently denied these new reports, but after further posturing and an indictment for violating the

Interstate Commerce Act The Interstate Commerce Act of 1887 is a United States federal law that was designed to regulate the railroad industry, particularly its monopolistic practices. The Act required that railroad rates be "reasonable and just," but did not empower ...

, Reinhart resigned from the railroad on August 8, 1894.

Death and legacy

Reinhart died at his home in Kansas City, Missouri on January 27, 1911."Former President of Santa Fe is Dead,"
''Topeka Daily Capital,'' Jan. 28, 1911, pg. 1. He was 59 years old at the time of his death, which was attributed to

pneumonia Pneumonia is an inflammatory condition of the lung primarily affecting the small air sacs known as alveoli. Symptoms typically include some combination of productive or dry cough, chest pain, fever, and difficulty breathing. The severi ...

and

bronchitis Bronchitis is inflammation of the bronchi (large and medium-sized airways) in the lungs that causes coughing. Bronchitis usually begins as an infection in the nose, ears, throat, or sinuses. The infection then makes its way down to the bronchi. ...

which followed a severe cold which he caught in New York City two weeks previously. At the time of his death, Reinhart was serving as the President of the Kansas City Viaduct and Terminal Company.

Biography

Early years

Career

Death and legacy

Footnotes

Further reading