By Kurt C. Schlichting
I believe the previous experiences that lay out the numerous strengths of this amazing publication particularly ably. I process Grand significant Terminal from the viewpoint of an beginner historian drawn to the historical past of the recent York crucial process of railroads. This ebook is kind of easily the easiest paintings i have stumble upon by way of outlining the interrelationships among the relevant procedure of railroads, and the larger ny urban sector. the writer got down to clarify why the station complicated was once designed because it is, and stumbled on the one strategy to do that (not strangely) used to be to advance an realizing of the features the railroad that equipped it anticipated it to serve. i have never learn a "railroad-themed" historical past that covers its selected topic any greater than this e-book does.
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Example text
Contributions to the overall finances of the Central came through remission of revenue and payment of stock dividends. Revenue generated by the leased or controlled lines, recorded as nonoperating revenue, formed an important component of the Central’s overall financial resources. An alternative would have been to absorb the new railroads directly into the New York Central and operate them as additional divisions. The Pennsylvania Railroad proceeded in this fashion. As the Pennsylvania 28 The Commodore’s Grand Central acquired new lines, they became part and parcel of the overall system under direct control of central management in Philadelphia.
For the western end of its line, the railroad selected Dunkirk, New York, on Lake Erie south of Bu√alo. Dunkirk proved to be a poor choice, given that the Erie Canal had already established Bu√alo as the major eastern terminus for Great Lakes shipping. The Erie eventually bought track rights into Buffalo but remained the weakest of the trunk lines between the East Coast and the Midwest. Drew, Fisk, Gould, and other Erie investors focused their energy on stock manipulation and raids on the railroad’s treasury rather than on the more mundane day-to-day world of railroading.
As matters now stand these companies are managed, both in relation to their finances and operation, in many aspects as if the New York Central was without interest in them. . ’’∫ The task before the committee was a daunting one; the Vanderbilt system formed a complex and unruly monster. Moody’s railroad manual, a contemporary guide to the industry, detailed the complexity: The parent New York Central leased twenty-five lines including the Boston and Albany, Mohawk and Malone, Harlem River, Rome, Watertown and Ogdensburg, West Shore, and Lake Shore, to name a few.