By Kurt C. Schlichting
I consider the previous stories that lay out the various strengths of this extraordinary booklet relatively ably. I strategy Grand principal Terminal from the viewpoint of an beginner historian drawn to the background of the recent York relevant approach of railroads. This booklet is kind of easily the simplest paintings i have come upon by way of outlining the interrelationships among the vital method of railroads, and the better big apple urban sector. the writer got down to clarify why the station advanced was once designed because it is, and came across the one method to do that (not unusually) was once to increase an figuring out of the services the railroad that equipped it anticipated it to serve. i have never learn a "railroad-themed" heritage that covers its selected topic any greater than this publication does.
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I trust the earlier reports that lay out the numerous strengths of this amazing e-book rather ably. I method Grand relevant Terminal from the point of view of an novice historian attracted to the heritage of the hot York imperative procedure of railroads. This e-book is kind of easily the simplest paintings i have come upon by way of outlining the interrelationships among the vital approach of railroads, and the higher ny urban quarter.
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Extra info for Grand Central Terminal: Railroads, Engineering, and Architecture in New York City
Passengers and freight arriving in Jersey City or Hoboken had to be loaded onto ferries for the remaining part of the journey to New York. Vanderbilt, although approaching his seventieth birthday, had shrewdly pulled o√ a great triumph: he alone controlled direct rail service to the preeminent city in the land. To increase e≈ciency, Vanderbilt planned to merge the Hudson with the Harlem. For this he needed enabling legislation from New York State, and the Commodore again found himself enmeshed in politics and embattled with Daniel Drew.
Once again Vanderbilt faced ruin at the hands of Drew and a group of corrupt politicians. Persuaded by Drew’s money, the legislators, sure that Vanderbilt was in no position to ﬁght back, sold Harlem stock short, risking as much as each dared. Then they voted down the consolidation bill. The price of Harlem stock had risen to $150 in anticipation that the merger would lead to increased earnings. After the legislative defeat, it dropped to $90. Just as in the Harlem corner, the Commodore fought back tenaciously, eventually acquiring every share of Harlem stock available on Wall Street.
On a day-to-day basis, the individual railroads did not coordinate operational e√orts. Each railroad in the Vanderbilt system managed its own operations and kept separate books. 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.