History of the Union Pacific Railway (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1895 Excerpt: ...of Wall street. I have studied the several steps in one grand organized raid of a successful "bear" campaign. Had I time to follow it out I could make it an account of no little interest. I could show the thorough knowledge the Wall Street operators had of the way the stock was held, and how they based their plans upon this knowledge, so as "to shake the weak stock out." Unlike many other companies, the Union Pacific, with its 600,000 shares, was in no one's keeping. A great deal of the stock was floating about or carried on margin. There was a grand chance for a "bear" campaign and the bears knew it. The stock list shows how skillfully, how persistently, and how boldly they availed themselves of itA list of the charges set afloat and of the reports successively day by day telegraphed over the country, especially to New England, during the last ten weeks, would be a curiosity. Meanwhile, the point I wish to make is this: The whole result of my investigations, which have been as thorough as I knew how to make them, has satisfied me of the investment value of this property. Believing in it, and having led others to invest in it, I want to see the control of it in New England. The Chicago, Burlington and Quincy and the Union Pacific constitute together the Broadway or Washington street of this continent. They will always be the chief commercial thoroughfare between Chicago and San Francisco. Other lines will be built through to the north and to the south of them; but these will be to the Union Pacific only what Third or Sixth avenues are to Broadway. At least that is the way it strikes me. Seeing it in this light, the Union Pacific seem-s to me a very valuable property, with a very great future. So far as occupying the country is ...