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Jay Cooke and the Northern Pacific
Railroad
Page entitled :
Jay Cooke ousts Smith of Northern Pacific presidency
Content of this page is about :
Jay Cooke replaces Edwin Johnson with W. Milnor Roberts as chief engineer
and ousts John Gregory Smith from Northern Pacific presidency
Extract :
... 238 miles of tracks had been built from Duluth to the Red River in North
Dakota and about twenty five miles on the West Coast. While this was
impressive progress, it was far from making the project economically viable
and there was serious overspending in the construction costs. What made
things worse was the delay in getting title to the government land, which
delayed settlement and thus expected contributions from operations. The
delay was due to ...
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