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Jay Cooke and the Northern Pacific
Railroad
Page entitled : September
18, 1873 : Failure of Jay Cooke and Company
Content of this page is about :
Cooke fails with bank syndication of NP bond issue, Jay Cooke and Company
fails and panic spreads to Wall Street and the American nation
Extract :
... the stellar rise of Jay Cooke & Company had left the older houses,
particularly Drexel & Company, stunned in awe and probably jealousy. Through
the Public Ledger, a well circulated newspaper belonging to his close friend
George Childs, Anthony Joseph Drexel voiced his concern regarding the
government's practice to grant exclusive monopolistic rights to certain
operators ...
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