Profits from the Central Pacific Railroad by analysis of partner transactions

A Classification of American Wealth
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Part 1 : Colonial and Mercantile America	Part 2 : America in the Gilded Age
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Part II-Chapter 8 : Railroad Barons > Central Pacific Railroad : « Previous 1-2-3-4-5-6-7-8-9-10-11-12-13-14 - 15 Next »

Profits from the Central Pacific Railroad by analysis of partner transactions

… Our estimates actually confirm the 1887 findings of the Pacific Railroad Commission but the figures show, that these profits were less due to overcharging for construction works, than to the rapid appreciation of the stock price and the effect of high dividends, the railroad was able to pay from its operations after 1873. The reason why the Central pacific promoters eventually made so much more money than their Credit Mobilier counterparts is that they …

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