A Classification of American Wealth
History and genealogy of the wealthy families of America - Sponsors


 Part 1 : Colonial and Mercantile America  Part 2 : America in the Gilded Age
 Part 3 : America in the Twentieth Century  Encyclopedia of American Wealth

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  Part II-Chapter 8 : Railroad Barons  >  Union Pacific :  Previous  1 - 2 - 3 - 4 - 5 - 6 - 7 - 8  Next

   The Credit Mobilier Company to build the Union Pacific railroad  

Thomas Durant and seven other directors of the Union Pacific Railroad formed the Credit Mobilier Company of America with a paid up capital of 1'400'000 $ for the purpose of financing the Union Pacific construction contracts. In parallel, Durant arranged a short-term loan of 1'000'000 $ from a New York banking syndicate. These measures brought enough money to start construction and launch the railroad

 

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