Product Synopsis

This historic book may have numerous typos, missing text or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1883. Not illustrated. Excerpt: ... CHAPTER XXXI. PRESIDENCY OF HENRY VILLARD. Relations of the Oregon Railway and Navigation Company with the North- ern Pacific--A Threatened Conflict of Interests--Traffic Contract Agreed Upon--Villard's Plan to Acquire Control of the Northern Pacific-- History of the Blind Pool--A Romance of Wall Street--Formation of the Oregon and Transcontinental Company--Its Objects--A Legal Controversy over an Issue of Northern Pacific Common Stock--Henry Villard Elected President of the Northern Pacific--Thomas F. Oakes Elected Vice-President--Important Financial Aid Afforded by the Oregon and Transcontinental--Building of Branch Lines. In the preceding pages an account has been given of Mr. Villard's efforts and aims in organizing the Oregon Railway and Navigation Company, and of the financial measures taken in order to insure its rapid development from a mixed transportation system consisting of steamships, steamboats, and a small disconnected railroad mileage into the more comprehensive and solid system, with a preponderance of railroad lines, it has become since 1879. But it was not only the needs of the new enterprise in these respects that called for his attention and action. It became also necessary, at an early stage, to provide against danger from possible competition. The principal prospective danger lay in the possible conflict of the interests of the Oregon Railway and Navigation Company with those of the Northern Pacific Railroad Company. As early as the spring of 1880, Mr. Villard entered into communication with the executive officers of the Northern Pacific Railroad Company in order to suggest and bring about, if practicable, such agreements between the two corporations as would avert future collisions. Two objects he was especially anxious, to secure; first, ...