| AF | Materials found at Arden Farms, Harriman, New York |
| AJA | Jacob H. Schiff Papers, American Jewish Archives, Cincinnati, Ohio |
| BA | Burlington Archives, Newberry Library, Chicago, Illinois |
| Batson Minutes | Excerpts of Executive Committee minutes by G. W. Batson, AF |
| Chronicle | Commercial and Financial Chronicle |
| DAB | Dictionary of American Biography |
| FAV | Frank A. Vanderlip Papers, Butler Library, Columbia University, New York City, New York |
| GK | George Kennan Papers, Library of Congress, Washington, D.C. |
| HBH | Henry B. Hyde Collection, Baker Library, Harvard Business School, Boston, Massachusetts |
| IC | Illinois Central Archives, Newberry Library, Chicago, Illinois |
| ICI | Records in possession of IC Industries, Chicago, Illinois |
| JA | Records of the Los Angeles & Salt Lake Railroad in possession of Jim Ady, Salt Lake City, Utah |
| JJH | James J. Hill papers, James J. Hill Reference Library, St. Paul, Minnesota |
| JS | James Stillman papers, Butler Library, Columbia University, New York City, New York |
| NCAB | National Cyclopedia of American Biography |
| OK | Otto Kahn Papers, Firestone Library, Princeton University, Princeton, New Jersey |
| RGD | R. G. Dun & Co. Collection, Baker Library, Harvard Business School, Boston, Massachusetts |
| SF | Stuyvesant Fish Papers, Butler Library, Columbia University, New York City, New York |
| SMF | Samuel M. Felton papers, Baker Library, Harvard Business School, Boston, Massachusetts |
| TR | Theodore Roosevelt papers, Library of Congress, Washington, D.C. |
| UPL | Union Pacific Railroad Company collection, Nebraska State Museum and Archives, Lincoln, Nebraska |
| UPN | Union Pacific Railroad Company records, Union Pacific Corporation, New York City, New York (these records have since been moved to Omaha). |
| UPO | Union Pacific Railroad Company records, Union Pacific System, Omaha, Nebraska |
| WDS | Willard D. Straight Papers, Cornell University Library, Ithaca, New York |
| WSJ | Wall Street Journal |
1.This George Kennan’should not be confused with George F. Kennan, who emerged as an authority on Soviet affairs during the 1940s. They are distantly related and often mistaken for each other. See George F. Kennan, Memoirs, 1925-1950 (New York, 1969), 6-7, and Walter Isaacson and Evan Thomas, The Wise Men (New York, 1986), 75-76, 228.
2.David Fairchild, “George Kennan,” Journal of Heredity 15 (Oct. 1924): 403.
3.Unless otherwise indicated, this sketch is drawn from Kennan’s manuscript autobiography and chronology in GK.
4.Diary of Willard D. Straight, July 6, 1904, WDS.
5.DAB, 10:331.
6.Isaacson and Thomas, Wise Men, 76.
7.Straight diary, Sept. 4, 1904.
8.Ibid., July 6, 1904.
9.Fairchild, “George Kennan,” 404-5.
10.Diary of George Kennan, May 3, 1912, May 12, 1913, GK.
11.Kennan diary, Mar. 12, 1912.
12.New York Times, Nov. 8, 1932; E. Roland Harriman, I Reminisce (Garden City, N.Y., 1975), 60.
13.Otto Kahn to Mary Harriman, Jan. 5, 1909 [1910], materials at AF.
14.Persia Campbell, Mary Williamson Harriman (New York, 1960), 2-3; Reverend J. D. Morrison, “Recollections and Impressions of the Late E. H. Harriman,” 1, AF.
15.Campbell, Mary Harriman, 10-17.
16.Ibid.; New York Times, Aug. 23, 1911, Apr. 20, 1913; Railroad Age Gazette, 55:160.
17.Otto H. Kahn, “Edward Henry Harriman,” in Stuart Bruchey, ed., Three Railroad Pioneers (New York, 1981), 37-43.
18.Ibid., 43; Kennan to his wife, Nov. 28, 1912, GK; Campbell, Mary Harriman, 5.
19.New York Times, May 15, 1912; New York Tribune, May 15, 1912. For the article, see Metropolitan Magazine32 (May 1910): 141-55.
20.R. Fulton Cutting to Mary Harriman, Aug. 12, 1910, GK; Bayard Cutting to Mary Harriman, Sept. 13, 1910, GK; L. F. Loree to Mary Harriman, Nov. 10, [1910], AF; Batson to Mary Harriman, Oct. 22, Nov. 29, 1910, Mar. 14, 1911, AF; W. F. Herrin to Mary Harriman, Oct. 28, 1910, GK; Alex Millar to Mary Harriman, Nov. 4, 1910, GK; George C. Clark to Mary Harriman, Nov. 7, 1910, GK.
21.Batson to Mary Harriman, May 11, Sept. 13, 21, Oct. 27, Dec. 22, and undated, 1911, AF. A partial list of those interviewed by Batson, along with clippings from several New York papers on the forthcoming appearance of the book, are in AF.
22.Batson to Mary Harriman, Dec. 22, 1911, AF; Lovett to Frank A. Vanderlip, Jan. 16, 1912; FAV; New York Times, Jan. 10, 1912; New York Tribune, Jan. 10, 1912; Union Pacific Exec. Com. minutes, Jan. 9, 1912, UPN; Lovett to William Sproule, Jan. 10, 1912, UPN.
23.Interview with W. Averell Harriman, June 23, 1981; Harriman, I Reminisce, 62; Kennan notes, 1-0-12, AF; New York Tribune, Jan. 10, 1912. In June 1915 Lovett told C. W. Barron that all his own letters from Harriman, as well as those in the Union Pacific offices and legal department, were destroyed in the fire.
24.New York Times, May 15, 1912; New York Tribune, May 15, 1912.
25.Kennan diary, Mar. 12, 1912.
26.Ibid., Jan. 10, Feb. 12-14, 1914.
27.Kennan to E. D. Kenna, Jan. 30, 1916, AF. The letter to Kenna, like many of those at AF, is in draft form.
28.Kennan diary, Mar. 1, 12, 17, 26, 28, 1914, Feb. 20, 1915.
29.Ibid., Apr. 15, 20, 21, 27, 1914; Kennan to his wife, Apr. 16, 1914, GK.
30.Kennan to his wife, Oct. 26, 1914, GK; Kennan diary, Oct. 24, 1914.
31.Kennan diary, Oct. 25, 1914.
32.Ibid., Nov. 4, 5, 11, 17, Dec. 16, 1914, Mar. 3, 5, 1915; Kennan to Lawrence Abbott, Nov. 26, 1914, GK.
33.Kennan diary, Nov. 8, 1914, Aug. 7, 1920; NCAB, 33:380-81.
34.Kennan diary, Dec. 8, 1914, June 14, Aug. 26, 28, 30, Oct. 3, 6, 22, 26, 28, 29, Nov. 8, 1915; Kennan to Mary Harriman, Aug. 1, 1915, AF; Mary Harriman to Kahn, Oct. 15, 1915, OK; Kahn to Kennan, Oct. 27, 29, Nov. 15, 29, 1915, AF; Kennan to Felton, Nov. 2, 1915, AF.
35.Kennan to C. Hart Merriam, Jan. 11, 1916, GK; NCAB, 32:65; William Z. Ripley, Railroads: Finance and Organization (New York, 1915), 77, 112, 262-67.
36.Kennan to Mary Harriman, Aug. 1, 1915, AF; Kennan to Tegethoff, Aug. 29, 1915, AF.
37.Kennan to Mary Harriman, Oct. 25, Nov. 6, 1915, AF; Abbott to Kennan, Nov. 8, 1915, AF; Kennan diary, Oct. 6, 7, 29, Nov. 6, 1915.
38.Mary Harriman to Kennan, Nov. 7, 1915, AF; Kennan to Merriam, Jan. 11, 1916, GK; Kennan diary, Nov. 9, 10, 1915. The books were George Kennan, The Chicago and Alton Case: A Misunderstood Transaction (Garden City, N.Y., 1916) and Misrepresentation in Railroad Affairs (Garden City, N.Y., 1916).
39.Mary Harriman to Kennan, Dec. 31, 1915, AF; Kennan to Mary Harriman, Jan. 2, 17, 1916, AF; Lane to Kennan, Jan. 22, 1916, AF.
40.Ripley to Kennan, Jan. 19, 1916, AF.
41.Kennan to Ripley, Jan. 22, 1916, AF; Ripley to Felton, Feb. 14, 1916, AF; Kennan to Felton, Feb. 14, 1916, AF; Walker to Kennan, Feb. 15, 18, and 28, 1916, AF; Kennan to Walker, Feb. 16, 19, 29, 1916, AF; Walker to Ripley, Feb. 18, 1916, AF.
42.Kennan to Walker, Feb. 29, 1916, AF. See, for example, the review in WSJ, Feb. 10, 1916.
43.Kennan diary, Jan. 29, Feb. 15, 1916; Mary Harriman to Kennan, Mar. 19, 1916, AF.
44.Seligman to Mary Harriman, Apr. 8, 1916, AF; Ripley to Seligman, Mar. 18, 1916, AF; Kennan to Kahn, Mar. 21, 1916, AF; Kahn to Kennan, Mar. 22, 1916, AF; Mary Harriman to Kennan, Apr. 4, 1916, AF. Ripley also told Judge Lovett, “I am urging Mrs. Harriman to have the matter [biography] treated in a more dignified and literary fashion” (Ripley to Lovett, Apr. 14, 1916, AF).
45.Ripley to Kennan, Mar. 10, 1916, AF; William Z. Ripley, “Federal Financial Railway Regulation: The Alton as a Test Case,” North American Review 203 (Apr. 1916): 538-52. The source Ripley denounced was a piece by Frank Spearman, a noted popular railroad writer.
46.Mary Harriman to Kennan, Apr. 1, 1916, AF; Ripley, “Federal Financial Railway Regulation,” 538; Kennan, Misrepresentation in Railroad Affairs. Like his original piece, a shortened version of Kennan’s reply appeared first in North American Review, May and June 1916, and was published in full as the separate volume given here.
47.Ripley, “Federal Financial Railway Regulation,” 548-51. Kennan’s rebuttal is included in his Misrepresentation volume.
48.Ripley to editor of North American Review, May 18, 1916, AF; Kennan to Mr. Brennan, May 28, 1916, AF; Ripley to Lovett, Apr. 14, 1916, AF; Lovett to Ripley, Apr. 20, 1916, AF; Lovett to Kennan, Apr. 26, 1916, AF; Kennan diary, May 3, 1916.
49.Arthur Pound and Samuel Taylor Moore, They Told Barron: Conversations and Revelations of an American Pepys in Wall Street (New York, 1930), 58-59.
50.Kennan to Mary Harriman, Jan. 17, 1916, AF.
51.Kennan to Slason Thompson, Nov. 21, 1915, AF. A copy of the Alton statement is at AF.
52.Mary Harriman to Kennan, Mar. 1, 1916, AF; Kennan diary, Mar. 1, 6, 1916. Mary’s note includes a list of the memoirs, copies of which are at AF.
53.Kennan diary, Mar. 6,9, 1916. Even after this find, however, Kennan’still maintained that “most of the Harriman papers and documents were destroyed in the burning of the Equitable Building” (Kennan to Miss Dawes, Nov. 2, 1916, GK).
54.Kennan diary, Apr. 26, 29, May 2,3, 1916; Kennan to Mary Harriman, Apr. 30, 1916, AF; Mary Harriman to Kennan, Nov. 12, 1916, AF.
55.Kennan diary, May 5,31, 1916, Jan. 5, Feb. 14,22, 1917; Kennan to his wife [Jan. 5, 1917], GK.
56.Kennan diary, Aug. 18, Sept. 8, Oct. 1, 3, 5, 11, Nov. 16, 24, 25, 28, 1916, Jan. 11, 12, 18, Mar. 6, 1917; Mary Harriman to Kennan, Jan. 27, 1917, AF; Kennan to Mary Harriman, Feb. 12, 1917, May 8, 1919, AF.
57.Averell Harriman to Kennan, Feb. 15, 28, May 3, 1917, AF; Kennan to Averell Harriman, Feb. 16, 28, 1917, AF; Kennan to Schiff, Mar. 12, Oct. 17, 1917, AJA; Schiff to Kennan, Mar. 13, June 18, Oct. 22, 1917, AJA, Mar. 14, 1917, AF; Kennan to Mary Harriman, Mar. 15, 1917, AF.
58.Kennan to Mary Harriman, July 17, 1921, AF; Kennan diary, Jan. 4, 1919, July 17, 1921.
59.Kennan to Mary Harriman, July 17, 1921, AF; Kennan diary, Jan. 4, 1919, July 17, 1921.
60.Kennan diary, Mar. 15, 1917; Isaacson and Thomas, Wise Men, 158.
61.Kennan to Tegethoff, May 5, 1917, AF; Kennan to Schiff, May 18, 1917, AJA; Kennan diary, Apr. 27, 1917, Jan. 3, 31, May 16, 1919; Kennan to Mary Harriman, Feb. 7, 1918, May 8, 1919, AF.
62.Kennan to Schiff, May 7, 1920, GK; Kennan to Mary Harriman, Nov. 20, 1918, GK.
63.Kennan to Mary Harriman, Jan. 18, 1920, GK.
64.Ibid., Oct. 1, Dec. 3, 1920, Feb. 5, 1921, AF. Kennan’s diary provides a running chronology of when he worked on each episode.
65.Kennan to Mary Harriman, Oct. 1, 1920, Apr. 19, 1921, AF; Kennan diary, Mar. 17, June 21, 26, July 2, 1921.
66.Kennan diary, Apr. 16, 29, June 27, July 2, 6, 1921; Kennan to Mary Harriman, Feb. 5, Apr. 19, 1921, AF; Lovett to Mary Harriman, May 12, 1921, AF; Lovett to Kennan, Apr. 25, 1921, AF; Kennan to Lovett, Apr. 28, July 2, 1921, AF.
67.Ferris Greenslet to Kennan, Oct. 8, 10, 1921, AF; Kennan to Mary Harriman, Oct. 10, 1921, Feb. 13, 1922, AF; Kennan diary, Sept. 29, Oct. 6,10,15, 21, 24, Nov. 6, Dec. 12, 20, 1921, Jan. 11, Feb. 28, 1922. See also the series of letters from Mary Harriman to Kennan in early 1922, GK.
68.Kennan to Mary Harriman, Feb. 28, June 12, 22, 1922, AF; Mary Harriman to Kennan, Mar. 6, 1922, GK; Kennan diary, Apr. 17,18, June 12, 1923.
69.Kennan to Mary Harriman, June 12,14, 22, July 27, 1922; Kennan diary, Oct. 3,31, 1922, Apr. 9, 1923.
70.Kennan to Mary Harriman, Sept. 6, 1923, AF.
71.Ibid., Nov. 23, 1923, Feb. 13, 1924, AF; Mary Harriman to Lena Harriman, Nov. 30, 1924, AF; New York Times, Nov. 8, 1932, May 28, 1940.
72.Kennan to Mary Harriman, June 14, 1922, AF; Mary Harriman to Kennan, Nov. 5, 1922, GK.
1.Rosamond Harriman Owen, family reminiscence, 2, AF. Rosamond was Orlando’s youngest child.
2.I am grateful to William J. Rich III for providing me with a genealogical chart of the Harriman family. A briefer version drawn up by Tegethofif is in AF.
3.The date of William’s move is uncertain. George Kennan, E. H. Harriman, 2 vols. (New York, 1922), 1:3, gives it as 1800, but Rosamond Owen, reminiscence, 3, said she did not know the date. William first appeared in a city directory in 1803-4. See Thomas Long- worth, New-York Register and City Directory (New York, 1804), 164. See also Longworth, Directory, 1811,126.
4.Owen, reminiscence, 4.
5.Ibid., 2.
6.Ibid., 6.
7.Ibid., 4-5; Margaret Armstrong, Five Generations: Life and Letters of an American Family, 1750-1900 (New York, 1930), 266.
8.The essay, dated April 6, 1832, and evidently written for a young men’s debating association, is at AF.
9.Owen, reminiscence, 6-7; Armstrong, Five Generations, chart just before index.
10.Armstrong, Five Generations, 264,267; Kennan, Harriman, 1:5.
11.Kennan, notes of talk with Cornelia Simons, Aug. 19, 1917, AF; C. M. Keys, “Harriman,” World’s Work 13 (Jan. 1907): 8459-60; Kennan, Harriman, 1:6.
12.Kennan, Harriman, 1:6-7. Parts of Orlando’s story can also be found in fragments of Batson’s manuscript, AF.
13.RGD, New York City, 268:509; John Daggett Jr., The New-York City Directory (New York, years cited), 1842-43, 148, 1844-45, 157, 1846-47, 176, 1848-49, 187, 1849-50, 192; Charles R. Rode, The New-York City Directory (New York, 1853-54), 286.
14.RGD, New York City, 225:133,268:509; Rode, Directory, 1856,363, 1856-57,356.
15.Keys, “Harriman,” 8460; Batson fragment, AF; Kennan, Harriman, 1:8-9.
16.Carl Snyder, “Harriman: ‘Colossus of Roads,’” Review of Reviews 35 (Jan. 1907): 39.
17.Kennan, Harriman, 1:9-11; Snyder, “Harriman,” 39.
18.Kennan to Cornelia Simons, Feb. 4, 1918, AF. See, for example, Keys, “Harriman,” 8459; Edwin Lefevre, “Harriman,” American Magazine 64 (June 1907): 115.
19.Keys, “Harriman,” 8460; Kennan, Harriman, 1:11-12.
20.Committee on Admission minutes, July 28, 1870, New York Stock Exchange; Francis L. Eames, The New York Stock Exchange (New York, 1968), 73, 123; Kennan, Harriman, 1:12-13.
21.Maury Klein, The Life and Legend of Jay Gould (Baltimore, 1986), 68-71.
22.James K. Medbery, Men and Mysteries of Wall Street (New York, 1870), 11.
23.Eames, New York Stock Exchange, 121.
24.John Moody and George Kibbe Turner, “Masters of Capital in America,” McClure’s Magazine, Jan. 1911,335.
25.RGD, New York City, 225:133,268:509; John F. Trow, The New-York City Directory, 1863-64, 364, 1864-65, 376, 1865-66, 412, 1867, 431, 1868, 440, 1869, 462; E. C. Stedman, The New York Stock Exchange (New York, 1905), 146.
26.Committee on Admissions minutes, July 28, 1870, New York Stock Exchange; Stedman, New York Stock Exchange, 147; Eames, New York Stock Exchange, 51, 85,127; Moody and Turner, “Masters of Capital,” 336. In 1864 the initiation fee had been raised to $3,44, but in October 1868 memberships were made salable from a retiring member to newcomers on approval by the committee on admissions. Tegethoff thought Harriman had paid $5,51 for his seat. See Kennan to Rensselaer Weston, Jan. 22, 1917, AF.
27.Moody and Turner, “Masters of Capital,” 335.
1.John Moody and George Kibbe Turner, “Masters of Capital in America,” McClure’s Magazine, Jan. 1911,335-36.
2.Francis L. Eames, The New York Stock Exchange (New York, 1968), 96.
3.Moody and Turner, “Masters of Capital,” 336; George Kennan, E. H. Harriman, 2 vols. (New York, 1922), 1:16.
4.Weston to Kennan, Jan. 5, 1917, AF; Kennan interview with Cornelia Simons, Aug. 19, 1917, AF; Kennan, Harriman, 1:18-19. For background on the Livingston family, see Clare Brandt, An American Aristocracy: The Livingstons (Garden City, N.Y., 1986).
5.James K. Medbery, Men and Mysteries of Wall Street (New York, 1870), 111.
6.Kennan, Harriman, 1:17-18; C. M. Keys, “Harriman,” World’s Work 13 (Jan. 1907): 8461.
7.Literary Digest, Sept. 18, 1909,420; Keys, “Harriman,” 8461; Edwin Lefevre, “Harriman,” American Magazine 64 (June 1907): 118; J. B. Berry, “Notes on J. B. Berry’s Association with Mr. E. H. Harriman,” 8, AF.
8.RGD, New York, 397:300L; John F. Trow, The New-York City Directory, 1868, 440, 1869, 462.
9.RGD, New York, 397:300A1, 300A44; Trow, Directory, 1874-75, 544.
10.Committee on Admissions minutes, June 15, 1877, New York Stock Exchange; RGD, New York, 397:300A1, 300A44; Trow, Directory, 1877-78, 571-72; New York Times, Dec. 30, 1911.
11.RGD, New York, 397:300A44.
12.Galveston News, Sept. 10, 1909.
13.Moody, “Masters of Capital,” 335; Kennan, Harriman, 1:19-20.
14.Edward Livingston Trudeau, An Autobiography (Garden City, N.Y., 1916), 78-81.
15.Ibid., 82-83.
16.Ibid., 15-16.
17.Ibid., 71-96.
18.Ibid., 90-91.
19.Kennan, Harriman, 1:22-23.
20.Ibid., 1:23-24.
21.Kennan dairy, Mar. 6, 1917, GK; George C. Clark to Kennan, Mar. 12, 1917, AF; Kennan to Clark, Mar. 13, 1917, AF.
22.Clark to Kennan, Mar. 15, 1917, AF; Kennan interview with H. S. Brooks, undated, AF. Brooks was an officer in the Boys’ Club. See also Kennan to Moody, Feb. 4, 1918, AF.
23.Kennan interview with Brooks, AF.
24.Kennan, Harriman, 1:28.
25.Ibid., 1:29; Kennan interview with Brooks, AF.
26.Clark to Kennan, Mar. 12, 1917, AF.
27.Kennan to Moody, Feb. 6, 1918, AF.
28.Harriman to the President and Board of Directors of the Illinois Central Railroad, Feb. 20, 1889, IC.
29.Kennan, Harriman, 1:30-58.
30.Francis H. Tabor, “Mr. E. H. Harriman and the Boys’ Club,” AF.
31.Ibid.
32.RGD, New York, 552:251, 553:424.
33.Ibid., 268:509, 553:433, 442, 565, 568, 711; Persia Campbell, Mary Williamson Harriman (New York, 1960), 3.
34.RGD, New York, 397:300A44. There are pictures of young Henry and Mary in Campbell, Mary Williamson Harriman, 4.
35.Kennan notes on recollections of R. Fulton Cutting, Sept. 6, 1910, AF.
36.J. D. Morrison, “Recollections and Impressions of the Late E. H. Harriman,” 1-2, AF; Kennan, Harriman, 1:61; Henry V. Poor, Manual of the Railroads of the United States (New York, 1879), 205, Manual, 1880,196. There is a curious contradiction about the wedding. Kennan’says it took place at the Averell home, while Morrison, who presided at the wedding, says it occurred at St. John’s Church before an “immense congregation.” Mary did not correct Kennan’s version even though Kennan later quoted Morrison’s version of events. See Kennan, Harriman, 1:61, 2:389.
37.Trow, Directory, 1880-81,648, 1883-84,704, 1885,724, 1886,811. Roosevelt lived at 6 West 57th Street.
38.Lewis R. Morris, “A Successful Life, Edward Henry Harriman,” 4, AF.
39.Kennan to Mary Harriman, May 15, 1921, AF, quoting Lovett’s letter.
40.Eames, New York Stock Exchange, 80-81; RGD, New York City, 397:300A44.
41.Chronicle, 33:11.
42.RGD, New York, 397:300A44,300A116.
43.Ibid.; Eames, New York Stock Exchange, 133.
1.Computed from Chronicle, 42:41. The nonrail issues included five telegraph, four express company, eleven coal and mining, and six other issues.
2.DAB, 6:397-403; S. Fish, 1600-1914 (Privately printed, 1942), 162-73, 191. This family volume by Fish’s son contains some extracts from Fish’s letters of the period. George Kennan, E. H. Harriman, 2 vols. (New York, 1922), 1:18, suggests that Harriman met Fish during his early years on Wall Street but has no hard evidence on the subject in his notes.
3.DAB, 6:402-3; New York Times, Apr. 11, 1923; Margaret Armstrong, Five Generations: Life and Letters of an American Family, 1750-1900 (New York, 1930), 375-76.
4.William K. Ackerman, Historical Sketch of the Illinois-Central Railroad (Chicago, 1890), 142-43; John F. Stover, History of the Illinois Central Railroad (New York, 1975), 144-71, 208, 210.
5.Edward Chase Kirkland, Men, Cities and Transportation, 2 vols. (Cambridge, Mass., 1948), 1:158-72,174-80; Henry V. Poor, Manual of the Railroads of the United States for 1871-1872 (New York, 1872), 293-94, 419, 1872-73, 79, 1873-74, 316, 1875-76, 185, 446, 1876-77, 678, 1877-78,159; Chronicle, 28:526.
6.Poor, Manual, 1877-78,157, 1878,197, 1879, 204-5.
7.Ibid., 1881,157, 1882,162; Chronicle, 30:118,144, 323, 358, 494, 622, 31:358, 429, 484, 560, 34:686,36:212, 622, 42:753.
8.Poor, Manual, 1870-71, 330, 1872-73, 226, 1873-74, 341; RGD, New York, 618:283, 407, 418.
9.RGD, New York, 366:207,300,300Q, 364:100A2.
10.Ibid., 34:100A2, 618:407, 454, 462, 473; Poor, Manual, 1870-71, 330, 1872-73, 226, 1873- 74,341, 1874-75,149, 1875-76, 200, 1876-77, 220, 243, 1877-78,158, 1878,199.
11.RGD, New York, 618:473, 582; Poor, Manual, 1879, 206, 1880,164, 1881,124, 1882,125-26; Chronicle, 30:434, 466,33:412.
12.J. B. Berry, “Notes on J. B. Berry’s Association with Mr. E. H. Harriman,” June 21, 1911,1, AF.
13.Ibid., 2.
14.RGD, New York, 619:32; Kennan, Harriman, 1:61-66; Annual Report of the State Engineer and Surveyor of the Railroads of the State of New York (Albany, 1881), 304, 1883,579, 1884,617; Poor, Manual, 1883,197; Chronicle, 35:132,313. Kennan’s version of this episode contains numerous factual errors.
15.H. B. LeFebore to W. W. Webb, Jan. 31, 1911, AF; Batson notes from interview with W. W. Webb, undated, AF; Annual Report of the State Engineer and Surveyor, 1884, 617; Poor, Manual, 1884,189-90; Berry, “Notes,” 1-2. LeFebore and Webb are the only sources for the assertion that Harriman bought the others out and took charge of the road, and their accounts conflict at points.
16.Poor, Manual, 1885,189-90.
17.Data on the Sodus Bay during these years can be found in Annual Report of the State Engineer and Surveyor, 1880, 684-88, 1881, 810-16, 1882, 304-7, 1883, 578-79, and its successor, Annual Report of the Board of Railroad Commissioners of the State of New York (Albany, 1884), 2:617-22, 1885, 2:745-55. See also Poor, Manual, 1873-74, 341, 1874-75, 149, 1879,206, 1880,164, 1882,125-26, 1884,189-90. Unfortunately, the data are scant for 1881 and 1882.
18.LeFebore to Webb, Jan. 31, 1911, AF. All figures are calculated from data in sources listed in above two notes.
19.Poor, Manual, 1884,189-90.
20.Batson notes from interview with W. W. Webb, undated, AF; Kennan, Harriman, 1:64-65. Kennan emphasizes repeatedly that Harriman had “rebuilt and reequipped” the road.
21.Batson notes from interview with W. W. Webb, undated, AF; Chronicle, 39:48, 784; Poor, Manual 1885, 189-90; Kennan, Harriman, 1:65; Fish to J. T. Harahan, Sept. 18, 1894, IC; Charles C. Tegethoff to Fish, Jan. 21, 1901, SF; W. W. Webb to Fish, May 13, 1910, SF. Kennan’says Harriman “happened to be absent from his office” that morning, but it is hard to believe that his absence was not calculated.
22.Ackerman, Historical Sketch, 95,112-20; Stover, History of the Illinois Central 15,127-71; Chronicle, 34:144.
23.Chronicle, 30:218, 33:357-58, 34:144, 36:298-99, 310, 38:243-45; Clarke to Ackerman, May 10, 1877, IC. Figures computed from data in company annual reports.
24.Ackerman, Historical Sketch, 134-37; Stover, History of the Illinois Central 177-78.
25.IC Directors minutes, June 18, 1879, Mar. 17, Oct. 20, 1880, Mar. 25, 1881, Feb. 7, 1882, records in possession of ICI; Clarke to W. H. Osborn, Dec. 26, 1881, IC; Chronicle, 34:44.
26.IC Directors minutes, June 23, July 11, 1881, ICI.
27.Ibid., Sept. 21, 1881, ICI; John Moody and George Kibbe Turner, “Masters of Capital in America,” McClures Magazine, Jan. 1911,337-38; Kennan, Harriman, 1:70. Kennan takes his version almost entirely from Moody.
28.Poor, Manual 1880,769-70.
29.Chronicle, 30:91,34:177,489,35:637,36:310; Clarke to Fish, Jan. 16, Oct. 5, 1882, IC; Clarke to Ackerman, Nov. 1, 1882, IC; Clarke to W. H. Osborn, Apr. 3, Nov. 29, 1882, IC; IC Directors minutes, Mar. 16, 1882, ICI; Clarke notice, Jan. 1, 1883, IC.
30.IC Directors minutes, Nov. 15, 1882, Jan. 17, Apr. 21, 1883, ICI; Clarke to Ackerman, Nov. 20, Dec. 9, 1882, IC; Ackerman to W. Bayard Cutting, Mar. 9, 1883, IC; Clarke to Fish, Mar. 27, 1883, IC; Clarke to Osborn, Feb. 2, Apr. 2, 1883, IC.
31.Chronicle, 36: 298; IC Directors minutes, Nov. 3, 1881, ICI; Poor, Manual 1882,691, 1883, 725.
32.IC Directors minutes, May 31, 1882, May 30, 1883, ICI; Moody and Turner, “Masters of Capital,” 338.
33.Clarke to Fish, May 24, 1883, IC; Ackerman to John Elliott, Aug. 11, 1883, IC; IC Directors minutes, July 18, Aug. 15, 1883, ICI. Ackerman was formally made first vice-president during his leave, then resigned at the end of it.
34.IC Directors minutes, Dec. 5,19, 1883, ICI.
35.Ibid., Dec. 19, 1883, ICI.
36.Ibid., Feb. 26, 1884, ICI; Clarke to Fish, Feb. 29, 1884, IC.
37.IC Directors minutes, Mar. 12, Apr. 16, 1884, ICI; Chronicle, 38:332, 40:337; Poor, Manual, 1884,701.
38.Chronicle, 38:87, 243-45; Moody and Turner, “Masters of Capital,” 338.
39.IC Directors minutes, May 21, July 16, 1884, Mar. 21, 1885, ICI.
40.New York Times, Apr. 11, 1923; Elizabeth Drexel Lehr, “King Lehr” and the Gilded Age (Philadelphia, 1935), 168-69.
41.Lehr, “King Lehr” and the Gilded Age, 169-70.
1.RGD, New York City, 397:A116, A140; Harriman to Stuyvesant Fish, Oct. 22, 1887, IC; DAB, 6:398. See George Kennan, E. H. Harriman, 2 vols. (New York, 1922), 1:74, for the standard version of Harriman’s departure from Wall Street.
2.RGD, New York City, 397:A140; Dissolution notice, Jan. 3, 1888, IC.
3.Carl Snyder, “Harriman: Colossus of Roads,” Review of Reviews 35 (Jan. 1907): 40.
4.Clarke to Fish, Mar. 2, 1886, IC; Chronicle, 42:338.
5.Clarke to James Fentress, Mar. 23, 1887, IC; Chronicle, 44:653; IC Directors minutes, Mar. 16, May 18, Sept. 28, Dec. 21, 1887, Apr. 18, 1888, ICI; William K. Ackerman, Historical Sketch of the Illinois-Central Railroad (Chicago, 1890), 134,137.
6.John Moody and George Kibbe Turner, “Masters of Capital in America,” McClure’s Magazine, Jan. 1911,338; Kennan, Harriman, 1:74; Harriman to Fish, July 17, 1884, Apr. 7, 1886, IC; Chronicle, 41:585, 612,42:306,43:245,44:310; Harriman to Vermilye & Co., July 9, 1886, IC; IC Directors minutes, Feb. 17, 1886, ICI; IC Exec. Com. minutes, June 30, Sept. 6, 1886, ICI.
7.Harriman to Fish, May 25, 1888, IC.
8.Harriman to Fish, Oct. 15, Nov. 15, 1886, Jan. 6,12, 22, 24, July 8,11,12, Aug. 1,4,5, 9,20, Sept. 19, 1887, IC; Chronicle, 43:607, 671, 44:118, 310, 526, 808, 46:383; Railroad Gazette, 19:427. These citations are but a sample of the large amount of correspondence by Harriman and his firm on borrowing and lending money for the Illinois Central.
9.Clarke to Fish, Jan. 6, 1885, IC; Harriman to Fish, Dec. 18, 1885, Mar. 3, Apr. 7, Oct. 15, Nov. 5, 29, 1886, Jan. 3, Feb. 1, 1887, IC; B. F. Ayer to Fish, Jan. 6, Oct. 7, Nov. 3, 1886, IC; Fish to Harriman, Nov. 4, 1886, IC.
10.Clarke to Fish, Aug. 27, 1885, Sept. 25, Oct. 8, Dec. 13, 1886, Jan. 27, Feb. 3, 1887, IC; Clarke to Osborn, Mar. 2, Apr. 10, 1883, IC; Chronicle, 37:479, 40:716, 43:190; John F. Stover, History of the Illinois Central Railroad (New York, 1975), 201. The 112-mile Chicago, Madison & Northern ran from Chicago to Freeport, with a 59-mile branch to Madison, Wisconsin, and a shorter one to Dodgeville.
11.Stover, History of the Illinois Central, 532.
12.Chronicle, 42:306, 46:382; Bill of complaint, Edward C. Woodruff vs. The Dubuque & Sioux City Railroad Company; Anthony J. Drexel, John Pierpont Morgan et al., Jan. 29, 1887,4-5, AF.
13.Clarke to Fish, Mar. 31, 1887, IC.
14.Jeffery to Fish, Apr. 11, 1886, IC; Chronicle, 43:766,44:21; Bill of complaint, 4-15, AF. The committee consisted of Jesup, Morgan, Roosevelt, and Lorenzo Blackstone.
15.Fish to Harriman, undated, IC; Answer of Anthony J. Drexel and others, Woodruff vs. The Dubuque & Sioux City Railroad Company; Anthony J. Drexel et al., Feb. 7, 1887, 2-3, AF.
16.Harriman to Fish, Feb. 11,12, 1887, IC.
17.Bill of complaint, 21-22, AF; Minutes of the annual meeting of the Dubuque & Sioux City Railroad, Feb. 14, 1887, IC; Chronicle, 44:235. The minutes are actually a detailed transcript.
18.Chronicle, 44:235, 362, 433-34, 494, 46:382; Ackerman to Clarke, Mar. 17, 1887, IC; IC Directors minutes, Apr. 6, 1887, ICI; Drexel, Morgan & Co. to Fish, Apr. 7, 1887, IC; Jesup et al. to Fish, Apr. 7, 1887, IC.
19.Herbert L. Satterlee, J. Pierpont Morgan: An Intimate Portrait (New York, 1939), 243-44.
20.Webster to Fish, Nov. 23, 24, 1887, IC.
21.James M. Fry letter, Jan. 20, 1988, IC. For the legal issues involved, see the brief by Clarence A. Seward, Nov. 29, 1887, IC, and Chronicle, 46:38, and the plaintiff’s amended petition of Feb. 1888, AF.
22.Harriman to Fish, Feb. 28, May 16, 1888, Nov. 2, 1891, IC; Fish to Harriman, Sept. 17, 1888, Feb. 12, 1889, July 26, Aug. 10, 1893, Nov. 3,15, 1894, Feb. 6, Apr. 1, May 1, June 11, July 30, 1895, IC; C. A. Clark to Harriman, Oct. 10, 1888, IC; Harriman to Clark, Dec. 6, 1888, IC; Chronicle, 44:291, 539-40; 59:919, 60:82, 794, 61:1154, 62:588, 63:29.
23.Chronicle, 44:526-27; IC Directors minutes, Jan. 20, Dec. 15, 1886, ICI; Stover, History of the Illinois Central, 204-5.
24.The difference in the names used to address Harriman and the places he frequented during the summer are both revealed in the correspondence cited throughout this book.
25.Referees Deed: William Vanamee to Edward H. Harriman, Nov. 3, 1886, AF; RGD, New York, 497:214, 521:130; Marian Gouverneur, As I Remember (New York, 1911), 119-23.
26.RGD, New York, 497:214, 226, 521:130.
27.Ibid., 497:37, 42, 214, 226,443, 462, 521:130, 522:253.
28.Ibid., 498:462; DAB, 14:261; Kennan, Harriman, 1:74-75, 2:30-32. Kennan’says the Parrotts were boyhood friends of Harriman; Roland Harriman’says his father met the Parrotts during the 1870s, before he was married (I Reminisce [Garden City, N.Y., 1975], 254). The account of this affair in Kennan contains several errors, including the incorrect date of 1885 for the sale.
29.Referees Deed: William Vanamee to Edward H. Harriman, Nov. 3, 1886, AF; Harriman, I Reminisce, 255-56; Kennan, Harriman, 2:30-31.1 am indebted to George Paffenbarger of Arden Farms for providing me a copy of this deed.
30.Edwin Wildman, “The Jekyll-Hyde Harriman,” Overland Monthly 51 (Mar. 1908): 3,210.
31.DAB, 11:411-12.
32.Cleveland Amory, The Last Resorts (New York, 1948), 77-122.
33.A picture of the house can be found in Harriman, I Reminisce, 64-65.
34.Fish to Harriman, May 24, 1887, IC.
1.E. Roland Harriman, I Reminisce (Garden City, N.Y., 1975), 6.
2.IC Directors minutes, Feb. 20, 1889, ICI.
3.Rush Loving Jr., “W. Averell Harriman Remembers Life with Father,” Fortune, May 8, 1978, 202.
4.Evidently this episode was a sensitive one in the family because Kennan omits all reference to Harry or his death or its effect on Harriman’s later career.
5.IC Directors minutes, Mar. 21, 1888, ICI; Fish to Harriman, Mar. 6, Mar. 14,15,16, 1888, IC.
6.E. T. Jeffery to Fish, June 6,7, 1888, IC. For an overview of the development of railroads as business enterprises, see Alfred D. Chandler Jr., The Visible Hand: The Managerial Revolution in American Business (Cambridge, Mass., 1977), 77-121.
7.IC Exec. Com. minutes, Apr. 5, 1888, ICI; IC Directors minutes, May 15, 1889, ICI; Harriman to Fish, June 27, 1888, IC; John F. Stover, History of the Illinois Central Railroad (New York, 1975), 204.
8.Harriman to Fish, Apr. 12 (two letters), 1888, IC; Fish to Harriman, Apr. 13,14, 1888, IC.
9.Fish to Harriman, May 12,22,23,26,28, 1888, IC; Harriman to Fish, May 17,24,25, 1888, IC; Fish to Jeffery, May 22, 1888, IC.
10.Harriman to Fish, June 11, 27, 1888, IC.
11.Jeffery to Fish, July 3, 1888, IC; Ayer to Fish, July 12, 1888, IC.
12.Luttgen to Fish, Sept. 27, 1888, Jan. 23, May 13, 1889, IC; Webster to Fish, Jan. 22, 1889, IC; IC Directors minutes, May 15, 1889, ICI.
13.IC Directors minutes, Apr. 4,17, 1889, ICI; Finance Com. minutes, May 8, 1889, ICI.
14.For more detail, see Maury Klein, The Life and Legend of Jay Gould (Baltimore, 1986), 177-79.
15.IC Directors minutes, July 25, 1888, ICI; Chronicle, 48:112-13,128; Fish to Jeffery, July 30, 1888, IC; Railroad Gazette, 21:62, 68,198. The dividend was handled on a semiannual basis so that each meeting declared a rate for half the year. The July 1888 rate of 3.5 percent was cut to 2.5 percent in January 1889.
16.Railroad Gazette, 19:582,595,596,644,821,847,854; Jeffery to Fish, July 22, 1888, Jan. 10, 1889, IC; Fish to Jeffery, Sept. 10, 1888, Jan. 8, 1889, IC; IC Directors minutes, Feb. 20, 1889, IC; Fish to Jeffery, Jan. 11,12, 1889, IC; Fish to Ayer and Fentress, Jan. 12, 1889, IC; Jeffery to Fish, Jan. 26, 1889, IC; Ayer to Fish, Feb. 18, 1889, IC; Fish to Charles F. Adams et al., Feb. 20, 1889, IC.
17.IC Directors minutes, Apr. 17, 1889, ICI.
18.Fish to Harriman, Jan. 23, Feb. 4,16, Aug. 3, 1888, May 6, 1889, IC; Harriman to Fish, Dec. 29, 1887, Jan. 9, Feb. 29, Apr. 2, May 19,23,29, July 11,20, 1888, IC; Levi P. Morton to Fish, May 9, 1888, IC; Railroad Gazette, 20:97,196, 263; Speyer & Co. to Fish, Mar. 29, 1888, IC.
19.Harriman to Fish, Feb. 1, 12, 1889, IC; Harriman to E. K. Wright, Feb. 6, 1889, IC; Harriman to John A. Stewart, Feb. 11, 1889, IC; Fish to Harriman, Feb. 12, 1889, IC; Harriman to Frederic Cromwell, Feb. 13, 1889, IC; Harriman to James Fentress, Feb. 26, 1889, IC.
20.Fish to James Fentress, Sept. 21, 1888, IC; Harriman to Fish, Oct. 5, 1888, IC; New York Sun, Feb. 17, 1889. For more on Ives, see Klein, Gould, 384, 467. The accounting error that probably inspired the Suns attack is discussed in Railroad Gazette, 21:198.
21.Boissevain Brothers to Fish, Mar. 2, 1889, IC; New York Sun, Mar. 5, 1889; Harriman to Fish, Mar. 2,14, 1889 (several items), IC; Fish to Harriman, Mar. 14, 1889 (several items), IC.
22.Fish to Boissevain Brothers, Mar. 15, 1889, IC; Chronicle, 48:368; Harriman to Fish, May 15, 1889, IC.
23.Jeffery to Judge Thomas M. Cooley, Apr. 1, Apr. 2, 1889, IC; Jeffery to Fish, Apr. 12, 1889, IC; Jeffery to C. H. Chappell, Apr. 29, 1889, IC.
24.Fish to Jeffery, May 31, June 11, 1889, IC; Fish to George Bliss, May 31, 1889, IC; Fish to Board of Directors, June 11, 1889, IC; Jeffery to Fish, June 17, 1889, IC; Jeffery to Harriman, Sept. 2, 1889, IC. This version of events is mostly Jeffery’s.
25.Jeffery to Fish, July 1, 6, 8, 1889, IC; IC Directors minutes, June 19, 1889, ICI; Jeffery to James Fentress, July 21, 1889, IC; Jeffery to Harriman, Sept. 2, 1889, IC.
26.Fish to Jeffery, July 5, 6, 1889, IC; Fish to Morton, Rose Co., June 28, 1889, IC; Fish to Harriman, July 9, 1889, IC.
27.Harriman to James Fentress, July 11, 1889, IC.
28.IC Directors minutes, May 15, 1889, ICI; Harriman to H. B. Plant, July 10, 1889, IC; Harriman to J. C. Welling, July 10, 1889, IC.
29.Jeffery to Harriman, July 15, 20, 1889, ICI; Harriman to S. V. R. Cruger, July 22, Aug. 14, 1888, IC; Harriman to Jeffery, July 16,30, Aug. 5, 1889, IC; Jeffery to T. J. Hudson, July 15, July 20, Aug. 7, 1889, IC; G. M. King to Harriman, Aug. 12, 1889, IC; Hudson to Jeffery, Aug. 12, 1889, IC; Jeffery to Fentress, July 21, 1889, IC; Jeffery to John Deary, July 24, 1889, IC; Railroad Gazette, 21:500-501. Several of Jeffery’s letters to friends about his resignation are in IC.
30.Harriman to Fish, Aug. 16, 1889, IC; Fish to Harriman, Sept. 1, 1889, IC.
31.Harriman to Jeffery, Aug. 13, 1889, IC; Jeffery to Harriman, Aug. 15, Sept. 2, 1889, IC; Jeffery memorandum, Sept. 2, 1889, ICI; Harriman memorandum, Sept. 2, 1889, ICI. The two accounts of the meeting agree on essential facts but differ slightly on sequence and give different coloring to their depiction.
32.Harriman memorandum, Sept. 2, 1889, ICI; Harriman to Jeffery, Sept. 2, 1889, IC; Jeffery circular, Sept. 2, 1889, IC; Chronicle, 49:316-17; Railroad Gazette, 21:588; Harriman to Fish, Sept. 2, 9, 24, 1889, IC.
33.Harriman to Board of Directors, Sept. 9, 1889, ICI; Harriman to Fish, Sept. 2, 9, 1889, ICI.
34.Fish to Harriman, Sept. 15, 1889, IC. For the conventional version of this incident, see George Kennan, E. H. Harriman, 2 vols. (New York, 1922), 1:82-87.
35.Chronicle, 49:316-17; Harriman to Hudson, Sept. 20, 21, 1889, IC.
36.Harriman to Beck, Sept. 2, 1889, IC; Harriman circular, Sept. 2, 1889, IC; Fentress to Harriman, Sept. 9, 1889, IC; Harriman to Fish, Sept. 2, 1889, IC.
37.John G. Mann to Harriman, Sept. 5, 1889, IC.
38.Ibid., Sept. 12, 1889, IC; Harriman to Mann, Sept. 9, 1889, IC; Chandler, Visible Hand, 175-82.
39.T. J. Hudson to J. C. Welling, Oct. 5, 1889, IC; Mann to Welling, Oct. 13, 1889, IC; Organization Board minutes, Oct. 25, 1889, IC. A copy of the new code is in ICI.
40.Harriman to Fish, Oct. 7, 1889, IC.
41.W. E. Ruttan to Harriman, Oct. 24, 1889, IC; Fish to Harriman, Oct. 26, 1889, IC.
42.Harriman to Fish, Nov. 11, 1889, IC; Fish to Board of Directors, Nov. 18, 1889, IC; Fish to Welling, Nov. 27, 1889, IC.
43.IC Finance Com. minutes, Dec. 5, 1889, ICI; IC Directors minutes, Nov. 20, Dec. 16, 1889, IC; Railroad Gazette, 22:33; Fish to Fentress, Dec. 16, 1889, IC.
44.IC Finance Com. minutes, Nov. 18, 1889, ICI; IC Directors minutes, Dec. 18, 1889, ICI; Harriman to Fish, Jan. 9, 1890, IC; Harriman to Fentress, Feb. 11, 1890, IC.
45.Fish to Jeffery, Jan. 28, 1889, IC; Jeffery to Fish, Apr. 7, 1889, IC; C. A. Beck to Harriman, Sept. 11, 1889, IC.
46.Fish to Jeffery, Jan. 28, 1889, IC; Jeffrey to Fish, Apr. 7, 1889, IC; C. A. Beck to Harriman, Sept. 11, 1889, IC; Fish to RRE com., Jan. 17,23, 1890, IC.
47.RRE com. minutes, Jan. 20, 1890, IC; “Report of Committee on Rates, Revenues and Expenditures,” Jan. 24, 1890, ICI.
48.Harriman to A. G. Hackstafif, Jan. 24, 1890, IC; IC Directors minutes, Jan. 4, 1890, ICI. The italics are in the original.
49.Kennan, Harriman, 1:88-92. Later writers picked up and embellished this same theme.
50.Harriman to Fentress, Feb. 11, 1890, IC; IC Directors minutes, Feb. 19, 1890, ICI; Fish to Harriman, Feb. 28, 1890, IC; Fish to Sidney Lawrence, Feb. 8, 1890, IC.
51.Fish to Harriman, Feb. 28, Mar. 1, 1890, IC; Harriman to Fish, Mar. 2, 1890, IC.
52.Harriman to Fish, Mar. 2, 1890, IC; IC Directors minutes, Mar. 19, 1890, ICI.
53.IC Directors minutes, Mar. 19, 1890, ICI.
54.Fish to William Boissevain, Mar. 25, 1890, SF.
55.Ibid.
56.IC Directors minutes, June 18, Oct. 20, 1890, ICI; IC Exec. Com. minutes, Oct. 15, 1890, ICI; IC Finance Com. minutes, Nov. 17, 1890, ICI; Fish to Messrs. Boissevain Bros, and Teixeira de Mattos Bros., Oct. 23, 1890, IC; Railroad Gazette, 22:744; Chronicle, 51:569. All improvements figures computed from data in Illinois Central annual reports for the period 1890-97.
1.IC Directors minutes, June 18, Oct. 20, 1890, ICI; Railroad Gazette, 22:708; New York Tribune, Oct. 9, 1890; Fish to editor of New York Tribune, Oct. 18, 1890, ICI; Chronicle, 51:417.
2.Fish to Boissevain Bros, and Teixeira de Mattos Bros., Oct. 23, 1890, IC; Chronicle, 51:400,418.
3.IC Finance com. minutes, May 19, 1890, July 13, Aug. 19, 1891, ICI; Fish to Walther Luttgen, Jan. 23, 1890, IC; Harriman to Speyer & Co. and August Belmont & Co., Jan. 31, 1890, IC; Harriman to Fish, Aug. 21, 1890, IC; Fish to J. W. Auchincloss, July 16, 1890, IC; Fish to Boissevain Brothers, Oct. 27, 1890, IC; Harriman & Co. to Fish, Feb. 5, Aug. 11, Sept. 21, Oct. 26, Dec. 14, 1891, IC; Chronicle, 51:114, 400, 418, 457, 493, 53:71, 455-57, 55:255-56,528-29,639; IC Directors minutes, May 21, July 23, 1890, Jan. 21, 1891, ICI.
4.Chronicle, 55:546; Harriman to Fish, Oct. 5, 1892, SF.
5.Otto H. Kahn, “Edward Henry Harriman,” in Stuart Bruchey, ed., Memoirs of Three Railroad Pioneers (New York, 1981), 1; George Kennan, E. H. Harriman, 2 vols. (New York, 1922), 1:93.
6.Harriman to Fish, Nov. 29, Dec. 8, 1892, SF; Fish to Harriman, Aug. 3, 1893, Sept. 18, 1894, IC; Chronicle, 56:103,127,57:533-34, 60:391,61:558, 966, 62:988, 63:76; Railroad Gazette, 25:736, 26:670, 27:144, 663, 814; Fish to Speyer & Co., Jan. 28, 1896, IC; Fish memorandum, Feb. 10, 1896, IC; Harriman to National Bank of Scotland, July 17, 1896, IC; Harriman to Bell, Cowan & Co., Jan. 26, 1897, IC; Harriman to Fish, July 22, 1896, IC.
7.Harriman to Fish, Apr. 2, 1897, IC.
8.Ibid.
9.Harriman to Fish, Mar. 10, 1892, IC.
10.Ibid., Dec. 18, 1888, Feb. 9, Mar. 20, June 1, Dec. 30, 1889, Feb. 25, 1890, IC; Fish to Harriman, Feb. 12, Mar. 30, Apr. 9, 1889, Oct. 28, 1892, IC; Harriman to Fentress, Dec. 19, 1888, Mar. 18,20, Apr. 11,18, Nov. 25, 1889, IC; Chronicle, 48:462,54:939, 964, 55:59, 679, 57:550.
11.Chronicle, 57:763, 1083,58:716,59:1006; IC Directors minutes, July 31, Nov. 15, 1893, ICI; Fish to Harriman, Nov. 17, Dec. 5, 1893, Jan. 2, Feb. 16, Mar. 10,13, 20, 26, Apr. 16, 24, May 7, 31, June 8, 28, 30, Sept. 27, Dec. 31, 1894, Feb. 1,19, 25, July 30, 1895, IC; Fish to August Belmont, Dec. 5, 1893, Feb. 16, May 7,15, 31, June 8, 1894, IC; Belmont to Fish, Feb. 27, 1894, IC.
12.Harriman to Fentress, June 29, July 22, Aug. 7, 1896, IC; Harriman to Fish, July 6, 1896, IC; Fish to Harriman, May 5, Nov. 28, Dec. 3,31, 1896, Feb. 3, Apr. 12,17, 22, 24, July 21, 26, 27, 29, Dec. 10, 1897, IC; Agreement between E. H. Harriman and Western Contract Co., Aug. 4, 1890, IC; Harriman to George W. Norton, Nov. 2, 1896, IC; Harriman to Post & Pomeroy, Dec. 8, 1896, IC; Chronicle, 64:42, 755, 65:111, 235, 415, 516; Railroad Gazette, 29:756.
13.Figures taken from company annual reports.
14.Kennan, Harriman, 1:93.
15.Vincent P. Carosso, with Rose C. Carosso, The Morgans: Private International Bankers, 1854-1913 (Cambridge, Mass., 1987), 373-75; Chronicle, 58:43,178, 223, 263-64.
16.Chronicle, 58:383, 408, 430, 474, 595, 636, 716, 941, 1073; Edwin Lefevre, “Harriman,” American Magazine 64 (June 1907): 121.
17.Chronicle, 58:1109, 59:291,781, 880, 920,945, 965, 1031,1058, 60:83,302,349,392,432, 657, 795,874,968, 1105,61:240,325,366-73,449,472,559,750,831,871,925, 1013; Carosso with Carosso, Morgans, 375-78.
18.Kennan, Harriman, 1:102-3; Herbert L. Satterlee, J. Pierpont Morgan: An Intimate Portrait (New York, 1939), 272.
19.Fish to Harriman, July 9,17, 1895, July 2, 1897, Nov. 3, 1898, Dec. 4,14, 1900, Aug. 21, 1901, IC; “Analysis of Sample Beets …” Nov. 28, 1896, IC; M. R. Spelman to E. P. Skene, Nov. 30, 1896, IC; Skene to J. C. Welling, Jan. 29, 1897, IC; Welling to Fish, Feb. 1, 1897, IC; Spelman to Fish, Feb. 16, 1897, IC; Harriman to Fish, Dec. 28,30, 1896, July 12, 1897, Mar. 1, 1898, IC; John E. Searles to Fish, Feb. 3, 1897, IC; A. L. Walburn to Fish, Sept. 21, 1898, IC.
20.S. M. Connico to Fish and Harriman, June ?, 1886, IC; J. T. Harahan to Fish, Jan. 28, 1897, IC; L. C. Fallon to Harahan, Jan. 26, 1897, IC; Fish to Harriman, Aug. 21, 1901, IC; Fish to Clarence F. Parker, Apr. 8, 1896, AF.
21.J. B. Berry, “Notes on J. B. Berry’s Association with Mr. E. H. Harriman,” June 21, 1911, 11, AF; Harriman to ?, Oct. 15, 1901, AF.
22.RGD, New York, 168:65; E. T. Jeffery to Harriman, Apr. 2, 1889, IC; G. Wallace Chessman, Governor Theodore Roosevelt (Cambridge, Mass., 1965), 15-17; W. W. Webb, “Some Recollections of Edward H. Harriman,” 3-6, AF.
23.Tegethoff to Fish, Feb. 27, 1903, SF.
24.E. Roland Harriman, I Reminisce (Garden City, N.Y., 1975), 2.
25.Russell Headley, ed., The History of Orange County; New York (Middletown, N.Y., 1908), 761-64.
26.Telephone interview with George Paffenbarger, Arden Farms, Jan. 25, 1989; RGD, New York, 502:6; Harriman, I Reminisce, 257. Letters from Harriman with the Arden Farms letterhead can be found in IC.
27.Headley, History of Orange County, 759-60; Harriman, I Reminisce, 232.
28.Headley, History of Orange County, 751-59; Kennan, Harriman, 1:103-4; Harriman, I Reminisce, 231-32.
29.RGD, New York, 502:6; Harriman, I Reminisce, 256-57; W. E. Ruttan to Harriman, Aug. 9, 1895, IC; WSJ, Aug. 8, 1897.
30.RGD, New York, 501:319.
31.Carl Snyder, “Harriman: ‘Colossus of Roads,’” Review of Reviews 35 (Jan. 1907): 45; Lefevre, “Harriman,” 127; Harriman, I Reminisce, 258.
32.Snyder, “Harriman,” 45-46; Harriman, I Reminisce, 259; C. M. Keys, “Harriman,” World’s Work 13 (Jan. 1907): 8464.
33.J. H. McGuinness to Kennan, Dec. 27, 1918, AF.
34.Harriman to men residents of Arden, Oct. 13,26, 1895, AF. These letters are contained in a document titled “For Church Organization at Arden, New York, during Winter Months,” AF.
35.Harriman to men residents of Arden, Oct. 26, 1895, AF.
36.Harriman to McGuinness, undated, AF; J. H. McGuinness, “The Personal Side of E. H. Harriman,” 7, AF. A shorter, less useful version of McGuinness’s article was printed in Sunset, Aug. 1911,196-98.
37.McGuinness, “Harriman,” 5,7-8.
38.Ibid., 6.
39.Ibid., 6-7.
40.Ibid., 6.
41.Ibid.
42.Harriman to Fish, Sept. 13, 1888, IC.
43.McGuinness, “Harriman,” 2-3.
44.Ibid., 4-5.
45.Ibid., 4; McGuinness to Kennan, Dec. 27, 1918, AF; Snyder, “Harriman,” 46; J. H. McGuinness, “The Other Side of E. H. Harriman,” Sunset, Aug. 1911,197.
46.Harriman, I Reminisce, 260-61.
47.McGuinness, “Harriman,” 7; C. Hart Merriam, “Recollections and Impressions of E. H. Harriman,” 20, AF.
48.Notes of Kennan interview with Melville E. Stone, 6, AF.
49.Lefevre, “Harriman,” 127.
1.W. E. Ruttan to Harriman, Aug. 9, 1895, IC; Fish to J. T. Harahan, Apr. 14, 1896, IC; WSJ, Sept. 8, 1899; Harriman to Fish, Jan. 26, 1899, SF; Tegethoff to Fish, Mar. 14, 1902, SF; undated memorandum, SF.
2.Jeffery to W. H. Holcomb, Nov. 24, 1888, IC.
3.Ibid., Nov. 21,24, 1888, IC; Holcomb to Jeffery, Nov. 23, Dec. 21, 1888, IC; Jeffery to Fish, Dec. 22, 1888, IC; John W. Doane to Fish, June 22, 1892, Jan. 26, 1894, IC. For the Union Pacific’s problems, see Maury Klein, Union Pacific: The Birth of a Railroad, 1862-1893 (New York, 1987), 584-658.
4.For background, see Klein, Union Pacific: Birth, 285-305,367-84,465-68,531-49.
5.Maury Klein, Union Pacific: The Rebirth, 1894-1969 (New York, 1990), 17-18; Chronicle, 65:800-801; WSJ, Mar. 9, 1895.
6.For more detail on these points see Klein, Union Pacific: Rebirth, 19-20.
7.This portrait of Schiff is drawn largely from Frieda Schiff Warburg, Reminiscences of a Long Life (New York, 1956), 51-57.
8.Ibid., 43; Cyrus Adler, Jacob Schiff: His Life and Letters, 2 vols. (Garden City, N.Y., 1928), 2:340.
9.Adler, Schiff, 1:1-10.
10.Ibid., 2:344.
11.Ibid., 2:341-46.
12.Ibid., 1:50.
13.Batson interview with Schiff, Mar. 20, 1911,1-2, AF; George Kennan, E. H. Harriman, 2 vols. (New York: 1922), 1:119-21; G. W. Batson to Mary Harriman, Mar. 20, 1911, AF; Schiff to Mary Harriman, Aug. 11, 1910, AF; Jacob H. Schiff, “E. H. Harriman: An Appreciation,” AF; Vincent P. Carosso, with Rose C. Carosso, The Morgans: Private International Bankers, 1854-1913 (Cambridge, Mass., 1987), 387-88. Kennan drew his version almost entirely from Batson’s interview after sending it to Schiff for correction. Schiff found some minor errors in the text but later approved Kennan’s final version as correct in every sense. Since he also gave Mary Harriman essentially the same story, it must be assumed that this is the version Schiff preferred. There is also a manuscript copy of Batson’s version of the reorganization with corrections by Schiff and notes by Kennan, AF. See Kennan to Schiff, Mar. 12, 1917, AF; Schiff to Kennan, Mar. 13, Oct. 22, 1917, AJA, and Mar. 14, 1917, AF.
14.WSJ, Oct. 11,14, 1895; New York Times, Oct. 12,15, 1895. Klein, Union Pacific: Rebirth, 22-23, has more details on the plan, a copy of which is in Chronicle, 61:705-7.
15.Klein, Union Pacific: Rebirth, 24; Schiff interview, 2-3, AF.
16.Finance Com. minutes, Dec. 19, 1894, ICI; Fish to Harriman, Jan. 2, 1897, IC; Harriman to Fish, Jan. 14, 1897, IC; Adler, Schiff1:93,121.
17.Fish to George Gould, Dec. 28, 1896, IC; Fish to Harriman, Jan. 7, Mar. 31, Apr. 17, 1897, IC. The quotation is from the Jan. 7 letter.
18.For more detail on this myth see Chapter 8. The views of the Wall Street Journal are best obtained by scanning the paper for the period 1896-98. See, for example, WSJ, Jan. 27, 29, Feb. 20, Apr. 8, 9, 21,30, Sept. 2, Oct. 21, 1896.
19.Fish to O. O. Telerton, Dec. 28, 1896, IC.
20.Fish to Harriman, Jan. 2, 1897, IC; Joel D. Hubbard to Fish, Jan. 5, 1897, IC; Fish to Hubbard, Jan. 7, 1897, IC; Harriman to Fish, Jan. 14, 1897, IC; Fish to J. T. Harahan, Jan. 20, 1897, IC.
21.Schiff interview, 3-4, AF; Batson manuscript on reorganization as corrected by Schiff, AF.
22.Harriman to Fish, Jan. 14, 1897, IC.
23.WSJ, Jan. 11-15,19. 21-27, 1897; New York Times, Jan. 12,15,16, 21-26, 1897; Chronicle, 64:136, 235; Hubbard to Fish, Feb. 3, 1897, IC; J. C. Welling to Fish, Feb. 5, 1897, IC; Harahan to Fish, Feb. 5, 1897, IC; Russell Sage to Fish, Feb. 9, 1897, IC; Fish to George P. Harrison, Feb. 9, 1897, IC; Chicago Inter Ocean, Feb. 9, 1897; Philadelphia American, Feb. 13, 1897; John C. Bell to Fish, Feb. 27, 1897, IC; John F. Shafroth to Fish, Mar. 1, 1897, IC; George D. Perkins to Fish, Mar. 2, 1897, IC; John C. Coombs to Fish and Harriman, Mar. 5, 1897, IC; Railroad Gazette, 29:88; Klein, Union Pacific: Rebirth, 26.
24.John Moody and George Kibbe Turner, “Masters of Capital in America,” McClure’s Magazine, Jan. 1911,341; Railroad Gazette, 29:738.
25.New York Times, Feb. 4, 1897; WSJ, Feb. 4, 8, 1897.
26.WSJ, May 24, 1897; Schiff interview, 4-5, AF.
27.Schiff interview, 4-5, AF; Kennan, Harriman, 1:126. The date of this meeting is unknown, but it probably took place in the spring of 1897. Curiously, one contemporary writer got hold of this story. See Moody and Turner, “Masters of Capital,” 340-41.
28.Fish to Harriman, July 2, 1897, IC. Details on Harriman’s share in the syndicate are in Harold van B. Cleveland and Thomas F. Huertas, Citibank, 1812-1970 (Cambridge, Mass., 1985), 36.
29.Chronicle, 66:17; WSJ, Feb. 13, May 5,17, July 27, Aug. 12-14, 1897.
30.Klein, Union Pacific: Rebirth, 27-28; Notes of Kennan interview with Schiff, Apr. 21, 1917, AF.
31.Pierce to Stillman, Dec. 7, 1897, UPN; Schiff to Pierce, Nov. 4, Dec. 6, 1897, Jan. 2, 1898, UPN; WSJ, Nov. 8, Dec. 27, 1897, Jan. 6, 1898; Railroad Gazette, 29:877, 936, 30:88; Chronicle, 66:290; New York Times, Nov. 9, Dec. 28, 1897; Pierce to Oliver W. Mink, Dec. 20, 1897, UPN; Burt to Schiff, Dec. 31, 1897, UPN.
32.Chronicle, 66:39.
33.Otto H. Kahn, “Edward Henry Harriman,” in Stuart Bruchey, ed., Memoirs of Three Railroad Pioneers (New York, 1981), 10-11; Batson interview with Stillman, Feb. 10, 1911, 1-2, AF.
34.Schiff to Pierce, Jan. 2, 1898, UPN; Harriman to Pierce, Jan. 17, 1898, UPN.
35.Schiff to Pierce, Apr. 11, 1898, UPN; Batson minutes, 1-2, AF; Railroad Gazette, 30:382. The Union Pacific minute books for the Harriman years were lost in the Equitable Building fire of 1912. Batson examined the books before the fire and made some notes from them.
36.Fish to Harriman, June 28, Sept. 30, 1898, IC; Railroad Gazette, 30:905; Fish to John Jacob Astor, Oct. 6, 1899, IC; John F. Stover, History of the Illinois Central Railroad (New York, 1975), 142-43.
37.Batson manuscript on struggle for possession of Burlington, 14, AF.
38.Alexander Millar, Edward H. Harriman and the Union Pacific Railroad (New York, 1910), 5.
1.George Kennan, E. H. Harriman, 2 vols. (New York, 1922), 1:143; Jacob H. Schiff, “E. H. Harriman: An Appreciation,” 2, AF; Fortune, May 8, 1978,202. Virtually every source on Harriman cited in these notes follows this same theme.
2.WSJ, Jan. 27, 1896, Oct. 15, 1897. See also WSJ, Dec. 12, 1893, Nov. 2, 1895, Jan. 29, Apr. 8, 21, Sept. 2, Nov. 16, 1896, Jan. 20, Aug. 12, Oct. 12, Nov. 18, 1897, Mar. 15, 1898. For a description of the road’s original condition, see the testimony of W. L. Park in United States of America v. Union Pacific Railroad Company et al, U.S. Circuit Court for the district of Utah, docket no. 993, 9:4280-81; hereafter cited as USA v. UP.
3.Alexander Millar, Edward H. Harriman and the Union Pacific Railroad (New York, 1910), 4; W. H. Bancroft, “Impressions of Mr. E. H. Harriman,” 1, AF; WSJ, May 12, 1898.
4.Edward Livingston Trudeau, An Autobiography (Garden City, N.Y., 1916), 95. Details on the trip are taken from J. B. Berry, “Notes on J. B. Berry’s Association with Mr. E. H. Harriman,” June 21, 1911, 5-11, AF; Mary Harriman and Cornelia Harriman, Diary of a Trip (Privately printed, 1898), UPO. The diary kept by the girls enables one to reconstruct the trip’s itinerary and provides details not found elsewhere.
5.Berry, “Notes,” 6, AF.
6.Michael P. Malone, The Battle for Butte: Mining and Politics on the Northern Frontier, 1864-1906 (Seattle, 1981), 103; Berry, “Notes,” 8, AF.
7.Berry, “Notes,” 6, AF; Harriman and Harriman, Diary, 12.
8.Berry, “Notes,” 11, AF. Berry is probably wrong on the price he quotes; the highest price at which Union Pacific preferred sold during July 1898 was 621/8. See Chronicle, 68:25. For evidence of the buying, see WSJ, July 19, 1898.
9.Otto H. Kahn, “Edward Henry Harriman,” in Stuart Bruchey, ed., Memoirs of Three Railroad Pioneers (New York, 1981), 12-14.
10.Ibid.; Batson minutes, 2-3.
11.Kahn, “Harriman,” 14-15.
12.Edwin Lefevre, “Harriman,” American Magazine64 (June 1907): 126.
13.Kennan to Mary Harriman, May 15, 1921, AF. Lovett’s statement is contained in this letter.
14.Stillman interview, 5, AF.
15.Galveston News, Sept. 10, 1909.
16.W. L. Park, “Personal Recollections of Mr. Harriman in connection with the Union Pacific,” 6, AF; George Kennan, “Notes of Talk with Mr C. B. Seger,” Jan. 7, 1917, AF.
17.Julius Kruttschnitt, “Three Business Giants for Whom I Worked,” American Magazine 92 (Nov. 1921): 37.
18.New York Times, June 30, 1898; Chronicle, 67:30; Railroad Gazette, 30:502.
19.Berry, “Notes,” 4,10,12; Berry to Kennan, Apr. 10, 1917, AF; Samuel M. Felton, “The Genius of Edward H. Harriman,” American Magazine 99 (Apr. 1925): 9-10,184; Bancroft, “Impressions,” 2-4; W. F. Herrin, “Personal Impressions of E. H. Harriman,” 4, AF.
20.Herrin, “Impressions,” 4; Berry, “Notes,” 8, 10; Felton, “Genius of Harriman,” 9, 12; Kennan interview with F. D. Underwood, Feb. 11, 1916, 2, AF.
21.Felton, “Genius of Harriman,” 10-11; William Mahl, “Memoirs, 1860-1910,” 44, William Mahl Papers, University of Texas Library. I am indebted to Kenneth Lipartito for calling the Mahl Papers to my attention.
22.Felton, “Genius of Harriman,” 184.
23.Millar, “Harriman,” 13; W. V. Hill, “Mr. Edward Henry Harriman,” 4, AF. Hill was one of Harriman’s secretaries.
24.Harriman to Burt, Feb. 6, 1899, UPL.
25.Felton, “Genius of Harriman,” 9.
26.Kahn, “Harriman,” 2.
1.J. B. Berry, “Notes on J. B. Berry’s Association with Mr. E. H. Harriman,” June 21, 1911, 2-5, AF; WSJ, Sept. 16, Nov. 21, 1898, Jan. 24, Mar. 3, 1899.
2.Batson minutes, 5-6.
3.Ibid., 4; Alex Millar to Winslow Pierce, Nov. 1, 1898, UPN; New York Times, Oct. 13, 1898; WSJ, Dec. 2, 1898; Railroad Gazette, 30:884.
4.Harriman to Burt, Sept. 2, 5, 1898, UPO.
5.Kennan memorandum of talk with C. B. Seger, Jan. 7, 1917, AF; W. L. Park, “Personal Recollections of Mr. Harriman in connection with the Union Pacific,” 2, AF. See also Harriman to Burt, July 22, 1898, UPO.
6.Batson minutes, 2; Park, “Recollections,” 2-3. Between 1901 and 1909 the Union Pacific acquired 522 new locomotives, 258 passenger cars, 12,499 freight cars, and 707 work cars. These figures are taken from annual reports.
7.WSJ, Aug. 18, 1899.
8.Park, “Recollections,” 4; Burt to Harriman, Apr. 3, 1899, UPL; Millar to Burt, July 2, 1898, UPO; Annual Report of the Union Pacific Railroad Company, 1899, 9; hereafter cited as UP Report.
9.Kennan interview with Seger, Jan. 7, 1917, AF. The following incident occurred after Harriman had acquired other roads to create a system exceeding nine thousand miles in all.
10.Samuel M. Felton, “The Genius of Edward H. Harriman,” American Magazine 99 (Apr. 1925): 11.
11.The 1899 figures are calculated from data in UP Report, Nov. 1899,11. There are two annual reports for 1899, one dated June 30, the other November 1.
12.Rail figures are calculated from data in UP Report, 1902,15, and 1909,19.
13.Batson minutes, 6; Kansas City World, Sept. 17, 1903; Berry, “Notes,” 7; Railroad Gazette, 31:180; WSJ, Apr. 4,18, 1899.
14.See, for example, WSJ, Jan. 11, 1902.
15.Scientific American, 86:240; Railroad Gazette, 33:186.
16.Railroad Gazette, 33:186-87,36:226-27. These articles are good summaries of the reconstruction work. One is by Berry himself, the other by a subordinate engineer.
17.Railroad Gazette, 36:226-27; Park, “Recollections,” 12-13. The old line would do as a second track because the worst grades could be used for descending instead of ascending.
18.Park, “Recollections,” 7.
19.Railroad Gazette, 33:187.
20.Park, “Recollections,” 7.
21.Maury Klein, Union Pacific: The Rebirth, 1894-1969 (New York, 1990), 59.
22.For more detail on the Aspen tunnel, see ibid., 60-61.
23.Batson minutes, 6-10; Harriman to Burt, Sept. 9, 1902, UPL; Klein, Union Pacific: Rebirth, 56-57. For the story of the original oxbow see Maury Klein, Union Pacific: The Birth of a Railroad, 1862-1893 (New York, 1987), 57-61.
24.For details on the construction of the Lane cutoff, see Railroad Gazette, 41:549-52.
25.Klein, Union Pacific: Rebirth, 61; Park, “Recollections,” 30.
26.Park, “Recollections,” 21.
27.WSJ, Aug. 18, 1899; Klein, Union Pacific: Rebirth, 61.
28.United States of America v. Union Pacific Railroad Company et al, U.S. Circuit Court for the District of Utah, docket no. 993, 9:4281-82, hereafter USA v. UP.
29.Ibid., 4195, 4281,4283.
30.Robert S. Lanier, “Harriman the Absolute,” Review of Reviews 40 (Oct. 1909): 469.
31.Klein, Union Pacific: Rebirth, 62.
32.Ibid., 62-63; USA v. UP, 9:4192, 4196,4280, 4284-85.
33.Klein, Union Pacific: Rebirth, 64.
34.USA v. UP, 9:4299; Park, “Recollections,” 18-20.
35.Park, “Recollections,” 18.
36.Klein, Union Pacific: Rebirth, 65.
37.Ibid., 66.
38.WSJ, Jan. 18, 1905.
39.Berry, “Notes,” 13-14.
40.USA v. UP, 9:4123-25, 4286. The figures in this and the next paragraph are calculated from the table on p. 4125.
41.Klein, Union Pacific: Rebirth, 67; WSJ, Sept. 13, Oct. 3, 1898.
42.Batson minutes, 10; WSJ, Sept. 19, 23, 1898; New York Times, Sept. 23, 1898; Chronicle, 67:635.
43.Chronicle, 68:25; WSJ, Oct. 3,14, 20, Nov. 10,11, 1898.
1.Carl Snyder, “Harriman: ‘Colossus of Roads,’” Review of Reviews 35 (Jan. 1907): 45; E. Roland Harriman, I Reminisce (Garden City, N.Y., 1975), 9.
2.Harriman, I Reminisce, 10; Fortune, May 8, 1978,197.
3.John Muir, Edward Henry Harriman (N.p., n.d.), 21-24. This brief tribute was privately printed. I am grateful to the late W. Averell Harriman for giving me a copy.
4.Harriman, I Reminisce, 17.
5.Muir, Harriman, 24-26.
6.Maury Klein, Union Pacific: The Rebirth, 1894-1969 (New York, 1990), 70-71. Late in 1898 the Gulf road was reorganized into the Colorado & Southern Railway.
7.For more detail on these developments, see Maury Klein, Union Pacific: The Birth of a Railroad, 1862-1893 (New York, 1987), 559-65.
8.Klein, Union Pacific: Birth, 560.
9.For more detail on these intrigues, see ibid., 566-83.
10.The definitive biography of Hill is Albro Martin, James J. Hill and the Opening of the Northwest (New York, 1976). For a brief portrait, see the fine sketch by Martin in Encyclopedia of American Business History and Business: Railroads in the Nineteenth Century (New York, 1988), 169-76.
11.This account follows closely the version in Martin, Hill, 434-59.
12.Ibid., 455, 458-59. For one unsavory episode of Mellen’s earlier career, see Klein, Union Pacific: Birth, 612-21.
13.W. H. Bancroft, “Impressions of Mr. E. H. Harriman,” 5-6, AF; Harriman to Burt, Sept. 16, 1898, UPN. For more detail, see Klein, Union Pacific: Rebirth, 72-74.
14.Klein, Union Pacific: Rebirth, 73.
15.Ibid., 75.
16.Ibid., 76.
17.Hill to Morgan, Aug. 2, 1898, JJH; Hill to E. D. Adams, Mar. 28, Apr. 4, 1898, JJH; Hill to W. L. Bull, Apr. 4, 1898, JJH; Mohler to Hill, Jan. 16, Feb. 2, 1898, JJH; Hill to Mohler, Jan. 25, May 14, 1898, JJH; WSJ, Jan. 17, 1898; Railroad Gazette, 30:82,107. For Mohler, see NCAB, 33:197.
18.Hill to D. S. Lamont, July 17, 1898, JJH; Hill to Bull, July 2, 1898, JJH.
19.Hill to Lamont, July 17, 1898, JJH; Harriman to Burt, July 22, Aug. 4, Sept. 2, 1898, UPO.
20.The following scene is taken from “In the matter of the Oregon Railroad & Navigation Company: Minutes of Conference,” Oct. 3, 1898, JJH.
21.DAB, 10:563-64; Who Was Who in America, Historical Volumes, 1897-1942 (Chicago, 1942), 1:164,700, 1229.
22.Hill to Bull, Oct. 31, 1898, JJH; WSJ, Nov. 16, Dec. 14, 1898; Railroad Gazette, 30:852,886, 904; Mohler to Hill, Dec. 30, 1898, JJH.
23.WSJ, Jan. 10, 13, Feb. 10, 25, Mar. 15, Apr. 14, 24, June 13, July 15-18, 1899; Railroad Gazettey 31:33,73,108,132, 236,305,393,483, 515,532; Hill to J. P. Morgan & Co., Mar. 25, 1899, JJH; Hill to Coster, Apr. 15, 1899, JJH; Chronide,69:181.
24.Hill to Mohler, July 19, Aug. 1, 1899, JJH; WSJ, July 22,31, 1899.
25.Omaha Bee, Aug. 9, 1899; WSJ, Aug. 15, 28, 31, 1899; Harriman to Mohler, Aug. 7, 31, 1899, UPO; Railroad Gazette, 31:620. The truce was renewed in January 1900 and then again in 1901 for an indefinite period. For details, see Harriman to Mohler, Jan. 16, Oct. 2, 1900, UPO; memorandum of understanding between Harriman and Mellen, Jan. 12, 1900, UPO; B. Campbell to Mohler, Apr. 1, 1901, UPO.
26.UP Exec. Com. minutes, Aug. 31, Sept. 13, 1899, UPL; Oregon Short Line Exec. Com. minutes, Sept. 12, 1899, UPL; Chronicle, 69:492, 542, 592, 695; WSJ, Oct. 10, 1899; Railroad Gazette, 31:620, 634, 649, 668, 702, 720; Harriman to Mohler, Aug. 31, 1899, UPO.
27.Harriman to Mohler, Aug. 7, 1899, UPO.
28.Hill to Bull, Aug. 18, 1899, JJH; Hill to Coster, Aug. 19, 1899, JJH; Hill to Harriman, Sept. 12, 1899, JJH.
29.J. B. Berry, “Notes on J. B. Berry’s Association with Mr. E. H. Harriman,” June 21, 1911, 14, AF; Klein, Union Pacific: Rebirth, 81-82.
30.Frank H. Spearman, “Building Up a Great Railway System,” Outlook 91 (Feb. 1909): 443; Kruttschnitt to Batson, Apr. 11, 1911, AF.
31.Kruttschnitt to Batson, Apr. 11, 1911, AF; Harriman to Burt, Sept. 15, 1899, UPL.
32.Spearman, “Building Up a Great Railway System,” 443-44; Burt to Harriman, Sept. 16, Oct. 2, 1901, UPL; UP Exec. Com. minutes, Dec. 1, 1906, UPL.
33.Berry, “Notes,” 8; George Kennan, “Notes of Talk with F. D. Underwood,” Feb. 11, 1918, 3, AF.
34.W. L. Park, “Personal Recollections of Mr. Harriman in Connection with the Union Pacific,” 15-17, AF.
1.Anna Robeson Burr, The Portrait of a Banker: James Stillman (New York, 1927), 196; Frank A. Vanderlip, From Farm Boy to Financier (New York, 1935), 113-14.
2.Vanderlip, From Farm Boy to Financier, 112; Henry Morgenthau, All in a Life-Time (Garden City, N.Y., 1922), 65; Burr, Portrait of a Banker, 72.
3.Burr, Portrait of a Banker, 7-83; DAB, 18:25-26; Harold van B. Cleveland and Thomas F. Huertas, Citibank, 1812-1970 (Cambridge, Mass., 1985), 32-35; New York World, Apr. 24, 1901.
4.Edwin Lefevre, “James Stillman,” Cosmopolitan 35 (July 1903): 334; Cleveland and Huertas, Citibank, 33.
5.DAB, 18:25-26; Burr, Portrait of a Banker, 182-94; Morgenthau, All in a Life-Time, 77.
6.Cleveland and Huertas, Citibank, 33,37.
7.Ibid., 37, 40. Stillman took a $5.8 million share for himself and a $1.8 million share for City Bank in the selling syndicate. Kuhn, Loeb underwrote the entire reorganization and took a $6.5 million share in the selling syndicate. The latter totaled $105 million.
8.Stuart Daggett, Railroad Reorganization (Boston, 1908), 1-29; Cyrus Adler, Jacob Schiff: His Life and Letters, 2 vols. (Garden City, N.Y., 1928), 1:143-45; Henry V. Poor, Manual of the Railroads of the United States (New York, 1899), 70; Hill to W. H. Newman, Sept. 21, 1898, JJH; Hill to E. T. Nichols, Nov. 26, 1898, JJH; Harriman to Fish, Oct. 25, Nov. 14, 1898, SF; Chronicle, 69:128.
9.Albro Martin, James J. Hill and the Opening of the Northwest (New York, 1976), 433; Hill to John K. Cowen, Oct. 30, 1898, JJH; Hill to Underwood, Feb. 18, 1899, JJH; WSJ, Jan. 16, 1899; Hill to Schiff, Sept. 7, 1899, JJH. For Underwood, see DAB, supplement 3:783-84.
10.George Kennan, “Notes of Talk with F. D. Underwood,” Feb. 11, 1918, AF; WSJ, Jan. 4, Mar. 22, 1899.
11.Daggett, Railroad Reorganization, 31-32; Hill to W. R. Lawson, Jan. 19, 1900, JJH; Hill to Schiff, Jan. 27, June 20, 1900, JJH; Hill to A. J. Cassatt, Apr. 16, 1901, JJH; Adler, Schiff, 1:145-46.
12.Carl Snyder, “Harriman: ‘Colossus of Roads,’” Review of Reviews 35 (Jan. 1907): 48.
13.For Stilwell and his career, see Keith L. Bryant Jr., Arthur E. Stilwell: Promoter with a Hunch (Nashville, 1971). The Pittsburg in the road’s name was a small town in the coal region of Kansas.
14.Ibid., 20-38, 59-139,148-50,162; George Kennan, E. H. Harriman, 2 vols. (New York, 1922), 1:216-17; WSJ, Apr. 13, 1899; L. F. Loree to Kennan, Jan. 29, 1920, AF. Bryant disputes Kennan’s assertion that Stilwell weakened his line by trying to include as many town sites as possible. Loree’s letter was the basis for Kennan’s statement.
15.Arthur E. Stilwell, Cannibals of Finance (Chicago, 1912), 50,78-81; Bryant, Stilwell, 138-39, 154-57; W5J, Aug. 30, Oct. 24, 27, 1898, Jan. 3, 14, 20, 21, 1899; Loree to Kennan, Jan. 29, 1920, AF.
16.WSJ, Jan. 3,14, 20, 21, Feb. 4,16, Mar. 4,17, 1899; Chronicle, 68:187, 524, 618; Otto H. Kahn, “Edward Henry Harriman,” in Stuart Bruchey, ed., Memoirs of Three Railroad Pioneers (New York, 1981), 3; Kennan, Harriman, 1:218; Loree to Kennan, Jan. 29, 1920, AF. Loree later became president of the road.
17.Chronicle, 68:672, 723-24, 772, 824; WSJ, Mar. 27, 30, Apr. 5-7,12,13,18-20, 29, May 2, July 8,13, Aug. 8, 1899; Bryant, Stilwell, 154-57.
18.WSJ, Apr. 29, July 25, Aug. 3, Sept. 25, 1899; Chronicle, 68:1024. There was, said the Wall Street Journal “so much of a ‘get-rich quick’ atmosphere surrounding the whole enterprise, and so much ‘milking’ of the railroad by other organizations and companies, that it was foredoomed to failure from the outset.”
19.Samuel M. Felton, “Report on the Kansas City Pittsburgh [sic] 8c Gulf Railroad,” July 1899, SMF; Chronicle 68:871, 1024-25, 1225-26, 69:27, 283,384-85,440. Bryant, Stilwell, 152, argues that Felton “desired engineering and operational perfection and the changes asked for were too drastic.” He fails to grasp that Felton was viewing the road from the Harriman perspective that creating a modern line capable of hauling a large tonnage at low cost was its only chance for a profitable future. To say, as Bryant does, that the Gulf road “was a pioneer railroad through a wilderness most of its length, not a major trunk line from Chicago to New York,” is to miss the point. By 1900 the age of “pioneer” roads had passed, and no road forming part of a through line could compete with other major systems unless it had been modernized.
20.Chronicle, 69:333, 491-92, 591, 645; WSJ, Aug. 11,18, 21-23, 25, Sept. 1,13, 1899; Bryant, Stilwell, 158-59; Stilwell, Cannibals, 79; Kahn, “Harriman,” 3; Kennan, Harriman, 1:219-Kennan, relying on Kahn’s version, asserts that Stilwell and his friends sold all their holdings to Gates without telling Harriman. Bryant is vague on how much Stilwell sold but leaves the impression that he still had some holdings even though he lost control of the Philadelphia committee.
21.WSJ, Aug. 22, 1899; Kahn, “Harriman,” 3. Kahn’s version is the only “inside” account of what happened, but it must be used carefully.
22.Kahn, “Harriman,” 4-5; Kahn to Kennan, Jan. 20, 1919, AF.
23.DAB, 7:188-90; New York Times, Aug. 9, 1911; WSJ, Jan. 9, 1899; Lloyd Wendt and Herman Kogan, Bet a Million! The Story of John W. Gates (Indianapolis, 1948). The Wendt and Kogan book is colorful but not reliable.
24.Bernard M. Baruch, My Own Story (New York, 1957), 145.
25.WSJ, Sept. 22, Sept. 25, Oct. 27, 28, 30, 1899; Stilwell, Cannibals, 85. After this remark Stilwell added, “(the details of which I will not reveal in this book as it involves names and trickery which under no circumstances would I reveal now.)” His reticence seems odd since he did not hesitate to reveal what he deemed trickery elsewhere. His version of events is, to say the least, selective.
26.Kahn, “Harriman,” 5; Bryant, Stilwell, 160-61; Chronicle, 69:955, 1012,1062, 1247,1301, 1346, 70:280, 584, 633, 945, 1149, 1249, 71:84; WSJ, Oct. 30, Nov. 1, 6, 17, Dec. 15, 1899, Jan. 4,10,13,17, 20, 27, Feb. 2, Mar. 20, 29, Apr. 3, Aug. 30, 1900; Harriman to John J. Mitchell, May 15, 1900, AF; Harriman to W. F. Harrity, May 16, June 13, 1900, AF; Harriman to S. R. Knott, July 6, 1900, AF. Kahn’s account combines and telescopes events.
27.WSJ, Feb. 15, 1898, Jan. 21, Aug. 12, 17, 21-26, 1899; Chronicle, 69:743, 906; Bryant, Stilwell, 149,159-61.
28.Chronicle, 71:863; WSJ, May 9,11-14, 1900. The voting trust had seven members, four of whom were controlled by Gates.
29.Harriman to Gates, Oct. 12, 1900, AF; Harriman to Mercantile Trust Co., Oct. 18, 1900, AF; Kahn, “Harriman,” 5; Gates et al. to John J. Mitchell, Oct. 26, 1900, AF; Chronicle, 71:863, 913; New York Times, Oct. 31, 1900; WSJ, Oct. 27, 29,31, 1900.
30.WSJ, Nov. 6, 1900; New York Times, Oct. 31, 1900; Chronicle, 71:913, 963-64.
31.WSJ, Nov. 28, 1900, Feb. 1, 28, Mar. 15,16, Apr. 30, May 18, 1901; Bryant, Stilwell, 165.
32.NCAB, 20:203-4; Poor, Manual, 1881, 616, Manual, 1888,357, Manual, 1896,444.
33.All figures taken from Poor, Manual, 1881, 617, Manual 1889, 345, Manual 1897, 347, Manual 1899, 246. The statement by Ripley that for many years before 1898 the Alton had enjoyed a “constantly expanding business” is so inaccurate that one wonders if he ever looked at the relevant data. See William Z. Ripley, Railroads: Finance and Organization (New York, 1915), 263.
34.Quoted in Kennan, Harriman, 2:231.
35.WSJ, Mar. 3,4, Oct. 1, Nov. 14,16, 1898.
36.Ibid., Nov. 16,17, Dec. 2,3,10,16, 1898; Chronicle, 67:1054, 1262; “Statement by Mr. E. H. Harriman in Answer to Report of Interstate Commerce Commission,” July 17, 1907, 3, AF. According to Kennan's cover notes, this statement was prepared from Harriman’s dictation by noted corporation lawyer Samuel C. T. Dodd. There are two versions of this statement, which was never released publicly (see prologue). The draft version was given Kennan by Mary Harriman, the finished one by M. E. Stone. Copies of both versions are at AF. The second one is a revision of this earlier draft; unless otherwise stated, my citations come from this original version. Kennan’s defense of the Alton transaction is derived largely from this statement.
37.Harriman, “Statement,” 3-4; NCAB, 20:203; WSJ, Nov. 16, 1898, Oct. 28, 1903.
38.Samuel M. Felton, “The Genius of Edward H. Harriman,” American Magazine 99 (Apr. 1925): 9.
39.Ibid., 10; WSJ, Dec. 16, 1898, Jan. 4,10, 1899.
40.Felton, “Genius of Harriman,” 10; Samuel M. Felton, “Report on the Chicago and Alton Railroad,” Jan. 7, 1899, SMF.
41.Felton, “Report on the Chicago and Alton,” 38,43; Harriman, “Statement,” 4-5.
42.Harriman to Fish, Apr. 19, 1899, SF.
43.Harriman, “Statement,” 6-7; WSJ, Dec. 21,22, 1898, Jan. 14,25,26,30, Feb. 1-4,7-10,14,
20, 23, 25, 27, Mar. 2,3, Apr. 3, 1899; Chronicle, 68:249-50,281,427,617. Blackstone lived only until May 1900.
44.Harriman, “Statement,” 7; WSJ, Mar. 14,16, 22, Apr. 12,19, May 20, 23, 1899; Chronicle, 68:670; Fish to Harriman, Apr. 11, 13, 1899, IC. For differing interpretations of these transactions, see Kennan, Harriman, 2:228-310; Ripley, Railroads, 262-66; William Z. Ripley, “Federal Financial Railway Regulation: The Alton as a Test Case,” North American Review 203 (Apr. 1916): 538-52; George Kennan, The Chicago and Alton Case: A Misunderstood Transaction (Garden City, N.Y., 1916), and Kennan, Misrepresentation in Railroad Affairs (Garden City, N.Y., 1916); James C. Bonbright, Railroad Capitalization (New York, 1920), 169-85.
45.WSJ, Aug. 14, 1899; Chronicle, 69:178,228,70:739; Kennan, Harriman, 2:236,247-50; “In the matter of Consolidations and Combinations of Carriers, Relations between such Carriers, and Community of Interests Therein, Their Rates, Facilities, and Practices,” 12 ICC Reports 943 (1907), 296-97.
46.Chronicle, 70:279, 291, 429; WSJ, June 8, 1900; Kennan interview with Stone, Apr. 29, 1915, AF.
47.Felton to Harriman, May 26,27,29, 1899, UPL; Chronicle, 69:26,129,384,541,645; WSJ, June 23, Aug. 14,17,30, Dec. 23, 1899, Jan. 31, 1900, May 21, 27, 1901; Schiff to Harriman, Aug. 8, 1899, UPL; Railroad Gazette, 31:649.
48.WSJ, May 25, July 19, Aug. 8, 1899, Mar. 26, Apr. 5, May 15,16,18, 29, 31, June 5, July 11, Aug. 10, 1900; Fish to J. T. Harahan, Nov. 10, 1899, IC; Fish to Harriman, Nov. 24, 1899, IC; Fish to Felton, Nov. 24, 1899, IC; 12 ICC Reports 943 (1907), 298-99; Chronicle, 69:1147, 70:686, 736, 894; Bonbright, Railroad Capitalization, 171-72. Both the ICC report and Bonbright cover these events in the wrong sequence. The total of $39 million of Railway stock was exchanged for the syndicate’s $18.3 million of Railroad stock, while the bonds were sold to pay for the syndicate’s $3.5 million of Railroad preferred and the Peoria line.
49.WSJ, May 12, 18, 29, 31, 1900; Chronicle, 70:944, 995; Kennan, Harriman, 2:235-37; Bonbright, Railroad Capitalization, 171.
50.Harriman, “Statement,” 9-10; Felton, “Chicago and Alton,” 43. Here, as elsewhere, all figures are rounded off for convenience.
51.WSJ, May 1,12,15,16,18,29,31, Aug. 30, 1900. The commission’s final report is in 12 ICC Reports 943 (1907), 295-306.
52.To give a specific example, the ICC, Ripley, and Bonbright all compare the Alton in 1898 with its position in 1906, just before Harriman’surrendered control. None of them try to look at the situation as it existed in 1900, when the syndicate reshaped its financial structure.
53.Adler, Schiff, 1:131.
54.Kennan notes of talk with Stone, Apr. 29, Nov. 23, 1915, AF.
55.See, for example, Robert N. Burnett, “Edward Henry Harriman,” Cosmopolitan, Mar. 1903, 593-96.
56.Figures based on data taken from Poor, Manual 1902,307, 1908, 33; Harriman, “Statement,” 10-11.
57.Felton, “Chicago and Alton,” 40-43.
58.Ibid.; Felton, “Kansas City, Pittsburgh & Gulf,” 46-47, 51-53.
59.Poor, Manual 1900,656, 1908,363; Harriman, “Statement,” 11. For the political fight, see Albro Martin, Enterprise Denied: Origins of the Decline of American Railroads, 1897-1917 (New York, 1971).
60.See, for example, Bonbright, Railroad Capitalization, 182-83, which ignores entirely the effect of inflation on the Alton’s decline.
61.There was in fact a controversy over whether the proper way to pay for betterments was to use earnings or capital funds. See, for example, WSJ, Aug. 31, 1900; Ripley, Railroads, 267-80; Edward S. Mead, Corporation Finance (New York, 1930), 270-79.
62.In addition to earlier citations, see, for example, WSJ, Oct. 24, Nov. 1, 17, 27, 1900, July 30, 1901, Aug. 20, Nov. 11, 1902; printed circulars, Oct. 24, 1900, AF. Bonbright, Railroad Capitalization, 183-84, argued that “the public notices of the transactions, though they may have conformed to the customary requirements, were wholly insufficient to protect investors against the deceptive appearances of the transactions.” This statement borders on the ludicrous. Leaving aside the obvious fact that investors are not obliged to invest in anything and that the burden of understanding the risks involved in whatever investments they choose is theirs, the fact remains that every Alton transaction was both fully reported and analyzed in detail by such organs as the Wall Street Journal and the Commercial and Financial Chronicle. Some of the transactions were complex but no more so than dozens of other issues. Bonbright’s argument is a classic case of imposing different standards born of hindsight and of imposing a generic demand on a situation in which he lacks sufficient knowledge of its specific context.
63.Barron to Kennan, May 24, 1915, AF; WSJ, Sept. 13, 1909.
64.Barron to Kennan, May 24, 1915, AF; WSJ, Sept. 13, 1909; Arthur Pound and Samuel Taylor Moore, eds., They Told Barron: Conversations and Revelations of an American Pepys in Wall Street (New York, 1930), 58-59.
1.George Kennan, E. H. Harriman, 2 vols. (New York, 1922), 1:185.
2.For Harriman’s version, see his preface in C. Hart Merriam, ed., Harriman Alaska Series (New York, 1901-14), 1:xxi-xxiii. This is the first of thirteen volumes on the expedition published at Harriman’s expense. Hereafter cited as HAE.
3.C. Hart Merriam, “Recollections and Impressions of E. H. Harriman,” 20, AF.
4.William H. Goetzmann and Kay Sloan, Looking Far North: The Harriman Expedition to Alaska, 1899 (Princeton, 1982), 6-7,14. This study is a good account of the expedition, but it contains some serious flaws. The authors know little about Harriman and even less about business history in general and railroads in particular. The result is chronological errors and sloppy generalizations compounded by a tone belonging to the old “Robber Baron” school of history: a peculiar mix of “gee whiz” and disdain. Although the authors note that Harriman’s career “stood at a turning point” in 1899 (p. 5), they proceed to describe him in the rest of the book as a tycoon of vast power who collected railroads as the scientists gathered specimens. They also wrongly tie Harriman’s motives to the round-the-world project, which was conceived several years later. As a final example, the authors repeatedly describe Harriman as a famous railroad leader, which he was not in 1899.
5.Alex Millar to T. M. Orr, Aug. 16, 1899, UPN.
6.Merriam, “Recollections,” 1.
7.Ibid., 2-3.
8.Ibid., 3; Goetzmann and Sloan, Looking Far North, 8-9; Harriman preface, HAE, 1:xxii.
9.The most convenient roster is in Goetzmann and Sloan, Looking Far North, 207-12, which is taken from HAE, 1:xxxiii-xxxvii. There are also lists in AF and UPN. The idea of having assistants for the scientists was apparently dropped.
10.Goetzmann and Sloan, Looking Far North, 9-14; HAE, 1:1; John Muir, “Tribute to the Memory of E. H. Harriman,” 4-5, AF. This is a draft version of Muir’s printed booklet and contains some detail omitted in the final version.
11.Memo for Burt, May 13, 1899, UPO; C. Hart Merriam journal, May 23, 1899, C. Hart Merriam Papers, Library of Congress. Those who imagine that trains got put together and moved with ease need only look at the sheath of telegrams in UPL relating to the creation and movement of this one special train to appreciate the work involved. Goetzmann and Kay, Looking Far North, 17, refer to “a luxurious train of‘palace cars’” as if it had special equipment instead of regular Pullman Palace cars. Nor do they understand what a “special” train is—i.e., one run apart from the regular schedule.
12.Harriman to Burt, May 30, 1899, UPN; Goetzmann and Sloan, Looking Far North, 17. The latter authors assert that Harriman named the car, but it was Pullman’s own name. See “Itinerary and Consist of Special Train Carrying the Harriman Alaskan Expedition,” June 2, 1899, UPN.
13.Harriman to Mrs. E. H. Harriman, May 18, 1899, AF; Goetzmann and Sloan, Looking Far North, 17. The same form letter went out to every member of the expedition.
14.Thomas H. Kearney, “Reminiscences of the Harriman Expedition,” 1, Waldo L. Schmitt Papers, Smithsonian Institution Archives. Kearney’s recollections were gathered in 1948. See Kearney to Schmitt, Sept. 14, 1948, ibid.
15.Merriam journal, May 24, 1899; Merriam, “Recollections,” 3-4; Lewis R. Morris, “A Successful Life, Edward Henry Harriman,” 2, AF. For the membership of committees, see Goetzmann and Sloan, Looking Far North, 210-12.
16.Bancroft to Harriman, May 24, 25, 1899, UPL; Harriman to Bancroft, May 25, 1899, UPL; HAE, 1:4-12; Merriam, “Recollections,” 5; Merriam, journal, May 27, 28, 1899; Goetzmann and Sloan, Looking Far North, 20, 22-24.
17.Merriam journal, May 29, 1899; Merriam, “Recollections,” 5; William H. Dall diary, May 29, 1899, Smithsonian Institution Archives; Railroad Gazette, 31:236,393; HAE, 1:14-16; Goetzmann and Sloan, Looking Far North, 24-26. The latter authors, unaware of the courtesies rail officers routinely extended to one another, have some silly stuff about the Northern Pacific special.
18.Muir, “Tribute,” 5.
19.HAE, 1:17-18; Merriam journal, May 31, 1899; Goetzmann and Sloan, Looking Far North, 3-4.
20.Omaha Bee, June 11, 1899; E. L. L. memorandum, June 2, 1899, UPN. The “E. L. L.” is probably E. L. Lomax.
21.Merriam, “Recollections,” 7; Goetzmann and Sloan, Looking Far Northy 112.
22.Merriam, “Recollections,” 7-8; Muir, “Tribute,” 6; E. Roland Harriman, I Reminisce (Garden City, N.Y., 1975), 4.
23.John Burroughs, My Boyhood (Garden City, N.Y., 1922), 220.
24.HAE, 1:17-26; Merriam journal, June 1-4, 1899; Dall diary, June 1-4, 1899; Linnie Marsh Wolfe, ed., John of the Mountains: The Unpublished Journals of John Muir (Boston, 1938), 380-82; Goetzmann and Sloan, Looking Far North, 38-42; Merriam, “Recollections,” 6.
25.HAE, 1:26-30; Merriam journal, June 6, 1899; Wolfe, ed., John of the Mountains, 382-83; Goetzmann and Sloan, Looking Far North, 48-53.
26.Goetzmann and Sloan, Looking Far North, 53.
27.Ibid., 55-61; HAE, 1:30-34.
28.Merriam journal, June 7, 1899; Dall dairy, June 7, 1899; Goetzmann and Sloan, Looking Far North, 61-64.
29.HAE, 1:32-33.
30.Ibid., 35-38; Goetzmann and Sloan, Looking Far North, 68-74.
31.HAE, 1:38-40; Wolfe, ed., John of the Mountains, 384-85; Goetzmann and Sloan, Looking Far North, 75-76; Merriam journal, June 9, 1899; Merriam, “Recollections,” 8-9.
32.Wolfe, ed., John of the Mountains, 384-85; Merriam journal, June 9, 1899.
33.Wolfe, ed., John of the Mountains, 385-86; Merriam journal, June 10,11, 1899; Goetz-mann and Sloan, Looking Far Northy 76-85.
34.Merriam journal, June 13, 1899; Wolfe, ed., John of the Mountains, 386-87; Merriam, “Recollections,” 9.
35.HAE, 1:48-52; Goetzmann and Sloan, Looking Far North, 86-92.
36.Merriam journal, June 14-17, 1899; Dali diary, June 14-17, 1899; Wolfe, ed., John of the Mountains, 387-88; Merriam, “Recollections,” 6-7.
37.Goetzmann and Sloan, Looking Far North, 92-94.
38.Ibid., 95-96; Merriam journal, June 18, 1899.
39.Goetzmann and Sloan, Looking Far North, 97-104; HAE, 1:52-63; Wolfe, ed., John of the Mountains, 390-91; Merriam journal, June 18, 1899; Dall diary, June 18, 1899.
40.HAE, 2:261; Merriam journal, June 23, 1899; Wolfe, ed., John of the Mountains, 390-91.
41.Goetzmann and Sloan, Looking Far North, 102; Merriam, “Recollections,” 11; Kearney, “Reminiscences,” 2.
42.HAE, 1:63-64.
43.Ibid., 63-71,74; Merriam journal, June 24, 1899; Wolfe, ed., John of the Mountains, 393- 94. For details on the canning industry, see HAE, 2:337-55.
44.HAE, 1:63-71; Wolfe, ed., John of the Mountains, 394-95; Merriam journal, June 25, 1899; Dall diary, June 25, 1899; Goetzmann and Sloan, Looking Far North, 108-15.
45.HAE, 1:70-74.
46.Merriam journal, June 26, 1899; Merriam, “Recollections,” 14; Wolfe, ed., John of the Mountains, 396; Muir, “Tribute,” 7.
47.Muir, “Tribute,” 6.
48.Ibid., 7-8; Merriam, “Recollections,” 15; Goetzmann and Sloan, Looking Far Northy 110-12.
49.Merriam, “Recollections,” 15; Goetzmann and Sloan, Looking Far North, 112; HAE, 1:73; Merriam journal, June 26, 1899.
50.HAE, 1:76; Merriam journal, June 27-30, 1899; Dall diary, June 27-30, 1899; Goetzmann and Sloan, Looking Far North, 114-17.
51.HAE, 1:70-86; Merriam journal, July 1, 2, 1899.
52.HAE, 1:xxvii, 85; Merriam journal, July 3, 1899; Goetzmann and Sloan, Looking Far North, 119-21.
53.Merriam journal, July 4, 1899; Dall diary, July 4, 1899; Wolfe, ed., John of the Mountains, 401-2; Goetzmann and Sloan, Looking Far North, 122-26.
54.Goetzmann and Sloan, Looking Far North, 126-36; HAE, 1:87-94,98; Merriam journal, July 7, 8, 1899.
55.HAE, 1:94-98; Merriam journal, July 9, 1899; Wolfe, ed., John of the Mountains, 406-7.
56.Merriam, “Recollections,” 16; HAE, 1:98-99; Merriam journal, July 9, 1899; Dall diary, July 9, 1899.
57.HAE, 1:99-102; Goetzmann and Sloan, Looking Far North, 137-41.
58.Wolfe, ed., John of the Mountains, 407-8; Merriam journal, July 11, 1899.
59.Wolfe, ed., John of the Mountains, 408-9; Merriam, “Recollections,” 12-13; Merriam journal, July 12, 1899; Dall diary, July 12, 1899.
60.HAE, 1:107-14; Merriam journal, July 13, 1899; Wolfe, ed., John of the Mountains, 409- 10; Goetzmann and Sloan, Looking Far North, 146-51.
61.Goetzmann and Sloan, Looking Far North, 136.
62.Wolfe, ed., John of the Mountains, 413. For a survey of the scientific results, see ibid., 193-206.
63.Goetzmann and Sloan, Looking Far North, 152.
64.Merriam journal, July 17-22, 1899; Dall diary, July 20-22, 1899.
65.Kearney, “Reminiscences,” 3.
66.Goetzmann and Sloan, Looking Far North, 161-70; HAE, 1:115-17; Merriam journal, July 26, 1899.
67.Merriam journal, July 26, 27, 1899. The temperature was in the mid-eighties.
68.Dall dairy, July 27, 1899; Merriam journal, July 27, 1899; Wolfe, ed., John of the Moun-tains, 420.
69.Interview with W. Averell Harriman, June 23, 1981; Burroughs to Albert Kendrick Fisher, Sept. 24, 1899, Albert Kendrick Fisher Papers, Library of Congress.
70.Merriam journal, July 30-Aug. 2, 1899. The movements of Harriman and the train can be tracked in the sheath of telegrams between July 31 and August 9, 1899, UPL.
71.New York Times, Aug. 16, 1899. For other examples of publicity, see New York Tribune, Aug. 14, 1899; Kansas City Journal, July 31, 1899; Denver Republican, July 31, 1899; Deseret Evening News, July 31, 1899; Seattle Post-Intelligencer, July 31, 1899; Omaha Bee, Aug. 8, 1899; Omaha World-Herald, Aug. 8, 1899.
1.Henry Morgenthau, All in a Life-Time (Garden City, N.Y., 1922), 73.
2.Ibid., 70.
3.Maury Klein and Harvey A. Kantor, Prisoners of Progress: American Industrial Cities, 1850-1920 (New York, 1976), xii.
4.These paragraphs are drawn from ibid., 44-51. For a more detailed account, see Alfred D. Chandler, Jr., The Visible Hand: The Managerial Revolution in American Business (Cambridge, Mass., 1977), 1-344.
5.Klein and Kantor, Prisoners of Progress, 51-52; Ralph L. Nelson, Merger Movements in American Industry; 1895-1956 (Princeton, 1959), 34,37.
6.Maury Klein, Union Pacific: The Rebirth, 1894-1969 (New York, 1990), 85.
7.New York Tribune, Jan. 6, 7, Mar. 24, Apr. 13, 1900; WSJ, Jan. 9, Mar. 23, 1901.
8.Klein, Union Pacific: Rebirth, 90-91.
9.WSJ, Jan. 10, 1901.
10.Ibid., Apr. 5, 1901.
11.For details see Chapter 10.
12.United States of America v. Union Pacific Railroad Company et al, U.S. Circuit Court for the District of Utah, docket no. 993, 4:1666-68; Harriman to A. F. Walker, June 5, 1900, AF; WSJ, Nov. 14-16, Dec. 5, 1899; New York Times, Mar. 2, Apr. 6, 1900; San Francisco Chronicle, Apr. 9, 1899, June 29, 1900.
13.Klein, Union Pacific: Rebirthy 93.
14.Ibid., 93-94.
15.WSJ, Jan. 9, 1900; Fish to Harriman, June 28, 1898, IC.
16.WSJ, Apr. 25, June 9, Aug. 8, Nov. 2,18, 1899.
17.Quoted by Kennan from Batson manuscript, AF.
18.Lamont to Hill, July 31, 1900, JJH.
19.Harriman’s movements can be tracked in the file of telegrams for this period in UPL. The telegrams inviting officers to the luncheon are also in UPL.
20.The file of telegrams inviting officers to the second luncheon is in UPL.
21.Harriman to Burt, Aug. 21, 1899, UPL; Perkins to Harris, Aug. 15, 1899, BA.
22.WSJ, Nov. 14,15, 20, 21, Dec. 5, 1899; Hill to Coster, Sept. 30, 1899, JJH.
1.WSJ, May 3, 1905.
2.New York Times, July 28, 1908; Carl Snyder, “Harriman: ‘Colossus of Roads,’” Review of Reviews 35 (Jan. 1907): 45.
3.W. L. Park, “Personal Recollections of Mr. Harriman in Connection with the Union Pacific,” 25, AF; Kennan notes, AF; Arthur Pound and Samuel Taylor Moore, They Told Barron: Conversations and Revelations of an American Pepys in Wall Street (New York, 1930), 136.
4.C. M. Keys, “Harriman,” World’s Work 13 (Jan. 1907): 8659; Frank A. Vanderlip, From Farm Boy to Financier (New York, 1935), 144; Edward J. Wheeler, ed., Index of Current Literature 42 (Jan.-June 1907): 154; Edwin Lefevre, “Harriman,” American Magazine 64 (June 1907): 125.
5.Wheeler, Index of Current Literature 42 (Jan.-June 1907): 154; Snyder, “Harriman,” 44; Fortune, May 8, 1978, 197; Edwin Wildman, “The Jekyll-Hyde Harriman,” Overland Monthly 51 (Mar. 1908): 3, 212; Samuel M. Felton, “The Genius of Edward H. Harriman,” American Magazine 99 (Apr. 1925): 9; E. Roland Harriman, I Reminisce (Garden City, N.Y., 1975), 9.
6.Richard C. Overton, Burlington Route: A History of the Burlington Lines (Lincoln, Neb., 1965), 248-50.
7.C. C. Tegethoff to Kennan, Jan. 30, 1919, AF; Schiff to Kennan, Apr. 18, 1919, AF; WSJ, May 17, 19, 1900; Kennan notes, AF. Kennan’s notes, taken from original documents, provide details on the pool.
8.United States of America v. Union Pacific Railroad Company et al., U.S. Circuit Court for the district of Utah, docket no. 993,10:4727-28, 4947-48,11:5058, 5062, hereafter cited as USA v. UP; WSJ, Aug. 15, 1900.
9.Overton, Burlington Route, 250.
10.USA v. UP, 11:4954; Robert G. Athearn, The Denver and Rio Grande Western Railroad (Lincoln, Neb., 1977), 191.
11.WSJ, Aug. 29, 1900.
12.Ibid., Feb. 1-3, 1901; USA v. UP, 3:1216-22,11:4948-52; New York Times, Feb. 2, 1901; Journal of Commerce and Commercial Bulletin, Feb. 2, 1901; UP Exec. Com. minutes, Feb. 5, 1901, UPL.
13.Maury Klein, Union Pacific: The Rebirth, 1894-1969 (New York, 1990), 89-90.
14.USA v. UP, 10:4713, 4737-38,11:4953-57; George Kennan, E. H. Harriman, 2 vols. (New York, 1922), 1:241.
15.Schiff to Hill, Feb. 4, 1901, JJH; Kennedy to Hill, Feb. 6, 1901, JJH.
16.Burton J. Hendrick, “The Passing of a Great Railroad Dynasty,” McClure’s Magazine 38 (Mar. 1912): 488.
17.Ibid., 484.
18.USA v. UP, 11:4954.
19.Ibid.; WSJ, Feb. 8,14, 1901; New York Times, Feb. 14, 1901; Railroad Gazette, 33:120, 292.
20.J. P. Morgan et al. to President and Board of Directors of the Chicago, Burlington & Quincy System, Jan. 19, 1901, BA; extract from Proceedings of Conference of Executive Officers of Western, Northwestern and Southwestern railroad companies, Dec. 5-7, 1900, BA.
21.Perkins to W. J. Palmer, Dec. 24, 1900, BA; Perkins to George B. Harris, Jan. 5, 1901, BA; WSJ, Mar. 23, 1901. For more detail, see Klein, Union Pacific: Rebirth, 92-93.
22.WSJ, Mar. 30, 1901; Journal of Commerce and Commercial Bulletin, Jan. 8, 1901.
23.Railroad Gazette, 33:96. For the steel merger, see Vincent P. Carosso, with Rose C. Carosso, The Morgans: Private International Bankers, 1854-1913 (Cambridge, Mass., 1987), 466-74.
24.Harriman to Hill, Jan. 24, Feb. 6, 7, 1901, JJH; Cyrus Adler, Jacob Schiff: His Life and Letters, 2 vols. (Garden City, N.Y., 1928), 1:90-91; Hill to Harriman, Jan. 29, Feb. 6, 1901, JJH; Hill to Robert Bacon, Feb. 7,9, Mar. 2, 1901, JJH.
25.Albro Martin, James J. Hill and the Opening of the Northwest (New York, 1976), 487-88; Klein, Union Pacific: Rebirth, 97.
26.WSJ, Nov. 1, 1900, Jan. 3, Jan. 9,15, 1901; Journal of Commerce and Commercial Bulletin, Dec. 15,19, 1900; Klein, Union Pacific: Rebirth, 98.
27.Hill to Perkins, Feb. 18, 1901, JJH; Perkins to Hill, Feb. 19, 1901, JJH; Hill to Morgan, Feb. 20, 1901, JJH; Overton, Burlington Route, 256-57.
28.Robert Bacon to Hill, Mar. 2, 1901, JJH; Adler, Schiff, 1:103. Hill was also denying any interest in the Burlington to the press. See WSJ, Mar. 20, 1901.
29.Hill to Schiff, Apr. 9, 1900 [1901], JJH; Hill to J. S. Kennedy, May 16, 1901, JJH; Martin, Hill, 496-98; Kennan, Harriman, 1:296-97.
30.WSJ, Mar. 30, Apr. 3, 1901; Overton, Burlington Route, 258; Batson fragment, 10, AF. Baker had also accompanied Hill to some of the meetings with Perkins.
31.Adler, Schiff, 1:103-4; Batson fragment, 10, AF; New York Times, May 13, 1901.
32.Adler, Schiff, 1:104-5.
33.St. Paul Globe, Dec. 22, 1901; Hill to Lord Mount Stephen, June 4, 1901, JJH; Herbert L. Satterlee, J. Pierpont Morgan: An Intimate Portrait (New York, 1939), 354.
34.Schiff to Hill, Apr. 8, 1901, JJH; Hill to Schiff, Apr. 9, 1900 [1901], JJH; WSJ, Apr. 13, 26, 1901; Perkins to Hill, Apr. 30, 1901, JJH.
1.B. H. Meyer, A History of the Northern Securities Case (Madison, Wisc., 1906), 232.
2.WSJ, Apr. 16-27, 1901; Journal of Commerce and Commercial Bulletin, Apr. 25, 1901; Batson fragment, AF. The Batson fragment quotes correspondence on the Northern Pacific transactions.
3.Albro Martin, James J. Hill and the Opening of the Northwest (New York, 1976), 498-500; Herbert L. Satterlee, J. Pierpont Morgan: An Intimate Portrait (New York, 1939), 350; Hill to Lord Mount Stephen, Apr. 26, 1901, JJH. Hill’s movements are confirmed in the Mary T. Hill diary, Apr. 15-27, 1901, JJH. I am grateful to W. Thomas White for providing me copies of the relevant entries.
4.Martin, Hill, 498-500; Hill to Lord Mount Stephen, Apr. 26, 1901, JJH; WSJ, Apr. 27, 1901; G. B. Schley to Hill, Apr. 27, 1901, JJH. Martin has Hill arriving in New York on April 29 but then going to meet Schiff the same day. Schiff wrote Morgan less than two weeks after the .meeting, stating explicitly that he saw Hill on the morning of May 3. See Cyrus Adler, Jacob Schiff: His Life and Letters, 2 vols. (Garden City, N.Y., 1928), 1:106.
5.New York Times, Apr. 30, May 1, 1901; WSJ, Apr. 30, 1901; New York Heraldy Apr. 30, 1901; New York World, May 5, 1901; Mary T. Hill to Clara and Rachel Hill, Apr. 29, 1901, JJH; C. W. Woolford to Hill, Apr. 30, 1901, JJH; Hill to Gaspard Farrer, Apr. 30, 1901, JJH; Mary T. Hill diary, May 2, 1901, JJH.
6.WSJ, Apr. 30, 1901; New York Tribune, Apr. 30, 1901; New York Sun, Apr. 30, 1901; New York World, Apr. 30, 1901; New York Herald, Apr. 30, 1901; Perkins to Hill, Apr. 30, 1901, JJH.
7.WSJ, Apr. 24-May 4, 1901; Chronicle, 72:874, 937; New York Tribune, Apr. 26, 1901; New York Sun, Apr. 30, May 1, 1901; New York Heraldy Apr. 30, May 1, 1901; New York Times, May 1, 1901; New York World, May 1, 1901.
8.New York Herald, May 2, 1901; New York Times, May 2, 1901; New York World, May 1, 2, 1901; New York Sun, May 2, 1901; WSJ, May 2, 1901; Journal of Commerce and Commercial Bulletin, May 2, 1901.
9.UP Exec. Com. minutes, May 2, 1901, UPL; New York Herald, May 3, 1901; New York Times, May 3, 1901; New York World, May 3, 1901; New York Sun, May 3, 1901; WSJ, May 3, 1901; New York Tribune, May 3, 1901.
10.New York Herald, May 4, 1901; New York Times, May 4, 1901; New York Sun, May 4, 1901; WSJ, May 4, 1901; New York Tribune, May 4, 1901; Chronicle, 72:874.
11.Adler, Schiff, 1:106. Two weeks later, both Schiff and Hill wrote private letters of explanation that are utterly irreconcilable. The two versions are Schiff’s letter to Morgan dated May 16, 1901, in Adler, Schiff, 1:102-7, and Hill to John S. Kennedy, May 16, 1901, JJH. Hill elaborated twice on his version in letters to Lord Mount Stephen, June 4, 1901, July 22, 1904, both JJH.
12.Satterlee, Morgan, 354; Martin, Hill, 502. Hill’s version is pieced together from Hill to John S. Kennedy, May 16, 1901, JJH; Hill to Lord Mount Stephen, June 4, 1901, July 22, 1904, JJH.
13.Hill to Lord Mount Stephen, June 4, 1901, JJH.
14.Batson fragment, AF. This story is taken from a direct quotation. Batson claims Harriman gave him this account but does not say when. George Kennan reprinted it in E. H. Harriman, 2 vols. (New York, 1922), 1:305-6.
15.Charles E. Perkins maintained that Harriman’s “truculence” over the episode “reflected his great mortification at having overlooked the point.” See Martin, Hill, 648. While this response fits Harriman’s personality, it ignores one basic fact: if Harriman was not aware of the problem, why did he attempt to buy more common stock?
16.Adler, Schiff, 1:106; Frieda Schiff Warburg, Reminiscences of a Long Life (New York, 1956), 62; Batson fragment, AF.
17.Satterlee, Morgan, 355-56.
18.See, for example, Crawford Livingston to Hill, May 6, 1901, JJH.
19.Bernard M. Baruch, My Own Story (New York, 1957), 126-27.
20.New York Herald, May 5, 1901; New York Tribune, May 5, 1901.
21.New York Herald, May 5, 1901.
22.For a sketch of Keene see Baruch, My Own Story, 135-43.
23.New York Times, May 7, 1901; WSJ, May 7, 1901; New York Herald, May 7, 1901; New York Sun, May 7, 1901; Baruch, My Own Story, 128.
24.Batson fragment, AF; Kennan to Mary Harriman, Jan. 15, 1920, AF.
25.Batson fragment, AF.
26.Ibid.; New York Times, May 7, 8, 1901; WSJ, May 8, 1901; Journal of Commerce and Commercial Bulletin, May 8, 1901; New York Tribune, May 8, 1901; New York World, May 8, 1901; New York Herald, May 8, 1901; UP Directors minutes, May 8, 1901, UPL.
27.WSJ, May 9, 1901, New York Times, May 9, 1901; Journal of Commerce and Commercial Bulletin, May 9, 1901; New York Tribune, May 9, 1901; New York Herald, May 9, 1901; New York World, May 9, 1901; New York Sun, May 9, 1901.
28.Baruch, My Own Story, 136-37.
29.New York Sun, May 9, 1901; New York Herald, May 9, 1901; Kennan notes, AF.
30.New York Times, May 10, 1901; WSJ, May 10, 1901; New York Herald, May 10, 1901; New York World, May 10, 1901; New York Tribune, May 10, 1901; New York Sun, May 10, 1901.
31.New York Herald, May 10, 1901.
32.WSJ, May 10-13, 1901; New York Tribune, May 10-12, 1901; New York Times, May 10-13, 1901; New York Herald, May 10-12, 1901; New York World, May 10-12, 1901; New York Sun, May 10-13, 1901.
33.Batson fragment, AF; WSJ, May 9, 1901.
34.New York Sun, May 10, 1901.
35.Adler, Schiff, 1:102-7.
36.Ibid., 107-8.
37.Maury Klein, Union Pacific: The Rebirth, 1894-1969 (New York, 1990), 107; Martin, Hill, 506. See also the figures in Vincent P. Carosso, with Rose C. Carosso, The Morgans: Private International Bankers, 1854-1913 (Cambridge, Mass., 1987), 477.
38.Meyer, History of the Northern Securities Case, 234; Batson fragment, AF; W. D. Travers(?) to Hill, May 30, 1901, JJH.
39.UP Exec. Com. minutes, May 10, 1901, UPL; Hill to Harriman, May 19, 1901, JJH; E. T. Nichols to Hill, May 23, 1901, JJH; Hill to Bacon, May 23, 1901, JJH; Hill to Hughitt, May 22, 1901, JJH; WSJ, May 14-17, 1901; Journal of Commerce and Commercial Bulletin, May 15, 1901; New York Tribune, May 15, 1901.
40.Hill to Hughitt, May 22, 1901, JJH; Bacon to Hill, May 23, 1901, JJH. Hill’s plan is outlined in Hill to Lord Mount Stephen, May 25, 1901, JJH.
41.Memorandum of understanding, May 31, 1901, JJH. Details on the integration plan are in the memo and summarized in Klein, Union Pacific: Rebirth, 107-8.
42.Harriman to Burt, June 10, 1901, UPL; Hill to Bacon, June 12, 1901, JJH; Klein, Union Pacific: Rebirth, 108.
43.Hill to Bacon, June 12, July 19, 1901, JJH; Hill to Schiff, July 19, 1901, JJH; Hill to Harriman, July 19, 1901, JJH; Schiff to Hill, July 22, 1901, JJH; Railroad Gazette, 33:535.
44.Hill to Mount Stephen, May 25, July 22, 1901, JJH; Hill to Edward Tuck, June 13, Aug. 14, 1899, JJH; Hill to Lord Strathcona, Aug. 13, 1901, JJH; Hill to Bacon, Sept. 2, 1901, JJH; UP Directors minutes, Sept. 4,24, 1901, UPL; J. S. Kennedy to Hill, July 22, Sept. 6, 1901, JJH; Hill to Lefevre, Sept. 6, 1901, JJH; WSJ, Aug. 21, 1901; Hill to Gaspard Farrer, Aug. 31, 1901, JJH. The directors included Hill, Harriman, William Rockefeller, banker Harrison M. Twombley (a Vanderbilt man), and Samuel Rea of the Pennsylvania Railroad.
45.Schiff to Harriman, Sept. 11, 1901, AF; Kennedy to Hill, Sept. 6, 1901, JJH; Martin, Hill, 506; Harriman to Schiff, Oct. 16, 1901, AF; WSJ, Oct. 30, 1901; Klein, Union Pacific: Rebirth, 109.
46.Schiff to Harriman, Sept. 11, 1901, AF. It is not clear what “financial measures” Schiff refers to.
47.WSJ, Nov. 4,15, 1901; Adler, Schiff, 1:110; Klein, Union Pacific: Rebirth, 109.
48.WSJ, Nov. 15, 1901; Chronicle, 73:1062; Railroad Gazette, 33:815-16. Details on the new company are in Meyer, History of the Northern Securities Case, 225-41.
49.WSJ, Nov. 8-11,14,15, 22, 23, Dec. 2, 1901; Chronicle, 73:1062; New York Times, Nov. 16, 1901; Chicago Chronicle, Dec. 17, 1901; W. P. Clough to Hill, Dec. 26, 1901, JJH.
50.New York Times, Nov. 18-23,29, 1901; WSJ, Nov. 21,26, Dec. 2, Dec. 4,9, 1901; Chronicle, 73:1112, 1264,1314; Meyer, History of the Northern Securities Case, 242-44.
51.WSJ, Dec. 4, 5, 7, 9,19, 1901; Clough to Hill, Jan. 8, 1902, JJH; Chronicle, 73:1264; Martin A. Knapp to Horace G. Burt, Dec. 28, 1901, UPL; Burt to Harriman, Dec. 31, 1901, UPL; Harriman to Burt, Dec. 31, 1901, UPL; New York Times, Dec. 31, 1901.
1.New York World, May 12, 1901.
2.Draft charter, Oct. 23, 1901, SF; Harriman to Stillman, Mar. 31, Apr. 1, 1898, JS; Harriman to Fish, Sept. 24, [1900], SF; Railroad Securities Co. circular, Oct. 6, 1901, SF; Journal of Commerce and Commercial Bulletin, Feb. 16, 1901; WSJ, Feb. 16, 20, 1901.
3.WSJ, Feb. 2, 11, 12,26, Apr. 2, 20, July 26, 1901; Schiff to Harriman, Sept. 11, 1901, AF.
4.Schiff to Harriman, Sept. 11, 1901, AF.
5.United States of America v. Union Pacific Railroad Company et al, U.S. Circuit Court for the district of Utah, docket no. 993,10:4720, 4758; hereafter cited as USA v. UP.
6.Ibid., 2:113; “History of Corporations whose Property is Now Owned or Operated by San Pedro, Los Angeles & Salt Lake Railroad Company,” JA, 2.
7.Maury Klein, Union Pacific: The Rebirth, 1894-1969 (New York, 1990), 113.
8.“Report on the Los Angeles Terminal Railway,” Apr. 29, 1899,1, SMF.
9.Ibid., 1-3; Klein, Union Pacific: Rebirth, 114.
10.French Strother, “Swinging the March of Empire Southward,” World’s Work 11 (Jan. 1906): 7073-74.
11.Ibid.; Bancroft to Harriman, May 25, 1899, UPL.
12.This portrait of Clark is drawn largely from Michael P. Malone, The Battle for Butte: Mining and Politics on the Northern Frontier, 1864-1906 (Seattle, 1981), 12-15, and DAB, 4:144-46.
13.Malone, Battle for Butte, 82-83.
14.New York World, Apr. 26,27, May 13, 1900; DAB, 4:145.
15.New York World, Feb. 25, 1900; New York Tribune, Mar. 16, Apr. 11,18, 24, May 16-19, 1900; Malone, Battle for Butte, 80-130.
16.Malone, Battle for Butte, 199; New York Tribune, Mar. 16, 1900.
17.WSJ, Aug. 29, Oct. 6, 29, 1900; New York Times, Oct. 1, Nov. 23, 1900; Klein, Union Pacific: Rebirth, 115.
18.USA v. UP, 10:4790-4800; WSJ, Jan. 4, 1901; Chronicle, 72:184, 581; Railroad Gazette, 33:152, 229-30.
19.Salt Lake Tribune, Apr. 5, 1901; Denver Post, Apr. 8, 1901; Bancroft circular, Apr. 9, 1901, UPL; Chronicle, 72:723.
20.Klein, Union Pacific: Rebirth, 116; Salt Lake Tribune, Apr. 25-27, June 30, July 4, 5, 1901; Railroad Gazette, 33:286; WSJ, Apr. 30, June 12, 27, July 8, 1901; Deseret Evening News, June 21, 1901; Salt Lake Herald, June 28,30, July 26, 1901.
21.Deseret Evening News, July 23, 30, 1901; Salt Lake Tribune, July 27, 30, 31, Aug. 10, 1901; Salt Lake Herald, July 31, Aug. 3, 1901; Chronicle, 73:237; New York Commercial, July 12, 1901; Railroad Gazette, 33:637, 640-41,679-80.
22.WSJ, Aug. 8, 15, 28, Oct. 17, 1901, Jan. 18, Mar. 3, Apr. 8, 29, May 27, 1902; Burt to Harriman, Sept. 15, 1901, UPL; Cornish to P. L. Williams, Oct. 5, Nov. 1, 1901, JA; Ashton to Bancroft, Jan. 3, 20, 1902, JA; Railroad Gazette, 33:900, 34:68; Bancroft to Cornish, Dec. 10, 1901, Jan. 20, 1902, JA.
23.Cornish to Williams, Feb. 5, 1902, JA; Williams to Ashton, Apr. 16, 1902, JA; T. E. Gibbon to Bancroft, May 6, 1902, JA; Bancroft to Harriman, May 21, 1902, JA; Harriman to Bancroft, May 21, 1902, JA; Bancroft to Cornish, May 30, June 3, 1902, JA; Ashton to Bancroft, July 28, 1902, JA; Cornish to Bancroft, Aug. 13, 1902, JA. The text of the entire agreement is in USA v. UP, 1:87-108.
24.Chronicle, 75:907, 76:920, 1193; WSJ, Dec. 13, 1902, Apr. 30, 1903; Perkins to Hill, Jan. 2, 1903, JJH; Hill to Perkins, Jan. 8, 1903, JJH; memorandum, Jan. 18, 1903, JA; New York Times, Apr. 20, 1903; Railroad Gazette, 34:316.
25.Bancroft to Cornish, May 11, 1903, JA; W. R. Kelly to P. L. Williams, July 24, 1903, JA.
26.Cornish to Bancroft, June 8, 1903, JA; WSJ, Oct. 24, 1904.
27.WSJ, Jan. 22, 1901.
28.Klein, Union Pacific: Rebirth, 112.
29.John L. Cowan, “Freeing a City from a Railroad’s Control,” World's Work 9 (1905): 5713- 16; New York Times, Feb. 26, May 2,25, 1901; Joseph Frazier Wall, Andrew Carnegie (New York, 1970), 779-80.
30.W. L. Burton, “History of the Missouri Pacific,” 769-70, unpublished manuscript, copy in author’s possession; New York Times, Apr. 6, May 5, 7, 1902; WSJ, Apr. 9, 29, 30, May 12,13,16, 23, 24, July 2, 1902; Chronicle, 74:938,989, 1091,75:31,79.
31.Journal of Commerce and Commercial Bulletin, Oct. 18,19, 1900; Fish to Horace Burt, Oct. 19, 1900, UPL; WSJ, Oct. 25, 1900.
32.WSJ Dec. 12, 20, 1900, Apr. 12,19, 23, 25, 26, June 22, July 16, Aug. 22, Dec. 24, 1901, Jan. 13, Feb. 5, Mar. 8, 22, April 10,19, May 19, 22, June 11,19, 25, 28, July 3, 9,17, 21, 25, Aug. 2,19-22, Sept. 3, 6,12, 23, Oct. 6, Nov. 25, 1902; Lloyd Wendt and Herman Kogan, Bet A Million! The Story of John W. Gates (Indianapolis, 1948), 247-49.
33.WSJ, Nov. 14, 20, 25, 1902; St. Louis Globe-emocrat, Aug. 28, 1902; Denver Republican, Nov. 13, 1902; New York Commercial, Aug. 13, 1902.
34.Denver Post, Feb. 6, 1903; WSJ, Nov. 25, Dec. 3-5, 8,11, 1902, Mar. 7, 1903; Chronicle, 76:655; G. H. Kneiss, “History of the Western Pacific Railroad,” Western Pacific Mile-postsy Spring-Fall 1978, H3-8.
35.USA v. UP, 2:525,3:1133-34; statement by Hugh Neill, Nov. 28, 1911,3, AF.
36.USA v. UP, 3:1134-36.
37.Interstate Commerce Commission, “In the Matter of Consolidations and Combinations of Carriers Subject to the Act to Regulate Commerce, Including the Method of Association Known as the ‘Community of Interest Plan,’” (Washington, D.C., 1902). This hearing was prompted by the Northern Pacific panic and the formation of Northern Securities. Only six witnesses were called: Harriman, Hill, Mellen, Stubbs, Miller, and George Harris of the Burlington.
38.Maury Klein, The Life and Legend of Jay Gould (Baltimore, 1986), 437.
39.Klein, Union Pacific: Rebirth, 112-13.
1.George Kennan, E. H. Harriman, 2 vols. (New York, 1922), 1:278.
2.Maury Klein, Union Pacific: The Rebirth, 1894-1969 (New York, 1990), 122. For the condition of the Southern Pacific, see WSJ, Feb. 12, Aug. 29, 1901.
3.Harriman to Burt, Nov. 15, 1901, UPL; Burt to Harriman, Nov. 15, 1901, UPL; Burt to Kruttschnitt, Nov. 15,16, 1901, UPL; Kruttschnitt to Burt, Nov. 15, 1901, UPL; Hood to Kennan, June 21, 1922, with accompanying memorandum, GK; Kennan, Harriman, 1:244-45.
4.Kennan, Harriman, 1:244.
5.Klein, Union Pacific: Rebirth, 2:124; Kruttschnitt to Batson, Apr. 11, 1911, AF.
6.Kennan, Harriman, 1:250; Hood memorandum, June 21, 1922, GK.
7.Railroad Gazette, 37:566,42:328-31,43:729,44:176-77.
8.For a good summary of the project, see Oscar King Davis, “The Lucin Cut-Off,” Century 71 (Jan. 1906): 459-68. See also Herbert I. Bennett, “Building across Great Salt Lake,” Scientific American Supplement 57, no. 1481 (May 21, 1904): 23726-27.
9.Hood memorandum, June 21, 1922, GK; Klein, Union Pacific: Rebirth, 125; WSJ, Nov. 17, 1899, Apr. 16, Sept. 28, 1901; Salt Lake Herald, June 28, 1900; Railroad Gazette, 32:488, 502, 532, 33:358, 712; Kruttschnitt to Burt, Feb. 1, 2, 3, 1902, UPL; Millar to Burt, Feb. 3, 1902, UPL; Burt to Kruttschnitt, Feb. 3, 1902, UPL; Harriman to Burt, Feb. 3, 1902, UPL; Burt to Harriman, Feb. 3, 1902, UPL; Hood to W. H. Bancroft, Feb. 27, 1905, JA; Hood to Kruttschnitt, Jan. 13, 1902, UPL; Kruttschnitt to Harriman, Jan. 27, 1902, UPL; New York Times, Jan. 28, 1902.
10.Klein, Union Pacific: Rebirth, 127; Davis, “Lucin Cut-Off,” 463.
11.Hood memorandum, June 22, 1901, GK; Davis, “Lucin Cut-Off,” 463-65; Bennett, “Railroading across Great Salt Lake,” 23727; Hood to Kruttschnitt, Jan. 13, 1902, UPL.
12.Davis, “Lucin Cut-Off,” 465; Kansas City Journal, Aug. 17, 1903.
13.Davis, “Lucin Cut-Off,” 465-66; W. D. Cornish to Bancroft, Mar. 19, 29, 1904, JA; Bancroft to Cornish, Mar. 21, 1904, JA.
14.Davis, “Lucin Cut-Off,” 465-66; Klein, Union Pacific: Rebirth, 127.
15.Davis, “Lucin Cut-Off,” 467.
16.Ibid.
17.Millar to Bancroft, Nov. 17, 20, 1903, JA; Bancroft to Kruttschnitt, Nov. 20, 21, 23, 25, 1903, JA; Kruttschnitt to Bancroft, Nov. 20, 21, 1903, JA; Burt to Bancroft, Nov. 25, 1903, JA; Bancroft to Burt, Nov. 25, 1903, JA; Railroad Gazette, 35:878.
18.Klein, Union Pacific: Rebirth, 128; W. R. Scott to Bancroft, Apr. 18/19, 20, 21, 1904, JA; Kruttschnitt to Bancroft, Dec. 30, 1903, Aug. 9, 1904, JA; Bancroft to Kruttschnitt, Dec. 31, 1903, Aug. 9, 1904, JA; D. S. Spencer to Bancroft, Dec. 31, 1903, JA; Railroad Gazette, 36:54; Hood to Bancroft, Apr. 4, Aug. 8, 9, 11, 1904, JA; Bancroft to Hood, Aug. 8, 1904, JA.
19.Hood to Bancroft, Aug. 22, Sept. 2, 6, 1904, JA; E. Buckingham to Bancroft, Aug. 29, Sept. 2, 1904, JA; Kruttschnitt to Bancroft, Sept. 6, 1904, JA; Bancroft to Buckingham, Sept. 3, 6, 1904, JA; Bancroft to Kruttschnitt, Sept. 6, 1904; W. E. Marsh to Hood, Sept. 11, 1904, JA.
20.Hood to Bancroft, Sept. 15, 1904, JA; Hood to W. E. Marsh, Sept. 15, Dec. 29, 1904, JA; Bancroft to Hood, Sept. 18, Oct. 11, Dec. 29, 1904, JA; Hood to Kruttschnitt, Oct. 4, 1904, JA; Bancroft to E. Buckingham, Jan. 2, 1905, JA; Buckingham to Bancroft, Jan. 13, 1905, JA; Bancroft to E. E. Calvin, Sept. 26, 1905, JA.
21.Davis, “Lucin Cut-Off,” 468.
22.Bennett, “Railroading across Great Salt Lake,” 23726; Railroad Gazette, 42:691.
23.Omaha Bee, Nov. 28, 1903.
24.Kruttschnitt to Batson, Apr. 11, 1911, AF; Klein, Union Pacific: Rebirth, 124; Railroad Gazette, 34:14, 766, 35:585, 37:318, 40:223-25, 298, 41:48, 51,194-95, 42:516, 43:40, 75, 573, 669,783,44:234,45:661-62; WSJ, Apr. 19, 1902, Dec. 19, 1903, Nov. 21, 1904, Oct. 17, 1905; Chronicle, 74:1197-98.
25.Chronicley 74:1197-98; Railroad Gazette, 41:502-4, 43:249, 340; Scientific Americany 97:254.
26.New York Times, May 27, 1906; WSJ, Apr. 6, May 6, 1905; Klein, Union Pacific: Rebirth, 296-97.
27.Railroad Gazette 40:609, 652-53, 41:437-38, 42:761-62, 43:199-200, 242; WSJ, Nov. 27, 1906.
28.Kruttschnitt to Batson, Apr. 11, 1911, AF; Railroad Gazette, 33:408, 422, 764, 38:151, 216, 39:63,72,135,159-60,40:161-62,41:58,42:322,760,43:228,765,45:47,555,982, 1610; WSJ, Mar. 28, 1902, May 4, Nov. 22, 1907; SP Exec. Com. minutes, June 5, 1902, Oct. 29, 1903, Feb. 11, June 16, Nov. 23, 1904, Aug. 31, 1905, Oct. 25, 1906, UPL; Don L. Hofsommer, The Southern Pacific, 1901-1985 (College Station, Tex., 1986), 42-46.
29.Keith L. Bryant Jr., A History of the Atchison, Topeka and Santa Fe Railway (New York, 1974), 80-82,170; Hofsommer, Southern Pacific, 45; Railroad Gazette, 46:9, Fish to J. T. Harahan, Apr. 11, 1899, IC; Harriman to Fish, Nov. 1, 1899, IC; Fish to Harriman, Nov. 1, 1899, IC; WSJ, Dec. 6, 1899.
30.Kennan notes from Harriman material, AF; Fish to Harahan, Feb. 10, 12, 1902, IC; Joseph Stanley-Brown to Fish, Feb. 20, 1902, IC; WSJ, Feb. 12, Mar. 18, 27, 1902; Harriman to Limantour (?), Oct. 29, 1902, AF; Alexander Millar, Edward H. Harriman and the Union Pacific Railroad (New York, 1910), 11. A description of the new lines is in Railroad Gazette, 46:8-11.
31.Railroad Gazette, 38:175,39:144,40:29,41:6,31-32,69-70,130,42:195-96,458,43:215-16; WSJ, Oct. 22, 1907.
32.WSJ, Nov. 20, 1907, Jan. 23, May 5, 1908, Feb. 18, Mar. 24, June 7, 1909; Railroad Gazette, 44:169,430,591,45:694, 1664; New York Times, June 12,13, 1909.
33.All figures computed from data in U.S. Bureau of the Census, Historical Statistics of the United States from Colonial Times to 1970 (Washington, D.C., 1975), 2:740. See also Klein, Union Pacific: Rebirth, 130.
34.Railroad Gazette, 43:2-3.
35.Ibid., 42:720; Kruttschnitt to Batson, Apr. 11, 1911, AF; United States of America v. Union Pacific Railroad Company et al., U.S. Circuit Court for the district of Utah, docket no. 993, 9:4108-13, 4134.
36.WSJ, Mar. 21, 1907.
37.Klein, Union Pacific: Rebirth, 130-31; Edward Dickinson to Burt, June 7, 1900, UPL.
38.Interview with W. A. Harriman, June 23, 1981; Fortune, May 8, 1978,197.
39.Burt to Harriman, Nov. 23, Dec. 18,19, 1901, Jan. 8, Feb. 6, Mar. 20, July 2, 1902, Jan. 24, Mar. 16, 1903, UPL; Harriman to Burt, Dec. 18,19, 1901, Jan. 8, Feb. 6, 1902, Jan. 24, 1903, UPL; W. L. Park to E. Buckingham, Feb. 2, 1902, UPL; Railroad Gazette, 46:984.
40.Railroad Gazette, 45:2-3; Klein, Union Pacific: Rebirth, 131-32.
41.Klein, Union Pacific: Rebirth, 131-32; Frank H. Spearman, “Building Up a Great Railway System,” Outlook 91 (Feb. 1909): 447.
42.Railroad Gazette, 54:400, 55:708.
43.Bancroft to Mary Harriman, Nov. 17, 1911, AF; WSJ, Nov. 27, 1906; C. M. Keys, “Harriman,” World's Work 13 (Jan. 1907): 8552.
44.Edward Livingston Trudeau, An Autobiography (Garden City, N.Y., 1916), 94, 276-77.
45.William Mahl, “Memoirs, 1860-1910,” 26-28, William Mahl Papers, University of Texas Library.
46.W. L. Park, “Personal Recollections of Mr. Harriman in Connection with the Union Pacific,” 23-24, AF.
47.Klein, Union Pacific: Rebirth, 140. The earlier pension plans belonged to the Grand Trunk (1874), Baltimore & Ohio (1884), Pennsylvania (1900), and Chicago & Northwestern (1901).
48.Ibid., 139-40; Railroad Gazette, 48:1419.
49.For details on how the bureau operated, see Railroad Gazette, 48:1419-22.
50.J. B. Berry, “Notes on J. B. Berry’s Association with Mr. E. H. Harriman,” June 21, 1911, 8-9,16, AF; WSJ, Aug. 18, 1903, Jan. 8, Sept. 10, Nov. 9,12, 1906.
51.Klein, Union Pacific: Rebirth, 140; WSJ, Mar. 21, Apr. 17, Oct. 2, 1907.
52.Klein, Union Pacific: Rebirth, 140-41.
53.Ibid.; New York Times, Jan. 7,31, 1903.
54.Klein, Union Pacific: Rebirth, 141.
55.Railroad Gazette, 47:306.
1.H. M. Carson and R. N. Durborow to W. W. Atterbury, Dec. 2, 1908, Pennsylvania Railroad collection, Hagley Library, Wilmington, Delaware.
2.Alexander Millar, Edward H. Harriman and the Union Pacific Railroad (New York, 1910), 12.
3.Edwin Lefevre, “Harriman,” American Magazine 64 (June 1907): 127.
4.Fish to Thomas Lloyd, June 28, 1901, IC; Maury Klein, Union Pacific: The Rebirth, 1894- 1969 (New York, 1990), 132-33.
5.These changes are best followed by looking at the list of officers in the company annual reports for 1901-9. Originally there was a seventh department, construction and maintenance, but it was merged with operating.
6.Harriman to Burt, Oct. 25, 1901, UPL; WSJ, Nov. 2, 1901; William Mahl, “Memoirs, 1860-1910,” 38, William Mahl Papers, University of Texas Library.
7.Klein, Union Pacific: Rebirth, 133-34.
8.Frank A. Vanderlip, From Farm Boy to Financier (New York, 1935), 202-3; Mahl, “Memoirs,” 40.
9.Vanderlip, From Farm Boy to Financier, 203; Mahl, “Memoirs,” 4,44,49.
10.New York Times, May 25, July 19, 1901; Schiff to Harriman, July 28, 1901, AF; San Francisco Chronicle, Aug. 17, 1901; Los Angeles Times, Aug. 18, 1901; Omaha Bee, Aug. 21, 1901; WSJ, Aug. 19,20,24, 1901.
11.Schiff to Harriman, Sept. 11, 1901, AF; WSJ, Sept. 30, 1901.
12.Schiff to Harriman, Nov. 10, 1901, AF.
13.Klein, Union Pacific: Rebirth, 135.
14.W. L. Park, “Personal Recollections of Mr. Harriman in connection with the Union Pacific,” 25-27,33, AF.
15.Ibid.; Klein, Union Pacific: Rebirth, 136.
16.For more detail on the department versus division issue, see Ray Morris, Railroad Administration (New York, 1920), 46-89, and Alfred D. Chandler Jr., The Visible Hand: The Managerial Revolution in American Business (Cambridge, Mass., 1977), 176-85. Morris includes details on the Harriman’system.
17.Carson and Durborow to Atterbury, Dec. 2, 1908, 1-5 and attached organizational chart. The chief engineer handled construction, maintenance, and certain facilities; the superintendent of motive power took care of shops and all matters relating to equipment, tools, and power plants.
18.Ibid., 2; Frank H. Spearman, “Building Up a Great Railway System,” Outlook 91 (Feb. 1909): 441; Klein, Union Pacific: Rebirth, 138-39; Don L. Hofsommer, Southern Pacific, 1901-1985 (College Station, Tex., 1986), 27-30.
19.Klein, Union Pacific: Rebirth, 139.
20.Ibid., 137.
21.United States of America v. Union Pacific Railroad Company et al. , U.S. Circuit Court for the district of Utah, docket no. 993, 11:5043-47, hereafter USA v. UP; Carson and Durborow to Atterbury, Dec. 2, 1908,12-17. The average expenditures per mile of road for western systems during 1900-1909 were as follows: Union Pacific, $2,329; Southern Pacific, $2,807; Northern Pacific, $2,203; Atchison, Topeka & Santa Fe, $2,305; Great Northern, $1,804; Denver & Rio Grande, $1,799; Canadian Pacific, $1,518.
22.William Mahl to Burt, Jan. 16, 1903, UPL; Lefevre, “Harriman,” 129-30.
23.Klein, Union Pacific: Rebirthy 153; Chronicle, 79:1674-76. All figures are compiled from company annual reports and Railroad Gazette, 35:869-70. To make the figures comparable, the 1898 earnings include the Navigation and Short Line roads even though the system had not yet been reunited.
24.WSJ, May 7, 1902, Dec. 9, 1903, July 21, 27, 1905, Jan. 8, 1906.
25.Ibid., May 30, 1902; Southern Pacific income account statement, July 16, 1912, FAV; Thomas Warner Mitchell, “The Growth of the Union Pacific and Its Financial Operations,” Quarterly Journal of Economics 21 (Aug. 1907): 587.
26.Excerpt from Harriman affidavit, Mar. 27, 1903, AF; Talbot J. Taylor & Co., “Southern Pacific Company,” AF; WSJ, Aug. 24, 1902. The excerpt appeared in New York Times and WSJ, Apr. 2, 1903.
27.WSJ, Apr. 2, 1903.
28.WSJ, Aug. 29, 1902, Mar. 7, Mar. 10-14,16,19, 20, 1903; Chronicle, 76:28,78:27; New York Times, Mar. 10-14,18,19, 1903.
29.New York Times, Mar. 15, 23, 24, Apr. 2-4, 7,10, 1903; WSJy Mar. 24,26, Apr. 1-4, 8, 9,13, 1903; Railroad Gazette, 40:76; New York News Bureau, Apr. 1, 1903.
30.WSJ, Apr. 6, 1903.
31.Ibid., Apr. 7, 1903; Oregon Short Line Directors minutes, Nov. 12, 1903, UPL; USA v. UP, 2:750-55. Rockefeller sold the shares back to the Oregon Short Line (through which the Union Pacific controlled them) in November after the legal battle had been won.
32.Railroad Gazette, 36:129-30, 41:46; WSJy July 31, 1904, July 26, 1905, Aug. 4, 1906.
33.Railroad Gazette, 41:568; WSJ, Aug. 15, 1906.
1.Albro Martin, James J. Hill and the Opening of the Northwest (New York, 1976), 474.
2.Michael H. Hunt, The Making of a Special Relationship: The United States and China to 1914 (New York, 1983), 143-83; Michael H. Hunt, Frontier Defense and the Open Door: Manchuria in Chinese-American Relations, 1895-1911 (New Haven, Conn., 1973), 1-38.
3.Howard K. Beale, Theodore Roosevelt and the Rise of America to World Power (Baltimore, 1956), 200-211; Hunt, Making of a Special Relationship, 150-51, 277-78; Hunt, Frontier Defense, 26-27, 41-42.
4.Fish to Harriman, Dec. 19, 1901, IC; Felton to Harriman, Dec. 26, 1901, IC. The sister company was the Occidental & Oriental Steamship Company, which was originally owned jointly by the Union Pacific and Southern Pacific. For background on both steamship companies, see Maury Klein, Union Pacific: The Birth of a Railroad, 1862-1893 (New York, 1987), passim.
5.WSJ, May 5, Nov. 14, 1904, Feb. 2, 1905.
6.Ibid., June 27, 1905.
7.Thomas J. McCormick, China Market (Chicago, 1967), 78-84; George Kennan, E. H. Harriman's Far Eastern Plans (Garden City, N.Y., 1917), 6-7. Two American promoters came up with a similar plan during the 1890s, but it died from lack of capital and political miscalculations.
8.Lloyd C. Griscom, Diplomatically Speaking (Boston, 1940), 223.
9.Harriman invitation to Fish, June 15, 1905, SF; WSJ, June 28, 1905; Kennan notes, AF.
10.“A Brief Record of a Trip to the Orient by Mr. E. H. Harriman and Party,” 1, AF.
11.Ibid., 1-2, 6.
12.Beale, Theodore Roosevelt, 277-312; Griscom, Diplomatically Speaking, 261.
13.These events are reconstructed from “Brief Record,” 3-5; Griscom, Diplomatically Speaking, 261-63; New York Times, Sept. 8, 9, 1905. Griscom’s account, written later, somewhat confuses the events of September 5-7.
14.“Brief Record,” 13; Kennan, Harriman's Far Eastern Plans, 16.
15.“Brief Record,” 13; Fortune, May 8, 1978, 208.
16.“Brief Record,” 13-15.
17.Griscom, Diplomatically Speaking, 263.
18.Ibid., 263-64; “Brief Record,” 15.
19.Griscom, Diplomatically Speaking, 263-64; Griscom to Harriman, Sept. 25, 1905, AF.
20.“Brief Record,” 15-17; E. Roland Harriman, I Reminisce (Garden City, N.Y., 1975), 15.
21.Harriman to Griscom, Sept. 16, 1905, AF.
22.Paul A. Varg, Open Door Diplomat: The Life of W.W. Rockhill (Urbana, 111., 1952), 71-72.
23.“Brief Record,” 17-18; New York Times, Oct. 1, 6, 1905; Straight to Henry Schoellkopf, Sept. 17, 1905, WDS.
24.“Brief Record,” 18.
25.Griscom to Harriman, Sept. 25, Oct. 7, 1905, AF; “Memorandum of Mr. Griscom’s Remarks to Count Katsura (Prime Minister), Count Inouye, and Mr. Sakatani (Vice- Minister of Finance) in Separate Interviews,” n.d., AF.
26.Press statement, Oct. 13, 1905, AF; K. Uyeno to Harriman, Oct. 21, 1905, AF. A copy of the memorandum is in AF. It is reprinted in Kennan, Harriman’s Far Eastern Plans, 23-25.
27.Alice Roosevelt Longworth, Crowded Hours (New York, 1933), 107.
28.Ibid.; Harriman, I Reminisce, 23-24.
29.J. Soyeda to Harriman, Oct. 30, 1905, AF; Kennan, Harriman's Far Eastern Plans, 26-27.
30.Undated cable, AF; Soyeda to Harriman, Nov. 13, Dec. 18, 1905, Jan. 15, 1906, AF; Griscom to Harriman, Feb. 15, 1906, with enclosure, AF. Some of this correspondence is reprinted in Kennan, Harriman's Far Eastern Plans, 27-37.
31.WSJ, Oct. 25, 1905; Harriman invitation to Fish, Jan. 4, 1906, SF; New York Times, Jan. 10, 1906; K. Matsumoto to Harriman, Apr. 29, 1906, AF.
32.Kennan, Harriman's Far Eastern Plans, 39-40.
1.Cornelia Harriman to Mary Harriman, undated, AF.
2.Mary Harriman to her father, undated, AF.
3.Fortune, May 8, 1978,198.
4.Louis Husbrouck to Fish, Feb. 26, 1897, IC; New York Times, Apr. 5, 1903.
5.New York Times, Apr. 5, 1903; Willie Harriman to E. H. Harriman, Dec. 3, 1892, AF.
6.Kennan notes on Harriman letter, Nov. 19, 1902, AF; Harriman to Hill, Feb. 26, Apr. 9, 1903, JJH; Fish to Harriman, Mar. 7, 1903, IC; New York Times, Apr. 5, 1903.
7.New York Times, May 21, 1903; W. L. Park, “Personal Recollections of Mr. Harriman in connection with the Union Pacific,” 24, AF.
8.Park, “Recollections,” 24-25.
9.Samuel M. Felton, “The Genius of Edward H. Harriman,” American Magazine 99 (Apr. 1925): 185-86.
10.Ibid.; New York Commercial May 16, 1903; New York Times, May 16, 1903; Chicago Chronicle, May 16, 1903.
11.New York Times, May 16, 1903; Chicago Chronicle, May 16, 1903.
12.New York Times, May 17, 1903; New York Commercial May 17, 1903.
13.New York Commercial May 21, 1903; New York Times, May 21, 1903; Bancroft to Cornish, May 22, 1903, JA; Mary Harriman to Hill, May 27, 1903, JJH; Harriman to Hill, May 28, 1903, JJH; Felton, “Genius of Harriman,” 186.
14.John Muir, “Tribute to the Memory of E. H. Harriman,” 10, AF.
15.Harriman to J. M. McGuinness, undated, AF; Chicago Tribune, Mar. 26, 1902; New York Times, Dec. 19, 1934.
16.E. Roland Harriman, I Reminisce (Garden City, N.Y., 1975), 13.
17.Ibid., 7, 27-28.
18.Ibid., 13, 28.
19.Ibid., 36-37; Fortune, May 8, 1978,198; New York Times, June 30, 1908.
20.Harriman, I Reminisce, 16-19.
21.Ibid., 12.
22.New York Times, Dec. 19, 1934; Persia Campbell, Mary Williamson Harriman (New York, 1960), 22,42.
23.DAB, 18:121; Herbert Croly, Willard Straight (New York, 1924), 1-158.
24.Diary of Willard Straight, Oct. 27, 1904, WDS.
25.Croly, Straight, 197-200.
26.Michael H. Hunt, Frontier Defense and the Open Door: Manchuria in Chinese-American Relations, 1895-1911 (New Haven, Conn., 1973), 154.
27.Croly, Straight, 202.
28.Straight to Harriman, Oct. 31, Nov. 15, Dec. 7, 27, 1906, Mar. 19, 1907, WDS; Mary Harriman to Mrs. C. C. Davis, Apr. 15, [1907], AF; Hazel Straight to Willard Straight, June 3, 1907, WDS.
29.Cornelia Harriman to Mary Harriman, undated, AF.
30.Ibid.; Mary Harriman to Charles Davis, undated but Aug. 1907, AF.
31.Mary Harriman to Charles Davis, undated; Davis to Mary Harriman, Aug. 8, 1907, AF; New York Times, Aug. 6, 1907.
32.New York Times, Dec. 19, 1934. Two of Goelet’s school essays are in my possession.
33.New York Times, Dec. 19, 1934.
34.Ibid., Mar. 4, 1908.
35.Harriman to his wife, July 20, 1906, AF.
36.Ibid.
37.Campbell, Mary Williamson Harriman, 67-68.
1.Fish to Harriman, Nov. 18, 1901, IC.
2.WSJ, May 4, 1905.
3.Maury Klein, Union Pacific: The Rebirth, 1894-1969 (New York, 1990), 145-46. A copy of the new memorandum is in D. Miller to Hill, July 30, 1902, JJH.
4.Louis W. Hill to Hill, June 16, 1902, JJH; Mellen to W. P. Clough, June 16, 1902, JJH; Clough to Hill, June 18, 1902, JJH; Hill to Harriman, Mar. 31, Apr. 9, 1902, JJH; Hill to Schiff, Mar. 31, 1902, JJH; Harriman to Hill, Feb. 22, Apr. 1,2,12, 1902, JJH; Schiff to Hill, Apr. 2, 1902, JJH.
5.George Harris to Hill, Sept. 14,19, 1902, JJH; Hill to D. Miller, Sept. 16,30, 1902, JJH; Hill to Mellen, Sept. 30, 1902, JJH; Clough to Hill, Sept. 30, Oct. 3, 1902, JJH; Hill to Clough, Oct. 4, 1902, JJH.
6.WSJ, Feb. 12,21,22,25, 1902; New York Times, Feb. 20-22, 1902; B. H. Meyer, A History of the Northern Securities Case (Madison, Wisc., 1906), 242-43, 257-58; Elting E. Morison and John M. Blum, eds., The Letters of Theodore Roosevelt, 8 vols. (Cambridge, Mass., 1951-54), 3:236, 257, 590-91; Albro Martin, James J. Hill and the Opening of the Northwest (New York, 1976), 515.
7.Martin, Hill, 513.
8.J. Stanley-Brown to Hill, Feb. 26, 1902, JJH.
9.Harriman to Hill, Feb. 17, 1902, JJH; Hill to Steele, Feb. 19, 1902, JJH; Hill to Harriman, Jan. 15, Feb. 19, 1902, JJH.
10.New York World, Dec. 24, 1899.
11.WSJ, June 14, July 17, 1905.
12.Ibid., Mar. 21, Sept. 17, 1902; New York Times, Jan. 17, 1903; Kennedy to Hill, Feb. 21, 1903, JJH; Hill to Kennedy, Feb. 25, 1903, JJH; “Memo for Mr. Hill,” Feb. 24, 1903, JJH.
13.New York Times, May 27, June 3, 1902; Omaha World-Herald, May 28, 1902; Omaha Bee, May 28, 1902; WSJ, June 3,4, 1902.
14.WSJ, June 4, 1902.
15.New York Times, Mar. 19-22, Apr. 10, 1903; Chronicle, 76:654; WSJ, Apr. 1, 9,10, 1903; Meyer, History of the Northern Securities Case, 258-59, 272-74.
16.WSJ, Apr. 13, 1903; M. D. Grover to Hill, Apr. 18, 1903, JJH; Hill to C. E. Perkins, Apr. 21, 1903, JJH.
17.Schiff to Hill, Apr. 9,19, 1903, JJH.
18.Meyer, History of the Northern Securities Case, 274-78; New York Times, Aug. 1, 1903; Railroad Gazette, 35:570.
19.Farrer to Hill, Aug. 20, 1903, JJH.
20.Mount Stephen to Hill, Aug. 21, 1903, JJH.
21.Hill to Mount Stephen, Sept. 10, 1903, JJH.
22.Meyer, History of the Northern Securities Case, 279-89, contains a full analysis. See also Chronicle, 78:1138; Railroad Gazette, 36:212; New York Times, Mar. 15, 1904.
23.Frank Parsons, “The Merger Tangle,” Arena 31 (June 1904): 588; Klein, Union Pacific: Rebirth, 148.
24.WSJ, Mar. 18, 1904.
25.Klein, Union Pacific: Rebirth, 148.
26.Ibid., 148-49; Railroad Gazette, 36:274; WSJ, Mar. 25,29, Apr. 2, 1904; Hill to William B. Dean, Apr. 1, 1904, JJH; Denver Republican, Apr. 9, 1904; Chronicle, 78:1392-93, 1447.
27.WSJ, Apr. 5, 1904; New York Commercial, Apr. 5, 1904; D. Willis James to Hill, Apr. 25, 1904, JJH; Schiff to Mount Stephen, May 8, 1904, JJH; W. P. Clough to Hill, May 14, 1904, JJH; Hill to Mount Stephen, June 15, 1904, JJH.
28.Farrer to Hill, July 11, 1904, JJH.
29.Mount Stephen to Hill, July 15, 1904, JJH.
30.Ibid.; Baker to Hill, July 26, 1904, JJH; E. T. Nichols to Hilf, Aug. 5, 1904, JJH.
31.Hill to Farrer, July 22, 1904, JJH.
32.WSJ, July 30, 1904; Mount Stephen to Hill, July 1, Aug. 10, 1904, JJH; Farrer to Hill, Aug. 25, 1904, JJH.
33.WSJ, Jan. 4-6,25, Mar. 7, 1905; New York Times, Jan. 4,31, Mar. 7, Apr. 4, 1905; Railroad Gazette, 38:4,93,197; Hill to Schiff, Mar. 10, 1905, JJH.
34.Schiff to Hill, May 14, 1905, JJH; WSJ, May 19, 1905.
35.WSJ, Oct. 25, 1905; Klein, Union Pacific: Rebirth, 149.
1.Edwin Lefevre, “Harriman,” American Magazine 64 (June 1907): 126-27.
2.Denver Post, Mar. 20, 1902; Kansas City Journal, May 10, 1902; Denver Republican, Oct. 21, 1903; Harriman to Millar, Mar. 6, 1903, IC; W. C. Taylor to L. W. Hill, July 8, 1902, JJH; Fish to Horace Burt, Aug. 9, 1902, IC; WSJ, July 8, 9, 26, 29, Sept. 9,11, 25, Oct. 11, 20, 24, Dec. 15, 1902; Omaha Bee, Oct. 13,15, 1902; Fish to Harriman, Oct. 22, 1902, IC.
3.Stubbs to William Sproule and J. A. Munroe, July 8, 1902, UPL; United States of America v. Union Pacific Railroad Company et al., U.S. Circuit Court for the district of Utah, docket no. 993,3:1132-64,11:4918-21; hereafter cited as USA v. UP.
4.Stubbs to Sproule and Munroe, July 8, 1902, UPL; USA v. UP, 3:1132-64, 11:4918-21; Hugh Neill to Batson, Nov. 28, 1911, AF. Unless otherwise indicated, this episode is drawn from these sources.
5.USA v. UP, 3:1104-8, 1134-38, 1164,10:4722, 4759-62.
6.Ibid.; WSJ, June 29, 1904; New York Times, Jan. 13, 1907; Railroad Gazette, 42:96, 600.
7.“Address Delivered by E. H. Harriman at the Opening of the Louisiana Purchase Exposition at St. Louis, Missouri, April 30, 1904,” 1-4, AF.
8.Ibid., 5-6.
9.Chronicle, 76:655; Denver Post, July 2, 1903; New York Times, Feb. 6, 1904; WSJ, Feb. 8, 79 1904, Jan. 13, 1905.
10.WSJ, Aug. 29, Sept. 21, Oct. 13, 1904; New York Times, Sept. 10, 1904; Chronicle, 78:1168, 79:1024, 1267, 2749.
11.Harriman to Gould, Apr. 26, 1905, reprinted in USA v. UP, 1:208-9.
12.Ibid.; WSJ, Apr. 25, 1905; New York Times, Apr. 23, 28, 1905.
13.New York Times, Mar. 20, June 8, 1905; Chronicle, 80:1364, 1480,1730; WSJ, Apr. 24, 25, 29, May 2, 4, 1905.
14.New York Times, Apr. 23, 1905; WSJ, May 11,12, June 5, 1905; W. L. Burton, “History of the Missouri Pacific,” 802-3, unpublished manuscript, copy in author’s possession.
15.Burton, “History of the Missouri Pacific,” 790-803.
16.WSJ, July 23, 1904, Apr. 25, May 6,17, July 15, Sept. 28, Oct. 4, 1905, Apr. 14, 1906; New York Times, Oct. 1, 1905.
17.Maury Klein, Union Pacific: The Rebirth, 1894-1969 (New York, 1990), 151-52.
18.USA v. UP, 2:834-36; Bernard Baruch, My Own Story (New York, 1957), 151,164.
19.WSJ, Oct. 14, 22, 28, Nov. 3, 12, 27, Dec. 30, 1903, Jan. 8, 13, 14, Feb. 12,19, 26, July 9, Sept. 5, 9,10, 21, Oct. 5, 1904; Harriman to Felton, Apr. 14, 1903, AF; New York Times, Sept. 19, 1904; Union Pacific Exec. Com. minutes, Sept. 29, 1904, UPL; Chronicle, 80:417; Cyrus Adler, Jacob Schiff: His Life and Letters, 2 vols. (Garden City, N.Y., 1928), 1:139-40.
20.C. M. Keys, “Harriman,” World’s Work 13 (Jan. 1907): 8550-51; WSJ, Apr. 15, June 9, Aug. 4, Oct. 12, Nov. 8,18, 1904, Jan. 25, Feb. 8, 24, Mar. 3, 4, Apr. 6, May 2, 3, 9, 1905; Railroad Gazette, 38:80.
21.New York Times, Oct. 28, 1905; Hill to Louis Hill, July 20, 1905, JJH; WSJ, Oct. 28, Nov. 21, Dec. 2, 1905, Jan. 27, Feb. 14, 1906; Railroad Gazette, 43:406.
22.WSJ, Sept. 22, 1905.
23.New York Times, Oct. 25, Nov. 5, 1905, Mar. 23, 1906; Railroad Gazette, 43:406; Unsigned cable to Hill, Oct. 6, 1904, JJH; Hill to Mount Stephen, Dec. 12, 1904, JJH; WSJ, Jan. 27, 31, Feb. 9, Mar. 7, Oct. 25, 28, Nov. 17, 1905, July 28, Dec. 25, 1906; Stillman to Harriman, Mar. 2, 1906, AF; Harriman to Stillman, May 27, 1906, AF; Harriman to Charles D. Hine, Dec. 26, 1906, AF.
24.William Ashton to Bancroft, June 19, 1903, JA; Deseret Evening News, June 18, 1903.
25.Hood to Bancroft, June 19, 1903, JA; Bancroft to Hood, June 25, 1903, JA; P. L. Williams to W. R. Kelly, July 21, 1903, JA; Cornish to Bancroft, July 30, 1903, JA.
26.Bancroft to Cornish, July 31, Aug. 3,4,8,9, 1903, JA; Cornish to Bancroft, Aug. 4,5,8,18, 27, 1903, JA; Hood and Bancroft to Cornish, Aug. 5, 1903, JA; Bancroft to W. R. Kelly, Aug. 12, 1903, JA; P. L. Williams to Bancroft, Aug. 17, 1903, JA. The agreement gave Harriman a half interest in Empire and in the California Improvement Company, which owned the stock of the San Pedro and the Los Angeles Terminal Land Company. Harriman bought this interest on behalf of the Short Line. See Oregon Short Line Exec. Com. minutes, July 16, 1903, UPL.
27.Cornish to Kelly, Aug. 28, 1903, JA; Cornish to Bancroft, Aug. 28, 1903, JA; Kelly to Cornish, Aug. 28, 29, 1903, JA; Kelly to T. E. Gibbon, Aug. 29, 1903, JA; Hood to Bancroft, Aug. 31, 1903, JA; Bancroft to Hood, Sept. 4, 1903, JA.
28.William Ashton to Hood, June 19, 1903, JA; Hood to Ashton, June 23, 1903, JA; Hood to Hawgood, June 24, Sept. 23, 1903, JA; Hood to Bancroft, June 30, Sept. 23, Oct. 5, 13, 1903, JA; Hawgood to Hood, Oct. 2, 1903, JA; Bancroft to Cornish, Oct. 6, 8, 1903, JA; Cornish to Bancroft, Oct. 29, 1903, JA.
29.Bancroft to Cornish, Dec. 29, 1903, JA; Hood to Hawgood, Jan. 15, Feb. 5,6,10, 1904, JA; Hawgood to Hood, Feb. 3, 1904, JA; Bancroft to Hood, Feb. 13, 25, 1904, JA; Hood to Bancroft, Feb. 27, 1904, JA.
30.Bancroft to Hood, Mar. 4, 1904, JA; Bancroft and Hood to Harriman, Mar. 12, 1904, JA.
31.Bancroft to Cornish, Mar. 13, 24, 1904, JA; Hood to Hawgood, Mar. 17, 30, 1904, JA; Hood to Bancroft, Mar. 17,30, Apr. 1, 1904, JA.
32.Hood to Bancroft, Apr. 7,11,12, 20, 1904, JA; Bancroft to Hood, Apr. 4,10, 22, 1904, JA; Hood to Hawgood, Apr. 6, 1904, JA; Clark and Hawgood to Bancroft and Hood, Apr. 2, 1904, JA; Bancroft and Hood to Clark and Hawgood, Apr. 8, 1904, JA; John H. Norton to Hawgood, Apr. 16, 1904, JA; Erickson & Petterson to Hawgood, Apr. 22, 1904, JA; Hawgood to Bienenfeld, Apr. 27, 1904, JA.
33.Hood to Bancroft, Apr. 29, May 2, 3, 1904, JA; Bancroft to Hood, May 1, 3, 1904, JA; Bancroft to Cornish, May 1, 1904, JA; Hood to H. I. Bettis, May 2, 1904, JA; Hood to Ross Clark, May 3, 1904, JA.
34.Bancroft to Hood, May 3, 4, 1904, JA; Hood to Bancroft, May 4, 1904, JA; Bancroft to Cornish, May 4, 1904, JA; Cornish to Bancroft, May 4, 6, 1904, JA; Ross Clark to Bancroft, May 4, 1904, JA.
35.“Minutes of Construction Committee Meeting,” May 7,9,10,11, 1904, JA; Bancroft and Hood to Cornish, May 12, 1904, JA; Bancroft to Cornish, May 13, 1904, JA. The account of the meeting is taken from these sources.
1.Charles P. Norcross, “Owners of America,” Cosmopolitan, July 1909,170; Otto H. Kahn, “Edward Henry Harriman,” in Stuart Bruchey, ed., Three Railroad Pioneers (New York, 1981), 18.
2.Kahn, “Harriman,” 18-19.
3.R. Carlyle Buley, The Equitable Life Assurance Society of the United States, 1859-1964, 2 vols. (New York, 1967), 1:572-77.
4.Ibid., 3-485; Report of the Joint Committee of the State of New York Appointed to Investigate the Affairs of Life Insurance Companies (Albany, 1906), 68-69,76-77; hereafter cited as Armstrong Report.
5.Armstrong Report, 78-98.
6.Ibid., 75; James W. Alexander to James H. Hyde, Nov. 14, 1904, HBH.
7.Buley, Equitable, 1:535,540; NCAB, 15:249.
8.Quoted in Buley, Equitable, 1:516, 523.
9.Armstrong Report, 76.
10.Henry Morgenthau, All in a Life-Time (Garden City, N.Y., 1922), 66, 80; Buley, Equitable, 1:589-93.
11.Buley, Equitable, 1:577-86, and Armstrong Report, 91-103, detail some of these ventures.
12.Armstrong Report, 87; Harriman testimony, Testimony Taken before the Joint Committee of the Senate and Assembly of the State of New York to Investigate and Examine into the Business Affairs of Life Insurance Companies Doing Business in the State of New York (Albany, 1905), 3081; hereafter cited as Armstrong Hearings.
13.Armstrong Report, 101-3; Harriman testimony, Armstrong Hearings, 3081-87; Buley, Equitable, 1:632. Harriman’s acceptance of the seat on Equitable’s board, dated May 3, 1901, is in AF.
14.Harriman testimony, Armstrong Hearings, 3104-6.
15.Buley, Equitable, 1:603-12. The petition asked that all policyholders with policies of $5,000 or more be allowed to vote for directors.
16.Ibid., 598-603; New York Times, Feb. 1, 1905; New York World, Feb. 5, 1905.
17.Harriman testimony, Armstrong Hearings, 3090-96; New York Times, Nov. 15, 1905.
18.Buley, Equitable, 1:612. The source for this meeting is a memorandum made by Hyde at the time.
19.Ibid., 612-18; New York World, Feb. 13,15, 1905.
20.Buley, Equitable, 1:618-19. Buley’s chief source for most of these events is detailed notes left by Hyde, which must be regarded as partisan. The intriguing question is why Hyde, never the most precise of men in business, took such care from the outset of the fight to compile detailed notes and memorandums of every meeting and event.
21.Ibid., 619-20; WSJ, Feb. 20, 1905.
22.Buley, Equitable, 1:620-21; New York Worldy Feb. 16-19, 1905; Schiff to Hyde, [Feb. 17, 1905], HBH; Frank Vanderlip to Stillman, Mar. 1, 1905, FAV.
23.Buley, Equitabky 1:622-24. The Frick Committee originally had seven members, but two declined to serve.
24.WSJy Apr. 4, 1905; New York Worldy Mar. 15, 19, 22, 28-31, 1905; Harriman to Odell, Apr. 4, 1905, AF.
25.Harriman to Odell, Apr. 4, 1905, AF.
26.WSJy Apr. 4, 1905; Harriman testimony, Armstrong HearingSy 5152; note on telegrams between Harriman and Odell, Apr.-May 1905, AF.
27.Buley, Equitabky 1:627-35; WSJ, Apr. 20, May 4, 9,11, 25, 1905; New York Worldy Apr. 1-27, May 4, 1905; New York 5MM, Apr. 8, 1905.
28.Clarence J. Housman, “Recollections of E. H. Harriman,” 1, AF; Morgenthau, All in a Life-Timey 81-82.
29.New York Worldy May 8, 9,11,13, 20, 27, 1905.
30.Buley, Equitabky 1:640-42; New York Timesy June 2, 1905; New York Worldy May 31, June 1,3, 1905.
31.New York Times, June 3, 1905, contains a full account of the meeting.
32.New York World, June 2,3, 1905.
33.WSJ, June 5-10, 1905; New York Times, June 5, 1905; New York World, June 4-8, 1905; Frank Vanderlip to Stillman, June 6,7, 1905, FAV.
34.New York World, June 4-6, 1905.
35.Vanderlip to Stillman, June 7, 1905, FAV.
36.Armstrong Report, 71.
37.New York World, June 8, 1905; Harriman testimony, Armstrong Hearings, 5135; Buley, Equitable, 1:644-46.
38.New York World, June 9-11, 1905; Harriman testimony, Armstrong Hearings, 5136; Frank A. Vanderlip, From Farm Boy to Financier (New York, 1935), 150; Bernard M. Baruch, My Own Story (New York, 1957), 104,111; Buley, Equitable, 1:648-49.
39.Harriman testimony, Armstrong Hearings, 5142.
40.Ibid., 5135-37; Ryan testimony, Armstrong Hearings, 4800-4801. Ryan’s version differs somewhat from Harriman’s. He claimed that Harriman told him he had spent a lot of time on the Equitable and should have been consulted before the purchase and that Ryan could not carry out his plans without Harriman’s aid.
41.Harriman testimony, Armstrong Hearings, 5140-41.
42.Ibid.; Buley, Equitable, 1:644-46.
43.Harriman testimony, Armstrong Hearings, 5142-51.
44.Ryan testimony, Armstrong Hearings, 4803-5; Harriman testimony, ibid., 5142-51, 5149.
45.Buley, Equitable, 1:658.
46.Ibid., 654-57; WSJ, June 13, 1905; New York World, June 20, 1905; Harriman to Sidney Webster, Jan. 2, 1906, AF. For the significance and context of this letter, see Chapter 27.
47.Vanderlip to Stillman, June 14, 1905, FAV.
48.Kennan notes, 9-10-09, AF; WSJ, Apr. 30, 1910. Herbert L. Satterlee, J. Pierpont Morgan: An Intimate Portrait (New York, 1939), 516-17, says that Morgan bought all the stock from Ryan. Buley, Equitable, 2:757, could find no evidence that Ryan had sold the shares to Harriman, but in fact they were listed in the official tally of Harriman’s estate. See New York Times, Mar. 18, 1913. It is not known when Harriman bought them from Ryan.
49.WSJ, June 23, 30, 1905; New York World, June 16, 20-22, July 11-13, 1905; Vanderlip to Stillman, June 23,30, July 12, 1905, FAV.
50.Vanderlip to Stillman, July 12, 1905, FAV; WSJ, July 13,14,17, 22, 1905; New York World, July 11-13,15,16,21, 1905.
51.New York Times, July 22, 1905.
52.Ibid., July 26, 1905; New York World, July 25,26, 1905. A copy of the full statement is also at AF and in George Kennan, E. H. Harriman, 2 vols. (New York, 1922), 1:417-18. Kennan errs in saying that Harriman never published the statement.
53.WSJ, July 27,29, Sept. 30, 1905; New York World, Aug. 2, Sept. 1,7,16,24,30, Oct. 11, 1905; Buley, Equitable, 1:674-84.
54.WSJ, Nov. 15, 1905; New York Times, Nov. 15, 1905; New York World, Nov. 15, 1905.
55.WSJ, Nov. 16, 1905; New York Times, Nov. 16,17, 1905; New York World, Nov. 16,17, 1905. See also the relevant testimony in Armstrong Hearings.
56.WSJ, Nov. 16, 1905; New York Times, Nov. 16, 1905; New York World, Nov. 16,17, 1905.
57.Ryan testimony, Armstrong Hearings, 4800-4809; Harriman testimony, ibid., 5135-65.
58.Kahn, “Harriman,” 19-20.
1.New York Times, Feb. 22, 1906.
2.Ibid., Feb. 22, July 8, 1906.
3.WSJ, Feb. 7, 1906; New York Times, Feb. 22, 1906.
4.Mary Cable, Top Drawer (New York, 1984), 138,188-89.
5.George Kennan, E. H. Harriman, 2 vols. (New York, 1922), 2:44-47; New York Herald, Sept. 25, 1907. The dreary saga of U.S. Shipbuilding is best followed in the Wall Street Journal for these years. A list of the syndicate members is in SF. The Odell suit in the Equitable fight (see Chapter 23) involved this same company.
6.Harriman to Fish, Nov. 2, 1905, SF.
7.New York Times, Feb. 27, 1907; Kennan, Harriman, 2:44-45. Kennan based his version on papers furnished him by Mary Harriman. Copies of some of this material are in AF.
8.Harriman to Fish, Nov. 2, 1905, SF; Kennan interview with Stone, Apr. 29, 1915, AF.
9.C. C. Tegethoff to Fish, Nov. 5, 1903, Jan. 28, 29, June 29, Oct. 18, Dec. 30, 1904, Feb. 24, Apr. 12, June 29, Sept. 29, 1905, SF; New York Times, Feb. 27, 1907; Fish to Harriman, Oct. 2, 1905, AF; Harriman to Fish, Nov. 2, 1905, SF; Fish to Harriman, Nov. 29, 1905, AF; Kennan, Harriman, 2:46-48. Kennan’s copies of these letters make it clear that the versions appearing in his biography are excerpts from longer letters rather than full text.
10.Frank A. Vanderlip, From Farm Boy to Financier (New York, 1935), 203-4.
11.Fish to Peabody, Feb. 17,19, 1906, SF; Peabody to Fish, Feb. 20, 1906, SF.
12.Fish to Edward J. Parker, Feb. 9, 1906, IC; Mayes & Longstreet to Fish, Feb. 10, 1906, IC; Fish to Mayes 8c Longstreet, Feb. 15, 1906, IC. For the early history of Railroad Securities, see Chapter 16.
13.New York Times, Feb. 22, Apr. 8, July 8, 1906; WSJ, Feb. 27, 28, Mar. 6, 1906; Frank Vanderlip to Stillman, Feb. 27, 1906, FAV; Fish to F. T. Bacon, Feb. 28, 1906, IC; Fish to Peabody, Feb. 28, Mar. 5, 1906, SF; Peabody to Fish, Mar. 2, 1906, SF.
14.Cyrus Adler, Jacob Schiff: His Life and Letters, 2 vols. (Garden City, N.Y., 1928), 1:123; WSJ, Apr. 3, 7, 9, 11, 18, 1906. The directors who stood with Harriman were John W. Auchincloss, Cornelius Vanderbilt, Bertie Goelet, Walther Luttgen, and Peabody.
15.Kennan, Harriman, 2:51-52, 56-57; Stuyvesant Fish speech to Illinois Central stockholders, Oct. 17, 1906, AF; Harriman to Stone, Oct. 25, 1906, AF. Kennan’s version of Fish’s actions is drawn from the speech cited above.
16.Fish to Pulitzer, July 28, 1906, Joseph Pulitzer Papers, Butler Library, Columbia University.
17.New York World, Feb. 9,10, 1905.
18.Kennan, Harriman, 2:52-53, 56-57; Harriman to Stone, Oct. 25, 1906, AF. A copy of the agreement is in AF.
19.UP Directors minutes, July 19, 31, 1906, UPL; Fish speech, Oct. 25, 1906, AF; New York Times, July 28, 1906; WSJ, July 31, 1906; Railroad Gazettey 41:89-91; John W. Auchincloss et al. to Fish, Oct. 9, 1906, AF. As was typical in such cases, Harriman, Stillman, and Rogers were present at the meetings but did not vote on the issue because they had a personal interest in it.
20.Fish speech, Oct. 17, 1906, AF; Kennan, Harrimany 2:54-55; Fish to Kuhn, Loeb & Co., Oct. 15, 1906, AF; Kuhn, Loeb & Co. to Fish, Oct. 15, 1906, AF; WSJ, Oct. 22, 1906. A copy of the original statement is in AF.
21.Harriman to Stone, Oct. 25, 1906, AF. Harriman paid Fish with Illinois Central shares bought earlier by the Union Pacific and then transferred the Railroad Securities Company shares to the Union Pacific at cost. See UP Exec. Com. minutes, Oct. 25, 1906, UPL.
22.Kennan, Harriman, 2:57; Stone to Fish, Oct. 17, 1906, AF.
23.Fish speech, Oct. 17, 1906, AF.
24.Proceedings of the Annual Meeting of the Stockholders of the Illinois Central Railroad, Oct. 17, 1906, AF; New York Times, Oct. 17-19, 1906; WSJ, Oct. 18,19, 1906.
25.Harahan to Harriman, Oct. 20, 1906, AF; Harriman to R. W. Goelet, Oct. 21, 22, 1906, AF.
26.Goelet to Harriman, Oct. 24,25, 1906, AF; Henrietta Goelet to Harriman, Oct. 24, 1906, AF.
27.Harriman to Goelet, Oct. 25, 1906, AF.
28.Ibid., Oct. 25, Nov. 1, 1906, AF; Goelet to Harriman, Oct. 25, 1906, AF; Fish to W. W. Astor, Nov. 1,2, 1906, IC; Charles H. Wenman to Fish, Nov. 3, 1906, IC; F. S. Winston to Harriman, Nov. 4, 1906, AF; Harahan to Harriman, Oct. 25, 1906, AF; Harriman to Harahan, Oct. 25, 1906, AF; New York World, Nov. 8, 1906; New York Times, Nov. 6-9, 1906; WSJ, Oct. 20, Nov. 6-9, 1906.
29.WSJ, Nov. 8, 9, 1906; New York Times, Sept. 23, Nov. 10, 1906; Railroad Gazette, 41:397.
30.WSJ, Nov. 8,10, 1906; New York Times, Nov. 12, 1906.
31.Kennan interview with Stone, Apr. 29, 1915, AF.
32.WSJ, July 19, Aug. 2, 30, Sept. 6, 12, 26, 28, 1907; New York Times, Aug. 3, 12, 29-31, Sept. 12-14, 24-28, Oct. 4, 1907.
33.New York Times, Sept. 8, Oct. 5-8,14-17, 20-22, Nov. 16, 21, 24-26, Dec. 1, 6, 7,14,18- 20, 1907; WSJ, Oct. 7, 9,16, 22, 23, Dec. 18, 1907; Railroad Gazette, 43:413, 474, 510,606, 638, 670,734,766.
34.New York Times, Feb. 21, 1908; WSJ, Feb. 21, June 25, 1908; S. Fish, 1600-1914 (Privately printed, 1942), 238.
35.Adler, Schiff1:123; Schiff to Harriman, Mar. 7, 1908, AF.
36.Otto H. Kahn, “Edward Henry Harriman,” in Stuart Bruchey, ed., Three Railroad Pioneers (New York, 1981), 38; Alexander Millar, Edward H. Harriman and the Union Pacific Railroad (New York, 1910), 3; Kennan interview with Stone, Apr. 29, 1915, AF.
37.New York Times, Jan. 3, 6, 8, Mar. 1, Sept. 27, 1907; Vanderlip to Stillman, Jan. 25, 1907, FAV; WSJ, Jan. 23,30, Feb. 9, 1907.
38.Millar, Harriman,3.
1.New York Times Sept. 23, 1906.
2.Alexander Millar, Edward H. Harriman and the Union Pacific Railroad (New York, 1910), 3-
3.WSJ, July 21, 1905; Noel M. Loomis, Wells Fargo (New York, 1968), 278-84.
4.WSJ, Feb. 14, July 13, 1902; Harriman to Fish, Mar. 24, 1902, IC; Loomis, Wells Fargo, 284-89,309. The express company became the major stockholder in the newly merged bank but did not operate it.
5.New York Times, June 27, July 7,17, 20, 1906; WSJ, May 12, July 7,13,16, 20, 1906.
6.New York Times, July 28,31, Aug. 10, 1906; WSJ, July 27, Aug. 1, 9,10, 1906.
7.WSJ, Dec. 11, 1905; Chronicle, 81:266; Railroad Gazette, 39:554-55.
8.Maury Klein, Union Pacific: The Rebirth, 1894-1969 (New York, 1990), 153.
9.United States of America v. Union Pacific Railroad Company et al. y U.S. Circuit Court for the district of Utah, docket no. 993,1:223-25, 251-52, 2:789-90.
10.Ibid.; Klein, Union Pacific: Rebirth, 153-54.
11.WSJ, Aug. 4,17,18, 1906.
12.New York Times, Aug. 18, 1906; Railroad Gazette, 41:151-52; Klein, Union Pacific: Rebirthy 154-55.
13.New York Times, Aug. 18, 1906; Forum, 38:194; Otto H. Kahn, “Edward Henry Harriman,” in Stuart Bruchey, ed., Three Railroad Pioneers (New York, 1981), 17.
14.The best portrait of Roosevelt is found in the splendid biography by Edmund Morris, Theodore Roosevelt (New York, 1979).
15.Ibid., 489.
16.DAß, 13:622-23.
17.Morris, Roosevelty 665-87.
18.The menu, list of thirty-six guests, and seating arrangements for the banquet are in AF.
19.Morris, Roosevelt, 711-30, details Roosevelt’s leap from the state to the national ticket.
20.DAB, 13:623; WSJ, Apr. 1, 1903. For details on New York’s political infighting, see Harold F. Gosnell, Boss Platt and His New York Machine (Chicago, 1924).
21.New York Heraldy Apr. 28, 1901; WSJ, Apr. 21, 1903. The Kennan notes in AF contain several Harriman letters dealing with legislation.
22.Roosevelt to Harriman, Nov. 12, 1901, Aug. 16, Sept. 15, 1902, Oct. 2,9, Dec. 30, 1903, TR; Roosevelt to Odell, July 8, 1902, TR; Harriman to Roosevelt, Sept. 19, 1902, Oct. 8, 1903, Jan. 8, 1904, TR.
23.Elting E. Morison and John M. Blum, eds., The Letters of Theodore Roosevelty 8 vols. (Cambridge, Mass., 1951-54), 3:679.
24.Gosnell, Boss Platty 299-300; Louis J. Lang, ed., The Autobiography of Thomas Collier Platt (New York, 1910), 420-46; WSJy Jan. 14, Apr. 11,13, 1904; New York Times, Apr. 10, 1904; Roosevelt to Harriman, May 12,17, 28, June 3, 25, 1904, TR; Harriman to Roosevelt, May 15, 27, June 2, 24, 1904, TR.
25.Henry F. Pringle, Theodore Roosevelt (New York, 1931), 251-52; Harriman to Roosevelt, June 28, 1904, TR; Roosevelt to Harriman, June 29, 1904, TR.
26.Harriman to Roosevelt, Sept. 20, 1904, TR; Roosevelt to Harriman, Sept. 23, 1904, TR; George Kennan, E. H. Harriman, 2 vols. (New York, 1922), 2:180-81.
27.Quoted in Kennan, Harriman, 2:181-82; Roosevelt to Harriman, Oct. 10, 1904, TR; Harriman to Roosevelt, Oct. 12, 1904, TR.
28.Roosevelt to Harriman, Oct. 14, 1904, TR.
29.Kennan, Harriman, 2:183-89; New York World, Oct. 1, 1904; Pringle, Roosevelt, 249-50. Later, when a controversy arose between them, Roosevelt used the letter in exactly this way and also testified to that effect.
30.WSJ, Oct. 15, 1904; Kennan, Harriman, 2:186-87.
31.Kennan, Harrimany 2:188-94. A receipt for the $50,000, signed by C. N. Bliss, is in AF. Harriman’s version of events is given in his letter to Sidney Webster, written in late December 1905 but not made public until the New York World published it April 2, 1907. Kennan’s version is drawn largely from this letter.
32.Ibid., 194-96; Lang, ed., Platt, 460.
33.New York World, Apr. 2, 1907.
34.Ibid.; WSJ, Jan. 11, 1905; Lang, ed., Platt, 460-61; Gosnell, Boss Platt, 300-301.
35.Harriman to Roosevelt, Nov. 30, 1904, TR; Roosevelt to Harriman, Nov. 30, 1904, TR.
36.Harriman to Roosevelt, Dec. 2, 1904, TR; Roosevelt to Harriman, Nov. 30, 1904, TR.
37.Harriman to Roosevelt, Jan. 24, 30, Feb. 1, Mar. 1, 1905, TR; Roosevelt to Harriman, Jan. 25, 29,31, Mar. 2, 1905, TR; Gosnell, Boss Platty 208-11.
38.Gosnell, Boss Platty 301-4.
39.Roosevelt to Harriman, July 1, Nov. 25, 1905, Feb. 18, 1906, TR; Harriman to Roosevelt, July 5, 1905, TR.
40.WSJ, May 9, 1906; Pringle, Roosevelt, 293-98; Vanderlip to Stillman, May 18, June 20, 1906, FAV.
41.Gosnell, Boss Platt, 303-6; George Kennan, E. H. Harrimany 2 vols. (New York, 1922), 2:198.
42.Harriman to Webster, Jan. 2, 1906, AF. This celebrated letter is reprinted in New York Worldy Apr. 2, 1907. Kennan, Harriman, 2:197, contains only excerpts. A full version in galley form is in UPN.
43.Statement by Maxwell Evarts, i, AF; Odell to Harriman, Aug. 17, 1906, AF. The excerpts of Evarts’s statement given in Kennan, Harriman, 2:203-6, 218-19, 223-26, are edited and do not include some revealing asides.
44.Evarts statement, 1.
45.Ibid., 2-3; W. W. Webb to Mary Harriman, June 6, 1922, AF.
46.Roosevelt to James S. Sherman, Oct. 8, 1906, TR.
47.For this controversy and excerpts from Evarts’s statement, see Kennan, Harriman, 2:203-27.
48.Gosnell, Boss Platt, 305; New York Times, Nov. 10, Dec. 7, 1906; WSJ, Nov. 14,21, Dec. 6, 1906.
49.New York Times, Nov. 19, 1906.
50.Ibid., Nov. 19-21, 1906; WSJ, Nov. 23, 24, 1906.
51.New York Times, Nov. 23, 1906; Roosevelt to Harriman, Dec. 11,12, 1906, TR.
1.W. V. Hill, “Mr. Edward Henry Harriman,” 1, AF. Hill was one of Harriman’s secretaries from December 1901 to September 1907 and often traveled with him.
2.Ibid., 1-2.
3.Ibid., 2.
4.E. E. Calvin to Kennan, Apr. 10, 1921, AF; Calvin report to Harriman, June 18, 1906, AF; WSJ, Apr. 25, 1906.
5.Calvin report, 1-14, AF.
6.Calvin to Kennan, Apr. 10, 1921, AF; Maury Klein, Union Pacific: The Rebirth, 1894-1969 (New York, 1990), 155-57.
7.WSJ, Apr. 23-28, May 4, 1906; Vanderlip to Stillman, May i, 4, 1906, FAV.
8.WSJ, Apr. 23, 25, May 2, 1906. See also Klein, Union Pacific: Rebirth, 157.
9.Calvin to Kennan, Apr. 10, 1921, AF.
10.Hill, “Harriman,” 3.
11.New York Times, May 9, 1906; New York Tribune, May 9, 1906; WSJ, May 9,10, 1906; Railroad Gazette, 40:499; Sunset, June 1906,37-41.
12.WSJ, May 9, 1906; New York Times, Nov. 15,16, 1906; Elting E. Morison and John M. Blum, eds., The Letters of Theodore Roosevelty 8 vols. (Cambridge, Mass., 1951-54), 5:219.
13.Except where noted, this account is drawn from George Kennan, E. H. Harrimany 2 vols. (New York, 1922), 2:88-173; Railroad Gazette, 41:144,420,42:489-92; F. H. Newell, “The Saltón Sea,” Annual Report of the Board of Regents of the Smithsonian Institution 1907 (Washington, D.C., 1908); “Southern Pacific Imperial Valley Claim: Evidence, Statement, and Argument before the Committee on Claims,” House bill 13997, 60th Cong., ist sess. (1908). Copies of the latter documents are at AF.
14.Kennan, Harriman, 2:97,101-6.
15.Quoted ibid., 2:118.
16.Epes Randolph to Kennan, Nov. 16, 1916, AF; “Southern Pacific Imperial Valley Claim,” 7.
17.“Southern Pacific Imperial Valley Claim,” 9.
18.Kennan, Harriman, 2:123; Railroad Gazette, 42:492.
19.Randolph to Kennan, Nov. 16, 1916, AF.
20.Randolph to F. H. Newell, Mar. 9, 1917, AF. Although these early plans were executed by the CDC chief engineer, Randolph accepted “entire responsibility for the plans adopted … in fact they were of my own design.”
21.“Southern Pacific Imperial Valley Claim,” 8.
22.Randolph to Kennan, May 19, 1916, AF.
23.Ibid., Nov. 16, 1916, AF.
24.Klein, Union Pacific: Rebirth, 162-63.
25.Kennan, Harriman, 2:148-49; Roosevelt to Harriman, Dec. 15, 1906, TR.