tailieunhanh - THE LAST PARTNERSHIPS Inside the Great Wall Street Money Dynasties phần 4

Hai con chết sớm Eleutheros Jr và Catherine. Ban đầu, ông đã đề nghị gọi Henry "Fox" thay vào đó, sau khi Charles James Fox, một chính trị gia Anh phổ biến vào thời điểm đó. Nhưng mẹ ông đã tạo ra một fuss về một đứa trẻ được đặt tên theo một | White Shoes and Racehorses Brown Brothers Harriman and August Belmont man rebuilt the transcontinental link so that it regained the superior place in east-west transportation that it was intended to occupy after the Civil War. Then he began to clash with the top financiers on Wall Street and usually won the battles. The battle for control of the Union Pacific was one notable example. In 1895 J. P. Morgan rejected the idea of reorganizing the Union Pacific which had been tottering on the brink for years. The Treasury was demanding its money from loans made during the post-Civil War period and a major battle was developing concerning who would win the right to put the railroad back on its feet. Harriman crossed swords with Jacob Schiff of Kuhn Loeb who had designs of his own on the reorganization. But Harriman proved that he could raise the necessary capital to rebuild the line at a rate cheaper than Schiff could provide. Kuhn Loeb eventually capitulated and reorganized the railroad according to the Harriman plan. Harriman himself was named chairman of the board and later president of the railroad. In 1901 competing interests flared anew when the Northern Pacific Railroad again raised its head. Since the days of Jay Cooke the railroad had had a troubled history under various managements before a war for its control developed. Harriman began to buy stock in the line to compete with its major shareholder James J. Hill a Morgan customer. Using Kuhn Loeb to help him finance his venture he successfully bought a large block of its stock before it came to the attention of Morgan and Hill. The buying set off a frenzy on Wall Street and the two forces bought more stock than actually existed forcing prices to rise astronomically to more than 1 000 per share a gain of more than 900 in one week alone. Then the collapse came as the short sellers ran for cover and finally had to settle to cover themselves at a loss at a negotiated price. The New York Times ran the story giving it