The Michigan Fur Trade Volume 5 Book PDF, ePub eBook

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Book Descriptions:
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1919 edition. Excerpt: ... ed from the sale of the tool by means of which the booty was acquired. Unlike most men of this character, the members of the syndicate were not satisfied with the contents of the safe, but wished to further increase their wealth by forcing an innocent bystander to pay an exorbitant price for the instrument with which the ill-gotten gain was secured. From what has been given, it is seen that in a matter of this nature one has to delve beneath the correspondence if the" entire truth is to be found. The view held by the Interstate Commerce Commission after an investigation of the affairs of the Pere Marquette Railroad, is, that J. P. Morgan and Company sought to sell the Cincinnati, Hamilton and Dayton stock to the Erie Railroad and temporarily succeeded, but when the true financial condition of the Pere Marquette and its lessee became known to the stockholders of the Erie Railroad such opposition arose that the loss was forced back on J. P. Morgan and Company. The motive for J. P. Morgan wanting to sell this stock is not even clearly seen by the Commission, or, at least, is not of such a nature that the evidence regarding it could be called conclusive, so the Commission sums up the situation by characterizing the sale, by the Zimmerman-Hollins interests, of the broken-down Cincinnati, Hamilton and Dayton Railroad to J. P. Morgan and Company at $160 per share, as an "astounding.coup." Whatever may have been the reason for the attempted sale, J. P. Morgan found himself on November 28, 1905 with a large block of Cincinnati, Hamilton and Dayton Railroad stock on his hands. This road, as well as the Pere Marquette, had been "milked" to such an extent that the only way open was receivership, which took place on December 5, 1905, Judson Harmon...

The Michigan Fur Trade Volume 5 by Ida Amanda Johnson

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