John Moody York Quotations

Having obtained control of the New York Central, the Hudson River, and the Harlem railroads, Commodore Vanderbilt now decided in the summer of 1867 to go after the Erie, of which Drew was nominally in possession, although no one knew when he owned a majority of the stock or when he was temporarily short of it.

While for many years after the death of the Commodore the Vanderbilt family remained in direct financial and operating control of the New York Central... yet the brains and resources of the Vanderbilt's were not alone responsible for the brilliant career of the system down to recent times.

The opening of the Erie Canal to New York in 1825 stimulated other cities on the Atlantic seaboard to put themselves into closer commercial touch with the West.

The roads that now make up the New York Central were built piecemeal from 1831 to 1853; and the organization of this company in the latter year, to consolidate eleven independent roads extending from Albany to Buffalo, finally put an end to the long debate between canals and railroads.

The name of Alexander J. Cassatt will always be linked with the comprehensive terminal developments in the region of New York City which were begun almost immediately on his accession to the presidency and which were carried forward on bold and far-reaching lines.

The Vanderbilt family no longer possesses a majority interest in the stock, or anything which approaches it, and the New York Central system and its subsidiaries have come to be known more and more as Morgan properties.

Carrying out this policy of promoting harmony among competing lines, the New York Central and Pennsylvania Railroad early in 1900 acquired a working control of the Reading Company, which in turn controlled the New Jersey Central and dominated the anthracite coal traffic.

The Erie Railroad system was foreshadowed in the time of Queen Anne, when the Colony of New York appropriated the sum of five hundred dollars to John Smith and other persons for the purpose of constructing a public road connecting the port of New York with the West in the vicinity of the Great Lakes.