A Treatise On The Law Of Corporations Having A Capital Stock Vol 1 Of 5 Classic Reprint

Excerpt from A Treatise on the Law of Corporations Having a Capital Stock, Vol. 1 of 5 The consolidations of railroads, which took place in America from 1865 to 1873, seem to have been insignificant as compared with the consolidations of the year 1900. Great trunk lines were swallowed up by other trunk lines. This was done, for the most part, by one railroad purchasing the stock of the other, instead of purchasing its tangible property. The result was that practically all of the eastern railroads passed under the control of the two great eastern systems, the Pennsylvania Railroad and the New York Central Railroad; the western railroads, for the most part, passed under the control of the three great systems, the Great Northern and Northern Pacific Railroads, the Union Pacific Railroad, and the Atchison, Topeka Santa Fe Railroad, while in the south the Southern Railroad practically controls the situation. This process of consolidation demonstrated the truth of George Stephenson's saying, that where combination is possible, competition is impos sible. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.