Word: sweringen
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Thus in 1937 wrote Robert Ralph Young, a financial wizard given to homespun free verse. He had worked hard gathering unto himself the mammoth railroad empire created by Cleveland's famed, buccaneering Van Sweringen brothers, and it seemed about to slip from his hands...
Died. George Ashley Tomlinson, 76, burly Great Lakes shipping tycoon, short-time president of the Van Sweringen rail empire's top holding company, onetime Wild West show performer; of a paralytic stroke; in Pasadena. When the Van Sweringens faced loss of control of their $3,000,000,000 rail and real-estate properties in 1935, Tomlinson and Glassmaker George A. Ball made them needed loans, and Tomlinson became president and chairman of the Van Sweringen holding company, Allegheny Corp., in 1938. He resigned the next year, but retained the chairmanship of the Pere Marquette...
...fell in with bad company-flamboyant Jim Fisk, piratical Jay Gould, pious Daniel Drew. Together they manipulated her back and forth from bonanza to bankruptcy, got her known as the "Scarlet Lady of Wall Street." Exhausted, the Erie had collapsed three times by 1895. Then she reformed. Under Van Sweringen control, she became a respectably operated road. But her capital structure never really recovered from Jay Gould's attentions, and she never again paid a dividend on the common. In 1938 Erie chugged into receivership (whither eleven Class I roads had preceded her) for the fourth time...
When portly O. P. Van Sweringen finally bought control of Missouri Pacific R. R. for his top-heavy Alleghany Corp. in 1930 he was tickled pink. The word that more than 50% of MOP stock was his reached him in the office of J. P. Morgan & Co. Beaming all over, O. P. dashed out of the place and around the corner to Kuhn, Loeb & Co. to tell MOP's bankers he was the new boss...
...succeed Northern Pacific's late Charles Donnelly is the job of big (225 Ibs.), reserved, ironhanded Charles Eugene Denney (59), taken from the presidency of the bankrupt Erie. It was the late, smart Railroader John J. Bernet (chief operating officer for the Van Sweringen railroad empire) who first saw that Charlie Denney had something. Son of a master watchmaker, Charlie Denney moved from newsboy to Penn State to Union Switch & Signal Co., through a multitude of railroad jobs to general manager of the Nickel Plate. Then Bernet took him to Erie, left him there as president when he went...