By Peter J Lewty
In precisely many years of prosperity, among 1886 and 1891, a wave of railroad development broke around the carefully populated inland simple of the Pacific Northwest. Racing to safe strategic routes and resources of site visitors, the railway promoters outfitted an in depth and bewildering community of competing strains. carrying on with the saga he started in To the Columbia Gateway: The Oregon Railway and the Northern Pacific, 1879-1884 (WSU Press, 1987), Peter Lewty describes the region's dramatic railroad growth within the years 1885 to 1893. Recreating the existing surroundings of optimism and pleasure, he lines the growth of the Northern Pacific and Union Pacific platforms within the inside Northwest, chronicles the development of the Pacific extension of the good Northern Railway, and provides a multi-faceted portrait of railway operations at the final frontier of yank payment.
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Extra resources for Across the Columbia Plain: Railroad Expansion in the Interior Northwest, 1885-1893
In the time available before Villard left for Europe, the two men therefore selected all but one of their nominees for the Oregon & Transcontinental board. Leaving Colby and Hoyt in charge of his affairs, Villard then sailed for Germany, where he immediately made arrangements for the money needed to purchase absolute control of the Oregon & Transcontinental Co. This opened the way to enforce the joint lease agreement. As usual, however, everything went wrong. After Villard's departure, Colby and Hoyt found themselves between the devil and the deep sea.
Would then be free to charge exorbitant rates, and neither transcontinental would dare retaliate lest eastbound traffic be diverted to the other. This situation was promising for the exaction of tolls, but it was certain to expire as soon as one of the two Pacific companies completed a direct line of its own, either to Portland or Puget Sound. The O&T therefore attempted to discourage such construction, offering as an alternative a lease of the OR&N property. During the next five years the railway companies discussed a lease by Northern Pacific alone, a lease by Union Pacific alone, and a lease by both companies acting jointly.
Played an important part in financing Edison General Electric, and although it continued to provide Northern Pacific with some capital, the railroad interest took second place. 74 Oregon Railway & Navigation, meanwhile, became one of Union Pacific's most valuable assets, but the manner in which its purchase was financed led to a large increase in floating debt and contributed significantly to that company's later collapse. The Portland agreement of June 17, 1889 resolved the problems caused by overlapping ownership of the Oregon Railway & Navigation and Northern Pacific Railroad companies.