DOCSLIB.ORG

Open Rademacher.Pdf

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Open Rademacher.Pdf The Pennsylvania State University The Graduate School College of Earth and Mineral Sciences THE SPATIALITY OF THE CORPORATE LANDSCAPE: RAILROADS AND PATTERNS OF POWER A Thesis in Geography by Henry J. Rademacher © 2004 Henry J. Rademacher Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Philosophy December 2004 The thesis of Henry J. Rademacher was reviewed and approved* by the following: Deryck W. Holdsworth Professor of Geography Thesis Adviser Chair of Committee Roger M. Downs Professor of Geography Head of the Department of Geography Colin Flint Associate Professor of Geography Amy S. Greenberg Associate Professor of History & Women’s Studies *Signatures are on file in the Graduate School. ii ABSTRACT The historical and geographical literature on railroads in the United States is characterized by a paucity of work focusing specifically on the various forms of company control. An aggregate scale of analysis typically prevails, reducing a diverse network of transport companies to a homogeneous whole. In this understanding, the role of the state is often made subordinate to the role of private investment. This dissertation utilizes a tripartite schema to explain power in the control of American railroads between the turn of the twentieth century and the Great Depression—in short, a more political-geographic view. First, patterns of share ownership of 18 northeastern railroads are examined to investigate the “separation of ownership from control,” the often taken-for-granted effect of the corporate revolution. Second, the changing structure of interlocking directorates among these companies and others is explored in order to reveal control networks, the social backdrop to corporate capital, and the lessons to be learned from doing interlocking directorate research. Lastly, a theory of the interstate system is outlined and the role of the state in helping usher in and maintain the railroad property regime is examined. Although interlocking directorates became less important during the span of time studied, “communities of interest” among shareholders, home locations of directors, and state intervention together helped produce a corporate class, a business elite in control of major railroad companies. The activities of this business elite were conditioned by the inertia of the large organizations for which they worked, and were historically contingent upon the histories of established contacts with and among bankers and other financial intermediaries. iii TABLE OF CONTENTS List of Tables .................................................................................................................................vi List of Figures ................................................................................................................................vii Acknowledgements.......................................................................................................................viii Chapter 1. INTRODUCTION ..........................................................................................................1 Introduction ..........................................................................................................................1 Existing Literature on the History and Geography of the North American Railroad ..........5 Investment, Management, and the Persons Behind the Processes .......................................9 Approach and Explanation .................................................................................................18 Setting Up the Following Chapters: Ownership, Control, and the State ...........................20 Chapter 2. SHAREHOLDING AND RAILROAD CORPORATIONS IN THE EARLY TWENTIETH CENTURY: BUILDING-BLOCK FOR CONTROL................................23 Introduction ........................................................................................................................23 Historical Background ...........................................................................................24 The Dataset ........................................................................................................................36 Proxy Voting ..........................................................................................................40 Major Patterns ....................................................................................................................43 Discussion ..........................................................................................................................45 Importance of the Top Twenty Shareholders .........................................................46 Who’s Who in Railroad Stock Ownership? .......................................................................52 Railroad Investment ...........................................................................................................56 Chapter 3. PLACE AND SHAREHOLDING IN AMERICAN RAILROAD COMPANIES ......59 Mapping Ownership...........................................................................................................59 Case Studies in Stock Ownership, Purchase, and Syndicates ............................................64 The Van Sweringens, Robert R. Young, and the Fight for the New York Central ....................................................73 The South Pennsylvania Railroad Syndicate .........................................................80 The Poughkeepsie Bridge Scheme .........................................................................87 Chapter 4. CORPORATE DIRECTORSHIPS AND AMERICAN RAILROAD COMPANIES: THEORETICAL PERSPECTIVES ...................................................................................91 Introduction ........................................................................................................................91 Control—Shareholders and Directors ................................................................................96 Interlocking Directorates and the Social Backdrop to Corporate Capital ........................104 Organizations, Cohesion, and Efficiency .........................................................................110 Chapter 5. INTERLOCKING DIRECTORATES AMONG NORTHEASTERN RAILROAD COMPANIES ..................................................................................................................118 Introduction ......................................................................................................................118 Setting the Scene ..............................................................................................................119 The Dataset ......................................................................................................................121 iv Discussion ........................................................................................................................130 Simple Descriptive Statistics ...............................................................................130 “Outsiders” vs. “Railroad Men”; Non-Railroad vs. Railroad Companies ...........132 Non-Railroad Companies and Interlocks .............................................................140 Conclusions: Interlocks and Railroads in New York State ..............................................144 Chapter 6. RAILROAD DIRECTORSHIPS: “MAPPING” THE CORPORATE COMMUNITY AT WORK AND AT HOME ..........................................................................................154 Introduction ......................................................................................................................154 Separate Company Philosophies ......................................................................................154 Summary ..............................................................................................................172 The Place of Home and the Place of Work ......................................................................175 Work Addresses ...................................................................................................182 Home Addresses ..................................................................................................184 Chapter 7. RETHINKING THE RELATIONSHIP BETWEEN THE RAILROAD AND THE STATE .............................................................................................................................191 Introduction ......................................................................................................................191 Thoughts on and Theories of the State ............................................................................193 Charters and Regulation ...................................................................................................202 The Charter ..........................................................................................................202 Regulation and Legislation ..................................................................................208 Conclusions ......................................................................................................................214 Chapter 8. CONCLUSION ..........................................................................................................219 Summary ..........................................................................................................................219 Qualifications and Further Research ................................................................................226
Load more

Recommended publications
  • Ron Degraw Transit Collection 2397
    Ron Degraw Transit Collection 2397 This finding aid was produced using ArchivesSpace on September 14, 2021. Description is written in: English. Describing Archives: A Content Standard Manuscripts and Archives PO Box 3630 Wilmington, Delaware 19807 askhagley@hagley.org URL: http://www.hagley.org/library Ron Degraw Transit Collection 2397 Table of Contents Summary Information .................................................................................................................................... 3 Biographical Note .......................................................................................................................................... 3 Scope and Content ......................................................................................................................................... 4 Administrative Information ............................................................................................................................ 5 Related Materials ........................................................................................................................................... 5 Controlled Access Headings .......................................................................................................................... 6 Collection Inventory ....................................................................................................................................... 6 SEPTA ........................................................................................................................................................
    [Show full text]
  • The PAYSTREAK Volume 10, No
    The PAYSTREAK Volume 10, No. 2, Fall 2008 The Newsletter of the Alaska Mining Hall of Fame Foundation (AMHF) In this issue: AMHF New Inductees Page 1 Induction Ceremony Program Page 2 Introduction and Acknowledgements Page 3 Previous AMHF Inductees Pages 4-9 Brief History of the Kennecott Mines in Alaska Pages 10-14 New and Previous Inductee Biographies Pages 15-31 Distinguished Alaskans Aid Foundation Page 32 Alaska Mining Hall of Fame Directors and Officers Page 32 Alaska Mining Hall of Fame Foundation New Inductees AMHF Inducts Three Pioneers Who Helped Bring Success to the Kennecott Mines in the Chitina Valley of South-Central Alaska Earl Tappen Stannard was born in Chittenango, New York, on December 9th, 1882. He graduated with honors from the Sheffield Scientific School of Yale University in 1905 with a degree in Mining Engineering. After working as mill superintendent in a Missouri lead mine and the El Teniente copper mine in Chile, Stannard arrived at Kennecott, Alaska in 1913, where he soon perfected the ammonia leaching circuits that allowed for the recovery of copper from carbonate ores. Stannard later designed a flotation plant designed to upgrade copper concentrate output at Kennecott’s Beatson Mine on Latouche Island. After managing the Kennecott mines, E.T. Stannard served as President of the Alaska Steamship Company and the Copper River and Northwestern Railroad. After serving for eight years as the CEO of Kennecott Copper Corporation, Stannard was killed in 1949 along with 18 other passengers and 4 crewmen in a bizarre and infamous Canadian aircraft bombing incident that involved a murder plot carried out by a husband to kill his wife and collect her life insurance.
    [Show full text]
  • Community Profile
    Community Profile City of Schenectady Comprehensive Plan 2020 Reinventing the City of Invention Brian U. Stratton Mayor Community Profile Table of Contents Demographic Characteristics ............................................................................................................ 5 Economic Profile ..........................................................................................................................13 Real Estate and Tax Base Analysis .....................................................................................................31 Housing ......................................................................................................................................43 Infrastructure and Transportation.....................................................................................................59 Natural Resources .........................................................................................................................72 Community Character & Historic Preservation......................................................................................76 Recreation ..................................................................................................................................83 Government, Public Safety and Community Institutions..........................................................................90 List of Tables and Figures Tables Table 1: Summary Demographic Table, City of Schenectady ......................................................................
    [Show full text]
  • Ct Transit Bus Schedule East Haven
    Ct Transit Bus Schedule East Haven Is Joab incentive or tragic after anaerobiotic Marlow caroused so exuberantly? Shawn criminalize his maxima predominating soakingly or yeomanly after Tudor pitapat and retreads natively, tearing and moonish. Greggory is songless and cop scant as nonparous Robb skite indistinctly and waived ineffaceably. Registration is fast and free. Service hours are usually the same as the local bus route. Thank you for helping! Stamford, Bridgeport, and New Haven, located along the coastal highways from the New York border to New London, then northward up the Connecticut River to Hartford. Moving to smaller buses would not reduce these costs and would involve substantial capital costs for the new buses. When I was applying, I applied to six schools: two a uncertain, two solid, and two safeties. Easy to follow charts and graphs make viewing all your stats a breeze. Union Station Shuttle is. Search Bar for CT. Choose to make form fields required or optional, use field validation, and customize all system messages. Sherman Ave, location in Hamden. Get access to detailed information for all your visitors. On the other hand, just keeping or turning traffic signals green for buses may be doable. The western boundaries of Connecticut have been subject to change over time. Points of interest include: Chester center, Goodspeed Opera House, Saybrook Road medical complexes, Middlesex Hospital, Middlesex Courthouse and downtown Middletown. Here are some simple options that can help you reach your destination on time. Note: Holidays are not necessarily observed and service may not be different from the usual for the day.
    [Show full text]
  • Session Overview
    2011 Program 38th Annual Meetings of the European Finance Association Clarion Hotel Sign Stockholm, Sweden August 17-20, 2011 ACKNOWLEDGEMENTS The conference organizers gratefully acknowledge the hard work of our more than 340 Track Chairs and Reviewers who by serving on the Program Committee made this conference possible. We also would like to personally acknowledge the financial support from Handelsbanken’s Jan Wallander and Tore Browaldh research foundations, the Torsten Söderberg Foundation, NasdaqOMX, the City of Stockholm, Riksbankens Jubileumsfond, the European Central Bank, SAC Capital Advisors, LP., Nordea, Commonfund, the newly created Swedish House of Finance (SHOF), and Spängler IQAM Invest. We thank our colleagues René M. Stulz and Pehr Wissén for their willingness to serve as panel moderators. Last, but definitely not least, we are deeply indebted to Robyn Scholl for her outstanding and dedicated work on all aspects of this conference. The Stockholm Team Mike Burkart Ingrid M. Werner Per Strömberg 1 EUROPEAN FINANCE ASSOCIATION The European Finance Association (EFA) was created in 1974 under the auspices of the European Foundation for Management Development (EFMD) and in close cooperation with the European Institute for Advanced Studies in Management (EIASM). The aim of the Association is to provide a professional society for academics and practitioners with an interest in financial management, financial theory and its application. EFA serves as a focal point of communication for its members residing in Europe and abroad. It also provides a framework for better dissemination of information and exchange at the international level. The Association's Annual Meetings provide the opportunity to present research work in all areas of finance, including asset pricing, corporate finance, financial intermediation, market microstructure, behavioral finance, international finance, financial econometrics and real estate.
    [Show full text]
  • Winning Virtuous Strategy Creation by Interlocking Interconnecting Directors in Boards of Directors in firms in Information Century
    Munich Personal RePEc Archive Winning virtuous strategy creation by interlocking interconnecting directors in boards of directors in firms in information century Ledenyov, Dimitri O. and Ledenyov, Viktor O. James Cook University, Townsville, Australia 22 January 2015 Online at https://mpra.ub.uni-muenchen.de/61681/ MPRA Paper No. 61681, posted 30 Jan 2015 08:38 UTC Winning virtuous strategy creation by interlocking interconnecting directors in boards of directors in firms in information century Dimitri O. Ledenyov and Viktor O. Ledenyov Abstract – The article presents an original research on 1) the information theory of the board of directors and 2) the strategy creation by the interlocking interconnecting directors in the boards of directors in the firms in an information century. We review the possible structures of the board of directors, and show that there are the interlocking directors networks in the boards of directors in a big number of firms. Researching the strategic governance of firms, we highlight a fact that the director makes the information sensing, filtering, processing, resonant absorption, analysis, decision making, hence it can be empirically represented as a digital signal processor with the Harvard or von Neumann director’s mindset architectures. We think that the board of directors can be theoretically represented as the electronically-scanned electronically-steered phased array radar with a certain number of active antenna elements, filters banks, digital signal processors, memory chipsets in agreement with the digital signal processing and business administration sciences. Using the theoretical assumptions, we formulate the Ledenyov theory on the winning virtuous strategies creation by the interlocking interconnecting directors in the boards of directors in the firms.
    [Show full text]
  • Eurozone Business Ne
    Les Analyses de l’OpesC n°12 Le « patronat européen » Juin 2009 Observatoire politico-économique des structures du Capitalisme CORE BUSINESS NETWORK IN THE EUROZONE François-Xavier Dudouet, Eric Grémont, Antoine Vion Abstract Surprisingly, available elite studies on the EMU have mainly focused on the strategy of political elites in favor of uniting (Fligstein & Mara-Drita 1996 ; Jabko 2006), and Fligstein (2008) recently claimed there is still no real transnational business cohesive circle in Europe. This echoes a long-standing debate on the existence of a transnational capitalist class or transnational business community (Robinson & Harris 2000; Sklair 2001; Morgan 2001; Carroll & Fennema 2002; Carroll & Carson 2003; Kentor & Jang 2004; Carrol & Fennema 2004; Nollert 2005; Kentor & Jang 2006; Carroll & Fennema 2006). In this paper, we seek to clarify the debate for Europe on the basis of an interlocking directorates study. We present a new theoretical framework for the study of transnational interlocking, a new context of reference (stock exchange indices rather than magazine rankings or international business organizations), and an original data-setting method (board composition at the end of the year for 2006 and 2007). From this perspective, three main observations emerge. First, unsurprisingly, national scores of centrality remain much higher than transnational ones—proof of the persistence of the national anchorage of core business elites. Second, the emerging transnational power based on transnational interlocks is based on the strength of weak ties, particularly around financial companies. Third, though the absolute density of transnational interlocks remains the higher on the Franco-German axis, our partial Chi2 test indicates that it is less important than what could be expected, contrarily to Franco-Dutch interlocks, which call for deeper investigations about economic restructuring in the Netherlands.
    [Show full text]
  • 2018 -2017 BSRA Annual Report Final
    Boston Street Railway Association, Inc. Fifty-Ninth Annual Report 2018 Our 2018 fiscal year, running from October 1, 2017 A This Time in History feature covered the Clarendon Hill through September 30, 2018, has been quite successful, Carhouse fire in 1918. both financially and in the many accomplishments that we The July-August issue had a summary of current MBTA were able to achieve. Efforts in our Publications happenings. The issue also showed a glimpse of the new Department, our Type 5 No. 5706 streetcar restoration Type 9 Green Line car, the new Red Line car mockup, program, improved RollSign content, and another great and wire cars on the MBTA. A This Time in History year of outstanding entertainment programs highlighted segment presented Wire Cars, Watertown, and Women the year. on the El. Also of major importance was our financial performance. In the past year your Editor has made an effort to include We saw a surplus of income received over expenses, more detailed current news events articles with helped by significant donations to the 5706 Fund and the supplementary images throughout the publication. We General Fund. Our Treasurer's annual report presents received many photo submissions but it was impossible these details. Your strong support has made great results to include them all, even if their quality merited possible. publication. The Editor is grateful for your submissions Our officers have presented reports, which follow, in their and thanks everyone who contributed. areas of responsibility. Please take the time to review The RollSign would not be possible without the hard work them.
    [Show full text]
  • The Use Deed Restrictions in Shaker Heights, Ohio
    Protection from Undesirable Neighbors: The Use Deed Restrictions in Shaker Heights, Ohio Virginia P. Dawson This is the “accepted version” of this article published in Journal of Planning History 18 (2), May 2019. The link for the final article is: https://journals.sagepub.com/doi/10.1177/1538513218791466 Abstract: Stringent architectural and building restrictions were put in place as the Van Sweringen Company laid out Shaker Heights, Ohio, an exclusive planned community, incorporated in 1912. In 1925, as African Americans and Jews sought to purchase property there, the company devised and implemented a new restriction that, while containing no overtly discriminatory language, succeeded in achieving the company’s discriminatory objective. The company and, later, the City of Shaker Heights, would continue to enforce this restriction well beyond 1948 when the U.S. Supreme Court ruled religious and racial covenants unenforceable. Keywords: Shaker Heights, Cleveland, deed restrictions, anti-Semitism, racial discrimination, suburban planning, Van Sweringen Company, real estate, Newton D. Baker, African Americans When the Van Sweringen brothers developed Shaker Heights, Ohio, between 1905 and 1929, they did more than transform treeless farmland into an Olmsted-inspired suburb of unusual beauty. Located on a plateau 400 feet above industrial Cleveland’s soot and smoke, Shaker Heights offered clean air and congenial neighbors to those with the means to escape the city. The village, incorporated in 1912, the same year that Ohio municipalities won home rule, was named for the millennial religious sect that once owned the land. The Van Sweringen Company capitalized on this imagined association 1 with the spiritual values of the Shakers.
    [Show full text]
  • Partly-Printed Bond Relied on a Continued Rise in Value, 27
    EARLY STOCKS AND BONDS BALTIMORE WATER COMPANY * 4 NORTH AMERICAN 1809, Maryland. Partially printed LAND COMPANY STOCK early stock certificate with the ap- NOTED SPECULATOR CERTIFICATE ISSUED HORSES FOR pearance of a check for one share. WILLIAM DUER TO JAMES GREENLEAF WASHINGTON’S ARMY Blind embossed company seal. AND SIGNED BY Some toning at edges. Overall Fine. * 6 * 2 WILLIAM DUER (1747-1799) ROBERT MORRIS 1780, PA Anderson PA1. York Founded in 1804, the Baltimore Revolutionary War soldier, finan- County, Pennsylvania bond issued Water Company operated for fifty cier, land speculator and aristo- * 1 in which Lawrence Minfore”…has years before it was purchased by the 1795, Pennsylvania. North Ameri- crat. Autograph Document Signed, furnished this State, for the use of city of Baltimore for over one mil- can Land Company stock certificate “Wm. Duer.” One page, 7 3/8” x the United States, with one dark lion dollars, resulting in the found- number 2101 for eight hundred and 6 3/4”. No place. August 11, 1785. brown Horse 5 years old, 15 hands ing of the Baltimore Water Depart- thirty-three shares issued to JAMES Duer writes to Captain Seymour: high for a waggon which has been ment. $ 300 - up GREENLEAF, who organized the “ Sir, the Bearer Captain Henry is appraised by two freeholders. Very authorized by me [to] take charge North American Land Company Fine. $500 - up along with Robert Morris and John of the Vessell [sic] bought of Nicholson in February 1795, the you on my account by Mr. Ste- month this certificate was issued. phen Sayre, the terms of which The company was formed by the I will comply with- Wm.
    [Show full text]
  • Connecting the Islands.Indd
    Connecting the Islands Chambly Canal Before the completion of the 3.4 mile long cause- way in 1899 from Colchester Point to Allen Point in South Hero, the Rutland Railroad’s freight and Québec passenger cars were transported by way of a steam- boat between Burlington, Vermont and Rouses Canada Point, New York. Constructed in just over one United States year’s time, this incredible accomplishment of industry and immigrant laborers was one part of the Railroad’s 41-mile Island Line linking Vermont via the Champlain Islands to New York. It crossed the Winooski River, miles of Courtesy of John Gardner New York beautiful but foreboding wetlands, and spanned Lake Champlain three more times to connect You Are Here the Champlain Islands, Vermont and New York. Colchester Courtesy of Life Vermont Magazine With the completion of this Rail Link, and with The bridge tenders, who lived on site, opened and closed the 230-ton bridge Dr. William Seward Webb, owner of Shelburne by hand! The bridge was dismantled Farms as its President, the Rutland Railroad then and its high quality steel recycled. experienced some of its most prosperous years since its founding in 1843. The Island Line also opened Vermont the door to prosperity for the small island farming communities by connecting them with the markets of New York City and Boston. Farms and businesses Courtesy of John Gardner sent milk, butter, vegetables and huge quantities of block ice cut from Lake Champlain in winter. 7 % Two miles further north is the gap in the causeway 3 known as “the cut”.
    [Show full text]
  • Beechwood, the Book
    Cleveland State University EngagedScholarship@CSU Cleveland Memory Books 2012 Beechwood, The Book Jeffrey S. Morris jeffmorris74@gmail.com Follow this and additional works at: https://engagedscholarship.csuohio.edu/clevmembks Part of the Social and Cultural Anthropology Commons How does access to this work benefit ou?y Let us know! Recommended Citation Morris, Jeffrey S., "Beechwood, The Book" (2012). Cleveland Memory. 11. https://engagedscholarship.csuohio.edu/clevmembks/11 This Book is brought to you for free and open access by the Books at EngagedScholarship@CSU. It has been accepted for inclusion in Cleveland Memory by an authorized administrator of EngagedScholarship@CSU. For more information, please contact library.es@csuohio.edu. Beechwood: The Book TABLE OF CONTENTS Acknowledgments Sponsors Foreword Chapter 1 The Early Days of Warrensville Township 7 Chapter 2 The Birth of Beachwood 1915-1939 11 Chapter 3 Transitional Times 1940-1950 27 Chapter 4 The Schools and Canterbury Township 37 Chapter 5 The Birth of a Planned Community 1951-1965 43 Chapter 6 The Clark Avenue Freeway & I-271 61 Chapter 7 The City Becomes a City 1966-1980 65 Sidebar: Boom, Boom 75 Chapter 8 Facing Maturity and New Horizons 1981-1997 77 Sidebar: The Pioneers 91 Chapter 9 Open Issues and Resources & Statistics 93 Beechwood, The Book The contents of this book are the property of the Author and can not be copied without written permission, Under Copyright Title 17 U.S. Code Library of Congress Catalog-in-Publication Data Jeffrey S. Morris History of Beachwood, Ohio, City of 96-94096 Dedication This book is written in memory of Dr.
    [Show full text]