Two Experiments in Public Ownership of Steam Railroads

Abstract

Troy financed the construction of Schenectady & Troy Railroad when individuals withheld support, 138.—City owned all stock and operated road for ten years, 141.—A losing venture, hampered by legislation and lack of friendly connections, 142.—Mismanaged by political appointees, but must have failed under any management, 145.—North Brookfield, unable to obtain rail connection with a trunk line, built North Brookfield Railroad by means of company in which it took nine-tenths of stock, but arranged for operation by Boston & Albany under lease, 149. —A success in every particular, 150.