While No One Railroad Can Completely Duplicate

Yet, In 1850 Nearly All The Railroads In The United States Lay East Of The Mississippi River, And All Of Them, Even When They Were Physically Mere Extensions Of One Another, Were Separately Owned And Separately Managed.

The Close Relationship Between Railroad Expansion And The Genera Development And Prosperity Of The Country Is Nowhere Brought More Distinctly Into Relief Than In Connection With The Construction Of The Pacific Railroads.

With The Reorganization Of 1898 Finished, The Baltimore And Ohio Railroad Entered A New Period In Its History.

While No One Railroad Can Completely Duplicate Another Line, Two Or More May Compete At Particular Points

Consequently Many Large Railroad Systems Of Heavy Capitalization Bid Fair To Run Into Difficulties On The First Serious Falling Off In General Business