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Harriman vs. HillWall Street's Great Railroad War$
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Larry Haeg

Print publication date: 2013

Print ISBN-13: 9780816683642

Published to Minnesota Scholarship Online: August 2015

DOI: 10.5749/minnesota/9780816683642.001.0001

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Epilogue: The Last Corner

Epilogue: The Last Corner

Chapter:
(p.283) Epilogue: The Last Corner
Source:
Harriman vs. Hill
Author(s):

Larry Haeg

Publisher:
University of Minnesota Press
DOI:10.5749/minnesota/9780816683642.003.0015

Seven decades of stifling government railroad regulation and government subsidization of commercial aviation, trucking, and inland water transport. 1970 Supreme Court rules unanimously to allow Great Northern, Northern Pacific and Burlington to merge, thereby overturning the 1904 5-4 decision against merger. Railroads become the last major U.S. transport industry to be deregulated. Warren Buffett’s Berkshire Hathaway buys BNSF, the Hill legacy lines. American railroad freight system remains the world’s most successful such system and is the only entirely private run system in the world.

Keywords:   Railroads, Wall Street, Free enterprise, JP Morgan, Theodore Roosevelt, Sherman Act, Anti-trust, Competition versus combination, James J Hill, Edward Harriman

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