due to the fact that small lines were costly, companies would combine. They would either buy out smaller companies or run them out of business; tactics used by Cornelius Vanderbilt.
discount, given or granted secretly to the railroads largest customers. This hurt farmers and other small shippers who still had top pay full price.
an American entrepreneruer and engineer who invented the railroad and the air brake
American entrepreneur who built his wealth in shipping and railroads, and was the patriarch of the Vanderbilt family
How did a broad network of railroads develop?
1) standarized the gauge of the tracks 2) Westinghouse invented air brake so trains could be longer and stop faster 3) Pullman designed the sleeping car
What tactics did railroad owners use to eliminate competition?
1) rate wars 2) rebates or discounts to their biggest customers 3) pooling where several companies agreed to divide up the business in a n area and fix prices high