The railroad originally was as completely dissociated from steam propulsion as was the ship

With the reorganization of 1898 finished, the Baltimore and Ohio Railroad entered a new period in its history.

People began to understand that with the acquisition of California the nation had obtained practically half a continent, of which the future possibilities were almost unlimited, so far as the development of natural resources and the genera production of wealth were concerned.

The railroad originally was as completely dissociated from steam propulsion as was the ship

The States which form the northern border of the United States westward from the Great Lakes to the Pacific coast include an area several times larger than France and could contain ten Englands and still have room to spare.

The United States as we know it today is largely the result of mechanical inventions, and in particular of agricultural machinery and the railroad. One transformed millions of acres of uncultivated land into fertile farms, while the other furnished the transportation which carried the crops to distant markets.

Consequently many large railroad systems of heavy capitalization bid fair to run into difficulties on the first serious falling off in general business