FTP what was this finance and construction company created to supply the Union and Central Pacific Railroads, most famously led by congressman Oakes Ames?
Herbert M. Hoxie was the only bidder for work this entity was incorporated to undertake and hence in name received the contract. Moxie turned the contract over to Thomas Durant, who ensured that the company's liability to investors would extend only as far as their investment, not their personal wealth, a first in US history. The company paid itself to provide construction materials, starting work by adding a useless nine-mile oxbow to its first track section to increase profits. The scandal was uncovered in letters sent to Henry McComb by the man who ousted Durant from the company's board, letters implicating Henry Wilson and Schuyler Colfax. FTP what was this finance and construction company created to supply the Union and Central Pacific Railroads, most famously led by congressman Oakes Ames?
Herbert M. Hoxie was the only bidder for work this entity was incorporated to undertake and hence in name received the contract.
{Credit Mobilier}