The Chicago & Alton Case: A Misunderstood Transaction Review

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The Chicago & Alton Case: A Misunderstood Transaction ReviewThis small volume might be considered as an appendix to George Kennan's majestic two-volume biography of E. H. Harriman. It deals with one specific financial manipulation, that of the reorganization of the Chicago & Alton Railroad in 1899-1900. The book shows that there was nothing particularly different about this reorganization among all of the finanical activities surrounding the railroad industry at the time, nor among the activities of E. H. Harriman and his coterie of establishment figures. However, after a falling-out between Harriman and President Theodore Roosevelt in 1906, the Chicago & Alton "case" became the basis of Roosevelt's claim that Harriman was an "undesirable citizen". Keenan's thesis is that the Interstate Commerce Commission's attack on Harriman was the result of heavy suggestion from the Executive Mansion.The Chicago & Alton Case: A Misunderstood Transaction Overview

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