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QUOTE COLLECTIONS OF John Moody
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Quotes By author - Starting with J - John Moody
There are 99 quotes for the author John Moody
Quotations 51 to 60 of 99
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The old saying that capital is the most timid thing in the world and does not like pioneering is strongly emphasized by such instances as this, and no doubt in 1864 the enormous grants of free land made by Congress did not appear especially attractive to the man who had money to invest.

The Pennsylvania was the first American railroad to lay steel rails and the first to lay Bessemer rails; it was the first to put the steel fire-box under the locomotive boiler; it was the first to use the air brake and the block signal system; it was the first to use in its shops the overhead crane.

The remarkable character of this achievement is evident in view of the fact that in the period from 1893 to 1898 more than sixty-five per cent of all the railroad mileage in the United States went into the hands of receivers.

Under the Thomson management, which lasted until 1874, the record of the Pennsylvania Railroad was one of progress in every sense of the word.

The railroad is sprung from the application of two fundamental ideas - one the use of a mechanical means of developing speed, the other the use of a smooth running surface to diminish friction.

Since the through line from Philadelphia to Pittsburgh was opened, not a single year has passed without the payment of a dividend--a sixty-year record which can be duplicated by no other American railroad system.

On July 18, 1858, the first through train passed over the entire line from Philadelphia via Mount Joy to Pittsburgh without transfer of passengers. At the same time the first smoking car ever attached to a passenger train was used, and sleeping cars also soon began to appear.

In the decade before the Civil War various north and south lines of railway were projected and some of these were assisted by grants of land from the Federal Government.

The idea of connecting the waters of the Chesapeake with those of the Ohio had been broached by George Washington before the Revolution, and he had also prophesied the union of the Hudson and Lake Erie by canal.

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

Quotations 51 to 60 of 99
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