Note 7 — Chapter IX · THE MATHEMATICS OF A DREAM

Even as late as 1907, it was considered that eleven groups dominated the country, but this number was reduced by the amalgamation of the five railroad groups into a supreme combination of all the railroads. These five groups so amalgamated, along with their financial and political allies, were (1) James J. Hill with his control of the Northwest; (2) the Pennsylvania railway group, Schiff financial manager, with big banking firms of Philadelphia and New York; (3) Harriman, with Frick for counsel and Odell as political lieutenant, controlling the central continental, Southwestern and Southern Pacific Coast lines of transportation; (4) the Gould family railway interests; and (5) Moore, Reid, and Leeds, known as the “Rock Island crowd.” These strong oligarchs arose out of the conflict of competition and travelled the inevitable road toward combination.