History: Rail Transportation In The United States

Totals - 9,021 - 30,626 - 52,914 - 93,301 - 129,774
- Monopolies, anti-trust law, and regulation
Industrialists such as Cornelius Vanderbilt and Jay Gould became wealthy through railroad ownerships, as large railroad companies such as the New York Central, Grand Trunk Railway and the Southern Pacific spanned several states. In response to monopolistic practices (such as price fixing) and other excesses of some railroads and their owners, Congress created the Interstate Commerce Commission (ICC) in 1887. The ICC indirectly controlled the business activities of the railroads through issuance of extensive regulations. Congress also enacted antitrust legislation to prevent railroad monopolies, beginning with the Sherman Antitrust Act in 1890.