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Article: Spanning the Century: The Life of W. Averell Harriman, 1891-1986.
- Article from:
- The New Leader
- Article date:
- August 10, 1992
- Author:
CopyrightCOPYRIGHT 1992 American Labor Conference on International Affairs. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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W. AVERELL HARIUMAN, though born to greaton of a self-made man. In 1862, at the age of 14, an left school and entered a brokerage as an office boy. Within eight years he owned his own seat on the exchange. E.H. was more than a mere speculator--he revived several companies through active management--but he was a speculator of genius. During the 1880s he took over the Illinois Central Railroad. In 1890 he began hoarding its profits, anticipating the panic of '93. When it duly came, he used these resources and funds raised by Jacob Schiff to take control of the bankrupt Union Pacific Railroad. E.H. died in 1909, shortly before Averell turned 18. He left a fortune worth $70 ...