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Why was the fact that Vanderbilt owned the Albany bridge docHub?

Without access to the bridge, every other railroad would be effectively shut out of New York City. Vanderbilt, like many after him, realized that he owned a crucial strategic control point (i.e., a point wherein all rail traffic flowed between a crucial port in New York City and the rest of the country).

What is Cornelius Vanderbilt best known for?

Cornelius Vanderbilt, byname Commodore Vanderbilt, (born May 27, 1794, Port Richmond, Staten Island, New York, U.S.died January 4, 1877, New York, New York), American shipping and railroad magnate who acquired a personal fortune of more than $100 million.

Why did they call him the Commodore?

He began his business by ferrying freight and passengers on a ferry between Staten Island and Manhattan. Such was his energy and eagerness in his trade that other captains nearby took to calling him The Commodore in jesta nickname that stuck with him all his life.

What effect did Cornelius Vanderbilt have on transportation in the United States?

In the 1860s, he shifted his focus to the railroad industry, where he built another empire and helped make railroad transportation more efficient.

What was the name of the bridge that Vanderbilt ordered closed?

He orders his son to close Albany Bridge effectively blockading the millions of dollars of cargo of other rival railroads. Before their stocks become worthless, the rival rail road presidents try to sell their shares.

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What was Cornelius Vanderbilts nickname and why did he earn it?

After working as a steamship captain, Vanderbilt went into business for himself in the late 1820s, and eventually became one of the countrys largest steamship operators. In the process, the Commodore, as he was publicly nicknamed, gained a reputation for being fiercely competitive and ruthless.

Who was known as the Commodore?

CORNELIUS VANDERBILT (1794 -1877) WAS THE FOUNDER OF THE VANDERBILT FAMILY AND THE NEW YORK CENTRAL RAILROAD SYSTEM. HE WAS KNOWN AS THE COMMODORE, OR COMMODORE CORNELIUS VANDERBILT.

What was Cornelius Vanderbilts nickname and why did he earn it?

After working as a steamship captain, Vanderbilt went into business for himself in the late 1820s, and eventually became one of the countrys largest steamship operators. In the process, the Commodore, as he was publicly nicknamed, gained a reputation for being fiercely competitive and ruthless.

How did Vanderbilt profit from closing the Albany bridge?

What effect did closing the bridge have on the New York Central Railroad, and how did Vanderbilt profit from it? It drove their stock value into the ground. Vanderbilt bought the stock and gained control of the railroad.

What was the name of the bridge that Vanderbilt ordered closed?

He orders his son to close Albany Bridge effectively blockading the millions of dollars of cargo of other rival railroads. Before their stocks become worthless, the rival rail road presidents try to sell their shares.

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