History
The first formal meeting of the directors was held at the Omaha National Bank on May 1, 1867. In the years following the founding of the company through the mid-1870s a boon period presided in Omaha, bringing the foundation of several businesses important to the city's growth, including the Horse Railway. The city expanded from 12 square miles (31 km2) to 24 within 15 years, and the Horse Railway struggled to keep up with it. The company switched from horses to mules and painted their cars yellow in an attempt to strengthen their image. By the late 1870s the line had 18 miles (29 km) of track, 10 cars, 70 horses, 20 employees and 495,000 passengers annually. After the company hit hard times in the mid to late 1870s, William W. Marsh purchased a controlling interest in the company from A.J. Hanscom. His purchase was effective January 1, 1879.
In 1887 the Omaha Cable Tramway Company was founded, leaving the Horse Railway with a competitor. The companies merged in 1889. In 1888 the Horse Railway Company took the Cable Tramway Company and the City of Omaha to court on the grounds they violated the Horse Railway's exclusive 50-year franchise alloted to them by the Territorial Legislature. The City of Omaha held a public vote that gave the Cable Tramway the ability to compete, in violation of the Legislature's act. The courts found for the Cable Tramway Company, allowing them to share the streets; however, they did order the Cable Tramway Company repay the Horse Railway for losses due to intrusion upon that company's lines. The case was exceptional because the courts ruled that the exclusivity clause granted the rights to the company operating horse railways, not cable cars. This interpretation allowed for competition in a formerly monopolized market, and was credited with changing the economic landscape of American public transportation thereafter.
By 1902 the company that was formed became the Omaha and Council Bluffs Railway and Bridge Company, after the consolidation of several competitors in the previous 20 years.
Read more about this topic: Omaha Horse Railway
Famous quotes containing the word history:
“There has never been in history another such culture as the Western civilization M a culture which has practiced the belief that the physical and social environment of man is subject to rational manipulation and that history is subject to the will and action of man; whereas central to the traditional cultures of the rivals of Western civilization, those of Africa and Asia, is a belief that it is environment that dominates man.”
—Ishmael Reed (b. 1938)
“Literary works cannot be taken over like factories, or literary forms of expression like industrial methods. Realist writing, of which history offers many widely varying examples, is likewise conditioned by the question of how, when and for what class it is made use of.”
—Bertolt Brecht (1898–1956)
“A poet’s object is not to tell what actually happened but what could or would happen either probably or inevitably.... For this reason poetry is something more scientific and serious than history, because poetry tends to give general truths while history gives particular facts.”
—Aristotle (384–323 B.C.)