Competitors Bought Off
In 1862, river transport concerns not involved with the Oregon Steam Navigation Company formed the People's Transportation Company. The new competitor put the E.D. Baker on the lower Columbia, the Iris on the middle, and the Kiyus on the upper Cascades. These boats posed serious competition to the monopoly, so much so that in about 1864, the Oregon Steam Navigation Company paid its rival $10,000 a year to confine its operations to the Willamette River. Oregon Steam Navigation Company also picked up People's Transportation's boats Iris and Kiyus, in exchange for three OSN boats on the Willamette River, Onward, Rival, and Surprise.
Read more about this topic: Oregon Steam Navigation Company
Famous quotes containing the word bought:
“It is not quite safe to send out a venture in this kind, unless yourself go supercargo. Where a man goes, there he is; but the slightest virtue is immovable,—it is real estate, not personal; who would keep it, must consent to be bought and sold with it.”
—Henry David Thoreau (1817–1862)