With the departures of Sage, Merrill and Mitchell, control
of the company began to pass to a new group, headed by the
Rockefeller-Standard Oil interests. In 1881, William Rockefeller joined
the board of directors, with some associates. In the mid-1880’s, the
Armour meat packing interests began to be represented on the board by
Philip Armour. The Rockefeller and Armour interests were to be dominant
until into the 20th Century.
Even with this ownership, the Milwaukee managed to keep
to itself and to keep growing during the era when huge corporations were
being formed and consolidated, and when great western railway systems were
being built.
However, it couldn’t keep to itself through the whole
period. In the late 1890’s, a fight developed. On one side were J. P.
Morgan, the famous financier, and his ally, James Hill, who built the
Great Northern and later also controlled the Northern Pacific. On the
other side were E. H. Harriman, who controlled the Union Pacific, and his
allies from the Rockefeller—Standard Oil interests. The Milwaukee was in
the middle for a time, since the fight was by the Harriman group to keep
Morgan/Hill out of Chicago—in fact, at one point Morgan offered to buy the
Milwaukee. The battle ended when Morgan/Hill got control of the
Burlington, and thereby entered Chicago. |
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The 1890's
The Rockefeller years...
...and the battle of titans |
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