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James J. Hill
James Jerome
Hill, a Canadian-American railroad executive and the greatest pioneer in the
field of transcontinental railroads, was a visionary who transcended the dreams
of a common man and went on to become ‘The Empire Builder.’ It was his
relentless hard work and business prowess that led to further railroad
development in Northwest America. Born into an impoverished family, he reshaped
his own destiny with sheer dedication and foresight. Connecting junctions almost
all over North America, it is to his merit that trade and occupations saw a
leap in U.S.A. Holding on to his vivid ambition, he climbed up to the helm of
America’s transportation business from being the son of a hired peasant. In an
interview during his last few years, he was questioned on what led him to rule
the railway empire, to which he diligently replied, “Work, hard work,
intelligent work, and then more work.” Certainly, nothing came easy for him; he
overcame the toughest challenges life could fling at him and yet went on to
establish the ‘Great Northern Railroad.’ His life is the perfect example of a
journey from obscurity to fame.
Childhood & Early Life
·
On 16 September 1838, James J. Hill was born to Anne Dunbar Hill
and James Hill. His father was a hired farmer, who received employment
occasionally at Ontario in Canada.
·
As a child he encountered a serious accident, where he was
struck by an arrow in his right eye that blinded his eye forever. This incident
however did not cause much hindrance in his future career.
·
At nine, he started receiving formal education.His father could
not afford to pay his school fees, but a benevolent head master at the
‘Rockwood Academy’ let him receive free education.
·
It was there that he studied algebra, mathematics, geometry,
land surveying and English. Thus, the knowledge he amassed in the academy was
put to use in order to establish his business later in life.
·
He may have considered himself fortunate to receive good
education, but destiny spat misfortune his way, when his father passed away.
James Hill was only fourteen years old when this demise occurred.
·
After his father’s death, his mother found it difficult to
provide for her children by the means of only running a small inn. Hence, Hill
left school in 1852, and began working at a grocery store to aid in supporting
his family.
Initial Climb to Entrepreneurship
·
In 1856 at seventeen, James Hill found work as a clerk in
Minnesota, for a firm of shipping agents who traded and worked with steamboats.
The skill of book-keeping he had acquired as a clerk at Kentucky, before moving
to Minnesota helped augment his knowledge and had landed him this job.
·
In 1860 he was already managing cargo transfers by railway and
steamboats for wholesale grocers. He observed and learnt and came up with
shrewd ideas. He gradually began working for himself.
·
It was in the season of winter that the Mississippi River froze
and trading via steamboats was hindered. Thus, with his experience in cargo
business he began bidding for other contracts and won quite a few.
·
He tactfully entered the coal business during the time of the
Civil War in 1867, where he supplied coal instead of wood, which was undergoing
heavy shortage. This business brought good profit in five folds by 1879,
consolidating his monopoly in the anthracite coal industry.
·
In 1870 he partnered with a few acquaintances and began his own
‘Red River Transportation Company’, which offered steamboat freight shipping
between St. Paul and Winnipeg.
·
He also partnered with several banks and became a member of the
board of directors in several of them. He bought out plenty of bankrupt
businesses during this time, reformed them and sold them off at great profit.
Purchase of St. Paul and Pacific Railroad
·
It was only in the 1870s that the possibility of a railway
system through the Red River Valley dawned on him. He realised the colossal
development and opportunities it would bring to the northwest region.
·
During the Panic of 1873, ‘St. Paul and Pacific Railroad’
encountered huge losses and was bankrupt. Seizing this opportunity, he
collaborated with Norman Kittson, Donald Smith, George Stephen and John Stewart
Kennedy, and bought off ‘St. Paul and Pacific Railroad.
·
With his astute judgments and haggling skills, he managed to
recover it from bankruptcy and even expanded the rails. He was soon made the
General Manager of the newly formed St. Paul, Minneapolis, and Manitoba Railway
Co.
·
Hill recruited hundreds of immigrants and developed mini
homesteads in Dakota and Montana that helped in building markets; he used the
railways as a means of commuting immigrants from one place to another. The net
worth of the company jumped from $728,000 in 1880 to $25,000,000 in 1885.
·
He knew that the multiplying profits would soon find its way
under the Federal Government’s scanner, and so he used his profits wisely. He
invested a considerable amount of profit back into the business, further
expanding and upgrading the business, earning his position as president of the
company.
·
At the peak of his success he met with the disapproval of
President Theodore Roosevelt for his railway monopoly. His massive success
kindled envy in many people as his story was a real-life rags-to-riches fairy
tale. His discernment and flexibility at the time of grave financial losses
were tremendous. He was the only businessman to make a hefty profit even during
the time of depression.
Major Works
·
What was initially considered “Hill’s folly” by many turned into
his biggest success. During the late 1880s,he aimed to build a rail route
through the Rockies to the Pacific. The task seemed impossible without
government land grants.
·
Yet, he was adamant to build the straightest route, with the
shortest distance across the Northwest. In 1889 John F. Stevens, the lead
engineer of his company, found the ‘Marias Pass’, which was the lowest crossing
region of the Rocky Mountain.
·
The following year James J. Hill built a rail along the ‘Marian
Pass’ without constructing a tunnel and altered the name of the company from
‘St. Paul and Pacific Railroad’ to the ‘Great Northern Railway Company’.
·
He was eyed as a great competitor by the successful and dominant
E.H Harriman, who owned ‘Union Pacific Railway’. Both opponents wanted the
Chicago, Burlington and Quincy railroads to add to their flourishing
businesses. Then Harriman quickly began buying stock in Northern Pacific with
the aim of eventually gaining control over it.
·
Therefore, Hill turned to his confidant and esteemed financer
J.P Morgan. Now both Morgan and Hill started rampantly buying shares of
Northern Pacific causing the stock market at Wall Street to come unbound.
·
A truce had to be called between the warring teams following
which Hill and Morgan joined hands to stabilise the share market. The duo
acquired the three rails and formed the ‘Northern Securities Company.
·
These events led him to be acclaimed as a headstrong businessman
who had overcome the ‘Panic of 1893’ and stood like a pillar through America’s
financial turmoil.
Personal Life & Legacy
·
He fell in love with a waitress, Mary Theresa Mehegan, at
Merchant’sHOTEL
, where he
often dined. She was the daughter of an Irish immigrant and was a pious
catholic. She received education at St. Mary’s Institute of Notre Dame.
·
The couple tied the knot in 1867, their marriage brought ten
children into the world, of which one (Katherine) died in infancy. The rest of
their children were – Mary, James, Lewis, Clara, Charlotte, Ruth, Rachel,
Gertrude and Walter.
·
Hill was known to be blunt with occasional humour. He loved
reading and also took to poetry. He was quick witted and had an animated way of
speaking. It is also true that he used to survey the areas where rails were to
be laid himself on horseback.
·
In 1907 he made his son the owner of his business, yet his grit
and determination led him to work daily, until just a week before he died.
·
As years passed he gradually became more philanthropic, he
donated millions to the diseased and downtrodden, and especially extended
financial aid to the victims of the ‘Titanic’ tragedy.
·
As Hill started getting older, he suffered from several painful
ailments. Even with treatment from the best of doctors, he found no relief. His
pains turned unbearable and his health deteriorated.
·
He died on 29 May1916 and his body was buried at ‘North Oaks
Farm’ but on account of vandalism his coffin was moved to ‘Resurrection
Cemetery’ in St. Paul, where his grave was guarded.
·
Today Hill’s house has been preserved as a museum. Though a
protestant by faith he made generous donations to St. Paul Seminary. He also
contributed to the establishment of ‘Marquette University School of Medicine.
·
In honour of his legacy, his heirs founded the James J. Hill
Reference Library, which provides practical business information to businesses
in the entire nation.
Trivia
·
Hillwas acknowledged for his discreet business skills but he
also had a deep regard for art. He had a massive collection of French landscape
paintings whichspanned two floors of his ‘Summit Avenue’ mansion.
Guruji. A. Sivaguru Swamy
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Skype – sivaguruswamy29
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Naagai Dist, Tamilnadu–609 117
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