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Illegal manipulations were made in the construction of the transcontinental railroad.
acheiving monopoly in hauling freight along their railroad's tracks
The scandal which took place for eight (8) years beginning in 1864 and coming to light in 1872 involved the Union Pacific Railroad (UPR) and the Credit Mobilier of America (CMA) company. Stock and cash bribes were paid to congressmen in order to overlook that the same owners of the UPR and CMA were constructing the railroad falsely representing the "independent" nature of UPR selecting the construction company for the building of the first Transcontinental Railroad. In essence, CMA and UPR conspired to charge the government far more than the cost to build the railroad in order to keep the profits to themselves.
The Credit Mobilier scandal involved the Credit Mobilier Company and the Union Pacific Railroad. Both were chartered in 1864. In 1868, Congressman Oakes Ames distributed shares of Credit Mobilier stock, as well as made cash bribes to other congressmen. The Sun, a New York newspaper, broke the story of the scandal during the 1872 presidential campaign of Ulysses Grant.
A fake company set up by a railroad to make more money - APEX
Credit Mobilier
union pacific
a fake company set up by a railroad to make more money.
Illegal manipulations were made in the construction of the transcontinental railroad.
Crédit Mobilier
A credit mobilier is a construction company set up by several stockholders of the Union Pacific
Union Pacific Railroad in 1864, vice president Shuyler Colfax, and congressman James Garfield involved in Credit Mobilier.
Construction of the First Transcontinental Railroad.
Known as the Credit Mobilier Scandal, this involved the Union Pacific railroad.
Known as the Credit Mobilier Scandal, this involved the Union Pacific railroad.
Credit Mobilier Scandal
Credit mobilier.