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What methods did the railroad barons used to drive smaller companies out of business?
Wiki User
∙ 11y ago
As the railroad network expanded, the railroad companies competed fiercely with one another to keep old customers and to win new ones. Large railroads offered secret discounts called rebates to their biggest customers. Smaller railroads that could not match these rebates were often forced out of business. The railroad barons also made secret agreements among themselves, known as pools. They divided the railway business among their companies and set rates for a region, a railroad could charge higher rates and earn greater profits.
Wiki User
∙ 11y ago
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