Railroadicus Terminus and the Waterfront Switcheroo
The Transcontinental Railroad terminates in Oakland in 1869!!
This was huge. The East connected to the West. Trade and the exchange of information between the coasts now took days instead of weeks or months. There were awesome celebrations in Oakland.
With the railroads arrival, (the most powerful corporations of the time) Horace Carpentier was on top of the world. This was what he'd been working towards.
Carpentier sold Oakland's waterfront to The Central Pacific Railroad in 1868. He didn't share how much they gave him. This deal was framed as ‘The Great Compromise’, but it quickly became known as the 'Fool's Day Ordinance'. The transfer of ownership, for a moment, made it seem like Oakland got it’s waterfront back. Not so much. The Central Pacific Railroad definitely owned it, and the new Oakland Waterfront Company would control it. And guess who The Oakland Waterfront Company would be controlled by--Mr. Carpentier!! WOW!
All in one, he legitimized his original acquisition, sold it, and retained control of it. So cunning!
The Transcontinental Railroad terminates in Oakland in 1869!!
This was huge. The East connected to the West. Trade and the exchange of information between the coasts now took days instead of weeks or months. There were awesome celebrations in Oakland.
With the railroads arrival, (the most powerful corporations of the time) Horace Carpentier was on top of the world. This was what he'd been working towards.
Carpentier sold Oakland's waterfront to The Central Pacific Railroad in 1868. He didn't share how much they gave him. This deal was framed as ‘The Great Compromise’, but it quickly became known as the 'Fool's Day Ordinance'. The transfer of ownership, for a moment, made it seem like Oakland got it’s waterfront back. Not so much. The Central Pacific Railroad definitely owned it, and the new Oakland Waterfront Company would control it. And guess who The Oakland Waterfront Company would be controlled by--Mr. Carpentier!! WOW!
All in one, he legitimized his original acquisition, sold it, and retained control of it. So cunning!