Charles Morgan (businessman)
Encyclopedia
Charles Morgan was a U.S. railroad
and shipping
magnate
. Morgan played a leading role in the development of transportation and commerce in the Southern United States through the mid-to-late 19th century.
. At the age of 14 he began working at his uncle's store, and later launched his own import business. As his business grew he invested in a steamship line which traded in the West Indies. By the 1850s Morgan was engaged in the steamship business on a full-time basis. He later began constructing his own ships, and was one of the first ship builders to switch from wood to iron construction.
In the 1850s the New Orleans, Opelousas and Great Western Railroad
( N.O.O. & G.W.R.R. ) began construction in New Orleans. Since New Orleans was a major port for Morgan's steamship company, he saw this new railroad as an opportunity to move his goods to Texas. He invested $2,050,000 in the railroad. During the Civil War much of the railroad's equipment was commandeered by the Confederate forces. Due to economic problems the railroad was sold after the war, and Morgan purchased the entire assets. He later renamed it the Morgan's Louisiana and Texas Railroad and Steamship Company ( see Texas and New Orleans Railroad
).
The expansion of the railroad continued westward, reaching Lafayette by 1879. Unfortunately, Morgan died a few weeks before the railroad reached the city. The company continued to operate under the goals that he established, and it was finally acquired by Southern Pacific Railroad in 1885.
It was Morgan & Garrison, the business partnership of Charles Morgan and C.K. Garrison
, who were the recipients of the brief and now very famous letter: "Gentlemen: You have undertaken to cheat me. I won't sue you, for the law is too slow. I'll ruin you. Yours truly, Cornelius Vanderbilt." http://www.vanderbilt.edu/News/register/Mar11_02/story8.html http://www.stfrancis.edu/ba/ghkickul/stuwebs/bbios/biograph/vanderbi.htm
The Morgan School in Clinton, Connecticut is named after Charles Morgan. Morgan City, Louisiana
, is also named in his honor.
Rail transport
Rail transport is a means of conveyance of passengers and goods by way of wheeled vehicles running on rail tracks. In contrast to road transport, where vehicles merely run on a prepared surface, rail vehicles are also directionally guided by the tracks they run on...
and shipping
Shipping
Shipping has multiple meanings. It can be a physical process of transporting commodities and merchandise goods and cargo, by land, air, and sea. It also can describe the movement of objects by ship.Land or "ground" shipping can be by train or by truck...
magnate
Business magnate
A business magnate, sometimes referred to as a capitalist, czar, mogul, tycoon, baron, oligarch, or industrialist, is an informal term used to refer to an entrepreneur who has reached prominence and derived a notable amount of wealth from a particular industry .-Etymology:The word magnate itself...
. Morgan played a leading role in the development of transportation and commerce in the Southern United States through the mid-to-late 19th century.
Career
Charles Morgan was born in Clinton, ConnecticutClinton, Connecticut
Clinton is a town located on Long Island Sound in Middlesex County, Connecticut, United States. The population was 13,094 at the 2000 census. The town center along the shore line was listed as a census-designated place by the U.S...
. At the age of 14 he began working at his uncle's store, and later launched his own import business. As his business grew he invested in a steamship line which traded in the West Indies. By the 1850s Morgan was engaged in the steamship business on a full-time basis. He later began constructing his own ships, and was one of the first ship builders to switch from wood to iron construction.
In the 1850s the New Orleans, Opelousas and Great Western Railroad
New Orleans, Opelousas and Great Western Railroad
The New Orleans, Opelousas and Great Western Railroad was chartered in 1852. Construction began at Algiers, across the Mississippi River from New Orleans, in late 1852. By 1857, the track had reached Brashear on Berwick Bay, and this remained the end of the line for over 20 years...
( N.O.O. & G.W.R.R. ) began construction in New Orleans. Since New Orleans was a major port for Morgan's steamship company, he saw this new railroad as an opportunity to move his goods to Texas. He invested $2,050,000 in the railroad. During the Civil War much of the railroad's equipment was commandeered by the Confederate forces. Due to economic problems the railroad was sold after the war, and Morgan purchased the entire assets. He later renamed it the Morgan's Louisiana and Texas Railroad and Steamship Company ( see Texas and New Orleans Railroad
Texas and New Orleans Railroad
The Texas and New Orleans Railroad is a former railroad in Texas and Louisiana. At one point the company was the largest railroad in Texas, with of trackage in 1934, but by 1961 there were only remaining when it was merged with parent company Southern Pacific....
).
The expansion of the railroad continued westward, reaching Lafayette by 1879. Unfortunately, Morgan died a few weeks before the railroad reached the city. The company continued to operate under the goals that he established, and it was finally acquired by Southern Pacific Railroad in 1885.
It was Morgan & Garrison, the business partnership of Charles Morgan and C.K. Garrison
Cornelius Kingsland Garrison
Cornelius Kingsland Garrison was a shipbuilder, capitalist, and the fifth Mayor of San Francisco . He was born in Fort Montgomery, near West Point, New York...
, who were the recipients of the brief and now very famous letter: "Gentlemen: You have undertaken to cheat me. I won't sue you, for the law is too slow. I'll ruin you. Yours truly, Cornelius Vanderbilt." http://www.vanderbilt.edu/News/register/Mar11_02/story8.html http://www.stfrancis.edu/ba/ghkickul/stuwebs/bbios/biograph/vanderbi.htm
The Morgan School in Clinton, Connecticut is named after Charles Morgan. Morgan City, Louisiana
Morgan City, Louisiana
Morgan City is a city in St. Martin and St. Mary parishes in the U.S. state of Louisiana. The population was 12,404 at the 2010 census....
, is also named in his honor.