rt upheld the lease and ensured ownership over the company to Morgan, Ramsey and the original owners. It was an astonishing victory for Morgan and one that set precedence for his future dealings. The true beginning of the "Age of Morganization" was his deal with William H. Vanderbilt. The legislature, at the time, began to propose control of railroad management, prevent stock watering, and tax profits. Vanderbilt inherited eighty seven percent of the stock of the New York Central Railroad. He made a secret agreement with Morgan to sell 250,000 shares of his stock to English investors. Vanderbilt also agreed to combine the Central railroad with the Wabash, St. Louis & Pacific Railroad. When the news broke out about the deal, Morgan was praised as an economic genius and stepped out of his father's shadow. Pierpont also received a seat on the board of the New York Central. Morgan was achieving the influence he desired and had an appropriate venue to express the opinions of the English businessmen he dealt with oversees. As Morgan enjoyed his position on the board of the New York Central, he used his position to settle a dispute of railroad organization in 1885. New York Central was competing with Pennsylvania railroad for control over the West Shore line. The two companies were engaging in rate wars and for control over surrounding lines. A second offspring, the South Pennsylvania line, was built by the Central to compete with the Pennsylvania line. Morgan argued that is was senseless for Vanderbilt and Gould, the two leaders, to compete over the lines. J. P. suggested that the Pennsylvania should allow Central to buy the West Shore and Central should turn over control of the South Pennsylvania to the Pennsylvania owners. The two parties agreed and Morgan was again hailed as an industrial wizard. Mr. Morgan developed into the nation's railroad reorganizer. In 1886, the Philadelphia and Reading Railroad was in great difficulty with a defici...
