Page "James J. Hill" Paragraph 6

During the Panic of 1873, a number of railroads, including the St. Paul and Pacific Railroad ( StP & P ), had gone bankrupt.

The StP & P in particular was caught in an almost hopeless legal muddle.

For James Hill it was a golden opportunity.

For three years, Hill researched the StP & P and finally concluded that it would be possible to make a good deal of money off of the StP & P, provided that the initial capital could be found.

Hill teamed up with Norman Kittson ( the man he had merged steamboat businesses with ), Donald Smith, George Stephen and John Stewart Kennedy.

Together they not only bought the railroad, they also vastly expanded it by bargaining for trackage rights with Northern Pacific Railway.

In May 1879, the St. Paul, Minneapolis, and Manitoba Railway Co. ( StPM & M ) formed — with James J. Hill as general manager.

His first goal was to expand and upgrade even more.