E. H. Harriman
Financier and railroad executive who rebuilt bankrupt lines.
- field
- Financier and railroad executive
- nationality
- American
- known_for
- Rebuilding bankrupt railroads; controlling Union Pacific, Southern Pacific, and
Lore & Background
Harriman was born in Hempstead, New York, the son of an Episcopal clergyman. Elder. Averell Harriman.
Reader's Guide
Edward H. His methods created a unified transportation network that influenced rail operations for decades. His legacy includes the E. H. His family dynasty continued through his son W. Averell Harriman, who became a prominent political figure.
Did You Know?
- Harriman quit school at age 14 to work as an errand boy on Wall Street and became a member of the New York Stock Exchange by age 22.
- In 1899, Harriman sponsored and accompanied a scientific expedition to catalog the flora and fauna of the Alaska coastline aboard the steamer SS George W. Elder.
- James Stillman of National City Bank called Harriman 'not a safe man to do business with,' yet the Illinois Central under Harriman was considered one of the best-run and most profitable railroads.
Frequently Asked Questions
Who is E. H. Harriman?
Edward Henry Harriman was an American financier and railroad executive best known for resurrecting bankrupt rail lines and assembling a vast transportation empire. He is widely regarded as the founding figure of the Harriman business dynasty.
How did E. H. Harriman start his career?
He entered the world of finance as a young errand boy on Wall Street at just fourteen years old. By the time he was twenty-two, he had already earned a seat on the New York Stock Exchange.
Which railroads did E. H. Harriman rebuild or control?
His most celebrated achievements involved turning around the Union Pacific and Southern Pacific systems after they had gone bankrupt. At the time of his death, his holdings also included several other major rail lines and steamship companies.
When and where did E. H. Harriman die?
He passed away on September 9, 1909, at his estate known as Arden, at the age of sixty-one.
Why is E. H. Harriman considered important in business history?
He demonstrated that a single financier could reshape entire transportation networks by acquiring and restructuring failed railroads. His legacy endured through the Harriman dynasty he established, which continued to influence American industry well after his death.
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