Rail “King” Dies in Own Express

Manawatu Times, Volume 62, Issue 23, 28 January 1937, Page 3

Rail “King” Dies in Own Express

BORN, AND LIVED ALL HIS LIFE, ON OHIO FARM America’s "railroad king” died in one of his own New York-bound expresses recently. He was Orin Paxton van Sweringen, son of an Ohio smallholder. At his death —aged only 57—he hac. amassed a £20,000,000 fortune. "Old O.P.,’’ as he was called, was ono of the world’s Mggest business men. But because he bated publicity his name was almost unknown, even in hi** own country. All his life he lived with his brother and sisters on a farm near Cleveland—"the happiest family in ail Ohio." When young Orin first left home his primary interest was estate development.

With his young brother Mantis, ho decided to develop a Cleveland suburb. Realising that rail services were necessary, “O P.’’ bought tho Nickel Plate Railway, a moribund line, that cost him £2,700,000.

Twenty years later the brothers controlled nearly 30,000 miles of U.S. railroad, with an annual income of £6,000,000 (says 8.U.P.). And that was just part of their holdings. They controlled coal mines, tramways, shops, hotels, construction companies, warehouses and road transport firms.

Yet from their simple farm estate they rode to their office in the same car every day, enjoyed the same hobbies, walking and riding. Their "empire" kept expanding until 1929. Then came trouble.

During the early years of the dpression the brothers borrowed nearly £10,000,000 from a syndicate of banks, headed by J. P. Morgan and Co. Finally, the house of Morgan announced that the Collateral (rail property of the Van Sweringens) would be sold at auction.

Quickly the brothers formed the Mid America Corporation. Through this they regained control of their railways by bidding £624,000 for the majority of the stocks in the chief holding company, the Alleghany Corporation. This was a triumph 5 that started them on their way back to prosperity again. But soon came tragedy. Mantis died in December, 1935. "O. P.” never quite recovered from the loss of his life-companion. Death in tho train came without warning. Those who best knew "O P. ” say that, had he been given the choice, he would have had it so.