Rail “King” Dies in Own Express

Taranaki Central Press, Volume IV, Issue 368, 24 February 1937, Page 3

Rail “King” Dies in Own Express

IWBN, 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—lie had amassed a £20,000,000 fortune. “Old 0.P., ” as he was called, was one of the world’s biggest business men. I But because he hated publicity his name was almost unknown, oven in blown country. All his life he lived with his brother’ and sisters on a farm near Cleveland “the happiest family in al! Ohio.” i 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, “0 P.” bought the Nickel Plato Railway, a moribund line, that cost him £1,700,000. Twenty years later, the brothers controlled nearly 30,000 miles of U.S. railroad, with an annual income ot £6,000,000 (says 8.U.P.). And that was just part of tbeir 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 Swcringens) 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 that started them on their way back to prosperity «gain. But soon came tragedy. Mantis died in December, 1935. “O. P.” never quite recovered from the loss of his life-companion. Death in the train came without warning. Those who best knew “O P. ” say that, had he been given the choice, he would have had it so.