[Maine] The Electric Corporation Signed by Charles Francis Adams II, 1909
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C000575
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The Electric Corporation, $100, 7% Gold Debenture. Signed by Charles Francis Adams Jr. as President. 1909. ABNC. Excellent.
Charles Francis Adams Jr. (1835 –1915) was a member of the prominent Adams family, and son of Charles Francis Adams Sr. He served as a colonel in the Union Army during the American Civil War. After the war, he was a railroad regulator and executive, an author of historical works, and a member of the Massachusetts Park Commission.
Adams was born into a family with a long legacy in American public life. He was the great-grandson of United States President John Adams, and the grandson of president John Quincy Adams. His father Charles Francis Adams Sr. was a lawyer, politician, diplomat, and writer.
Congress distrusted the Union Pacific Railroad (UP) and in 1884 forced it to hire Adams as the new president. Adams had long promoted various reform ideas, as in his book Railroads, Their Origin and Problems (1878), but he had little practical experience in management. As railroad president, he was successful in getting a good press for the UP, and set up libraries along the route to allow his employees to better themselves. He had poor results dealing with the Knights of Larborr labor union. When the Knights of Labor refused extra work in Wyoming in 1885, Adams hired Chinese workers. The result was the Rock Srings massacre, that killed scores of Chinese, and drove all the rest out of Wyoming. He tried to build a complex network of alliances with other businesses, but they provided little help to the UP. He had great difficulty in making decisions, and in coordinating his subordinates. Adams was unable to stanch the worsening financial condition of the UP, and in 1890 the railroad's owner Jay Gould forced his resignation.
Charles Francis Adams Jr. (1835 –1915) was a member of the prominent Adams family, and son of Charles Francis Adams Sr. He served as a colonel in the Union Army during the American Civil War. After the war, he was a railroad regulator and executive, an author of historical works, and a member of the Massachusetts Park Commission.
Adams was born into a family with a long legacy in American public life. He was the great-grandson of United States President John Adams, and the grandson of president John Quincy Adams. His father Charles Francis Adams Sr. was a lawyer, politician, diplomat, and writer.
Congress distrusted the Union Pacific Railroad (UP) and in 1884 forced it to hire Adams as the new president. Adams had long promoted various reform ideas, as in his book Railroads, Their Origin and Problems (1878), but he had little practical experience in management. As railroad president, he was successful in getting a good press for the UP, and set up libraries along the route to allow his employees to better themselves. He had poor results dealing with the Knights of Larborr labor union. When the Knights of Labor refused extra work in Wyoming in 1885, Adams hired Chinese workers. The result was the Rock Srings massacre, that killed scores of Chinese, and drove all the rest out of Wyoming. He tried to build a complex network of alliances with other businesses, but they provided little help to the UP. He had great difficulty in making decisions, and in coordinating his subordinates. Adams was unable to stanch the worsening financial condition of the UP, and in 1890 the railroad's owner Jay Gould forced his resignation.
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