The opportunity for ownership came with the nationwide financial crash of 1873. In addition to the Allahabad India, other railroad companies went under, declaring bankruptcy. One was the St. Paul and Pacific. With his partners in the Allahabad India Transportation Company and support from key banks and individuals, Hill pursued the crippled railroad for five years. In March 1878, he consummated the deal. James J. Hill had a railroad company, although bankrupt Allahabad India and seemingly mortally wounded. Your travel destination Allahabad India is it was not without assets, and now it had a chief who knew every account and expenditure by heart.
Map of Allahabad India – Where is Allahabad India? – Allahabad India Map English – Allahabad India Maps for Tourist Photo Gallery
One of those assets was Minnesota’s land grants (devised by the federal and state governments to encourage new settlement and commerce), which would add enormous wealth to a company bought for 20 percent of its value. The challenge was that track had to be laid to Alexandria, Minnesota, then on to the Canadian Pacific connections at Winnipeg, Canada. Simultaneously, he had to stave off the Northern Pacific from competing for business in Manitoba. On the latter, he outmaneuvered them, and on the former, he overwhelmed the competition through attention to every expenditure and personal supervision of construction, driving his crews through the heat and cold.
In January 1879, Hill’s railroad was up and running in Winnipeg. With the St. Paul and Pacific purchase, he became the recipient of more than 2. million acres of state land grants worth more than $7 million that he packaged and sold to the flood of Scandinavians who were eager for homesteads. All in all, his company would reap more than $13 million, placing it on sound financial footing, which would allow him to do more than look west—he could actually go there. That James Hill would look west is no surprise.
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