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RARE TYPE OF BANGOR AND AROOSTOOK RAILROAD STOCK CERTIFCATE
ISSUED AND SIGNED TO CHARLES SANGER MELLEN
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Charles Sanger Mellen(August 16, 1852– November 17, 1927) was an American railroad man whose career culminated in the presidencies of theNorthern Pacific Railway(1897–1903) and theNew York, New Haven and Hartford Railroad(1903–1913). His goal, along with the New Haven\'s financier J. P. Morgan, was to consolidate, electrify and modernize all the main railroads of New England, so as to lower competition and produce higher profits. The result of his abrasive tactics alienated public opinion, led to high prices for acquisitions and costly construction; the accident rate soared when efforts were made to save on maintenance costs. Debt soared from $14 million in 1903 to $242 million in 1913, when it was hit by an antitrust lawsuit by the federal government on the charge of monopolizing New England\'s rail traffic.[1][2]He was called, \"The last of the railway czars.\"[3]
