which private company was likened to an octopus in a famous cartoon, due to its monopolistic control over all major aspects of economic life in early california including banking, overland and overseas shipping, postal services, lumber, telegraph services, other wholesale industries, and of course, politics?

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27-10-2022
Business

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which private company was likened to an octopus in a famous cartoon, due to its monopolistic control over all major aspects of economic life in early california including banking, overland and overseas shipping, postal services, lumber, telegraph services, other wholesale industries, and of course, politics?

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Qwclear Qwclear · Answer 1 · 2022-11-01T03:00:51-04:00

The Southern Pacific Railroad was the private organization which was seen as an octopus due to its monopolized policies and other major services in California.

The Southern Pacific Transportation Company was acquired in 1996 by the Union Pacific Corporation and merged with their Union Pacific Railroad. It was under the ownership of THE BIG FOUR of western railway building and construction. It became a major player in all the aspects of life because it served 35 international entry points and thus had huge influence on trade and revenues. It is evident that those who have power can widely influence the political system and so the SPR served as a major power accumulator.

Learn more about Southern pacific at:

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