Question

As part of a scheme to fleece Vanderbilt, the ___ secretly authorized the issue of ten million new shares of Erie stock while Vanderbilt was busy buying up shares to gain control of the Erie Railroad.

Answer 1

Jay Gould issued ten million new shares of Erie stock in a scheme to prevent Vanderbilt from gaining control of the Erie Railroad.

Step-by-step explanation:

As part of a scheme to fleece Vanderbilt, Jay Gould and his associates secretly authorized the issue of ten million new shares of Erie stock while Vanderbilt was busy buying up shares to gain control of the Erie Railroad. The manipulative practices of railroad magnates like Gould were part of the reason they were often referred to as "robber barons." They engaged in highly questionable tactics to protect their financial interests and maintain control over their railroad empires, often at the expense of other investors and the public interest. This era saw significant industrial contributions and consolidation in the railroad industry, led by figures like Commodore Cornelius Vanderbilt, who worked to expand their reach and efficiency of rail transportation across the United States.