Secrets of the Rails
Shocking facts, financial records, and anecdotes from the most famous railway of the 19th century.
Wall Street’s Highest Priced Stock
During its financial peak, Panama Canal Railway shares reached a value of $295.00 per share on the New York Stock Exchange, making it the most valued company of its time to investors.
World’s Most Expensive Ticket
Traveling in the 19th century wasn’t cheap. A first-class ticket cost $25.00 in gold for a 47.5-mile journey. This made it the most expensive railway in the world to travel, costing approximately $0.50 per mile.
A Fortune in California Gold
It is estimated that during the first 12 years of operation (1855-1867), the railway transported over $750,000,000 in gold (dust, nuggets, and coins). The company charged 1/4% of the value of each shipment.
The True First Transcontinental
Although US history celebrates the union of its coasts in 1869, Panama was 14 years ahead. The Panama Canal Railway completed the physical connection between the Atlantic and the Pacific on January 28, 1855.
The Cadaver Business
Construction was so deadly and funds so scarce that the company preserved the bodies of deceased workers in barrels with vinegar to sell to medical schools abroad, thus financing the railway hospital.
Disputa: Aspinwall vs. Colon
The Americans called the terminal city «Aspinwall» in honor of the founder. However, the Colombian government insisted on «Colon». The controversy lasted 38 years until the name Colon officially prevailed in 1890.
Record Cost per Mile
With a total construction cost of $8 million dollars for just 47.5 miles, it was considered the most expensive railway per mile built up to that time, requiring 5 years of uninterrupted work.