In 1901, the Northern Pacific was an unlikely prize: a twice-bankrupt construction of the federal government, it was a two-bit railroad (literally--five years back, its stock traded for twenty-five cents a share). But it was also a key to connecting eastern markets through Chicago to the rising West. Two titans of American railroads set their sights on it: James J. Hill, head of the Great Northern and largest individual shareholder of the Northern Pacific, and Edward Harriman, head of the Union Pacific and the Southern Pacific. The subsequent contest was unprecedented in the history of American enterprise, pitting not only Hill against Harriman but also Big Oil against Big Steel and J. P. Morgan against the Rockefellers, with a supporting cast of enough wealthy investors to fill the ballroom of the Waldorf Astoria.

The story, told here in full for the first time, transports us to the New York Stock Exchange during the unfolding of the earliest modern-day stock market panic. "Harriman vs. Hill "re-creates the drama of four tumultuous days in May 1901, when the common stock of the Northern Pacific rocketed from one hundred ten dollars a share to one thousand in a mere seventeen hours of trading--the result of an inadvertent "corner" caused by the opposing forces. Panic followed and then, in short order, a calamity for the "shorts," a compromise, the near-collapse of Wall Street brokerages and banks, the most precipitous decline ever in American stock values, and the fastest recovery. Larry Haeg brings to life the ensuing stalemate and truce, which led to the forming of a holding company, briefly the biggest railroad combine in American history, and the U.S. Supreme Court ruling against the deal, launching the reputation of Justice Oliver Wendell Holmes as the "great dissenter" and President Theodore Roosevelt as the "trust buster." The forces of competition and combination, unfettered growth, government regulation, and corporate ambition--all the elements of American business at its best and worst--come into play in the account of this epic battle, whose effects echo through our economy to this day.

In the closing decades of the nineteenth century Minnesota produced three young men of great talent who each went east to become writers. Two of them became famous: F. Scott Fitzgerald and Sinclair Lewis. This is the story of the third man: Charles Macomb Flandrau.

Flandrau, a model of style and worldly sophistication and destined, almost everyone agreed, for greatness, was among the most talented young writers of his generation. His short stories about Harvard in the 1890s were called OC the first realistic description of undergraduate life in American collegesOCO and sold out of the first printing in a few weeks. From 1899 to 1902 Flandrau was among the most popular contributors to the "Saturday Evening Post." Alexander Woollcott rated him the best essayist in America. And "Viva Mexico ," FlandrauOCOs account of life on a Mexican coffee plantation, is a classic, perhaps the best travel book ever written by an American. Yet Flandrau turned his back on it all. Financially independent, he chose a solitary, epicurean life in St. Paul, Mexico, Majorca, Paris, and Normandy. In later years, he confined his writing to local newspaper pieces and letters to his small circle of family and friends.

Using excerpts from these newspaper columns and unpublished letters, Larry Haeg has painstakingly recreated the story of this urbane, talented, witty, lazy, enigmatic, supremely private man who never reached the peak of literary success to which his talent might have taken him.

This very readable biography provides a detailed and honest portrayal of Flandrau and his times. It will fascinate readers interested in writersOCO life stories and scholars of American literature as well as general readers interested in midwestern literary history."