Pacific Improvement Company
The Pacific Improvement Company was a large California company that was part of the Southern Pacific Railroad. It was started in 1878 by four influential men known as the Big Four. These men were Leland Stanford, Collis Potter Huntington, Mark Hopkins, and Charles Crocker. They were wealthy businessmen who helped build the Central Pacific Railroad.[1]: 586
 Pacific Improvement Company Sign (1881). | |
| Company type | Holding company |
|---|---|
| Industry | Railroad, Land development |
| Predecessor | Western Development Company |
| Founded | November 4, 1878 |
| Founder | Leland Stanford |
| Defunct | February 27, 1919 |
| Fate | Acquired |
| Headquarters | , USA |
Area served | Western United States, Monterey Peninsula |
| Products | railroads, hotels, land |
| Owner | Southern Pacific Railroad |
History
changeThe Pacific Improvement Company was started in San Francisco, California, on November 4, 1878.[2] It had $5,000,000 in capital, divided into 5,000 shares worth $100 each. The company’s directors were J. H. Strobridge, F. S. Douty, Authur Brown, B. R. Crocker, and W. E. Brown.[3]
The Pacific Improvement Company was involved in many big projects, including building the Hotel Del Monte in 1880, a large resort hotel in Monterey, California. By the 1880s, it had grown into one of the largest companies in the Western United States. The company was in charge of businesses like shipping, mining, publishing, land development, resort hotels, electric streetcars, and water systems.[4][5]
In 1880, the Pacific Improvement Company purchased Rancho Pescadero from a businessman David Jacks. In 1919, the company was sold to Del Monte Properties.[4][6]
References
change- ↑ Tutorow, Norman E. (2004). The Governor: The Life and Legacy of Leland Stanford, a California Colossus, Volume 2. Spokane, Washington: The Arthur H. Clark Company. ISBN 0870623265.
- ↑ "Local Brevities". The Sacramento Bee. Sacramento, California. 5 Nov 1878. p. 3. Retrieved February 9, 2022.
- ↑ "Extensive Business". Oakland Tribune. Oakland, California. 13 Mar 1879. p. 3. Retrieved February 9, 2022.
- ↑ 4.0 4.1 Fink, Augusta (2000). Monterey County: The Dramatic Story of its Past. Valley Publishers. p. 130-131. Retrieved 2024-08-12.
- ↑ Orsi, Richard J. (February 6, 2007). Sunset Limited, The Southern Pacific Railroad and the Development of the American West, 1850-1930. Univ of California Press. p. 115. ISBN 9780520251649. Retrieved 2022-02-09.
- ↑ "Del Monte Area To Be Developed". Oakland Tribune. Oakland, California. February 28, 1919. p. 15. Retrieved 2024-08-14.
Other websites
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