Thomas Clark “Doc” Durant was an American financier, as well as vice-president and general manager of the Union Pacific Railroad. In the 1860s, he negotiated a contract to oversee the construction of the Union Pacific’s juncture with the Central Pacific as part of America’s Transcontinental Railroad. In this role, Durant extended his interests to benefit from the railroad’s construction. He created the financial structure that led to the Credit Mobilier of America. This venture erupted into scandal after Durant persuaded several politicians and prominent merchants to invest as limited stockholders. All the while, Durant was manipulating the stock market to increase his own value in the company.
As for the actual construction of the railroad, the government paid for each mile of track laid. Durant overrode his engineers and ordered extra track to be laid in large U-shaped meanderings (oxbows). Due to these time-wasting tactics, the railroad had only progressed forty miles west of Omaha, Nebraska after two and a half years of construction. Despite this, Durant was able to avoid any federal oversight because the United States was preoccupied with the Civil War.
Meanwhile, “war” was raging within the ranks of the Union Pacific construction crew over Duran’t poor management. This led to a major disagreement between Durant and General Grenville Dodge, which resulted in “The Meeting” at Fort Sanders.
Learn more about Thomas Durant and the building of the First Transcontinental Railroad.