The Napoleon of the Plains

In 1865, Benjamin Holladay had became the chief creditor of Russell, Majors and Waddell.  He called in his notes on 1861 forcing the firm into bankruptcy.  Holladay bought assets from the partners for $500,000 and within a few years his firm, Holladay Overland Mail and Express Company, held a virtual monopoly on all freight and passenger service between Salt Lake and the Missouri, along with the governmental subsidy as well.  His firm employed 15,000 people, owned 20,000 vehicles and grossed $180,000 a month from services. 

Six foot two, powerfully built and insatiable in his ambitions, Ben Holladay was known for being destitute of honesty, morality and common decency.  Beginning as just a saloon owner in 1830, then a packing firm and distillery in Weston, Missouri, Holladay gained prominence in the freight industry through friendly contacts with the Mormons.  By manipulating War Department contracts during the Mexican War, he made his first fortune.

To gain control of the freight business, "The Napoleon of the Plains", began selling animals to Russell, Majors, and Waddell on credit, letting their bills accumulate and then loaning money to William Russell to start the Pony Express.  As creditor he was in the position to take over the bankrupt firm.

If there was one thing Holladay hated it was competition, no matter how insignificant or weak.  Rivals who dared to contest him, even the smallest part of his territory, would find themselves bankrupt at the hands of Ben Holladay.  He would undercut his rates and then once his rival was gone, raise them again while lowering his standards of operations.

By 1868 Holladay had turned to railroads as head of the Oregon line.  When it was taken over by board holders after the Panic of 1873, Holladay was left almost bankrupt.  Karma...

Next time...the Behemoth of the West
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Today on Pioneer History: "On September 14, 1901, On this day in 1901, U.S. President William McKinley dies after being shot by a deranged anarchist during the Pan-American Exposition in Buffalo, New York.