Ames, Oakes (1804–1873) At 16, Ames took over his family’s modestshovel-manufacturing business and transformed it into a multimillion-dollar business triumph, for which he became nationally known as the
“Ace of Spades.†Anxious to complete the floundering transcontinentalrailroad, Abraham Lincoln asked Ames to oversee financing the massiveproject. The result was the founding of Crédit Mobilier, whose investorsessentially paid themselves to build the railroad at inflated prices. TheUnion Pacific-Central Pacific got built, but the Crédit Mobilier scandaldestroyed Ames’ reputation.
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Topic: About Oakes Ames (Read 1030 times)