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Reinhart's own statements to the press in the previous year about the railroad's financial health would prove to be his downfall. Right up until he announced the receivership, Reinhart had been issuing reports of a highly profitable financial situation. He pointed out that the railroad's revenues
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The press needed someone to blame and quickly centered on
Reinhart as the issuer of the glowing statements of solvency as little as six months previous. Investigations were begun and it was soon found that executives in as many as the past seven years had juggled the company's accounts so that by
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the summer of 1894, the railroad's actual debt in the previous years had at least equalled its revenues, leaving the company's net worth at zero. Reinhart vehemently denied these new reports, but after further posturing and an indictment for violating the
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16 million, which was $ 1 million more than the previous year. However, with that amount in revenues, the railroad was barely able to cover the interest on its debts and collapsed with the death of its chairman
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Following graduation, Reinhart entered the field of railroad management, beginning in 1875 as a clerk in the office of a division superintendent of the
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Reinhart ascended to the Santa Fe's presidency on
December 23, 1893, when he was appointed a receiver of the railroad along with
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on
January 27, 1911. He was 59 years old at the time of his death, which was attributed to
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which followed a severe cold which he caught in New York City two weeks previously.
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30:(1851–1911) was an American businessman who served as the twelfth president of the
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67:. Thus began a career in which Reinhart worked for more than 20 railroads.
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At the time of his death, Reinhart was serving as the
President of the
34:. He was head of the Santa Fe from December 1893 until August 1894.
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Atchison, Topeka and Santa Fe Railway
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for the fiscal year ending June 30, 1893, were more than
241:Atchison, Topeka and Santa Fe Railway presidents
179:. University of Kansas Press, Lawrence, Kansas.
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51:on September 15, 1851. He was a graduate of
78:. He had competed for the presidency with
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128:Kansas City Viaduct and Terminal Company
157:"Former President of Santa Fe is Dead,"
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32:Atchison, Topeka and Santa Fe Railway
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246:19th-century American businesspeople
53:Western University of Pennsylvania
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175:Waters, Lawrence Leslie (1950).
47:Joseph W. Reinhart was born in
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111:Reinhart died at his home in
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236:Businesspeople from Boston
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65:Allegheny Valley Railroad
177:Steel Trails to Santa Fe
49:Pittsburgh, Pennsylvania
101:Interstate Commerce Act
80:Albert Alonzo Robinson
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162:Jan. 28, 1911, pg. 1.
160:Topeka Daily Capital,
113:Kansas City, Missouri
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16:American businessman
202:1893 – 1894
28:Joseph W. Reinhart
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23:Joseph W. Reinhart
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205:Succeeded by
196:President of the
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208:Aldace F. Walker
187:Preceded by
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107:Death and legacy
93:George C. Magoun
76:Joseph C. Wilson
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169:Further reading
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231:1911 deaths
226:1851 births
43:Early years
220:Categories
121:bronchitis
134:Footnotes
117:pneumonia
38:Biography
59:Career
119:and
74:and
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141:^
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88:$
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