As part of a scheme to fleece Vanderbilt, the ______________ secretly authorized the issue of ten million new shares of Erie stock while Vanderbilt was busy buying up shares to gain control of the Erie Railroad.

Question

Quizplus · Accepted Answer

The term "Erie Ring" was used in reference to a group of corrupt businessmen and politicians who controlled the Erie Railroad in the late 1860s. They engaged in various illegal activities, including the issuance of fraudulent stock, in order to enrich themselves at the expense of shareholders and investors like Vanderbilt.

As Part of a Scheme to Fleece Vanderbilt, the ______________