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Invisible Giants: The Empires of Cleveland's Van Sweringen Brothers
Invisible Giants is the Horatio Alger-esque tale of a pair of reclusive Cleveland brothers, Oris Paxton and Mantis James Van Sweringen, who rose from poverty to become two of the most powerful men in America. They controlled the country's largest railroad system―a network of track reaching from the Atlantic to Salt Lake City and from Ontario to the Gulf of Mexico. On the eve of the Great Depression they were close to controlling the country's first coast-to-coast rail system―a goal that still eludes us. They created the model upper-class suburb of Shaker Heights, Ohio, with its unique rapid transit access. They built Cleveland's landmark Terminal Tower and its innovative "city within a city" complex. Indisputably, they created modern Cleveland.
Yet beyond a small, closely knit circle, the bachelor Van Sweringen brothers were enigmas. Their actions were aggressive, creative, and bold, but their manner was modest, mild, and retiring. Dismissed by many as mere shoestring financial manipulators, they created enduring works, which remain strong today. The Van Sweringen story begins in early-20th-century Cleveland suburban real estate and reaches its zenith in the heady late 1920s, amid the turmoil of national transportation power politics and unprecedented empire-building. As the Great Depression destroyed many of their fellow financiers, the "Vans" survived through imaginative stubbornness―until tragedy ended their careers almost simultaneously. Invisible Giants is the first comprehensive biography of these two remarkable if mysterious men.
Yet beyond a small, closely knit circle, the bachelor Van Sweringen brothers were enigmas. Their actions were aggressive, creative, and bold, but their manner was modest, mild, and retiring. Dismissed by many as mere shoestring financial manipulators, they created enduring works, which remain strong today. The Van Sweringen story begins in early-20th-century Cleveland suburban real estate and reaches its zenith in the heady late 1920s, amid the turmoil of national transportation power politics and unprecedented empire-building. As the Great Depression destroyed many of their fellow financiers, the "Vans" survived through imaginative stubbornness―until tragedy ended their careers almost simultaneously. Invisible Giants is the first comprehensive biography of these two remarkable if mysterious men.
360 pages, Hardcover
First published December 1, 2002
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Displaying 1 - 9 of 9 reviews
April 30, 2013
Having just reread John Rehor's "Nickel Plate Story," followed by Ian Haberman's biography, I was worried that I would read the same story for the third time.
While the plot was certainly the same - it could only be so - the narrative was more intriguing as the author presented more light on the brothers.
Having been raised in suburban Cleveland, and having been a rail fan from a young age, Van Sweringen was a name I've known for decades. But about them I've known little until this past month.
Having seen their legacy while growing up, I know what they did. By my recent reading, I've learned how they did it. Does the endurance of their vision make their methods more palatable?
Their dreams and ambitions were amazing. Their means were appalling.
This book was as well written as possible; not much more could be done with the subjects, as they left almost no personal intimate history. Yet I found it readable and enjoyable.
While the plot was certainly the same - it could only be so - the narrative was more intriguing as the author presented more light on the brothers.
Having been raised in suburban Cleveland, and having been a rail fan from a young age, Van Sweringen was a name I've known for decades. But about them I've known little until this past month.
Having seen their legacy while growing up, I know what they did. By my recent reading, I've learned how they did it. Does the endurance of their vision make their methods more palatable?
Their dreams and ambitions were amazing. Their means were appalling.
This book was as well written as possible; not much more could be done with the subjects, as they left almost no personal intimate history. Yet I found it readable and enjoyable.
October 8, 2024
Summary: The story of two brothers from Cleveland who built a rail and real estate empire centered on Cleveland’s Terminal Tower.
Terminal Tower. The main Higbee’s store. Tower City. The Rapid and its Shaker Heights line. Shaker Heights and Shaker Square. Railroads. All of these are part of my memories of the years we lived in the Cleveland area. But until I read this book I knew little of the two retiring but visionary brothers responsible, at least in part, for all of these.
Oris Paxton and Mantis James Van Sweringen grew up in poverty and failed at a number of businesses until they began to build a real estate and rail empire based in Cleveland. It began with a vision of a suburban community in east of Cleveland, a former Shaker settlement. They started slowly, acquiring options on a few lots. Then they realized that for buyers to be attracted to the suburbs, commute times to downtown Cleveland needed to be as short as possible. So they acquired right of way and started building tracks and stations for a rapid transit.
Over time, this meant connecting to railroad right of ways, and through East Coast ties led to acquisition of a railroad, the Nickel Plate Railroad, running from Buffalo to Chicago. Railroads, transit and a hub centered in downtown Cleveland led to development of the Cleveland Union Terminal Complex. This included a rail terminal, traction terminal, an office tower, hotel, bank, department store, and the city’s main post office. In an era of rail consolidation, this led to a fierce competition to buy up other railroads. In the end, this resulted in a railroad empire that nearly extended coast to coast.
This biography traces the complex financial and organizational operations, including the creation of holding companies, that gave the brothers control while having a relatively small personal stake, using various stocks, bonds, and loans, all of it premised on an increasingly profitable business. Holding companies also enabled them to operate free of Interstate Commerce Commission scrutiny. And throughout the 1920’s, it worked, culminating in the grand opening of the Cleveland Union Terminal complex in 1930.
By that time, the stock market had crashed, and with it, both rail traffic and real estate investment. These were the two pillars of their empire. Because their holdings were so highly leveraged in a collapsing market, it was a herculean feat to keep it afloat. Thus the latter part of the book is an account of how that effort broke their health. First Mantis, then Oris died. Ironically for Oris, it was during a train ride to New York to meet with bankers.
It seemed to me an incredibly sad story. Neither brother ever married, sharing a bedroom in a mansion. They had few outside interests. The hubris that drove them to build a transcontinental rail network may have been the overreach that brought them down. Specifically, the Missouri-Pacific offset profits in other parts. Likewise, the location on sloping terrain of the Cleveland Union Terminal, and the number of buildings added to their expenses. Even so, they might have made it were it not for the Depression. But in retrospect, the financing of their empire seemed like a house of cards. But in the 1920’s, everyone thought them geniuses.
Then or now, many Clevelanders knew little of them. Yet they left Cleveland some gems, including Terminal Tower, Shaker Square, one of the early shopping centers, and Shaker Heights with it wide boulevards, attractive homes, and transit lines. This biography is a valuable account for those interested both in Cleveland history and railroad history. On the latter count, it includes numerous photos of rail stock. The brothers may have been invisible giants but they left visible works of enduring value.
Terminal Tower. The main Higbee’s store. Tower City. The Rapid and its Shaker Heights line. Shaker Heights and Shaker Square. Railroads. All of these are part of my memories of the years we lived in the Cleveland area. But until I read this book I knew little of the two retiring but visionary brothers responsible, at least in part, for all of these.
Oris Paxton and Mantis James Van Sweringen grew up in poverty and failed at a number of businesses until they began to build a real estate and rail empire based in Cleveland. It began with a vision of a suburban community in east of Cleveland, a former Shaker settlement. They started slowly, acquiring options on a few lots. Then they realized that for buyers to be attracted to the suburbs, commute times to downtown Cleveland needed to be as short as possible. So they acquired right of way and started building tracks and stations for a rapid transit.
Over time, this meant connecting to railroad right of ways, and through East Coast ties led to acquisition of a railroad, the Nickel Plate Railroad, running from Buffalo to Chicago. Railroads, transit and a hub centered in downtown Cleveland led to development of the Cleveland Union Terminal Complex. This included a rail terminal, traction terminal, an office tower, hotel, bank, department store, and the city’s main post office. In an era of rail consolidation, this led to a fierce competition to buy up other railroads. In the end, this resulted in a railroad empire that nearly extended coast to coast.
This biography traces the complex financial and organizational operations, including the creation of holding companies, that gave the brothers control while having a relatively small personal stake, using various stocks, bonds, and loans, all of it premised on an increasingly profitable business. Holding companies also enabled them to operate free of Interstate Commerce Commission scrutiny. And throughout the 1920’s, it worked, culminating in the grand opening of the Cleveland Union Terminal complex in 1930.
By that time, the stock market had crashed, and with it, both rail traffic and real estate investment. These were the two pillars of their empire. Because their holdings were so highly leveraged in a collapsing market, it was a herculean feat to keep it afloat. Thus the latter part of the book is an account of how that effort broke their health. First Mantis, then Oris died. Ironically for Oris, it was during a train ride to New York to meet with bankers.
It seemed to me an incredibly sad story. Neither brother ever married, sharing a bedroom in a mansion. They had few outside interests. The hubris that drove them to build a transcontinental rail network may have been the overreach that brought them down. Specifically, the Missouri-Pacific offset profits in other parts. Likewise, the location on sloping terrain of the Cleveland Union Terminal, and the number of buildings added to their expenses. Even so, they might have made it were it not for the Depression. But in retrospect, the financing of their empire seemed like a house of cards. But in the 1920’s, everyone thought them geniuses.
Then or now, many Clevelanders knew little of them. Yet they left Cleveland some gems, including Terminal Tower, Shaker Square, one of the early shopping centers, and Shaker Heights with it wide boulevards, attractive homes, and transit lines. This biography is a valuable account for those interested both in Cleveland history and railroad history. On the latter count, it includes numerous photos of rail stock. The brothers may have been invisible giants but they left visible works of enduring value.
December 17, 2018
The topic here was very interesting to me and it's not been written about in depth by many. This book covers the brothers O.P. & M.J. Van Sweringen through their three main business ventures: railroads, Shaker Heights development and the Terminal Tower. It's a story of brothers who built a net worth in the 100s of millions but who died almost penniless. It was good to learn more about the development of a big part of Cleveland which I knew little about.
The book was not a great read as it spent a lot of time on the railroad industry and the intricate ownership structure that the brothers utilized. It did explain the leverage that brought them down in the depression and even gave me pause about the current, strong economy. Things can change in a hurry.
This book is worth the time if you want to know more about these little-known brothers.
The book was not a great read as it spent a lot of time on the railroad industry and the intricate ownership structure that the brothers utilized. It did explain the leverage that brought them down in the depression and even gave me pause about the current, strong economy. Things can change in a hurry.
This book is worth the time if you want to know more about these little-known brothers.
August 14, 2021
Interesting biographies of the Van Sweringen brothers. I had heard of them but never knew anything about them. There was a good reason for this as they were intensely private and kept all information closely held. An excellent explanation of the byzantine financial schemes of the 20s and how the house of cards came tumbling down.
The finance portion was especially interesting because my paternal grandfather used many similar vehicles to amass wealth in the roaring 20s ( not to the same extent to be sure) then losing it all as the great depression deepened.
As a lover of history and trains, this bok should be essential reading for all of those who share these interests.
The finance portion was especially interesting because my paternal grandfather used many similar vehicles to amass wealth in the roaring 20s ( not to the same extent to be sure) then losing it all as the great depression deepened.
As a lover of history and trains, this bok should be essential reading for all of those who share these interests.
March 16, 2022
As a history buff, I was looking forward to learning about this era. I quickly found this book to be so heavy on details that at the moment of reading, seemed to have very little relevance on the story being told.
I imagine this book being used for research more than for enjoyment.
I imagine this book being used for research more than for enjoyment.
July 8, 2017
Fascinating subjects presented in a dull manner. Too bad.
January 19, 2022
I may have found this more interesting because I grew up in NE Ohio and was familiar with most of the references. There was much to learn about how the railroads in the East were run and divided up.
December 31, 2011
Mr. Harwood takes a very interesting subject - the lives of the Van Sweringen brothers - and makes it dry as dust. One coan see the bones of a good story, but it never made it. That it's non-fiction is absolutely no excuse.
May 19, 2014
It took forever to finish, but this was a really great book. Well-written and highly interesting. My only complaint is that it became EXTREMELY hard to remember who was who as far as both railroads and railroading personalities by the end. I needed a chart!
Displaying 1 - 9 of 9 reviews