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REYNOLDS, Joseph "Diamond Jo": Difference between revisions
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The financial difficulties of the rival Keokuk Northern Line Packet Company allowed the efficient Reynolds to expand. In 1879 Diamond Jo boats began offering St. Paul-St. Louis service. When the Keokuk Northern went bankrupt in 1880, Reynolds turned from his previous freight business to the passenger trade. In the 1880s the most famous Diamond Jo vessels, such as the "Mary Morton," were luxurious passenger boats. When the successor of the Keokuk Northern ceased operating in 1890, the Diamond Jo Line was the only remaining organized steamboat company between St. Louis and St. Paul. | The financial difficulties of the rival Keokuk Northern Line Packet Company allowed the efficient Reynolds to expand. In 1879 Diamond Jo boats began offering St. Paul-St. Louis service. When the Keokuk Northern went bankrupt in 1880, Reynolds turned from his previous freight business to the passenger trade. In the 1880s the most famous Diamond Jo vessels, such as the "Mary Morton," were luxurious passenger boats. When the successor of the Keokuk Northern ceased operating in 1890, the Diamond Jo Line was the only remaining organized steamboat company between St. Louis and St. Paul. | ||
Although steamboating and wheat dealing were his main enterprises, Reynolds turned to other ventures as well. | Although steamboating and wheat dealing were his main enterprises, Reynolds turned to other ventures as well. In the 1870s, one of the Diamond Jo steamers was named "Arkansas," an unlikely name for an upper Mississippi River company, but a name which hinted at Reynolds’ other interest, the Hot Springs Railroad. Reynolds had endured stagecoach rides to Hot Springs in order to treat his rheumatism and arthritis with the "healing waters." The stagecoach rides were less than satisfactory, and in 1875 Reynolds began building the Hot Springs Railroad, extending north from Malvern Junction, a station on the Cairo & Fulton, to Hot Springs. The arrival of the railroad in Hot Springs dramatically increased the business of the growing spa, thanks to the much improved access. Later dissatisfied with the narrow gauge railroad, he replaced the line with a standard gauge. | ||
Often pictured as a flamboyant figure in the steamboat business, Reynolds was actually a quiet man who shunned society and minded his own business. He achieved his flashy nickname by signing "Jo," the first two letters in his first name, Joseph, outlined with four lines in the shape of a diamond. Not given to drinking, swearing, or gambling, Reynolds banned gambling and bars on his [[STEAMBOATS]]. | Often pictured as a flamboyant figure in the steamboat business, Reynolds was actually a quiet man who shunned society and minded his own business. He achieved his flashy nickname by signing "Jo," the first two letters in his first name, Joseph, outlined with four lines in the shape of a diamond. Not given to drinking, swearing, or gambling, Reynolds banned gambling and bars on his [[STEAMBOATS]]. | ||
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"Diamond Jo Line Boats Are Sold," Telegraph Herald, February 3, 1911 | "Diamond Jo Line Boats Are Sold," Telegraph Herald, February 3, 1911 | ||
"Hot Springs Railroad Roundhouse," Arkansas Historical Preservation Project, http://www.arkansaspreservation.com/historic-properties/_search_nomination_popup.asp?id=380 | |||
[[Category: Business Leader]] | [[Category: Business Leader]] | ||
Revision as of 02:22, 10 January 2011
REYNOLDS, Joseph "Diamond Jo" (Fallsburg, NY, June 11, 1819--Congress, AZ, Feb. 21, 1891). Reynolds showed his business sense at an early age by buying and slaughtering animals and selling the meat at farms and in towns. He taught school in the winter and then formed a partnership with his brother in operating a store. He opened a mill and then bought a tannery.
Reynolds came west with J. J. Hill, the famous railroad builder, who was president of the Great Northern railway. The two men were good friends of Frederick Weyerhauser, the "lumber king,"and F.C. Denkman, an early lumberman of Dubuque.
Around 1870 when Reynolds attempted to enter the grain trade, he found his rivals controlled the railroads and shipping lines. Feeling that he had been unfairly treated by river shippers, Reynolds began building his own boats. In 1874 he moved the main office of the Diamond Jo Line Steamers to Dubuque at EAGLE POINT and continued his business with an estimated twenty warehouses and offices along the MISSISSIPPI RIVER.
The financial difficulties of the rival Keokuk Northern Line Packet Company allowed the efficient Reynolds to expand. In 1879 Diamond Jo boats began offering St. Paul-St. Louis service. When the Keokuk Northern went bankrupt in 1880, Reynolds turned from his previous freight business to the passenger trade. In the 1880s the most famous Diamond Jo vessels, such as the "Mary Morton," were luxurious passenger boats. When the successor of the Keokuk Northern ceased operating in 1890, the Diamond Jo Line was the only remaining organized steamboat company between St. Louis and St. Paul.
Although steamboating and wheat dealing were his main enterprises, Reynolds turned to other ventures as well. In the 1870s, one of the Diamond Jo steamers was named "Arkansas," an unlikely name for an upper Mississippi River company, but a name which hinted at Reynolds’ other interest, the Hot Springs Railroad. Reynolds had endured stagecoach rides to Hot Springs in order to treat his rheumatism and arthritis with the "healing waters." The stagecoach rides were less than satisfactory, and in 1875 Reynolds began building the Hot Springs Railroad, extending north from Malvern Junction, a station on the Cairo & Fulton, to Hot Springs. The arrival of the railroad in Hot Springs dramatically increased the business of the growing spa, thanks to the much improved access. Later dissatisfied with the narrow gauge railroad, he replaced the line with a standard gauge.
Often pictured as a flamboyant figure in the steamboat business, Reynolds was actually a quiet man who shunned society and minded his own business. He achieved his flashy nickname by signing "Jo," the first two letters in his first name, Joseph, outlined with four lines in the shape of a diamond. Not given to drinking, swearing, or gambling, Reynolds banned gambling and bars on his STEAMBOATS.
Reynolds believed in maintaining his boats in top condition and kept stores of tools at different locations along the line for repairs, which he often made himself. Reynolds' habit of selling his boats before they were too old enabled him to buy newer and larger craft, but he never over expanded. His company thrived by adding new customers and running a highly efficient operation. Among his peers, he was known for giving his foremen authority and expecting them to use it.
Leaving an estimated $7 million fortune (approximately $150 million in 2006 dollars), Reynolds generously willed substantial amounts to some individuals and made two other significant bequests. In memory of his only child, a son named Blake, who predeceased him, he and his wife established a memorial park in McGregor. Deeply hurt by the death of his only son, Blake, Reynolds bequeathed $200,000 to the University of Chicago to establish the Reynolds Club in his son's memory. The building is still used as the institution's student union. ---
Source:
Biographical Dictionary of Iowa. digital.lib.uiowa.edu/uipress/bdi/DetailsPage.aspx?id=315
"Diamond Jo Line Boats Are Sold," Telegraph Herald, February 3, 1911
"Hot Springs Railroad Roundhouse," Arkansas Historical Preservation Project, http://www.arkansaspreservation.com/historic-properties/_search_nomination_popup.asp?id=380