Benjamin Franklin Yoakum
Encyclopedia
Benjamin Franklin Yoakum (August 20, 1859 - November 28, 1929) was a visionary railroad executive of the late 19th and early 20th centuries who attempted to join the Frisco
and Rock Island
Railroads into a great system stretching from Chicago
to Mexico
. In 1909, when Yoakum controlled 17,500 miles of railroad, Railway World magazine called him an "empire builder" who had done as much for the Southwest as legendary James J. Hill
had done for the Northwest.
on August 20, 1859 to Narcissa Teague and Franklin L. Yoakum.
In 1879 at age twenty, he worked on the surveying gang for the International-Great Northern Railroad
to Palestine, Texas
. He later became a land speculator for Jay Gould
. He drilled artesian wells in the Rio Grande Valley
. In 1887, the town of Yoakum, Texas
was named for him.
From before 1888 to 1892, Yoakum worked for the San Antonio and Aransas Pass Railway as general manager
and traffic manager. From 1893 to 1896, he was general manager
and third vice president
for the Gulf, Colorado and Santa Fe Railroad. In 1896, he became vice president and general manager
of the Frisco Railroad
. He became president in 1900, and chairman of the board
in 1904.
Other positions Yoakum held were president of the Chicago and Eastern Illinois Railroad
, 1902-1904, afterwards chairman of the board; president, Evansville and Terre Haute Railroad, 1904, afterwards chairman; president, St. Louis, Brownsville and Mexico Railway
after 1905; and chairman of the executive committee, Chicago, Rock Island and Pacific Railroad
after 1905.
According to the Handbook of Texas,
Unfortunately, between 1911 and 1913, the Frisco suffered devastating financial losses from coal strikes, flooding of the tracks in Louisiana and Arkansas, and loss of business due to the Mexican Revolution
. "Yoakum's Dream" ended when the Frisco entered bankruptcy in 1913 and was shorn of its Gulf Coast Lines
as well as its affiliation with the Rock Island.
In 1907, Yoakum moved to New York, where he became president of the Empire Bond and Mortgage Company. In his later years, Yoakum gave lectures and wrote popular magazine articles about the railroads, and advocated agricultural cooperatives to help farmers, whose problems he was deeply interested in.
Yoakum died at his home in New York on November 28, 1929, at age 70. He was buried in Woodlawn Cemetery in New York City
.
Yoakum married Elizabeth Bennett of San Antonio, daughter of a prominent banker. They had two daughters, one of whom, Bessie F. Yoakum, married Francis Rham Larkin in 1913.
St. Louis-San Francisco Railway
The St. Louis – San Francisco Railway , also known as the Frisco, was a railroad that operated in the Midwest and South Central U.S. from 1876 to 1980.-History:...
and Rock Island
Chicago, Rock Island and Pacific Railroad
The Chicago, Rock Island and Pacific Railroad was a Class I railroad in the United States. It was also known as the Rock Island Line, or, in its final years, The Rock.-Incorporation:...
Railroads into a great system stretching from Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
to Mexico
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
. In 1909, when Yoakum controlled 17,500 miles of railroad, Railway World magazine called him an "empire builder" who had done as much for the Southwest as legendary James J. Hill
James J. Hill
James Jerome Hill , was a Canadian-American railroad executive. He was the chief executive officer of a family of lines headed by the Great Northern Railway, which served a substantial area of the Upper Midwest, the northern Great Plains, and Pacific Northwest...
had done for the Northwest.
Biography
Yoakum was born near Tehuacana, TexasTehuacana, Texas
Tehuacana is a town in Limestone County, Texas, United States. The population was 307 at the 2000 census. From 1869 until 1902, the town was home to Trinity University.-Geography:Tehuacana is located at ....
on August 20, 1859 to Narcissa Teague and Franklin L. Yoakum.
In 1879 at age twenty, he worked on the surveying gang for the International-Great Northern Railroad
International-Great Northern Railroad
The International – Great Northern Railroad was a railroad that operated in the U.S. state of Texas. It was created on September 30, 1873, when International Railroad and Houston and Great Northern Railroad merged....
to Palestine, Texas
Palestine, Texas
Palestine is a city in Anderson County, Texas, in the United States. As of the 2000 census, the city population was 17,598, and 18,458 in the 2009 estimate. It is the county seat of Anderson County and is situated in East Texas...
. He later became a land speculator for Jay Gould
Jay Gould
Jason "Jay" Gould was a leading American railroad developer and speculator. He has long been vilified as an archetypal robber baron, whose successes made him the ninth richest American in history. Condé Nast Portfolio ranked Gould as the 8th worst American CEO of all time...
. He drilled artesian wells in the Rio Grande Valley
Rio Grande Valley
The Rio Grande Valley or the Lower Rio Grande Valley, informally called The Valley, is an area located in the southernmost tip of South Texas...
. In 1887, the town of Yoakum, Texas
Yoakum, Texas
Yoakum is a city in DeWitt and Lavaca Counties in the U.S. state of Texas. The population was 5,731 at the 2000 census.-Geography:Yoakum is located at ....
was named for him.
From before 1888 to 1892, Yoakum worked for the San Antonio and Aransas Pass Railway as general manager
General manager
General manager is a descriptive term for certain executives in a business operation. It is also a formal title held by some business executives, most commonly in the hospitality industry.-Generic usage:...
and traffic manager. From 1893 to 1896, he was general manager
General manager
General manager is a descriptive term for certain executives in a business operation. It is also a formal title held by some business executives, most commonly in the hospitality industry.-Generic usage:...
and third vice president
Vice president
A vice president is an officer in government or business who is below a president in rank. The name comes from the Latin vice meaning 'in place of'. In some countries, the vice president is called the deputy president...
for the Gulf, Colorado and Santa Fe Railroad. In 1896, he became vice president and general manager
General manager
General manager is a descriptive term for certain executives in a business operation. It is also a formal title held by some business executives, most commonly in the hospitality industry.-Generic usage:...
of the Frisco Railroad
St. Louis-San Francisco Railway
The St. Louis – San Francisco Railway , also known as the Frisco, was a railroad that operated in the Midwest and South Central U.S. from 1876 to 1980.-History:...
. He became president in 1900, and chairman of the board
Chairman of the Board
The Chairman of the Board is a seat of office in an organization, especially of corporations.Chairman of the Board may also refer to:*Chairman of the Board , a 1998 film*Chairmen of the Board , a 1970s American soul music group...
in 1904.
Other positions Yoakum held were president of the Chicago and Eastern Illinois Railroad
Chicago and Eastern Illinois Railroad
The Chicago and Eastern Illinois Railroad was a Class I railroad that linked Chicago to southern Illinois, St. Louis, and Evansville. Founded in 1877, it grew aggressively and stayed relatively strong throughout the Great Depression and two World Wars before being purchased by the Missouri Pacific...
, 1902-1904, afterwards chairman of the board; president, Evansville and Terre Haute Railroad, 1904, afterwards chairman; president, St. Louis, Brownsville and Mexico Railway
St. Louis, Brownsville and Mexico Railway
The St. Louis, Brownsville & Mexico Railway was a 200-mile railroad that operated from Brownsville, Texas to Gulf Coast Junction in Houston. It passed through small southeast Texas communities such as Robstown, Corpus Christi, Bay City, and Harlingen as well as the Rio Grande Valley.-History:Uriah...
after 1905; and chairman of the executive committee, Chicago, Rock Island and Pacific Railroad
Chicago, Rock Island and Pacific Railroad
The Chicago, Rock Island and Pacific Railroad was a Class I railroad in the United States. It was also known as the Rock Island Line, or, in its final years, The Rock.-Incorporation:...
after 1905.
According to the Handbook of Texas,
In 1905 the Frisco and Rock Island lines were joined, and Yoakum was the chairman of the executive committee. This line was known as the Yoakum Line and at the time was the largest railroad system under a single control. His career was one of the most colorful of the many men in railroad history.
Unfortunately, between 1911 and 1913, the Frisco suffered devastating financial losses from coal strikes, flooding of the tracks in Louisiana and Arkansas, and loss of business due to the Mexican Revolution
Mexican Revolution
The Mexican Revolution was a major armed struggle that started in 1910, with an uprising led by Francisco I. Madero against longtime autocrat Porfirio Díaz. The Revolution was characterized by several socialist, liberal, anarchist, populist, and agrarianist movements. Over time the Revolution...
. "Yoakum's Dream" ended when the Frisco entered bankruptcy in 1913 and was shorn of its Gulf Coast Lines
Gulf Coast Lines
The Gulf Coast Lines was the name of a railroad system comprising three principal railroads, as well as some smaller ones, that stretched from New Orleans, Louisiana via Baton Rouge and Houston to Brownsville, Texas...
as well as its affiliation with the Rock Island.
In 1907, Yoakum moved to New York, where he became president of the Empire Bond and Mortgage Company. In his later years, Yoakum gave lectures and wrote popular magazine articles about the railroads, and advocated agricultural cooperatives to help farmers, whose problems he was deeply interested in.
Yoakum died at his home in New York on November 28, 1929, at age 70. He was buried in Woodlawn Cemetery in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
.
Family
A brother, Charles Henderson Yoakum (1849-1909), was a Texas state legislator and United States Congressman. Another brother, Finis E. Yoakum (1851-1920), was a faith healer and social reformer.Yoakum married Elizabeth Bennett of San Antonio, daughter of a prominent banker. They had two daughters, one of whom, Bessie F. Yoakum, married Francis Rham Larkin in 1913.