Missouri Pacific enters Texas
On this day in 1880, the Missouri Pacific Railway Company, owned by tycoon Jay Gould, entered the Lone Star State for the first time by leasing the Missouri-Kansas-Texas Railroad (the Katy) and its line from Kansas to Texas. Gould, who bought the Missouri Pacific in 1879, was determined to develop a southwestern rail network, and also gained control of various other railroads in the state. However, the first Missouri Pacific system in Texas did not last long, as several of its component lines entered receivership in the 1880s. The railroad reorganized as the Missouri Pacific Railroad Company in 1917. The Missouri Pacific acquired a number of Texas lines in the 1920s, but filed for bankruptcy in 1933 and remained in receivership until 1956. It was acquired by the Union Pacific Corporation in 1982, and the unified system operated as the Union Pacific.