MIT 1 011 - Study Guide (11 pages)

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Study Guide



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Study Guide

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Pages:
11
School:
Massachusetts Institute of Technology
Course:
1 011 - Project Evaluation

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The Disasters and Politics of the Wheeling Bridge Abraham Reyes 1 011 May 12 2003 Background Constructed in 1849 It was the longest suspension bridge in the world at the time of construction Caused a legal battle between Pittsburgh PA and Wheeling WV First bridge to span the Ohio River Connected the National Road between West Virginia and Ohio Destroyed in 1854 by a storm and reconstructed in 1860 Oldest vehicular suspension bridge still in operation Major Costs of Wheeling Bridge Total construction costs including rebuilding were about 400 000 Bridge impeded some steamboat traffic on the Ohio River The Pittsburgh steamboat and rail businesses were negatively affected by the opening of the bridge The bridge caused an extremely costly legal battle between Pennsylvania and Wheeling that threatened to bankrupt the Wheeling Bridge Company The ferry company which existed before the bridge was built went out of business Major Benefits of Wheeling Bridge Boosted the Wheeling economy Prompted the B O Railroad to choose Wheeling as its terminus Increased inter state trade by connecting the eastern and western sections of the National Road Advanced bridge technology by constructing the largest single span suspension bridge in the world Financial Analysis Total construction cost was approximately 400 000 Length of construction was 24 months for the first bridge and 12 months for the second Funded through sale of stock and loans Annual revenues from tolls were approximately 50 000 Wheeling Bridge Company began making profit approximately 20 years after construction Although the return on investment was approximately 12 the bridge was not very profitable in the beginning due to legal costs Invention of car greatly increased toll revenue Bridge was sold to the City of Wheeling in 1927 for 2 15 million dollars Legal Battle Pittsburgh claims that the bridge obstructs navigation on the Ohio River Pittsburgh goes to the U S Supreme Court to seek abatement of the bridge In May 1852



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