Penn Station, New York 1910

Penn Station, operating staff consulting with train engineer on platform,

 At the time Penn Station was conceived, the Pennsylvania Railroad had the largest operating budget of any enterprise in the United States, other than the federal government.

That changed and the railroads were doomed when the Panama canal opened. Consider, one train loaded with silk was 5 million dollars of cargo, and the best way to get it to New York was from Asia to Seattle, then by train to Chicago then New York... right up until they could get shipped quickly through the Panama canal instead of the long way around the South American continent.

https://www.facebook.com/neatoldphotos.m.lucas2/photos/a.400823796751664.1073741829.400758923424818/687548421412532/?type=3
http://www.blackdiamondnow.net/black-diamond-now/2014/02/the-cmsp-an-electric-train.html