Biography of Leonor Loree, president of the Delaware & Hudson Railroad. This is the story of the rise of a gifted business leader, Leonor F. Loree , at the turn of the 20th century. Displaying his mettle in a variety of ever increasing responsible positions Loree steadily advanced up the corporate ladder with the nation’s premier railroad, the Pennsylvania Railroad (Pennsy). His abilities caught the attention of Pennsy President Alexander J. Cassatt , and later Edward H. Harriman , who served as a board member of the Baltimore and Ohio Railroad while Loree served as president of that road. Business enterprises throughout the history of the United States sought to realize competitive advantage over other enterprises serving similar if not the same markets. This has been a crucial characteristic of the transportation industry and in particular, the railroad companies from their earliest days. In the late 19th century, this search for competitive advantage, known as establishing “communities of interest,” took the form of purchasing control of a competitor and placing a managerial executive on the board of that company. In this way, competing roads’ activities could be influenced and at the same time avoid continuing the chaos that plagued the rail marketplace at the time. One important practitioner of the community of interest concept was Alexander Cassatt , president of the Pennsylvania Railroad . One feature of Cassatt’s implementation of the Community of Interest involved promoting one of his junior executives, in this case, Leonor Loree , over the heads of several seasoned executives of long-service and placing him in the presidency of the Baltimore and Ohio Railroad (B&O). The Pennsy had just gained control of the B&O, which had been a disruptive influence in the competition for freight traffic in the eastern region of the US. The Pennsy purchased control of the B&O specifically to eliminate its influence in freight rates. By placing Loree in the presidency of the B&O, Cassatt, perhaps inadvertently, inaugurated one of the most colorful and long lasting of railroad careers. Loree proved to be a creative and competent leader, who, once given the opportunity, by the likes of Harriman and Cassatt, was able to guide his enterprise to greater heights. He proved remarkably able in leading the Delaware and Hudson Railroad , of which he was president from 1907 to 1938, through the challenges of labor conflict, corporate mergers, technology development, and innovations in motive power. Loree eventually was recognized by Railway Age , a prominent rail trade journal, as one of the 16 most respected and admired railroaders of the twentieth century.