prices on his stocks by spreading rumors about which railroads he had an interest in were being considered for connection with the Union Pacific. First he touted rumors that his fledgling M&M Railroad had a deal in the works, while secretly buying stock in the depressed Cedar Rapids and Missouri Railroad. Then he circulated rumors that the CR&M had plans to connect to the Union Pacific, at which point he began buying back the M&M stock at depressed prices. It's estimated his scams produced over $5 million in profits for him and his cohorts. Central Pacific financing Collis Huntington, a Sacramento hardware merchant, heard Judah's presentation about the railroad at the St. Charles Hotel in November 1860. He invited Judah to his office to hear his proposal in detail. Huntington persuaded Judah to accept financing from himself and four others: Mark Hopkins, his business partner; James Bailey, a jeweler; Leland Stanford, a grocer; and Charles Crocker, a dry-goods merchant. They initially invested $1,500 each and formed a board of directors. These investors became known as The Big Four, and their railroad was called the Central Pacific Railroad. Each eventually made millions of dollars from their investments and control of the Central Pacific Railroad. Before major construction could begin, Judah traveled back to New York City to raise funds to buy out The Big Four. However, shortly after arriving in New York, Judah died on November 2, 1863, of yellow fever that he had contracted while traveling over the Panama Railroad's transit of the Isthmus of Panama. The CPRR Engineering Department was taken over by his successor Samuel S. Montegue, as well as Canadian trained Chief Assistant Engineer (later Acting Chief Engineer) Lewis Metzler Clement who also became Superintendent of Track. Land grants To allow the companies to raise additional capital, Congress granted the railroads a right-of-way corridor, lands for additional facilities like sidings and maintenance yards. They were also granted alternate sections of government-owned lands— per mile (1.6 km)—for on both sides of the track, forming a checkerboard pattern. The railroad companies were given the odd-numbered sections while the federal government retained the even-numbered sections. The exception was in cities, at rivers, or on non-government property. The railroads sold bonds based on the value of the lands, and in areas with good land like the Sacramento Valley and Nebraska sold the land to settlers, contributing to a rapid settlement of