Virginian in 1911--Merger
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Sat Mar 19 20:25:53 EDT 2011
Bluefield Daily Telegraph
August 4, 1911
GIGANTIC RAILROAD MERGER FORECASTED
Negotiations for Traffic Arrangement Between the New York Central and Virginian in Progress
A gigantic merger of railway lines controlled by the New York Central is under way, according to the New York Times. That newspaper, stating that the news was given out by bankers having knowledge of the progress of the merger, said that it is nearing completion and means the unification of all the New York Central controlled roads into one company.
The present capitalization of these roads is $1,171,223,039, their gross earnings annually reach $265,103,708. their gross earnings annually reach $265,103, 708 and the combined mileage is 13,380, of which track the New York Central proper has 3,785 miles.
There have been negotiations looking toward a traffic arrangement between the New York Central and the Virginian Railway in progress for some months, and it is believed that this is likely to be consummated. Such an arrangement would, it has been said, open the best port on the Atlantic to the network of rails between St. Louis, Cairo, Chicago and Cincinnati, which are now operated by it under various names, and leading to it a railway of the very highest class with the lowest grade across the mountains which ever has been attained.
It was said some months ago when active negotiations between the New York Central and Virginian interests were going on, that should they prove successful there would follow great export and import traffic through Norfolk and the port would profit greatly.
Control of the Virginian in some form, it has been said, would give the New York Central a much shorter line to the Atlantic from Chicago than it has between Chicago and New York and a much lower grade than the Pennsylvania Railroad has between Chicago and New York. The Central recently bought the Kanawha and Michigan and there lies but the Kanawha river between that road and the western end of the Virginian.
[Some numbers were blurred on the microfilm. The best interpretations are shown.]
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