Seaboard Air Line Railway versus Railroadgreenspun.com : LUSENET : ACL and SAL Railroads Historical Society : One Thread
Collectible stocks and bonds are known from the Seaboard Air Line RAILWAY from the early 1900s to about 1950. However, from 1967 to 1967, the company was listed in the Dow Jones Transportation Average as Seaboard Air Line RAILROAD. Does anyone known the exact date of the name change?
-- Terry Cox (email@example.com), June 03, 1999
The following info was gleaned from Griffin's Seaboard: The Route of Courteous Service, published this year by TLC, a book worth buying in my humble opinion.
beginning on page 10.
"On April 10, 1990, the name of the Richmond, Petersburg and Carolina was changed to the Seaboard Air Line Railway."
and on page 12:
"In 1915, the Seaboard Air Line Railway and the Carolina, Atlantic and Western Railway were merged to create the Seaboard Air Line Railway Company."
continuing on page 19 after addressing depressed economic conditions:
"In 1944 a plan of reorginization was approved by the federal courts and application was filed with the ICC to end the receivership.
Pursuant to the approval of the plan by the courts, the properties of the Seaboard Air Line Railway Company were sold under foreclosure at public auction on the passenger platform of the Portsmouth station on May 31, 1945. The railroad was purchased for $52,000,500 by the Seaboard Air Line Railway Company Reorganization Committee. The committee was the only bidder.
On June 28, 1946, the ICC approved the issuance of securities provided for under the reorgainization plan and approved the acquisition by a new company - the Seaboard Air Line Railroad Company - of the properties of the old Seaboard Air Line Railway. The receivership was terminated and operation of the new company began at 12:01 a.m. on August 1,1946."
I mean no disrespect to the author nor intend plagiarism of his work by providing this info.
-- David Wiggs (firstname.lastname@example.org), June 03, 1999.
The 1946 Seaboard Yearbook has a letter inside from Legh Powell Jr. which states:
"Your Company commenced operations on August 1, 1946, when it took over, pursuant to the plan of reorganization of the Seaboard Airline Railway Company, ownership and operation of substantially all the lines of the railroad in Virginia, the Carolinas, Georgia, Alabama and Florida, formerly operated by that company."
-- Pete Piszczek (email@example.com), June 03, 1999.