Railroads -- United States; Railroads -- United States -- Finance
The retirement of the Southern Railway Security Company marked the
beginning of the withdrawal of the Pennsylvania from investment in
the South. For the rest, it left the lines north of South Carolina
in three main competing groups. There were the Coast Lines from
Richmond south, the Richmond & Danville, and the East Tennessee,
Virginia & Georgia properties. And stretching from west to east was
the Memphis & Charleston, which was already in financial difficulties
of a serious nature. All three of these groups were now thrown upon
their own resources; and two of them, at least, took vigorous measures
in self-protection. The policy of the East Tennessee was the most
aggressive. Shut up in the narrow valley between the Clinch and the
Great Smoky Mountains, and flanked by hostile roads, it conceived it
to be necessary for it to acquire connections to the south, to the
east, and to the west. Accordingly, it leased the Memphis & Charleston
in 1877 and obtained an outlet upon the Mississippi River.[296] In
1878 it bought the Georgia Southern and the Selma, Rome & Dalton
and provided itself with a line as far south as the Flint River in
Alabama.[297] In 1881 it bought the Alabama Central, extending some 96
miles west from Selma. The same year it secured control of the Macon
& Brunswick in Georgia, and began construction from Macon to Rome to
complete a line to the South Atlantic coast.[298] In the north it made
an alliance with the Norfolk & Western, which opened that company’s
line from Bristol to Norfolk,[299] and arranged with the Louisville &
Nashville and the Kentucky Central for construction to a connection at
the Kentucky-Tennessee state line which should open to it the business
of the Central West.[300]
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account