Scioto Valley Railroad Purchased
There was also submitted to this meeting a copy of
a circular issued to the shareholders with reference to
the purchase of the Scioto Valley & New England
Railroad, and a form of deed of conveyance under
which the property of the Scioto Valley & New England
Railroad had been conveyed to the Norfolk &
Western.
On resolution, the action of the board in purchasing
the property and accepting the deed for the same, dated
July 22d, 1890, was approved, ratified and confirmed.
The board of directors was further authorized by
this meeting to create an issue of bonds of the Norfolk
& Western to an amount not exceeding $5,000,000,
for the purpose of acquiring from time to time additional
railroad equipment and rolling stock for the use
of the Company; such bonds to be secured by deed of
trust or mortgage upon such additional railroad equipment
and rolling stock, in such manner and on such
terms as to the board might seem best.
The Scioto Valley & New England Railroad, extending
from Ironton, on the Ohio River, to Columbus,
Ohio, a distance of 128.6 miles, with 28.7 miles of sidings
was acquired and incorporated into the accounts
of the Norfolk & Western as of February 1st, 1890,
and was operated as the Scioto Valley Division.
The Shenandoah Valley Railroad, extending from
Roanoke, Virginia, to Hagerstown, Maryland, a distance
of 238.11 miles, with 17.44 miles of branches
and 33.01 miles of sidings, was acquired as of date
October 1st, 1890.
During 1890 there were constructed and put into
operation 15.7 miles of short branches to coal and iron
mines, 45.64 miles of siding and 31.4 miles of second
or double track.
