In Part 1 of this article, the early history of the Central of Georgia Railway was featured. In Part 2, the railroad’s history from the late 1880s until it was acquired by Norfolk Southern is featured.
The acquirer is acquired but continues to grow
The Central of Georgia was acquired by the Richmond Terminal Company in 1887. The new company issued overvalued bonds based on the good credit of the Central. This resulted in huge corporate debts.
Under its new ownership, the Savannah & Western...