Tuesday freight train derailment near Jamaica under investigation newsday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsday.com Daily Mail and Mail on Sunday newspapers.
As many railroad buffs know, at one time there were hundreds of North American railroads. Over the decades bankruptcies, mergers, acquisitions, etc. have shrunk that number considerably. There are now only seven Class I railroads in North America, and that number is likely to shrink to six in the near future. The Canadian Pacific Railway and the Canadian National Railway have both made bids to buy the Kansas City Southern Railway.
The Soo Line Railroad
The Soo Line Railroad (SOO) is the primary U.S. subsidiary railroad of the Canadian Pacific Railway (CP), controlled by CP through its Soo Line Corporation.
FreightWaves Classics: The Soo Line was founded to serve Twin Cities millers and ag interests freightwaves.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freightwaves.com Daily Mail and Mail on Sunday newspapers.
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CALGARY, AB, April 21, 2021 /PRNewswire/ - Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) today announced first-quarter operating results, including revenues of $1.96 billion, an operating ratio ( OR ) of 60.2 percent, adjusted OR of 58.5 percent, diluted earnings per share ( EPS ) of $4.50 and adjusted diluted EPS of $4.48. The strong demand environment, particularly across bulk, merchandise and domestic intermodal, coupled with our commitment to the foundations of precision scheduled railroading enabled our success in the first quarter, said Keith Creel, CP President and Chief Executive Officer. The CP family demonstrated resiliency through winter and delivered a record March. Our 12,000-strong team continues to deliver, no matter the obstacles, and I am extremely proud of their efforts.
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 Railroad (S&W) was founded in 1888 as a Central subsidiary. It acquired several small railroads, pushing further into Alabama and across the Tennessee border. Shortly after it was founded the S&W purchased the 157-mile Columbus & Western (C&W), which connected Columbus with Birmingham, Alabama. In addition, a branch line ran from near the Alabama state line at Opelika to Roanoke.