ROANOKE TIMES 

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, July 21, 1990                   TAG: 9007210060
SECTION: BUSINESS                    PAGE: A-7   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

DORMANT RAILROAD FINALLY FADES AWAY

Folks up in Ohio probably never noticed when the 115-year-old Scioto Valley and New England Railroad passed into oblivion earlier this month. The line hadn't pulled a freight car since July 22, 1890.

But according to a report issued this week by the Virginia State Corporation Commission, the railroad's 60 million shares of stock were absorbed by a unit of Norfolk Southern Corp.

The Scioto Valley was a wholly owned subsidiary of the Norfolk and Western Railway, and the only reason it continued to exist was because of a debt. On April 1, the NW paid off $2.5 million in 100-year mortgage bonds owned by its subsidiary. The Scioto no longer had a reason to exist and was merged into the NW on July 12.

- Staff report 


 by CNB