THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Tuesday, December 19, 1995 TAG: 9512190382
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
TYPE: Daily Digest
LENGTH: Short : 22 lines
Private shareholders in the North Carolina Railroad Co. have narrowly approved a new lease with Norfolk Southern Corp. of Norfolk. Shareholders who boycotted a meeting to block the lease nearly prevented the company from getting a quorum to vote on the lease. North Carolina owns 75 percent of the railroad and private shareholders own 25 percent. Norfolk Southern has leased the 317-mile railroad connecting Charlotte with Morehead City. Boycotting shareholders wanted the Norfolk-based railroad to pay more for the new lease. (Associated Press) by CNB