Virginia Midland Railroad

The Virginia Midland Railroad, officially the Washington City, Virginia Midland and Great Southern Railroad Company from 1873 to 1880, and also called the Midland Railroad, was formed on October 15, 1872 as the Virginia and North Carolina Railroad Company from the merger of the Orange, Alexandria and Manassas Railroad Company and the Lynchburg and Danville Railroad Company.[1]

The Virginia and North Carolina name was officially changed at a stockholder meeting held in Lynchburg on April 8, 1873.[1]

On June 7, 1876, John C. Graham sued the railroad and forced it into receivership.[1] The court appointed John S. Barbour, Jr. as the receiver, and he continued to run the railroad.

The Washington City, Virginia Midland and Great Southern Railroad Company was finally sold at auction to its creditors on December 20, 1880 for $5.6 million. The creditors reorganized the company as the Virginia Midland Railroad Company the following year, making the name official.

Barbour led what would today be called a management buyout of the railroad he had run for over 25 years later in 1881.[2]

References

  1. ↑ 1.0 1.1 1.2 Blackford, Charles Minor. Legal History of the Virginia Midland Railway Co., and of the Companies Which Built Its Lines of Road. Lynchburg, VA: J.P. Bell &, Printers, 1881. Archive.org. Google. Web. 20 Feb. 2017.
  2. ↑ "THE VIRGINIA MIDLAND SALE." The Washington Post (1877-1922): 1. Sep 03 1881. ProQuest. Web. 20 Feb. 2017.