Southern Railway System 1894; Norfolk Southern 1982
In 1892, the R&D and subsidiaries entered receivership. Reorganized by J.P. Morgan and his New York banking firm of Drexel, Morgan and Company, they emerged in 1894 as the Southern Railway Company, which controlled over 4,000 miles (6,400 km) of line at its inception. Samuel Spencer became Southern's first president.
In 1990, the Southern Railway became part of today's Norfolk Southern Railway.
Read more about this topic: Richmond And Danville Railroad
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