Florida Railroad Magnate
In 1881, Reed and several English and Dutch investors purchased the Atlantic, Gulf, and West India Transit Company, the 1872 reorganization of the Florida Railroad, which ran cross-state in Florida from Fernandina southwest to Cedar Key, and which operated two subsidiaries: the Peninsular Railroad, running to Ocala and Silver Springs from a junction with the Florida Railroad at Waldo; and the Tropical Florida Railroad, which ran from Ocala to Wildwood. Reed reorganized the three railroads as the Florida Transit Company, which he reorganized again as the Florida Transit and Peninsular Railroad in 1883.
In 1882, Reed acquired the Jacksonville, Pensacola and Mobile Railroad (JP&M), which ran from Quincy east through Tallahassee to Lake City, and its subsidiary, the Florida Central Railroad, which ran east from Lake City to Jacksonville. Reed reorganized both the JP&M and the Florida Central as the Florida Central and Western Railroad.
In 1884, Reed merged the Florida Central and Western with the Florida Transit and Peninsular and, in 1885, after signing lease agreements with two smaller Florida lines, brought all of these entities under the umbrella of one large firm, the Florida Railway and Navigation Company. Reed subsequently withdrew from active control and, in 1886, after a brief receivership, the corporation was reorganized as the Florida Central and Peninsular Railroad (FC&P). In 1900, a year after purchasing the majority of FC&P stock, the newly organized Seaboard Air Line Railway (now CSX Transportation) leased the FC&P and, in 1903, acquired it outright.
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