Consolidation
As early as 1886 the Chicago and West Michigan Railway shared common directors with the Detroit, Lansing and Northern Railroad, which was reorganized a decade later, in 1896, as the Detroit, Grand Rapids and Western Railroad. On December 27, 1897, the DGR&W inaugurated car ferry service between Muskegon and Milwaukee with the wooden car ferry Muskegon (later renamed Pere Marquette 16).
By January 1, 1899, the F&PM had sold 468,690 acres (1,896.7 km2) of the 513,000 acres (2,080 km2) granted the company by the federal government. Sales amounted to $4,847,007 - an average of $10.34 an acres.
An agreement was reached in 1899 for the consolidation of the F&PM with the Chicago and West Michigan and the Detroit, Grand Rapids and Western with securities of the newly organized exchanged for those of the constituent companies. The F&PM declared a special 2% dividend out of assets as part of the consolidation plan. The Pere Marquette Railroad was incorporated November 1, 1899, and took over the properties on January 1, 1900.
Charles M. Heald of the C&WM and DGR&W was president of the Pere Marquette with William W. Crapo of the F&PM as chairman of the board of directors. On February 1, 1900, the new company acquired the Saginaw, Tuscola and Huron Railroad, which had been built in 1881-86 by investors associated with the F&PM.
Read more about this topic: Flint And Pere Marquette Railroad