FreightWaves Classics: Central of Georgia Railway persevered (Part 2)
The acquirer is acquired but continues to grow The Central of Georgia was acquired by the Richmond Terminal Company in 1887. The new company issued overvalued bonds based on the good credit of the Central. This resulted in huge corporate debts. Under its new ownership, the Savannah & Western Railroad (S&W) was founded in 1888 as a Central subsidiary. It acquired several small railroads, pushing further into Alabama and across the Tennessee border. Shortly after it was founded the S&W purchased...
Source: railpage.com.au