Is "Parent Company" a Misnomer?
NW Mailing List
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Sun Oct 7 23:33:32 EDT 2007
>To me, the crux of the matter is in his question: "... kept their
>hands off ..."
>The implied meaning of that line is that Pennsy choose to keep its
>hands off N&W matters.
Good question Jimmy and a great response from Bob.
I would like to point out the following information from the December
1955 issue of the Official Guide. From the list of Executive Officers
of the N&W.
L. W. Cox, VP of N&W in charge of finance - office location Philadelphia, PA
W, H. Odgen, Secretary of N&W - office location Philadelphia, PA
G. C. Armstrong, Asst. Treasurer and Asst. Secretary - Office
location Philadelphia, PA
Guess you have heard the saying "The hand that rocks the cradle etc.
---- --- -----".
The above office locations would indicate the PRR was very much in
control of the money and stock holder interest. Now this does not
imply the PRR was in direct control of day to day operations or in
control of freight rates that produced the revenue. To their credit,
they perhaps left this to the executives in Roanoke. But, when you
control the money and stock holder interest, you would rule the
world, or in this case the N&W railway.
I started to work for the N&W in 1960, the Philadelphia executives
were transferred to Roanoke around 1964.
What is your opinion?
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