Scrap Metal Value of N&W Big Steam

[NW Mailing List]

On Mon, Jun 5, 2017 at 3:28 PM,
​Bob B.
 wrote:

I heard that a major reason for scrapping was for tax reduction.
>

Actually, it was Stuart Sanders who wanted to sweeten the value of N&W
stock before the Pennsy moved to unload its holdings. A number of years
ago, there was an in-depth analysis of the conversion from steam to diesel
by, I believe, Rober A. LeMassena in Trains magazine (but I have not been
able to find it in the online index). From what I remember, it made a good
case for why Sanders did what he did to quickly liquidate steam operations
for diesel.

Bruce in Blacksburg
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