Re: (erielack) Conrail did not buy Erie-Lackawanna..!

["Walt Fles" <eriewalt_@_hotmail.com>]

Check out this Brick pattern I previously mentioned.
Im sure the Griffith Town Council didn't get copyright permission for the
walk trail!
http://www.railfan.net/cgi-bin/listphoto.cgi?/lists/erielack-photo/erielack-
02-11-02/elbrick.jpg
- ----- Original Message -----
From: "Ken" <erie910_@_harborbeach.com>
To: "William Gallagher WA3RA" <ks3y_@_prodigy.net>;
<intercityrailpal_@_netscape.net>; <erielack@lists.railfan.net>
Sent: Friday, July 26, 2002 7:51 AM
Subject: Re: (erielack) Conrail did not buy Erie-Lackawanna..!


> Paint the E-L logo on the van!
>
>
> Ken B.
>
> At 11:46 PM 7/25/02 -0400, William Gallagher  WA3RA wrote:
>
> >The EL finally paid all of its bonds in 1992, and dissolved at that time.
It
> >was the only fallen flag to settle all of its obligations.
> >
> >There were residuals after all was said and done, and they were
distributed
> >to the shareholders. My last check came from Pru-Bache along with my
> >cancelled certificate. As I recall, it bought a good dinner at Cooper's,
and
> >made a down payment on a new van, so it was a few cents per share!
> >
> >I also sent my proxy for continuing the company, but the majority
> >shareholders (holding companies and trust funds) had already decided that
it
> >was going away, and the final meeting and vote was a forgone conclusion.
> >
> >I still have the now ten-year old van, by the way...so I guess that I
still
> >have a tangible asset courtesy of the corporation!
> >
> >Bill G.
> >----- Original Message -----
> >From: <intercityrailpal_@_netscape.net>
> >To: <erielack_@_lists.railfan.net>
> >Sent: Thursday, July 25, 2002 11:05 PM
> >Subject: (erielack) Conrail did not buy Erie-Lackawanna..!
> >
> >
> > > Dear E-L friends, Conrail did not buy Erie-Lackawanna...they brought
the
> >rail assets they wanted. If you brought the corporation you would be
buying
> >their problems, and have to deal with their stockholders.You'd get the
> >trademarks of a failed business. Trademarks...I don't know about any new
> >laws in the 1970's. But the only railroads that trademarked their logo's
> >that I know of, were the Chesapeake and Ohio and The Santa Fe.The weary,
> >Erie was not one of them. (Just my opinion.)
> > >
> > > Erie-Lackawanna as much as we feel this is the perfect railroad. Was
not
> >...I guess the term is ...a clean corporation. There were issues....which
> >came up in the past 100 years which were still going on, in 1992.
> > >
> > > If you found the largest shareholder, and brought their shares.
Perhaps,
> >you could go to the Ohio court that ordered the liquidation, and open the
> >corporation again!Here's a question for the group....Who was the largest
> >shareholder? It wasn't me. I just had one share to follow...the company
to
> >the end. (It also looks great over my desk, on the wall.)I still have the
> >last check. It was for a few cents. The management would sell a asset,
pay
> >themselves...shareholders got what was left. There was a movement to
> >continue the company. I voted for that. It failed!To my knowledge all the
> >outstanding bonds were paid off. Conrail paid ....what? six humdred
million
> >dollars for the rail assets. I'm not sure of this amount. There was lots
of
> >money to continue the company!....
> > > I really doubt...it's just my opinion here, Conrail would want any
> >connection with Erie-Lackawanna.Lackawanna Lance
> > >
> > >
> > > __________________________________________________________________
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> >
> >
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