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From: "Jim Guthrie" jguthrie AT pipeline DOT com
Date: Tue, 9 Dec 2014 13:52:29 -0500
Subject: Re: (erielack) Nyack Means Business
"Northern_Letter_re_NY_Central.jpg" - image/jpeg, 612x748 (256c)

>for NRRNJ. I'm not sure what the exact financial arrangements were but when

The minute books of the Nyack and Northern, the Nyack and Southern and the
Northern RR of NJ are located in the Pennsylvania State Archives, and are
available for the railroad history researcher. They are only incidental to most
railfan interest, as they explain lots of the why's f rather than offer rosters
and rivet counts, but when corporate records are available, they are an
essential read for serious historians.

>the extension was built in 1869 the Northern was already under Erie
>control. It was a different era.

Well, the Erie didn’t really "control" the Northern -- it leased it from the
owners, who always had the ability to change the lease. They were apparently
wary of the promoters of the NYWS&B (prescient as it turned out ). But that's
what led to the effort to have the NYS&W take over as well as a proposal to the
New York Central around 1939.

I've attached the letter to the Bankruptcy Judge from Northern Trustee Conover
English for the benefit of those interested.

At some point, the Midland Society will probably reprint the prospectus
suggesting the NYS&W takeover, which might clear up some of this history
involved ( know a fair number of ELHS members are also members of the Midland
group).

In any case, it should be noted that in the Erie Bankruptcy, they also placed
the NJ&NY in bankruptcy with the same trustees as parent Erie in the Northern
District of Ohio. The transfer of the case to New Jersey with the appointment
of Peter Duryee came later -- and was the source of no little controversy over
the Erie Trustee's/Officers conflict of interest in later years.

OTOH, the Northern -- being financially independent of the Erie, had its own
bankruptcy with Conover English and Irving Reeves as Trustees from the get go.

I might add that one can’t always rely on contemporary newspaper accounts for a
variety of reasons. Some "reporters" were also [surreptitiously] on the payroll
of the railroads they "covered." Some others depended on rumors rather than
facts. Yet others, like many of today's reporters, hadn’t a clue as to what the
railroads were about or how the were financed or operated.

The value in newspaper accounts is often toward setting [approximate] dates for
various events in the history of a railroad. But as any good reporter knows,
it's best to have two or more sources .

Cheers,
Jim


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