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PC: RDG locomotives
- Subject: PC: RDG locomotives
- From: "Gerhard A. Stuebben" <stuebben@xxxxxxxxx>
- Date: Mon, 27 Jul 1998 20:01:51 -0700
Bill K wrote:
> Was the RDG bankrupt? they bought new engines on their own as late as '74
> (where the LV got engines with USRA financing). I know C&O took a beating
> dumping their shares of RDG stock.
The RDG was in such bad shape that near the end (1975), they didn't have
enough cash to pay their employees. On payday, employees received both
a check (small) and a promissory note for the balance. I don't know when
or if those notes were redeemed.
Of course, like most other railroads, the RDG didn't really buy their
locomotives, they leased them.
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