A Collection in
Special Collections, Virginia Polytechnic Institute and State UniversitySpecial Collections
P.O. Box 90001
Blacksburg, Virginia 24062-9001
Phone: (540) 231-6308
Fax: (540) 231-3694
2010 By Virginia Polytechnic Institute and State University. All rights reserved.
Processed by: John M. Jackson, Special Collections Staff
Collection is open for research.
Permission to publish material from the Norfolk and Western Railway Company Mortgage Bond Book must be obtained from Special Collections, Virginia Tech.
Researchers wishing to cite this collection should include the following information: Norfolk and Western Railway Company Mortgage Bond Book, Ms2010-077, Special Collections, Virginia Polytechnic Institute and State University, Blacksburg, Va.
The Norfolk and Western Railway Company Mortgage Bond Book comprised part of a larger railroad-related collection purchased by Special Collections in 2009. The remainder of the acquisition of which this volume was a part was divided among the Chapman J. French Papers (Ms2009-034), the Norfolk & Western Railway and Associated Companies Collection (Ms2009-037), the Norfolk and Western Railroad Account Ledgers (Ms2010-075), and the Wayne Perkins Collection (Ms2009-078).
The processing and description of the Norfolk and Western Railway Company Mortgage Bond Book commenced and was completed in October 2010.
The Norfolk & Western Railway was established through a reorganization of the bankrupt Norfolk and Western Railroad in 1896, the latter company itself having arisen from the Atlantic, Mississippi & Ohio Railroad, a successor to the Norfolk and Petersburg Railroad. In order to raise capital to pay off debt, meet its payroll and other obligations, and make continued improvements to the line, the new company issued $23 million in preferred stock, $66 million in common stock, and $62.5 million gold bonds paying four percent, secured through a consolidated mortgage to the Mercantile Trust Company of New York.
Through expansion and various mergers, the N&W grew to become a major U.S. carrier, serving 14 states. The company manufactured steam locomotives at its own Roanoke Machine Works (established in Roanoke, Virginia in 1882), and among the railroad's affiliated holdings were several hotels. In 1982, the N&W combined with the Southern Railway to form Norfolk Southern Corporation.
This collection consists of a single ledger volume bearing the title "Norfolk & Western Railway Co. Transfer Book No. 1 Register & Ledger: Coupon First Consolidated Mortgage Four Per Cent Gold Bonds." The volume is dedicated to the sale and transfer of the company's gold bonds, secured through a consolidated mortgage to the Mercantile Trust Company of New York.
The ledger is divided into several sections. The first section consists of a register of sales and transfers of coupon bonds--arranged in chronological order--bearing the names of purchasers, the numbers of the individual bonds purchased, and the dates of purchase in chronological order. Also affixed in this section are correspondence and legal documents relating to the transfer of indivdidual bonds. The second section appears to be an abstract of the first, listing in chronological order the date of purchase, name and residence of bondholder, amount paid for each bond, and date of transfer. The third section consists of an accounting record, providing dates, descriptions and amounts of transactions. The final section is arranged by name of bondholder and includes dates and amounts of bond transfers.