PC: RDG locomotives

["Gerhard A. Stuebben" <stuebben@xxxxxxxxx>]

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.

Gary Stuebben