The Wall Street Journal reports that NS will purchase the CNO&TP from its owner, the City of Cincinnati.
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While the lease provisions are private between the parties, if some portion of them is tied to any revenue activity, this will likely be considered a smart move by Topper.
"Once upon a time", this route hosted the New Royal Palm"; a Detroit-Miami train.
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Norfolk Southern Corp. said it plans to acquire Cincinnati Southern Railway, a railway line that it currently leases from the city of Cincinnati, for around $1.62 billion.During the "Dark Ages", or circa '65, the SRY made substantial "Leasehold Improvements" to this line. As reported by TRAINS, this involved "daylighting" or "digging out" the numerous tunnels along this line named the "Rat Hole".
The Atlanta-based railroad said the link is one of the highest-density segments of the company’s network, with as many as 30 trains a day traveling the route. The purchase of approximately 337 miles of railway line that extends from Cincinnati to Chattanooga, Tenn., eliminates uncertainty around future lease costs, Norfolk Southern said.
While the lease provisions are private between the parties, if some portion of them is tied to any revenue activity, this will likely be considered a smart move by Topper.
"Once upon a time", this route hosted the New Royal Palm"; a Detroit-Miami train.