The Pennsy's charter was supplemented on March 23, 1853, to allow it to purchase stock and guarantee bonds of railroads in other states, up to a percentage of its capital stock.
Several lines were then aided by the Pennsy in hopes to secure additional traffic.
By the end of 1854, the Pennsy purchased stock in the Ohio & Pennsylvania, Ohio & Indiana, Marietta & Cincinnati, Maysville & Big Sandy, and Springfield, Mt. Vernon & Pittsburgh railroads, totalling $1,450,000 (equivalent to $41.3 million in 2019).
The Steubenville & Indiana was assisted by the Pennsy in the form of a guarantee of $500,000 worth of bonds.
In 1856, a controlling interest was purchased in the Cumberland Valley Railroad and the Pennsy constructed additional lines in Philadelphia.
In 1857, the aforementioned Main Line of Public Works was purchased for $7,500,000 ($206 million in 2019).
The Pennsy's charter was supplemented on March 23, 1853, to allow it to purchase stock and guarantee bonds of railroads in other states, up to a percentage of its capital stock. Several lines were then aided by the Pennsy in hopes to secure additional traffic. By the end of 1854, the Pennsy purchased stock in the Ohio & Pennsylvania, Ohio & Indiana, Marietta & Cincinnati, Maysville & Big Sandy, and Springfield, Mt. Vernon & Pittsburgh railroads, totalling $1,450,000 (equivalent to $41.3 million in 2019). The Steubenville & Indiana was assisted by the Pennsy in the form of a guarantee of $500,000 worth of bonds. In 1856, a controlling interest was purchased in the Cumberland Valley Railroad and the Pennsy constructed additional lines in Philadelphia. In 1857, the aforementioned Main Line of Public Works was purchased for $7,500,000 ($206 million in 2019).
Pennsylvania Railroad