(erielack) EL C425's

["David J. MV" <dmvgvt_@_earthlink.net>]

BCOL brought out the lease from the leasing company on all 12 C 425's. With
6 of them surviving on GVT's roads. 2453 @ Utica, 805 (2455) at Scranton for
upgrade, 806 (2456) at Utica, 804 (2454) Lowville/ Carthage, 2461 and 2452
in EL paint at Scranton. 2452 is in the shop getting its main generator and
charging system worked on and should be back on the road after a number of
months out of service.   Regards David MV


- ----- Original Message -----
From: "Bill K." <pontiac_@_dreamscape.com>
To: <erielack_@_lists.railfan.net>
Sent: Tuesday, October 02, 2001 8:54 AM
Subject: Re: (erielack) EL U-boats


> The lessor is the company which financed them, IE that which the railroad
> leases the unit from - often a bank or someone with a financial interest
in
> the RR, they actually owned the locomotives and the EL (and most
railroads)
> made payments on them - probably not much different than when you lease a
> new car, though that could be an oversimplification.   At the end of the
> lease the RR has the option to purchase the units, for a lot less than
they
> would have been brand new.   N&W, through Dereco, financed a lot of EL
> units - including one order of SDP45's and one or both orders of big GE's.
> They actually owned the locomotives, so when Conrail retired them it was
by
> then NS who ended up with them to dispose of.  NS ran the last miles out
of
> them before trading them in on new power.  This is why the one unit
wrecked
> in the Water Gap ended up as an N&W slug and also why NS is who donated
the
> one that's in Roanoke today.   As for the U-boats, they were all traded
into
> GE.  I forget which (of U33 or U36) but three were then rebuilt by GE as
> cabless remote control units of some sort that were shipped to China.  Was
> it the ELHS who got GE to let them restore the EL lettering on one for
> photos before it was cut up/rebuilt?  In any case, current status of those
> three is unknown.  But I want to say they were from the N&W financed
group.
>
> As Conrail rationalized it's system and purchased newer units they had a
lot
> of power which became surplus, and for various reasons was not needed at
the
> end of the leases.  This included a lot of GP40's, GP38's (and dash-2's),
> SD/SDP45's, and most of the U-boats.    So they were left to the
leaseholder
> to dispose of.   I think that some of the units were let go as high
> maintenance (SD/SDP45's), as junk (GE U28/30/33B in particular) but others
> may have had more to do with the terms of the lease (GP38/40) since some
of
> those units were picked up when the predecessor roads were in bad shape
and
> had to take whatever terms they could get. Penn Central units in
particular
> seem to have been picked on for this reason.  As a result, dual-control
> units built for the PR-SL ended up in both Maine (BAR) and California
> (Eureka Southern), and GP40's built for the NYC ended up as far away as
> Alaska.  The other group of SDP45's sat in Sayre PA for a while, and it
was
> these that ended up at VMV, MK, etc. and from which the three that became
SP
> SD40-2M's came.  There are a lot of other examples like these, some NYS&W
> units for instance; and you could write a book on the games Guilford has
> played with various power.
>
> EL stopped paying on the lease on the C425's, which is why they didn't go
to
> Conrail.  The leaseholder (seems like it was a bank on these) reposessed
> them and cut a deal with BCR instead - not sure if BCR bought them
outright
> or leased to buy, though (DMV might have an answer for this?).  But they
> worked their way west to Canada just before Conrail.
>
>
> Bill K.
>
> ----- Original Message -----
> From: <ELRRco_@_aol.com>
> To: <erielack_@_lists.railfan.net>
> Sent: Tuesday, October 02, 2001 1:25 AM
> Subject: (erielack) EL U-boats
>
>
> > Dear Listers,
> >
> > Who was the "Lessor" for EL's U36C engines? A website that I browsed
> recently
> > stated that in 1986 they were returned to the lessor by Conrail. That
> leads
> > me to my second question: What became of them following their operation
by
> > Conrail? Do any survive?
> >
> > Thanks in adavnce,
> >
> > Phil
> > ELRRco_@_AOL.com
> >
>

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