Re: (erielack) Alco Farewell / Economy Changes

[walter smith <wsmith5957_@_yahoo.com>]

    Very concise, Tim....Thanks.  I'm just pissed that I didn't know about the 
auction. 

  I WAS lucky enuf to be giving an AMTRAK friend a tour of Hoboken when the 
Company was throwing out all the stuff from the legal dept on the 2nd floor of 
the Terminal. They'd cut a hole in the floor and put a dumptruck under it (in 
one of the roads to the ferries) and would get an old wooden filing cabinet on a 
dolly and 'CRASH' into the dumptruck. I sent my pal to get boxes and we filled 
them and lugged them onto one of the AMTRAK trains in Newark. Man, it was a 
circus....there was a fleamarket dealer and a EL conductor taking stuff from the 
drawers trying to beat the laborers. That's where those 1918 track blueprints of 
the ERIE came from that I finally sold on the list after my wife threatend me 
with torture if I didn't get them out of the front bedroom closet. 

      I wish I'd had the brains to tell Bill to get a rental truck & then bribe 
the laborers to load it up. Can u imagine what one of those oak 5-drawer filing 
cabinets is worth now.....not to mention the contents. Well - at least the old 
blueprints have found good homes. Think of what was lost, tho. The laborers were 
taking it all to 'the Meadows' to be burned. Kind of like the remnants of Penn 
Station.

Walt Smith



________________________________
From: Tim Stuy <njmidland_@_verizon.net>
To: EL Mail List <erielack_@_lists.railfan.net>
Sent: Mon, December 13, 2010 2:59:27 PM
Subject: Re: (erielack) Alco Farewell / Economy Changes


That is correct.  The estate of the L&HR sold off the remaining assets,
mainly the Warwick office building and various real estate not taken by
Conrail.  In 1982 they had a huge auction in Warwick where they essentially
sold off the contents of the building.  I was there and bought a lot of neat
stuff.  Walter Rich of Delaware Otsego fame, brought a truck and bought a
lot of the really nice office furniture.  He got the prize fan item, a 16 mm
film that the L&HR had done of the conversion from steam to diesel.  I spoke
with someone up there about 2 years ago and they are aware of it and may
eventually release it on DVD as a fund raiser for the Walter Rich museum in
Franklin, NY.

Once the settlement came from the federal government for what was taken by
Conrail, the L&HR paid off all of its debts at 100 cents on the dollar and
had cash left to pay the stockholders about $68 per share.  95% of the stock
was owned by its connections, including about 25% owned by EL.

Tim

On Mon, Dec 13, 2010 at 2:46 PM, Tupaczewski, Paul R (Paul) <
paul.tupaczewski_@_alcatel-lucent.com> wrote:

> > Nothing so far on what happened to L&HR, other then merged
> > into Conrail.
>
> I thought I recently read an old Block Line from the 1980s that showed
> everything from the L&HR offices and their stockholders were paid for their
> shares of the company, effectively dissolving the corporation.
>
>        - Paul
>
>        The Erie Lackawanna Mailing List
>        http://EL-List.railfan.net/
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>


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