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Posted by Nate Clark
on November 2, 2009, 9:36 pm, in reply to "Re: Did the B&LE/USS operate with a holding company. "
72.65.224.85
Many pieces of railroad capital equipment have been/are leased through banks and other financial institutions. Locomotives and freight cars will often have an equipment trust plate, naming the institution and the date and lease agreement though which the equipment was acquired.
I have in my collection a cast steel trust plate that reads, "CHICAGO, BURLINGTON & QUINCY RAILROAD EQUIPMENT TRUST NO. 1 OF 1966 FIRST NATIONAL CITY BANK TRUSTEE, OWNER AND LESSOR". I don't know whether this trust was for locomotives or freight cars (it was for over $8 million), but that's a pretty 'typical' trust plate narrative. The lessors also issue corresponding documents that look like stock certificates. There would not have needed to be a holding company (nor am I aware of one ever existing) through which USS railroads acquired assets.
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