Is "Parent Company" a Misnomer?
NW Mailing List
nw-mailing-list at nwhs.org
Mon Oct 8 09:38:05 EDT 2007
--- NW Mailing List <nw-mailing-list at nwhs.org> wrote:
> Only to use this as the most recent example, in
> the reading the new "N&W Steam in Color" book, there
> are many references to the PRR as being the "Parent
> Company" of the N&W. Through the years, this seems
> to pop up any time the N&W and PRR are mentioned in
> one sentence.
> I feel this is a much overused (abused?)
> misnomer. Where is it written that the PRR had
> anything to do with the birth of the N&W? Does the
> fact that the PRR bought some N&W stock at some
> point in time automatically qualify the PRR to ask
> "Who's your Daddy"? If this parenting stuff had
> actually been true, then why is it also mentioned
> that the PRR kept their hands off what the N&W was
> doing?
> What do you think?
> Jimmy Lisle>
==========================
My understanding is that PRR owned at most 30% or so
of N&W stock. While with this much of N&W stock they
could wield some influence they would need to own over
50% of N&W stock to "control" N&W.
Mark Peele
Catonsville, MD
================================
N&W in N scale
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