NW Craig Valley Branch -- Almost

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Been going through the first 89 pages of the Virginia chartered Craig Company ledger books (Craig Company became part of C&O in 1890 which lead to the C&O Craig Valley Branch being built to from New Castle Eagle Rock). Even though the R&A Rr had built a bridge over the James River at Bessemer/Eagle Rock, it appears that between 1884 and 1887 the Craig Company was leading towards a route down to Roanoke or Salem to connect with the N&W which they considered more financially stable. A Roanoke Syndicate of investors was formed to obtain ROW and mineral rights along their proposed route and the City of Roanoke Council voted to purchase shares of the Craig Company to show good faith. A Roanoke Construction Company was formed to build a line between New Castle and Roanoke, and $600,000 was put into escrow. There appeared to be problem with obtaining General Herman Haupt's 4,000 acres of property. The Roanoke Construction Company failed to meet its start of construction date and then closed its books and bank account in late 1887. 

More to come once I receive the remaining 11 x 17 copies of the 1887-1889 ledger book pages dealing with the Craig Company's involvement then with the R&A Rwy Receivership, and eventually C&O involvement . . . . and then the C&O purchasing the R&A Rwy Receivership and Craig Company with its ROW properties. 

The "syndicate" would continue to pursue a route to New Castle even after the C&O Craig Valley Branch was built . . . until the "easy iron ore fields" were dug out and mining operations would have to go underground to get lower percentage of Ferrite ore. 

Al Kresse 
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