The SP almost never made money after 1960 and perhaps earlier. The railroad, that is. The Corporation owned the railroad, the land grants and the various mineral, timber and ancillory rights, the pipelines, the truck lines and such. It was all of the rest of the stuff that kept the railroad afloat. When the ATSF and the SP planned to merge, everything except the railroad was acquired by the ATSF and when the merger was denied, that left the railroad there to support itself. It couldn’t, and that is why Anschutz was able to buy it. Any other railroad could have but was smart enough not to.
Phil Anschutz is no fool. Nor is he slow on the uptake. I don’t think he had the idea of becomming the majority stockholder of the UP when he first bought into the DRGW, and then the SP/SSW/SPCSL, but he certainly had it figured out later. The UP wanted the SP so badly that they let himbuy the UP.
Never on Wednesday is a great book. Also very recommend is Giant’s Ladder, the story of the Denver and Salt Lake and of a truly great man and hero for me, David Moffat. Also recommended are Narrow Gauge in the Rockies and Main Line through the Rockies. All are wonderful books with wonderful photographs. I’d put in a plug for Kalmbach at this point but someone might think I am just trying to get my articles published.
Another great book that would delight everyone on this thread is Westing’s Apex of the Atlantics, the story of the PRR E-6. Also excellent photographs and line drawings. If modelers want to superdetail an E-6, this is a must book.
Agreed[^]. The story is this…ATSF + SP = to separate roads in S.California. Then in the early 1980’s, ATSF+SP= talks of merger,then in 1985, ATSF+SP=SPSF, make Santa Fe Southern Pacific Corporation, start painting locomotives in yellow,red,and black.1986 ICC says no. SPSF is to split the SP[V]. DRGW sees an opportunity to buy the SP,and does with Anschutz ,and his vast oil investments and junk bonds from NY banks. then later in years,the UP[V],buys the SP and gets itself in alot of trouble with congested raillines, sidings and the STB. There are 4 books that tell alot about the DRGW and the SP, “Railroad Mergers: Insight and Analysis, by Simmons - Boardman Company, " SPSF 1986-1987 Motive Power Review”,“SP into the 90’s”; and “Southern Pacific Motive Power Pictorial 1987-1988 the Interim years” all three by Joseph W. Shine.