| Business Summary | | Pittsburgh
&
West
Virginia
Railroad
was
organized
in
Pennsylvania
in
1967
as
a
business
trust
for
the
purpose
of
acquiring
the
business
and
property
of
a
small
leased
railroad.
The
railroad
was
leased
in
1964
to
Norfolk
and
Western
Railway
Company,
by
the
Company's
predecessor
company,
for
99
years
with
the
right
of
unlimited
renewal.
The
Company's
business
consists
solely
of
the
ownership
of
the
properties
subject
to
the
lease
and
of
collection
of
rent
thereon.
The
rent
received
is
$915,000
per
year,
in
cash,
which
is
a
fixed
and
unvarying
amount
for
the
life
of
the
lease.
In
addition,
the
lease
provides
that
certain
non-cash
items
be
recorded
as
rent
income
each
year. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Pittsburgh
and
West
Virginia
Railroad
is
a
business
trust,
for
the
purpose
of
acquiring
the
business
and
property
of
a
small
leased
railroad.
The
railroad
was
leased
to
Norfolk
and
Western
Railway
Co.
under
a
99
year
lease
with
the
right
of
unlimited
renewal.
For
the
nine
months
ended
9/00,
revenues
remained
flat
at
$686
thousand.
Net
income
increased
less
than
1%
to
$625
thousand.
Results
reflect
decreased
general
and
administrative
expenses. | More
from
Market Guide: Significant
Developments |
| Officers | |
| Position | Herbert Jones, Jr., 80 | Chairman,
Trustee | Charles Jones, 82 | Pres,
Trustee | Virgil Wenger, 70 | Assistant
Sec., Assistant Treasurer, Trustee |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|