page_title: Lehigh Valley Railroad
section_title: 1921–1930
hierarchical_section_title: Lehigh Valley Railroad / History / 1921–1930
caption_attribution_description: English: Gold Bond of the Lehigh Valley Railroad Company, issued 22. November 1922 Deutsch: Gold Bond über 1000 $ der Lehigh Valley Railroad Company vom 22. November 1922
context_page_description: The Lehigh Valley Railroad was one of a number of railroads built in the northeastern United States primarily to haul anthracite coal. The railroad was authorized on April 21, 1846, for freight and transportation of passengers, goods, wares, merchandise and minerals in the U.S. state of Pennsylvania and the railroad was incorporated/established on September 20, 1847, as the Delaware, Lehigh, Schuylkill and Susquehanna Railroad Company. On January 7, 1853, the railroad's name was changed to Lehigh Valley Railroad. It was sometimes known as the Route of the Black Diamond, named after the anthracite it transported. At the time, anthracite was transported by boat down the Lehigh River; the railroad was meant to be faster transportation. The railroad ended operations in 1976 and merged into Conrail along with several northeastern railroads that same year.
  During its existence, the Lehigh Valley Railroad used a rail line that later became known as the Lehigh Line in order for it to operate.
context_section_description: Throughout the 1920s the railroad remained in the hands of the Morgan / Drexel banking firm, but in 1928 an attempt was made to wrest control from them.  In 1927, Leonor Fresnel Loree, president of the Delaware and Hudson Railroad, had a vision for a new fifth trunk line between the East and West, consisting of the Wabash Railroad, the Buffalo, Rochester and Pittsburgh Railway, and the LVRR.  Through bonds issued by the D&H, he obtained 30% of the LVRR stock, and won the support of nearly half the stockholders.  In 1928, he attempted to seat a new President and board.  A massive proxy fight ensued, with existing President Edward Eugene Loomis narrowly retaining his position with the support of Edward T. Stotesbury of J. P. Morgan.
  Following the defeat of its plan, the D&H sold its stock to the Pennsylvania Railroad.  In the following years, the Pennsylvania quietly obtained more stock, both directly and through railroads it controlled, primarily the Wabash.  By 1931, the PRR controlled 51% of the LVRR stock.  Following Loomis' death in 1937, the presidency went to Loomis' assistant Duncan J. Kerr, but in 1940 he was replaced by Albert N. Williams, and the road came under the influence of the PRR.  In 1941, the Pennsylvania placed its shares in a voting trust after reaching an agreement with the New York Central regarding the PRR's purchase of the Wabash.
caption: Gold Bond of the Lehigh Valley Railroad Company, issued 22. November 1922
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