Chicago and North Western Transportation Co. - Railroad Stock Certificate

Stock printed by American Bank Note Compay. On July 1, 1968, the 1,500 mi (2,400 km) Chicago Great Western Railway merged with the North Western. This railroad extended between Chicago and Oelwein, Iowa. From there lines went to the Twin Cities, Omaha, Nebraska, and Kansas City, Missouri. A connection from Hayfield, Minnesota, to Clarion, Iowa, provided a Twin Cities to Omaha main line. The Chicago Great Western duplicated the North Western's routes from Chicago to the Twin Cities and Omaha, but went the long way. This merger provided access to Kansas City and further eliminated competition. After abandoning a plan to merge with the Milwaukee Road in 1970, Benjamin W. Heineman, who headed the CNW and parent Northwest Industries since 1956, arranged the sale of the railroad to its employees in 1972; they formed Northwest Industries to take over the CNW in 1968.^[5] The words "Employee Owned" were part of the company logo in the ensuing period. The railroad was renamed from Chicago and North Western Railway to Chicago and North Western Transportation Company. The railroad's reporting marks (CNW) remained the same.

After the Chicago, Rock Island and Pacific Railroad (Rock Island) ceased operating on March 31, 1980, the North Western won a bidding war with the Soo Line Railroad to purchase the roughly 600-mile (970 km) "Spine Line" between the Twin Cities and Kansas City, Missouri, via Des Moines, Iowa. The Interstate Commerce Commission (ICC) approved North Western's bid of $93 million on June 20, 1983. The line was well-engineered, but because of deferred maintenance on the part of the bankrupt Rock Island, it required a major rehabilitation in 1984. The company then began to abandon the Oelwein to Kansas City section of its former Chicago Great Western trackage, which duplicated Spine Line service. In 1985, the CNW Corporation was formed to take over the Chicago and North Western Transportation Company; the employee-owned stock of the Chicago and North Western Transportation Company was transferred to the new CNW Corporation.

In 1988, the Blackstone Capital Partners, L.P. formed the Chicago and North Western Acquisition Corporation to purchase the CNW Corporation; the CNW Corporation was acquired by Blackstone Capital Partners under the Chicago and North Western Acquisition Corporation subsidiary from the employee owned stock; Blackstone Capital Partners controls the CNW Corporation and the Chicago and North Western Transportation Company under the Chicago and North Western Acquisition Corporation subsidiary. Chicago and North Western Holdings Corporation (or "CNW Holdings Corporation" and "Chicago and North Western Holdings Company") was formed and took control of the Chicago and North Western Acquisition Corporation, which controlled the CNW Corporation and which the CNW Corporation controlled the Chicago and North Western Transportation Company. Read more at https://en.wikipedia.org/wiki/Chicago_and_North_Western_Transportation_Company

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