Railroad History
Early Years
Founded more than 100 years ago, Genesee & Wyoming's beginnings were modest --- a single, 14.5-mile railroad transporting salt from a family-owned mine in western New York State. The track was purchased by Edward Laton Fuller in 1899 and served to transport salt from Greigsville through Retsof to Caledonia. Over time, the G&W connected with the Delaware, Lackawanna & Western, the Lehigh Valley Railroad, the Erie, the New York Central and the Buffalo, Rochester & Pittsburgh.
Within ten years of Fuller's purchase, the G&W included a fledgling passenger division and annually carried some 10,000 tons of local products, including hay, grain, apples, beans, cabbages and lumber to connecting lines, along with approximately 221,300 tons of salt. In 1910, the railroad brought in 1,500 tons of mining equipment along with 7,000 tons of coal and 1,470 tons of manufactured goods, including furniture, clothing, foodstuffs and musical instruments for delivery to the Retsof Mining Company Store.
In 1917, in the shadow of WWI President Woodrow Wilson took control of some 800 short line railroads and 35,000 miles of track in the U.S. During the highly regulated years that followed, the G&W found itself hauling thousands of tons of salt for the war effort. It was used for salted meats during World War I and, during World War II, not only for food but also for use in rubber tires, iron ore, bleaching materials and anti-knock additives for gasoline.
Challenging the Future
By 1977, the G&W had helped the International Salt Company grow into a major corporation, with the Retsof mine becoming the largest salt mine in the world. However, the railroad remained highly dependent on a single commodity and one primary shipper. In addition, the bankrupt northeast rail system was facing a questionable future. Many began to wonder if a rail system, which had been taken over by the Federal government, could be returned to the private sector. Diversification and leadership were sorely needed.
Restructuring in the 1980s
Mortimer B. Fuller III, great grandson of Edward L. Fuller, marked a new beginning and a promising future for the little short line. He focused his energy on opportunities for growth. His determination, along with a crucial legislation, the Staggers Act of 1980, provided impetus for systemic change. The Act deregulated railroads and allowed them to dispose of routes they could not operate profitably, helping them to restore their financial health. Acquiring these rail lines fit into Fuller's plan to spin a corporate evolution away from the railroad's vulnerable dependence on a single customer. He helped lenders recognize the investment opportunity associated with these rail lines and the role they could have in America's future.
Expansion
Between 1982 and 1996, Genesee & Wyoming expanded its enterprise to 14 railroads with operations in New York, Pennsylvania, Louisiana, Oregon and Illinois. In 1996, the Company added an industrial switching company that operated in more than a dozen states. As the Company's domestic expansion was under way, new opportunities abroad became equally compelling. Many governments, encouraged by a world economy, began stemming their losses in the operation of public utilities and railroads through privatization. For expertise, they turned to the U.S., which, along with Canada, had the only broad-based, private freight rail systems in the world. International opportunities arose for Genesee & Wyoming in Canada, Australia, Mexico and Bolivia --- opportunities we recognized as a means to create long-term value for our shareholders.
A Tradition of Excellence
We have more than 2800 employees and shipped more than 90 million tons of goods in the year 2002.