Digest: UP rings Closing Bell to celebrate 150 years on stock exchange

News Wire Digest for Sept. 16: NJ Transit breaks ground on Raritan River bridge; three arrested in alleged second theft attempt at Reading & Northern yard
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CEO Lance Fritz (with fist raised) and Union Pacific employees celebrate virtually ringing the New York Stock Exchange closing bell to mark the company's 150 years on the exchange.
Union Pacific

Wednesday morning rail news:

UP rings Closing Bell, marking 150 years on stock exchange

Union Pacific rang the Closing Bell virtually Tuesday at the New York Stock Exchange, celebrating the 150th anniversary of the company’s listing on the exchange. “It is an honor to celebrate this historic milestone and the company’s ascension to the longest-listed transportation company and largest railroad traded on the New York Stock Exchange with the financial community and our dedicated employees,” Union Pacific CEO Lance Fritz said in a press release. “Their relentless focus on our customers is transforming Union Pacific more than 150 years after President Abraham Lincoln founded our company.” The company initially traded at less than $27 per share, and over its time on the exchange has had seven stock splits and paid dividends for 121 consecutive years. Video of the event is available here.

NJ Transit breaks ground on new Raritan River bridge
New Jersey Gov. Phil Murphy, NJ Transit CEO Kevin Corbett, and numerous elected officials were on hand Thursday in South Amboy, N.J., for groundbreaking on the Raritan River Bridge replacement project, a $595 million undertaking to replace a 112-year-old structure. The Bridgewater Courier News reports the new bridge will replace a swing-span bridge carrying NJ Transit North Jersey Coast trains that was heavily damaged by Superstorm Sandy. The bridge was completely submerged during the storm, knocking rails out of alignment, damaging bearings, and washing out the supporting embankment. The project, approved by the NJ Transit board in May [see “Legal challenge continues for Maryland’s Purple Line,” News Wire Digest, May 14, 2020] is expected to be complete in 2024.

Three arrested in Reading & Northern yard theft
Three men have been arrested after allegedly returning for a second theft of wire from a Reading & Northern railroad yard in Hamburg, Pa. The Reading Eagle reports that two nights after the theft of copper and aluminum cables from the yard, which also houses the Reading Railroad Heritage Museum, Hamburg and railroad police — believing a second theft was possible — staked out the site and arrested the three men after a foot pursuit. They face felony counts of institutional vandalism and flight to avoid apprehension, and misdemeanor charges of theft by unlawful taking and damaging railroad property.
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