The Alabama Great Southern Railroad Company
Central of Georgia Railroad Company
The Cincinnati, New Orleans and Texas Pacific Railway Company
Georgia Southern and Florida Railway Company
Norfolk Southern Railway Company
Atlantic and East Carolina Railway Company
Birmingham Terminal Company
Camp Lejeune Railroad Company
Chattanooga Station Company
The Georgia Northern Railway Company
Interstate Railroad Company
Live Oak, Perry and South Georgia Company Railway Company
Louisiana Southern Railway Company
New Orleans Terminal Company
St. Johns River Terminal Company
State University Railroad Company (54%)
Tennessee, Alabama & Georgia Railway Company
Tennessee Railway Company
Airforce Pipeline, Inc.
Arrowood Southern Executive Park, Inc.
The Atlanta and Charlotte Air Line Railway Company
Atlanta Terminal Company
Blue Ridge Railway Company
Chattanooga Terminal Railway Company
Citico Realty Company
Danville and Western Railway Atlantic and North Carolina
Durham and South Carolina Railroad Company
Elberton Southern Railway Company
The Georgia Midland Railway
High Point, Randleman, Asheboro and Southern Railroad Company (86%)
Lenoir Car Works
Macon Terminal Company
Memphis and Charleston Railway Company
Mobile and Birmingham Railroad Company (78%)
The National Investment Company
Norfolk Southern Industrial Development Corp.
The North Carolina Midland Railroad Company (97%)
Ocean Steamship Company of Savannah
Southern Rail Terminals, Inc.
Southern Rail Terminals of Alabama, Inc.
Southern Railway-Carolina Division
Southern Region Coal Transport, Inc
Southern Region Distribution Services, Inc.
Southern Region Industrial Realty, Inc.
Southern Region Investment Company
Southern Region Materials Supply, Inc.
Southern Region Motor Transport, Inc.
South Western Rail Road Company (98%)
Terminal Properties, Inc.
Transylvania Railroad Company (97%)
Virginia and Southwestern Railway Company
Yadkin Railroad Company (74%)
NOTE: CONTROL 100% OR AS INDICATED
Algers, Winslow and Western Railway Company
Arrowood Corporate Center Associates
Atlantic and North Carolina Railroad Company
Augusta and Summerville Railroad Company
Beaver Street Tower Company
Central Transfer Railway and Storage Company
Chatham Terminal Company
Chattanooga Choo-Choo Company
The Cincinnati Union Terminal Company
l575 Eye Street Associates
Fruit Growers Express Company
Kentucky & Indiana Terminal Railroad Company
Norfolk and Portsmouth Belt Line Railroad Company
The North Carolina Railroad Company
North Charleston Terminal Company
Queen City Developers
Richmond, Fredericksburg and Potomac Railroad Company
7000 North Fairfax Street Limited Partnership
Terminal Railroad Association of St. Louis
Trailer Train Company
Woodstock & Blocton Railway Company
Cincinnati Southern Railway