the efforts to rebuild the N&P and its connecting railroads, funded with money from British bondholders. By 1870, he controlled all three, renamed jointly as the Atlantic, Mississippi and Ohio Railroad (AM&O). There is ample evidence that Mahone had become aware of the potential wealth represented by untapped bituminous coal reserves in southern West Virginia, and had planned a fourth railroad and acquired land to capitalize upon them. However, the Financial Panic of 1873 forced the AM&O into defaulting on its bonds and delaying any thoughts of expansion. After several years of receivership, the bondholders lost confidence in Mahone and he lost control of the AM&O. It operated under receivership for a number of years and Mahone struggled to obtain adequate financing to regain control. Finally, in 1881, it was sold at auction, but Mahone was outbid. Instead, Philadelphia interests won and renamed as the Norfolk and Western Railway (N&W). (Mahone went on to a career in Virginia and national politics and saw to it that some of the proceeds from the sale of the state's portion of the investment in what had been "his" railroad went to build a school for blacks which ultimately became Virginia State University (VSU), near Petersburg). The new Philadelphia owners were also keenly aware of the opportunities represented by southern West Virginia coal, where they owned much land. Soon, under the leadership of Frederick J. Kimball, they set about extending their lines west from the New River Valley to reach them. The first carload of coal arrived in Norfolk and Western's Eastern Branch Terminal in 1883. Many more were to follow, and soon it was apparent that a larger facility for loading the coal onto ships would be needed. Land was acquired in Norfolk County just outside the City of Norfolk on the harbor. Facilities were developed there, and the first of many coal piers to come opened at Lambert's Point in 1886. The N&W tracks were extended directly to the new coal piers at Lambert's Point upon their completion. A residential section was also developed to house the families of the workers. Many early residents of Lambert's Point were involved in the coal industry. By 1900, Norfolk was the leading coal exporting port on the East Coast. The area including Lamberts Point was annexed by the city of Norfolk in 1911. Norfolk and Western expanded greatly, and in the 1980s, the Class 1