could be carried out. The Richmond and York River Railroad Company defaulted in the payment of its interest charges and its mortgages were foreclosed on December 16, 1872. The purchasers of all the property and franchises of the company as of May 2, 1873, under a deed dated July 4, 1873, reorganized the railroad under the general law of Virginia as the Richmond, York River and Chesapeake Railroad. A new first mortgage on the railroad line, dated October 15, 1873, to secure $400,000 of bonds due January 1, 1894, later extended to January 1, 1910, was given to William P. Clyde, Isaac Davenport, Jr. and John Stewart, Trustees. The purchasers were mainly interested in connecting the railroad with their steamer lines on the Chesapeake Bay and they started a regular service between West Point and Baltimore, Maryland. Under an act of the Virginia General Assembly approved February 28, 1874, the Richmond, York River and Chesapeake Railroad was authorized to acquire stock in the connecting water line, the Baltimore, Chesapeake and Richmond Steamboat Company, a Maryland corporation. The through rail and water line between Richmond and Baltimore was known as the "York River Line." Clyde interests; water line connection In 1873, the Richmond, York River and Chesapeake Railroad and the Richmond and Danville Railroad built a connecting line between their termini in Richmond. On April 8, 1875, the two railroads and the steamboat company entered into a traffic agreement under which the rail and water lines became part of the Piedmont Air-Line for through business to and from the Southern United States. This agreement introduced the Clyde interests into the business of the Richmond and Danville Railroad. These interests obtained control of the Richmond and Danville by purchase from the Southern Railway Security Company, which had been formed by the Pennsylvania Railroad Company in 1880. The Virginia General Assembly authorized the railroad to issue additional bonds in an act approved March 4, 1880 in order to extend the terminal facilities at West Point. A second mortgage, dated November 10, 1880 to secure $500,000 of bonds due November 1, 1900, later extended to November 1, 1910, was given to William P. Clyde, Isaac Davenport, Jr. and John Stewart, Trustees. Richmond and Danville Railroad lease The Clyde interests obtained control of the Richmond and Danville Railroad in 1881. An act of the Virginia General Assembly approved July 11, 1870 already had authorized the