ulf son , ▁who ▁came ▁from ▁the ▁M idd let own ▁and ▁New ▁Jersey ▁Rail road . ▁ ▁During ▁the ▁early ▁years ▁of ▁the ▁Verm ont ▁Railway , ▁money ▁was ▁spent ▁replacing ▁old ▁locomot ives ▁and ▁rolling ▁stock ▁the ▁rail road ▁had ▁inherited ▁from ▁the ▁R ut land . ▁It ▁bought ▁several ▁locomot ives , ▁both ▁new ▁and ▁used . ▁It ▁also ▁le ased ▁several ▁hundred ▁fre ight ▁cars . ▁ ▁The ▁rail road ▁continued ▁to ▁expand , ▁entering ▁the ▁inter modal ▁business ▁in ▁ 1 9 6 5 , ▁and ▁acqu iring ▁the ▁Clar end on ▁and ▁Pitts ford ▁Rail road ▁in ▁ 1 9 7 2 , ▁which ▁gave ▁V TR ▁access ▁to ▁a ▁lim estone ▁plant ▁near ▁Florence , ▁Verm ont . ▁V TR ▁retained ▁the ▁Clar end on ▁and ▁Pitts ford ▁name ▁as ▁a ▁separate ▁legal ▁entity ▁operating ▁the ▁acquired ▁track age . ▁In ▁the ▁late ▁ 1 9 7 0 s ▁several ▁senior ▁officials ▁died , ▁including ▁W ulf son . ▁The ▁rail road ▁gross ed ▁more ▁than ▁$ 2 ▁million ▁in ▁reven ues ▁for ▁the ▁first ▁time . ▁Net ▁ear nings ▁were ▁about ▁$ 2 0 , 0 0 0 ▁a ▁year , ▁which ▁was ▁spent ▁in ▁impro ving ▁the ▁rail road . ▁ ▁In ▁ 1 9 8 2 , ▁V TR ▁rep a id ▁the ▁state ▁of ▁Verm ont ▁for ▁the ▁track age ▁the ▁state ▁had ▁bought ▁in ▁ 1 9 6 4 ▁to ▁allow ▁V TR ▁to ▁begin ▁operations . ▁A ▁year ▁later ,