▁Rail road ▁agreed ▁to ▁purchase ▁all ▁the ▁deb t ▁and ▁stock ▁of ▁the ▁road ▁on ▁January ▁ 1 , ▁ 1 8 9 6 . ▁The ▁NY P & O ▁was ▁re organ ized ▁on ▁March ▁ 1 6 , ▁ 1 8 9 6 , ▁as ▁the ▁N yp ano ▁Rail road ▁Company . ▁The ▁Er ie ▁continued ▁to ▁le ase ▁the ▁C & M V ▁as ▁well . ▁This ▁latest ▁le ase ▁gave ▁the ▁Er ie ▁control ▁of ▁the ▁road ▁until ▁March ▁ 1 , ▁ 1 9 6 2 , ▁in ▁exchange ▁for ▁an ▁annual ▁rent ▁of ▁$ 5 1 4 , 1 8 0 ▁($ ▁in ▁ ▁dollars ). ▁ ▁A ▁number ▁of ▁changes ▁were ▁made ▁to ▁the ▁C & M V ▁over ▁the ▁next ▁ 3 5 ▁years . ▁The ▁rail road ▁was ▁real igned ▁between ▁Hub b ard ▁and ▁Ch est nut ▁R idge ▁( Count y ▁Highway ▁ 1 2 ▁to ▁the ▁n ortheast ), ▁and ▁several ▁tight ▁curves ▁improved . ▁The ▁Sh aron ▁Railway ▁purchased ▁the ▁New ▁Castle ▁and ▁Sh en ango ▁Valley ▁Rail road ▁in ▁November ▁ 1 9 0 0 , ▁finally ▁giving ▁the ▁C & M V ▁a ▁connection ▁to ▁New ▁Castle . ▁On ▁January ▁ 1 , ▁ 1 9 0 1 ▁( ret ro active ▁to ▁December ▁ 1 , ▁ 1 9 0 0 ), ▁the ▁N yp ano ▁le ased ▁the ▁Sh aron ▁Railway ▁for ▁ 9 0 0 ▁years . ▁The ▁new ▁le ase ▁allowed ▁the ▁C