▁form ▁the ▁new ▁Ch es ape ake ▁and ▁Ohio ▁( C & O ) ▁Rail road ▁( re organ ized ▁as ▁the ▁Ch es ape ake ▁and ▁Ohio ▁Railway ▁in ▁ 1 8 7 8 ), ▁and ▁W ick ham ▁was ▁elected ▁as ▁president . ▁W ick ham ▁realized ▁the ▁need ▁to ▁find ▁ade qu ate ▁finan cing ▁to ▁res ume ▁the ▁west ward ▁work ▁through ▁the ▁challeng ing ▁mountain ous ▁terrain , ▁as ▁the ▁Virginia ▁Board ▁of ▁Public ▁Works ▁was ▁no ▁longer ▁in ▁a ▁position ▁to ▁help ▁as ▁it ▁had ▁in ▁the ▁past . ▁After ▁failing ▁in ▁the ▁imp over ished ▁southern ▁states ▁and ▁with ▁British ▁invest ors , ▁W ick ham ▁found ▁new ▁capital ▁and ▁finan cing ▁by ▁rec ruit ing ▁Coll is ▁P . ▁Hun ting ton , ▁one ▁of ▁the ▁so - called ▁" Big ▁Four ", ▁a ▁group ▁of ▁business men ▁who ▁had ▁recently ▁completed ▁the ▁western ▁portion ▁of ▁the ▁trans cont inental ▁rail road . ▁ ▁Under ▁Hun ting ton ' s ▁leadership , ▁and ▁with ▁millions ▁in ▁new ▁finan cing ▁from ▁New ▁York ▁City , ▁west ward ▁construction ▁res umed ▁in ▁ 1 8 6 8 . ▁ ▁Having ▁long ▁paid ▁to ll s ▁for ▁the ▁use ▁of ▁the ▁state - owned ▁Blue ▁R idge ▁Rail road , ▁the ▁C & O ▁arranged ▁to ▁purchase ▁the ▁line ▁from ▁the ▁Commonwealth ▁of ▁Virginia ▁and ▁assumed ▁full ▁ownership ▁on ▁April ▁ 1 , ▁ 1 8 7 0 . ▁ ▁In ▁all , ▁the ▁Virginia ▁Central ▁and ▁the