(as of April 30, 1930)
- Vaness Corporation 80% control by Vans
- General Securities Corporation, 40% control by Vans and 50% by Vaness
- Alleghany Corporation 41% control by General Securities
- Chesapeake Corporation 71% control by Alleghany
- Chesapeake and Ohio Railway 54% control by Chesapeake
- Erie Railroad 23% control by C&O (through wholly-owned Virginia Transportation Company), 7% by Alleghany
- Hocking Valley Railway 31% control by C&O
- Pere Marquette Railway 38% control by C&O, 4% by Chesapeake, 7% by Alleghany
- Chesapeake and Ohio Railway 54% control by Chesapeake
- Missouri Pacific Railroad 51% control by Alleghany
- Denver and Rio Grande Western Railroad 50% control by MP
- New York, Chicago and St. Louis Railroad 49% control by Alleghany
- Wheeling and Lake Erie Railway 53% control by NKP
- Chesapeake Corporation 71% control by Alleghany
- Alleghany Corporation 41% control by General Securities
- General Securities Corporation, 40% control by Vans and 50% by Vaness
Apparently the large minorities were enough for "minority control" or "working control".
ICC annual reports:
- C&O independent, 1929, 1930; owned by Chesapeake Corporation, 1934 (maybe earlier? it of course was earlier in reality)
- Hocking, 1929, 1930 (merged)
- Erie independent, 1929, 1930, 1937; owned by C&O, 1938
- PM independent, 1929, 1930, 1946; owned by C&O, 1947 (merged)
- W&LE independent, 1929, 1930, 1946; owned by NKP, 1947