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Florida East Coast Railway to Go On Market.(Originated from The Miami Herald)
Feb. 29--The Florida East Coast Railway, which pioneered the development of Miami, and indeed all of Florida, said Wednesday it is leaving the railroad industry after century of chugging through the history of the Sunshine State.
The decision comes after years of internal wrangling within the massive empire once run with an iron fist by duPont heir Ed Ball.
In theory controlled by a Jacksonville charitable trust, the holdings controlled by Ball, a brother-in-law of Alfred I. duPont, included the railroad, St. Joe Paper, a statewide banking empire and more than 1 million acres of land bought when Florida real estate wasn't worth swamp water.
In time, the …
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