When Cornelius died in 1877, his son, William Henry Vanderbilt, became head of the Vanderbilt railroad empire. The younger Vanderbilt took steps to separate the various railroad properties he controlled. On 1 January 1883, the New York Central Railroad (NYC) was able to lease the CSR to another Vanderbilt railroad company, the Michigan Central Railroad (MCR), on a 21-year renewable term. Vanderbilt, who owned all three companies, ensured that each one operated independently, through its own autonomous president and board of directors. In 1929, MCR subleased CSR to NYC, its parent company.