CHESSIE SYSTEM, INC. BILLBOARD. The Chessie System, Inc. was a holding company that owned the Chesapeake & Ohio Railway (C&O), the Baltimore & Ohio (B & O), the Western Maryland Railway (WM) and several smaller carriers. It was incorporated in Virginia on February 26, 1973, and it acquired the C & O (which controlled other companies) on June 15. C & O had been popularly known as the "Chessie System" since the 1930s. No supports. Measures approximately 2.15" tall x 1.6" wide. (Limited Production).