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The Penn Central Transportation Company, normally called Penn Central, was an American railroad company, headquartered in Philadelphia, Pennsylvania and formed by the merger on February 1, 1968 of the Pennsylvania Railroad and the New York Central Railroad; the New Haven was added to the merger at the insistence of the ICC on January 1, 1969. The driving force behind the creation of the Penn Central was the perilous financial situations of all three railroads in the late 1960s. The Penn Central Corporation was a holding company for the railroad. Image File history File links Penn Central Railroad Herald Heralds are logos or slogans used by railroad companies and displayed on their equipment. ...
The following are reporting marks assigned by the Association of American Railroads (AAR) to rail carriers operating in North America and the companies (railroads and rail equipment owners/operators) to which they were assigned. ...
Chicago (officially named the City of Chicago) is the third largest city in the United States (after New York City and Los Angeles), with an official population of 2,896,016, as of the 2000 census. ...
New York, New York redirects here. ...
Alternative meanings: Boston (disambiguation) The 18th_century Old State House in Boston is surrounded by tall buildings of the 19th and 20th centuries. ...
1968 was a leap year starting on Monday (the link is to a full 1968 calendar). ...
1976 is a leap year starting on Thursday (link will take you to calendar). ...
Rail gauge is the distance between two rails of a railroad. ...
As railways developed and expanded one of the key issues to be decided was that of the rail gauge (the distance between the two rails of the track) which should be used. ...
Independence Hall Philadelphia (sometimes referred to as Philly or the City of Brotherly Love) is the fifth most populous city in the United States and the most populous city in the state of Pennsylvania, occupying all of Philadelphia County. ...
This is the top-level page of WikiProject trains Rail tracks Rail transport refers to the land transport of passengers and goods along railways or railroads. ...
Independence Hall Philadelphia (sometimes referred to as Philly or the City of Brotherly Love) is the fifth most populous city in the United States and the most populous city in the state of Pennsylvania, occupying all of Philadelphia County. ...
February 1 is the 32nd day of the year in the Gregorian Calendar. ...
1968 was a leap year starting on Monday (the link is to a full 1968 calendar). ...
The Pennsylvania Railroad (AAR reporting mark: PRR) was an American railroad existing 1846–1968, after which it merged into Penn Central Transportation. ...
The New York Central Railroad, known simply as the New York Central in its publicity and with the AAR reporting mark of NYC, was a railroad operating in the North-Eastern United States. ...
The New York, New Haven and Hartford Railroad (AAR reporting mark: NH) was a railroad that operated in the northeast United States. ...
The United States Interstate Commerce Act of 1887, signed into law by President Grover Cleveland, created the Interstate Commerce Commission. ...
January 1 is the first day of the calendar year in both the Julian and Gregorian calendars. ...
1969 was a common year starting on Wednesday (the link is to a full 1969 calendar). ...
The 1960s, or The Sixties, in its most obvious sense refers to the decade between 1960 and 1969, but the expression has taken on a wider meaning over the past twenty years. ...
A holding company is a company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors. ...
Although the decline of the north-eastern US railroads had many causes, increasing competition from the trucking industry, subsidized by the federally-funded highway system, was one of the greatest of them, as was their inability to respond to market conditions.
Railroads of the time were heavily regulated and were unable to change the rates they charged shippers or the fares they charged passengers. Therefore, reducing costs was the only way to become more profitable. Government regulation and agreements with labor unions tightly restricted what cost-cutting could take place. Merger was a promising way out.
As it turned out, the merged railroad was no better off than its constituent roads were before. Attempts to integrate operations, personnel and equipment were not very successful, due to the clashing corporate cultures. Attempts were made to diversify into real estate and other non-railroad ventures, but these turned into more of a distraction from the problems in the core business than a cure for them.
In only two years, the Penn Central declared bankruptcy on June 21, 1970 in what was then the largest corporate bankruptcy in American history. The railroad was kept running while efforts were made to save it. Salvation came, finally, in nationalization under the Railroad Revitalization and Regulatory Reform Act of 1976; the federally-owned corporation Conrail was formed to take over the railroad assets of the bankrupt Penn Central and five other failed railroads in the north-eastern United States as of April 1, 1976. Further help was given by the 1980 Staggers Act, which deregulated the railroad industry. June 21 is the 172nd day of the year (173rd in leap years) in the Gregorian Calendar, with 193 days remaining. ...
1970 was a common year starting on Thursday. ...
The United States Railroad Revitalization and Regulatory Act of 1976, funded the reorganized bankrupt Northeast and Midwest railroads that formed Conrail in 1975. ...
1976 is a leap year starting on Thursday (link will take you to calendar). ...
Conrail, officially known as the Consolidated Rail Corporation, is an American railroad company. ...
April 1 is the 91st day of the year (92nd in leap years) in the Gregorian calendar, with 274 days remaining. ...
1976 is a leap year starting on Thursday (link will take you to calendar). ...
1980 is a leap year starting on Tuesday. ...
The Staggers Rail Act of 1980 deregulated the railroad industry to a significant extent, replacing the regulatory structure that existed since the 1887 Interstate Commerce Act. ...
Conrail eventually became profitable and was privatized in 1987; in 1999 the corporation was purchased by CSX and Norfolk Southern and the majority of its assets split up between them. The small portion of Conrail that represented trackage that was of interest to both CSX and Norfolk Southern was kept as the remaining Conrail system under the name "Conrail Shared Assets". Categories: Companies traded on NYSE | Railway companies of the United States | Alabama railroads | Connecticut railroads | Delaware railroads | Florida current railroads | Georgia railroads | Illinois railroads | Indiana railroads | Kentucky railroads | Louisiana railroads | Maryland railroads | Massachusetts railroads | Michigan railroads | Mississippi railroads | New Jersey railroads | New York railroads | North Carolina railroads | Ohio railroads | Pennsylvania...
Norfolk Southern Corporation (AAR reporting mark NS) (NYSE: NSC) is a US publicly-traded stock corporation based in Norfolk, Virginia. ...
The Penn Central Transportation Company was merged into Conrail, but its holding company, the Penn Central Corporation, continued. Though it retained ownership of some rights of way and station properties connected with the railroads, it continued to liquidate these and eventually concentrated on the insurance business to the point that it changed its name to American Premier Underwriters, and is today controlled by Carl Lindner and his American Financial Group. A holding company is a company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors. ...
Carl Lindner, Jr. ...
Despite leaving the railroad business many years ago, American Financial Group is the owners of Grand Central Station in NYC, however the New York Metropolitian Transportation Authority is the current lease holder of station. The clock in the Main Concourse © 2004 Metropolitan Transportation Authority Grand Central Terminal (often still called Grand Central Station, although technically that is the name of the nearby post office) is a train station at 15 Vanderbilt Avenue in Midtown Manhattan, New York, a borough of New York City, located...
See also
The Pennsylvania Railroad (AAR reporting mark: PRR) was an American railroad existing 1846–1968, after which it merged into Penn Central Transportation. ...
The New York Central Railroad, known simply as the New York Central in its publicity and with the AAR reporting mark of NYC, was a railroad operating in the North-Eastern United States. ...
The New York, New Haven and Hartford Railroad (AAR reporting mark NH) was a railroad that operated in the northeast United States. ...
Conrail, officially known as the Consolidated Rail Corporation, is an American railroad company. ...
External link
| edit Current (operating) Class I railroads of North America | | AMTK, BNSF, CN, CP, CSXT, FXE, KCS, NS, TFM, UP, VIA A Class I railroad (also called a Class 1 railroad) is a member of the largest class of railroads in North America. ...
Amtrak is the trademark name of the intercity passenger train system created on May 1, 1971 in the United States. ...
An eastbound BNSF Railway train passes some maintenance of way equipment in Prairie du Chien, Wisconsin, August 8, 2004. ...
Missing image Canadian National Railways logo or herald (used pre-1960) Missing image Network Map of Canadian National Railway The Canadian National Railway (CN; AAR reporting marks CN, CNA, CNIS), known as Canadian National Railways (CNR) between 1918 and 1960, and Canadian National/Canadien National (CN) from 1960 to present...
The Canadian Pacific Railway (CPR; AAR reporting marks CP, CPAA, CPI), known as CP Rail between 1968 and 1996, is a Canadian Class I railway operated by Canadian Pacific Railway Limited. ...
Categories: Companies traded on NYSE | Railway companies of the United States | Alabama railroads | Connecticut railroads | Delaware railroads | Florida current railroads | Georgia railroads | Illinois railroads | Indiana railroads | Kentucky railroads | Louisiana railroads | Maryland railroads | Massachusetts railroads | Michigan railroads | Mississippi railroads | New Jersey railroads | New York railroads | North Carolina railroads | Ohio railroads | Pennsylvania...
The Kansas City Southern Railway (AAR reporting mark KCS) is a United States-based Class I railroad operating over 3,130 track miles in 10 central and southeastern states. ...
Norfolk Southern Corporation (AAR reporting mark NS) (NYSE: NSC) is a US publicly-traded stock corporation based in Norfolk, Virginia. ...
Transportación Ferroviaria Mexicana (Mexican Rail Transportation) is the name of a company dedicated to freight transportation using rail in the North Eastern part of Mexico. ...
The Union Pacific Railroad (NYSE: UNP) is the largest railroad in the United States. ...
VIA Rail Canada (also referred to as VIA Rail and VIA; pronounced vee-ah) is an independent Crown corporation offering intercity passenger rail services in Canada. ...
| | Former or fallen flag Class I railroads of North America | | ACL, AGS, ATSF, BAR, BLE, BM, BN, BO, CBQ, CG, CGW, CNTP, CNW, CO, CR, CRIP, CV, DH, DMIR, DRGW, EJE, ERIE, FEC, GMN, GMO, GN, GTW, IC, ICG, LA, LAT, LN, MEC, MILW, MKT, MP, NH, NKP, NNE, NOTM, NP, NW, NYC, PC, PLE, PM, PRR, SAL, SBD, SCL, SLSF, SOO, SOU, SP, SSW, STLH, TNO, TP, VGN, WAB, WM, WP, YMV A fallen flag in United States railroaders and railfans terminology, is a railroad company no longer in existence due to bankruptcy or merger. ...
The Atlantic Coast Line Railroad (AAR reporting mark ACL) was an American railroad that existed between 1880s and 1967, when it merged with the Seaboard Air Line Railroad, its longtime rival, to form the Seaboard Coast Line Railroad. ...
The Atchison, Topeka and Santa Fe Railway (AAR reporting mark ATSF), often abbreviated as Santa Fe, was one of the largest railroads in the United States. ...
The Bangor and Aroostook Railroad or BAR is a defunct United States railroad company, that formerly operated lines in northern Maine. ...
The Bessemer and Lake Erie Railroad (B≤ AAR reporting mark BLE) was a railroad company operating mainly in western Pennsylvania and eastern Ohio. ...
The Boston & Maine (B&M) was the dominant railroad of the northern United States for a century. ...
Categories: Rail stubs | Defunct railroad companies of the United States | California railroads | Colorado railroads | Idaho railroads | Illinois railroads | Iowa railroads | Kansas railroads | Kentucky railroads | Minnesota railroads | Missouri railroads | Montana railroads | Nebraska railroads | North Dakota railroads | Oregon railroads | South Dakota railroads | Washington railroads | Wisconsin railroads | Wyoming railroads ...
The Baltimore and Ohio Railroad or B&O was a 19th century railroad which operated in the east coast of the United States and was the first railroad to offer commercial transportation of both people and freight. ...
The Chicago, Burlington & Quincy Railroad (AAR reporting mark CBQ) was a railroad that operated in the Midwestern United States. ...
The Central of Georgia Railroad was contructed to join the Macon and Western Railroad at Macon, Georgia to the Atlantic coastal railroads at Savannah, Georgia. ...
The Chicago Great Western Railway (AAR reporting mark CGW) was a Class I railroad that linked Chicago, Minneapolis, Omaha, and Kansas City. ...
The Cincinati, New Orleans and Texas Pacific Railway (AAR reporting mark CNTP) is a railroad that runs from Cincinnati, Ohio to Chattanooga, Tennessee. ...
The Chicago and North Western Railway (AAR reporting marks: CNW, CNWS, CNWZ) was a Class 1 railroad in the United States. ...
The Chesapeake and Ohio Railway (C&O) was a Class I railroad formed in 1869 in Virginia from many smaller railroads begun in the 19th century. ...
Conrail, officially known as the Consolidated Rail Corporation, is an American railroad company. ...
The Chicago, Rock Island & Pacific Railroad (AAR reporting mark RI) was a Class I railroad in the United States. ...
The Central Vermont Railway (AAR reporting mark: CV) was a railroad based in the US state of Vermont. ...
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Categories: Rail stubs | Minnesota railroads | Wisconsin railroads ...
Denver and Rio Grande Western Railroad - Wikipedia /**/ @import /skins-1. ...
Categories: Rail stubs | Illinois railroads | Indiana railroads ...
The Erie Railroad (AAR reporting mark ERIE) was a railroad that operated in New York State, connecting New York City with Lake Erie and several cities in upstate New York, including Binghamton, Buffalo and Dunkirk. ...
The Florida East Coast Railway (AAR reporting mark FEC) is a Class II railroad operating in the US state of Florida; in the past, it has been a Class I railroad. ...
The Gulf, Mobile and Ohio ( AAR reporting mark GMO) was a railroad carrier in the central United States, with its primary routes from Chicago to Mobile, Alabama and Kansas City, Missouri. ...
A separate article treats the Great Northern Railway in Britain. ...
Grand Trunk Western Railroad logo or herald (used 1960-1995) CNs principal U.S. subsidiary The Grand Trunk Western Railroad (GTWR, GT post-1960, AAR reporting mark GTW) is a U.S. railroad and primary subsidiary of Canadian National Railway (CN). ...
Categories: Rail stubs | Defunct railroad companies of the United States | Defunct companies | Illinois railroads | Iowa railroads | Louisiana railroads | Missouri railroads | South Dakota railroads | Wisconsin railroads ...
The Illinois Central Gulf Railroad (AAR designation ICG) was the result of the merger between the Illinois Central (IC) and the Gulf, Mobile and Ohio (GM&O) railroads. ...
In 1910, the company was involved in a notable court case dealing with taxes. ...
Chartered by the state of Kentucky in 1850, the L&N, as it was generally known, grew into one of the great success stories of American business. ...
The Maine Central Railroad was a railroad in central Maine. ...
The Milwaukee Road, officially the Chicago, Milwaukee, St. ...
For other meanings of MKT see MKT (disambiguation) Categories: Stub | Defunct railroad companies of the United States | Defunct companies | Kansas railroads | Missouri railroads | Oklahoma railroads | Texas railroads ...
Missouri Pacific (MoPac; AAR reporting mark MP) was the first American railroad west of the Mississippi River. ...
The New York, New Haven and Hartford Railroad (AAR reporting mark NH) was a railroad that operated in the northeast United States. ...
The New York, Chicago and St. ...
Northern Pacific Railway Categories: Stub | Defunct railroad companies of the United States | Idaho railroads | Minnesota railroads | Montana railroads | North Dakota railroads | Oregon railroads | Washington railroads | Wisconsin railroads ...
Norfolk and Western Railway - Wikipedia /**/ @import /skins-1. ...
The New York Central Railroad, known simply as the New York Central in its publicity and with the AAR reporting mark of NYC, was a railroad operating in the North-Eastern United States. ...
The Pittsburgh and Lake Erie Railroad (P&LE) ( AAR reporting mark PLE), also known as the Little Giant, was formed on May 11, 1875. ...
The Pere Marquette Railroad (AAR reporting mark: PM) was a railroad that operated in the Great Lakes region of the United States. ...
The Pennsylvania Railroad (AAR reporting mark: PRR) was an American railroad existing 1846–1968, after which it merged into Penn Central Transportation. ...
The Seaboard Air Line Railroad (AAR reporting mark SAL) was an American railroad that existed between 1880s and 1967, when it merged with the Atlantic Coast Line Railroad, its longtime rival, to form the Seaboard Coast Line Railroad. ...
Categories: Stub | Defunct railroad companies of the United States | Defunct companies | District of Columbia railroads | Florida railroads | Georgia railroads | North Carolina railroads | South Carolina railroads | Virginia railroads ...
Categories: Stub | Defunct companies | Defunct railroad companies of the United States | District of Columbia railroads | Florida railroads | Georgia railroads | North Carolina railroads | South Carolina railroads | Virginia railroads ...
The St. ...
Soo Line 6022, an EMD SD60, pulls a train through Wisconsin Dells, WI, June 20, 2004. ...
The Southern Railway (AAR designation SOU) was the product of nearly 150 predecessor lines that were combined, reorganized and recombined since the 1830s. ...
The Southern Pacific Railroad (AAR reporting mark SP) was an American railroad. ...
The St. ...
The Canadian Pacific Railway (CPR; AAR reporting marks CP, CPAA, CPI), known as CP Rail between 1968 and 1996, is a Canadian Class I railway operated by Canadian Pacific Railway Limited. ...
The Texas and Pacific Railway Company (known as the T&P) was created by federal charter in 1871 with the purpose of building a southern transcontinental rail link between Marshall, Texas and San Diego, California. ...
The Virginian Railway (AAR reporting mark VGN) was a Class 1 railroad located in Virginia and West Virginia in the United States. ...
The Wabash Railway ( AAR reporting mark: WAB) was a railroad that operated in the mid-central United States. ...
The Western Maryland Railway ( AAR reporting mark WM) was an American Class I railroad which operated in Maryland, West Virginia and Pennsylvania. ...
Categories: Rail stubs | Defunct railroad companies of the United States | Defunct companies | California railroads | Nevada railroads | Utah railroads ...
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