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1870: "Pennsylvania Central" is split into lines east (renamed Pennsylvania Railroad) and lines west Pennsylvania Company is formed to hold securities from companies West of Pittsburgh; Use of track pans begins on PRR at Sang Hollow, Pennsylvania; [13] Pennsy reaches Cincinnati, Ohio, with lease of Little Miami and St. Louis, Missouri, with ...
The Penn Central Transportation Company, commonly abbreviated to Penn Central, was an American class I railroad that operated from 1968 to 1976. Penn Central combined three traditional corporate rivals (the Pennsylvania, New York Central and the New York, New Haven and Hartford railroads), all united by large-scale service into the New York metropolitan area and (to a lesser extent) New ...
The Cleveland and Pittsburgh's property was leased to the Pennsylvania Railroad under an agreement entered into on October 25, 1871, effective December 1, 1871, for a period of 999 years. This lease was assigned to the Pennsylvania Company on April 14,1873, effective December 1,1871. The Pennsylvania Company pays as annual rental an amount ...
In consideration for acquiring the lease of this property the Pennsylvania Company issued to the Pennsylvania Railroad $1,250,000 par value of its preferred stock. This property was sublet by the Pennsylvania Company to The Pittsburgh, Cincinnati, Chicago & St. Louis Railway Company for sole operation under a 25-year lease dated October 24, 1876.
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American railroad company Penn Central Transportation Company declared bankruptcy on June 21, 1970, two and a half years after its formation by the merger of the New York Central Railroad and the Pennsylvania Railroad. At the time, this was the largest bankruptcy in American history. [1]
The Pennsylvania Railroad Company, tracks, 37.56 miles from Manunka Chunk to Stroudsburg, Pa.; annual rental equal to 50 per cent of gross earnings on traffic between the two points named. 16,970.22 Lehigh and New England Railroad Company, tracks, 0.26 mile at Nazareth, Pa., annual rental equal to one-half of 6 per cent on valuation. 30.72
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