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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 ...
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] Penn Central was responsible for a third of the nation's ...
Its only formidable rival was the New York Central Railroad (NYC), which carried around three-quarters of the Pennsy's ton-miles. In 1968, the Pennsylvania Railroad merged with New York Central and the railroad eventually went by the name of Penn Central Transportation Company, or "Penn Central" for short.
Alfred Edward Perlman (November 22, 1902—April 30, 1983) was a railroad executive, having served as president of the Penn Central Transportation Company and its predecessor, the New York Central Railroad, and later, president of the Western Pacific railroad presiding over its successful turnaround before being absorbed into the present day Union Pacific system.
Conrail. CR 6256 and 6469 at former Erie Yard in Gang Mills, New York on October 4, 1987. Conrail ( reporting mark CR ), formally the Consolidated Rail Corporation, was the primary Class I railroad in the Northeastern United States between 1976 and 1999. The trade name Conrail is a portmanteau based on the company's legal name.
The railroad was established in 1853, consolidating several existing railroad companies. In 1968, the NYC merged with its former rival, the Pennsylvania Railroad, to form Penn Central. [1] Penn Central went into bankruptcy in 1970 and, with extensive Federal government support, emerged as Conrail in 1976. [2]
Seven major companies were included: Penn Central Transportation Company (PC), successor to the New York Central Railroad (NYC), New York, New Haven and Hartford Railroad (NH), and Pennsylvania Railroad (PRR) Erie Lackawanna Railway (EL), successor to the Delaware, Lackawanna and Western Railroad (DL&W) and Erie Railroad (Erie) Ann Arbor ...
The following railroads merged to form the Pennsylvania Railroad (PRR). On February 1, 1968, the PRR merged into Pennsylvania New York Central Transportation. The following PRR-owned and leased companies were still separate at the time of the Penn Central merger: Pennsylvania-Reading Seashore Lines; Baltimore and Eastern Railroad