On this day, February 1, 1968, the merger that resulted in the Penn Central occurred.

[mahatmakanejeeves]

Last edited Mon Feb 1, 2021, 09:53 PM - Edit history (1)

Hat tip, Wikipedia

{edited original title: "Happy 53rd Anniversary, the merger that created the Penn Central"}

Fri Feb 1, 2019: Happy 51st Anniversary, the merger that created the Penn Central.

02/01/19: Eastern Railroad Discussion > Happy Birthday, Penn Central!

Thu Feb 1, 2018: Happy 50th Anniversary, the merger that created the Penn Central.

02/01/18: Eastern Railroad Discussion > Penn Central Merger 50 Years Ago

Penn Central Transportation Company

The Penn Central Transportation Company, commonly abbreviated to Penn Central, was an American Class I railroad headquartered in Philadelphia, Pennsylvania, that operated from 1968 until 1976. It was created by the 1968 merger of the Pennsylvania and New York Central railroads. The New York, New Haven & Hartford Railroad was added to the merger in 1969; by 1970, the company had filed for what was, at that time, the largest bankruptcy in U.S. history.
....

Merger begins

Penn Central (PC) came into existence on February 1, 1968. On that date, the PRR — the nominal survivor of the merger — changed its name to Pennsylvania New York Central Transportation Company. It adopted the name Penn Central Company on May 8, 1968. On October 1, 1969, it again changed its name, to Penn Central Transportation Company, and became a wholly owned subsidiary of a new Penn Central Company, a holding company.
....



PC locomotives #4801 and #4800, both former PRR GG1s, haul freight through North Elizabeth, New Jersey in December 1975.

Penn Central-volume2
52,873 views•Jan 20, 2009

GreenFrogVideos
21.1K subscribers

Purchase at -- www.greenfrog.com
This DVD continues the action on Green Frog's extremely popular set of Penn Central. Action in this DVD covers the years 1971 and 1972. We'll visit Ohio and Michigan, including Detroit, Ann Arbor, Ypsilanti, Niles, Toledo, Jackson, and Carleton.

Passenger and freight action abounds, as well as equipment still painted in New York Central colors and logos. We'll see the beginning of Amtrak's take-over of passenger service: catch many 'new' and old locos such as GP40-2's, GE U25C's, E-Units, Budd Rail cars, and more!
The Penn-Central also connects with other railroads such as the DT&I and the C&O.

If you love passenger service with name trains such as The Broadway Limited, The Wolverine, The Lake Shore, The National Limited, freight action with cabooses and railroads such as the Pennsy, and the New York Central, you'll love this DVD!

From the Camera of Emery Gulash
Approx. 60 Minutes

-~-~~-~~~-~~-~-
Please watch: "Behind The Scenes at Green Frog"

...​
-~-~~-~~~-~~-~-
Buy GreenFrogVideos merchandise

[El Supremo]

1. What was so happy about it?

My grandfather worked for The PRR for more than 40 years (conductor). It was the best railroad in the world (The Standard) and the largest corporation. His job was safe through two world wars. The merger turned into the biggest bankruptcy, as you say.

[elleng]

2. Right, not so 'happy' for many,

but maybe inevitable considering the mishmash of lines created in the NE over many years.

[El Supremo]

3. It was the rise in aviation and trucking.

As for EVERY railroad in the country. But the Pennsy was the strongest and smartest. Their management went to hell and created a beast.

[regnaD kciN]

4. True...

Although the Penn Central merger closed in 1968, it had been in negotiations since all the way back in 1957, which was, not coincidentally, the point where jet travel became commonplace as well as the point where the interstate highway system reached critical mass. Those two developments made most rail use obsolete. (I would also note, with some amusement, that it was the same year Atlas Shrugged was published, which portrayed railroads as the vital force in the America of the near-future. Looks like all those long-winded speeches took so many years to set down, circumstances had made the whole world of that novel utterly obsolete by the time of its publication. Nice going, Ayn!)

Anyway, it’s also amusing that, after divesting itself of its railroads, Penn Central lived on…as an insurance company operating under a new name. Corporations never die...even when their reason for existing does.