Edit post

Edit your reply below.

Post Body
Enter your post below.
There is quite alot of answers to this question,but in small terms.when you (PC) have liabilities of $3.3 billion,and fully mortgaged assets of $4.6 billion,the nations largest railroad unification of the NewYork,New Haven and Hartford,Pitttsburg and Lake Erie,Erie Lackawanna, Delaware and Hudson,Reading,Pennsylvania,New York Central railroad, and about 30 some odd other shortline and terminal railroads of the Pennsylvania Railroad,and having NO money in the bank, NO means of additional borrowing, NO remaining assets to mortgage,and your facing ANOTHER $30 million dollars worth of bills in 10 days!, you have a HUGE problem.In fewer than 900 days the Penn Central was done. But thanks to the Government ,it helped out,and the taxpayers getting the bill to repay back the Government,then taking the railroads of PC and forming Conrail. As for the C&O/B&O/WM merger,it was called sanctions on the C&O from NOT doing what the PC did. Spending alot on everything else,and not making enough revenue to cover the things that were purchased.
Tags (Optional)
Tags are keywords that get attached to your post. They are used to categorize your submission and make it easier to search for. To add tags to your post type a tag into the box below and click the "Add Tag" button.
Add Tag