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Pennsylvania RR VS New York Central RR

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Which railroad is your favorite of the two?

Pennsylvania RR.
13
62%
New York Central RR.
5
24%
Neither, I'm glad they're both gone!
3
14%
 
Total votes : 21

Pennsylvania RR VS New York Central RR

Unread postby Berkshirefan765 » Thu Feb 08, 2018 1:42 pm

Which of the two railroads is your favorite?

History of the events following the merger:

Before the Penn Central merger, these two railroads were arch rivals. On February 1, 1968, the New York Central merged with the Pennsylvania RR and created the Pennsylvania New York Central Transportation Company that was later renamed the Penn Central Transportation Company. Following the merger, they were quickly struck with debt and due to the incompatibility of the high officials, the chances of success greatly decreased. On June 21, 1970, the Penn Central filed for bankruptcy. The Penn Central's debt to the other railroads was frozen, however other railroads' debt to the Penn Central were not, causing other northeastern railroads into insolvency including: Erie Lackawanna, Boston and Maine, the Central Railroad of New Jersey, the Reading Company, and the Lehigh Valley. The Penn Central was the last hope for passenger transportation by rail, Amtrak was formed in 1970 by the government as a national company and not a regional. April 1, 1976, The U.S. Government formed the Consolidated Rail Corporation, (most commonly known as Conrail,) from the ashes of the Penn Central and other bankrupt railroads. Conrail would not achieve profitability until the 1990s, and then it became a highly sought after railroad. In 1998 the Conrail was spilt between CSX and Norfolk Southern.
Last edited by Berkshirefan765 on Tue Apr 03, 2018 9:22 pm, edited 3 times in total.
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Re: Pennsylvania RR VS New York Central RR

Unread postby minerman146 » Thu Feb 08, 2018 1:45 pm

I got my vote in ... I feel better already.
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Re: Pennsylvania RR VS New York Central RR

Unread postby JOHNtheREDNECK » Thu Feb 08, 2018 3:53 pm

Shouldn't be hard to figure out my vote. !*roll-laugh*!
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Re: Pennsylvania RR VS New York Central RR

Unread postby DrewG » Thu Feb 08, 2018 5:15 pm

Well my Pennsylvania lantern is worth about 130, while my NYC lantern is worth about 30. So you can sum up my feelings based off that.

!*cheers*!
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Re: Pennsylvania RR VS New York Central RR

Unread postby PennCentral670 » Thu Feb 08, 2018 5:16 pm

Berkshirefan765 wrote:On February 1, 1968, the New York Central was absorbed by the Pennsylvania RR and created the Pennsylvania New York Central Transportation Company that was later renamed the Penn Central Transportation Company. .

The Pennsylvania RR did not absorb the New York Central, this was an actual merger with both railroads coming together.
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Re: Pennsylvania RR VS New York Central RR

Unread postby Berkshirefan765 » Thu Feb 08, 2018 6:28 pm

PennCentral670 wrote:
Berkshirefan765 wrote:On February 1, 1968, the New York Central was absorbed by the Pennsylvania RR and created the Pennsylvania New York Central Transportation Company that was later renamed the Penn Central Transportation Company. .

The Pennsylvania RR did not absorb the New York Central, this was an actual merger with both railroads coming together.

This is probably true, I just did a short google search and just read what it had to say.
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Re: Pennsylvania RR VS New York Central RR

Unread postby JohnS » Thu Feb 08, 2018 8:46 pm

From my readings the Pennsy absorbed the NYC in the Merger due to the size difference of the two roads. Yes it was still a merger. It was just the fact that Pennsy was much larger in stocks and share holders than NYC they said absorbed, that's why the term was used.
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Re: Pennsylvania RR VS New York Central RR

Unread postby longiron205 » Sat Feb 10, 2018 2:59 pm

Remember, neither wanted to merge with each other.

From knowledgeable folks over at Trains magazine: "The NYC was trying to get it's house in order but was spooked by the C&O's offer to merge with the B&O and wanted in. The PRR, faced with a C&O/B&O/NYC combine screamed bloody murder-understandably so. The C&O didn't want to deal with trying to put together such a big merger (and provide most of the income for the new company), so talked the NYC into bowing out. The idea was that the NYC would continue to get itself slimmed down and more profitable while the C&O put it's money into rehabilitating the B&O (physical plant or just financially, I do not know). Meanwhile, the N&W was looking to expand beyond the coalfields in a merger/lease of the NKP and the Wabash. So, the idea (I have no clue whose it was) was that the C&O/B&O and N&W/WAB/NKP mergers would be effected and once those got running smoothly, NYC would join the expanded C&O and the PRR would join the expanded N&W.

This result would have been two eastern carriers that overlapped each other and would have both covered the northeast. Both would have had traffic mixes of coal and merchandise (the PRR was a large hauler of coal and the NYC had a bigger proportion of merchandise in their traffic mix).

But, once the other mergers had been put into motion, the NYC got worried about what would happen if they DIDN'T get to merge into the C&O later. The PRR was in the same boat but (either through bluff or arrogance) was the pursued rather than the pursuer in this union. The result was that both merged with the other even though neither really wanted to-they were just afraid of being left on their own against two new RR's."
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