Pennsylvania Railroad ( in Southern New Jersey)

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Pennsylvania Railroad


1846-2010
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Pennsylvania Railroad 1846-1967

The Pennsylvania Railroad (reporting mark PRR) was an American railroad, founded in 1846.

Commonly referred to as the "Pennsy", and was headquartered in Philadelphia, Pennsylvania.

The PRR was the largest railroad by traffic and revenue in the U.S. throughout the first two-thirds of the twentieth century and was at one time the largest publicly traded corporation in the world. At its peak, it controlled about 10,000 miles of rail line. During its history, the PRR merged with or had an interest in at least 800 other rail lines and companies. The corporation still holds the record for the longest continuous dividend history: it paid out annual dividends to shareholders for more than 100 years in a row. At one point the budget for the PRR was larger than that of the U.S. government; at its peak it employed about 250,000 workers.

The Pennsylvania Railroad's corporate symbol was the keystone, which is Pennsylvania's state symbol, with the letters PRR intertwined inside. When colored, it was bright red with a silver-grey inline and lettering.



Lease of the United New Jersey Railroad and Canal Company


On December 1, 1871, the PRR leased the United New Jersey Railroad and Canal Company, which included the Leased Lines in Southern New Jersey below .


Penn Central Transportation Company 1967-1976


PC LOGO.jpg

In 1968, the Pennsylvania Railroad merged with its rival, the New York Central Railroad, to form the Penn Central Transportation Company. The Interstate Commerce Commission required that the ailing New York, New Haven and Hartford Railroad be added in 1969. A series of events including inflation, poor management, abnormally harsh weather and the withdrawal of a government-guaranteed $200-million operating loan forced the Penn Central to file for bankruptcy protection on June 21, 1970.


Conrail

The Consolidated Rail Corporation, commonly known as Conrail (reporting mark CR), was the primary Class I railroad in the Northeast U.S. between 1976 and 1999. The federal government created it to take over the potentially profitable lines of bankrupt carriers, including the Penn Central Transportation Company , Reading, CNJ and P-RSL were transferred in 1976 to Conrail.


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