CONRAIL

CONRAIL, or the Consolidated Rail Corporation, was formed in 1976 by the federally-directed merger of the Central Railroad of New Jersey[?], the Erie Lackawanna Railroad[?], the Lehigh & Hudson River Railway[?], the Lehigh Valley Railroad[?], the Penn Central Railroad, and the Reading Railroad[?]. All six had gone bankrupt in the early part of the decade. CONRAIL would finally turn a profit in 1981, and the United States government sold its interest in the company six years later in the largest IPO in the U.S. to date.

CONRAIL was bought by and its assets were divided between CSX Corporation[?] and Norfolk Southern Corporation[?] in 1997, but in the "shared asset areas" of Detroit, Michigan, Philadelphia, Pennsylvania, and New Jersey, where assets were not easily dividable, still exists as agent and local operator.

Headquarters are located in Philadelphia.

External link

• http://www.conrail.com/