by mdamico23
Hi Everyone,
I am looking for info regarding what I understand was a bizzare incident in Penn Central's history. Around 1970 or 1971, I read that an obscure Illinois shortline, the LaSalle & Bureau County Railroad, was the subject of an FBI investigation regarding the theft of several hundred Penn Central 40' boxcars. From what i understand, the LS&BC would order cars from Penn Central, and when they arrived, they would repaint them and put their own reporting marks on the cars. They got away with it, at least for a while, due to poor car accounting practices on PC. This was right around the beginning of the incentive per diem boxcar leasing programs, so I am wondering if the LS&BC's motive was to then lease out these cars to other railroads and thus earn income on them. Not sure how long this lasted or whether the LS&BC had to make restitution to PC once they were discovered or if they had "inside help" from anyone within Penn Central's car or accounting departments.
Does anyone have recollection of this story or recall seeing any "reflagged" LS&BC boxcars during this era?
Thanks..
-Mike
I am looking for info regarding what I understand was a bizzare incident in Penn Central's history. Around 1970 or 1971, I read that an obscure Illinois shortline, the LaSalle & Bureau County Railroad, was the subject of an FBI investigation regarding the theft of several hundred Penn Central 40' boxcars. From what i understand, the LS&BC would order cars from Penn Central, and when they arrived, they would repaint them and put their own reporting marks on the cars. They got away with it, at least for a while, due to poor car accounting practices on PC. This was right around the beginning of the incentive per diem boxcar leasing programs, so I am wondering if the LS&BC's motive was to then lease out these cars to other railroads and thus earn income on them. Not sure how long this lasted or whether the LS&BC had to make restitution to PC once they were discovered or if they had "inside help" from anyone within Penn Central's car or accounting departments.
Does anyone have recollection of this story or recall seeing any "reflagged" LS&BC boxcars during this era?
Thanks..
-Mike