by JimBoylan
To split hairs, on Conveyance Day (4/1/76) ConRail acquired selected parts of the various bankrupt lines and other lines that they owned or controlled. The bankrupt railroads kept what was left over. EL eventually liquidated, I think the stockholders even got some money! PC, RDG, and CNJ are still in business , now named American Premier, Reading International, and Central Jersey Industries. Ann Arbor was snatched back from ConRail in 1977 in some deal involving the State of Michigan. I think L&HR liquidated, I don't know what happened to LV and P-RSL. I think the bankrupt New Haven was still in existence in the late 1970s, but that was a Penn Central transaction.
In the cases of Raritan River, Niagara Jct., P-RSL, and Monongahela, ConRail may have acquired the stock that the bankrupt lines owned. Monongahela was a very special case, Chessie System owned some of the stock until ConRail got all of it in the early 1980s. Did someone else own a few shares of Raritan River until ConRail later bought them out?
In the cases of Raritan River, Niagara Jct., P-RSL, and Monongahela, ConRail may have acquired the stock that the bankrupt lines owned. Monongahela was a very special case, Chessie System owned some of the stock until ConRail got all of it in the early 1980s. Did someone else own a few shares of Raritan River until ConRail later bought them out?
