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The Penn Central Transportation Company, commonly abbreviated to Penn Central, was an American class I railroad that operated from 1968 to 1976. Penn Central combined three traditional corporate rivals, all united by large-scale service into the New York metropolitan area and New England and Chicago. The new company failed barely two years after formation, the largest bankruptcy in U.S. history at the time. The Penn Central's railroad assets were nationalized into Conrail along with the other bankrupt northeastern roads; its real estate and insurance holdings successfully reorganized into American Premier Underwriters.
The Pennsylvania Railroad, legal name The Pennsylvania Railroad Company, also known as the "Pennsy", was an American Class I railroad that was established in 1846 and headquartered in Philadelphia. It was named for the commonwealth in which it was established. At its peak in 1882, the Pennsylvania Railroad was the largest railroad, the largest transportation enterprise, and the largest corporation in the world.
The New York Central Railroad was a railroad primarily operating in the Great Lakes and Mid-Atlantic regions of the United States. The railroad primarily connected greater New York and Boston in the east with Chicago and St. Louis in the Midwest, along with the intermediate cities of Albany, Buffalo, Cleveland, Cincinnati, Detroit, Rochester and Syracuse. New York Central was headquartered in New York City's New York Central Building, adjacent to its largest station, Grand Central Terminal.
The New York, New Haven and Hartford Railroad, commonly known as The Consolidated, or simply as the New Haven, was a railroad that operated principally in the New England region of the United States from 1872 to December 31, 1968. Founded by the merger of the New York and New Haven and Hartford and New Haven railroads, the company had near-total dominance of railroad traffic in Southern New England for the first half of the 20th century.
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The Cleveland, Cincinnati, Chicago and St. Louis Railway, also known as the Big Four Railroad and commonly abbreviated CCC&StL, was a railroad company in the Midwestern United States. It operated in affiliation with the New York Central system.
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The Hanover Insurance Group, Inc. is an insurance company based in Worcester, Massachusetts. It was the original name of a property-liability insurance firm established in 1852, and it remained a publicly traded company under that name until the early 1990s, when it changed its name to Allmerica Property & Casualty Companies.
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The Merchants Limited, sometimes shortened to Merchants, was a New York, New Haven and Hartford passenger train on the Shore Line between Boston and New York City. It was the New Haven's premier passenger train and the last all-parlor car train in the United States. The train entered service in 1903, and survived the turbulent Penn Central merger to become one of Amtrak's Boston–Washington, D.C. services. The name disappeared from Amtrak's timetables in 1995 when most Northeast trains were rebranded "NortheastDirect".
American railroad company Penn Central Transportation Company declared bankruptcy on June 21, 1970, two and a half years after its formation by the merger of the New York Central Railroad and the Pennsylvania Railroad. At the time, this was the largest bankruptcy in American history. Penn Central was responsible for a third of the nation's passenger trains and much of the freight rail in the Northeastern United States, and its failure would have devastating impacts on the Northeast's economy.
References
- ↑ "American Premier Underwriters Inc". SEC Report. Retrieved 2021-08-21.
- ↑ "American Premier Underwriters Inc". Bloomberg. Retrieved 2021-08-17.
- ↑ "Penn Central Planning to Change its Name". The New York Times. March 2, 1994.
- 1 2 "American Premier Underwriters, Inc". International Directory of Company Histories, Vol. 10. St. James Press, 1995, reproduced by Funding Universe. Retrieved 2009-01-25.
- ↑ "Insurance Unit to Buy its Parent in Stock Merger". The New York Times . Reuters. December 13, 1994. Retrieved 2021-11-28.
- ↑ "Great American Story". Great American Insurance Company. Retrieved 2024-02-12.
- ↑ "Judge sends AFG's Amtrak claims to arbitrator". Cincinnati Business Courier . December 5, 2008. Retrieved 2009-01-25.
- ↑ "Judge rules on American Financial lawsuit against Amtrak". Cincinnati Business Courier. February 26, 2015.
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