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The Wall Street Journal came out with a nice little paperback summary (of the merger), Riding The Pennsy to Ruin.  I'll always remember one section mentioned that they were so broke, they had trouble paying for all the red pens they needed to report all the "Red Ink" they were in. Not making fun of their situation, that was just how dire it was back then. 

The Penn Central was the first railroad I really followed so as bad as they were, it still brings back good memories of RS-3m's and FL-9s in the New York metro area.

Tom 

 

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