Penn Central Railway Company Logo Key Ring

The merger of The New York Centrail Railroad and The Pennsylvania Railroad on February 1, 1968 was supposed to Improve rail service, both freight and passenger. It also was to Strengthen capabilities for National Defence, and Provide more modern equipment. The American financial system was seriously shocked when after only two years of operations, Penn Central declared bankruptcy on June 21, 1970. It was the largest corporate bankruptcy in American history.