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Penn Central / Bankruptcy #210483

CBS Evening News for Monday, Jun 22, 1970
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(Studio) Penn Central Transportation Company bankrupt, still running, other corp. assets unaffected by railroad creditors; 450,000 shares stock sold; national effect of 6th largest United States corporation bankruptcy discussed.
REPORTER: Harry Reasoner

(NYC) No Wall Street panic; some fear 1st step in major economy decline. [Representative Wright PATMAN - doesn't want soft government precedent set; can't help all threatened business] [Transportation Secretary John VOLPE - wants legislature to aid RRs.] Federal aid needed to continue railroad passenger service.
REPORTER: Mike Stanley

Reasoner, Harry;
Stanley, Mike

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