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Erie Lackawanna Railroad / Conrail #36310

ABC Evening News for Wednesday, Mar 19, 1975
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(Studio) Federal judge refuses bid to put bankrupt Erie Lackawanna railroad into receivership so it can pay off creditors; judge rules railroad should seek federal grant to keep running till June. Trustees of railroad say their only hope for line is for it to become part of proposed government-backed reorganization of bankrupt N.E. RRs - Conrail.
REPORTER: Harry Reasoner

(NYC) Conrail would buy bankrupt RRs, then abandon more than 6000 mile of unprofitable freight operations, modernize remaining lines and make money with system. [Chairperson United States railroad Association Arthur LEWIS - thinks Conrail could become profitable.] Conrail's biggest fight is over abandoning some tracks. [New York Governor Hugh CAREY - believes cost of maintaining rail service is national problem.] Some believe government should ntlize. rail business.
REPORTER: Lem Tucker

Reasoner, Harry;
Tucker, Lem

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