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(Studio) Congress also passes bill to help 6 bankrupt railroads in the northeast. Bill outlined. Penn Central involved in new bill.
REPORTER: John Chancellor
(Dearborn, Michigan) Penn Central still runs but no one sure how long. Reasons for bankruptcy reviewed. Rails used to ship much of American's goods including Ford cars. Ford dependent on Penn Central. [Association of American Railroads' Stephen AILES - insists rail service can't be stopped completely; reasons given. Nationalization or private enterprize solution necessary to cope with bankrupt railroads.]
REPORTER: Richard Hunt
- Chancellor, John;
- Hunt, Richard
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