Conrail contract service
Encyclopedia
The Consolidated Rail Corporation
(Conrail) provided subsidized
passenger and freight contract service from the beginning of operations in 1976 through the 1980s. Conrail operated commuter trains until the Northeast Rail Service Act of 1981 transferred then to local authorities. It also operated freight on "light-density lines" owned by its bankrupt predecessors, and later by government authorities; these were gradually abandoned or transferred to short-line railroads.
Consolidated Rail Corporation
The Consolidated Rail Corporation, commonly known as Conrail , was the primary Class I railroad in the Northeast U.S. between 1976 and 1999. The federal government created it to take over the potentially profitable lines of bankrupt carriers, including the Penn Central Transportation Company and...
(Conrail) provided subsidized
Subsidy
A subsidy is an assistance paid to a business or economic sector. Most subsidies are made by the government to producers or distributors in an industry to prevent the decline of that industry or an increase in the prices of its products or simply to encourage it to hire more labor A subsidy (also...
passenger and freight contract service from the beginning of operations in 1976 through the 1980s. Conrail operated commuter trains until the Northeast Rail Service Act of 1981 transferred then to local authorities. It also operated freight on "light-density lines" owned by its bankrupt predecessors, and later by government authorities; these were gradually abandoned or transferred to short-line railroads.