Penn Central advertised a 24 and 1/2 hour piggyback service from Metro New York to Metro Chicago in the Official Guide of the Railways, while the EL's Employees Timetable Number 3, New York Division, showed its fastest comparable schedule to be 28 hours and 45 minutes. By 1973, the Penn Central's fastest piggyback service between these points was shown in the Official Guide to be 26 hours and 15 minutes, while the EL's Employees Timetable Number 4 showed that the EL's fastest comparable schedule was 29 and 1/2 hours. After its 1972 bankruptcy, EL management attempted to plot an independent course, anticipating financial reorganization without a heavy debt burden. Therefore, it initially declined interest in joining the Consolidated Rail Corporation (Conrail) takeover of the other major bankrupt eastern lines. The preliminary (PSP) and final (FSP) system plans for Conrail showed the EL being merged into the Chessie System. Also, by 1975, the economy in the eastern United States was gravely affected by the 1973 oil crisis, quashing any hopes of the EL being able to independently compete with government-rehabilitated Conrail lines. Therefore, the EL petitioned and was accepted into Conrail at the last minute. In 1976, much of the company's railroad assets were thus purchased by the federal government and combined with other companies' railroad assets to form Conrail. An independent Erie Lackawanna Estate continued in existence for several years thereafter. This estate liquidated the EL's marginal non-railroad assets and distributed the railroad purchase funds to satisfy much of the large debt burden that the EL and its predecessors had accumulated. The EL's creditors gained more by selling the line's assets than by continuing its traditional business operations. Remaining service today The Erie Lackawanna's former commuter services are operated by NJ Transit and Metro-North; non-electrified service operates to and from Hoboken Terminal; electrified lines use both Hoboken Terminal and Pennsylvania Station as terminals. Metro-North and NJ Transit share operation of the Port Jervis and Pascack Valley Lines, while NJ Transit operates the Main, Montclair-Boonton, Morristown, Bergen County, and Gladstone Lines. Track reconstruction is underway that could restore regular service along the Lackawanna Cut-Off from Port Morris Junction, New Jersey to the Pennsylvania border at the Delaware River (28.45 miles) and extend service into northeastern Pennsylvania, possibly as far as Scranton. The Erie portion of the original Mainline between Port Jervis, NY and Binghamton, NY is operated by the CNYK. The