1870s September 1873 Panic of 1873 -- By November 1873, 55 US railroads fail. (Another 60 are bankrupt by September 1874). 1910s September 6, 1918:Canadian Northern Railway (nationalized) 1920s July 12, 1920:Grand Trunk Pacific Railway (nationalized) January 20, 1923:Grand Trunk Railway (nationalized) 1925: Chicago, Milwaukee, and St. Paul Railway 1930s December 4, 1931: Ann Arbor Railroad February 10, 1932: Baltimore and Virginia Steamboat Company March 31, 1933: Missouri Pacific Railroad December 1934: Alleghany Corporation 1935: Chicago, Milwaukee, St. Paul and Pacific Railroad March 26, 1935: Copper Range Railroad October 23, 1935: New York, New Haven and Hartford Railroad October 31, 1935: Connecticut Company November 29, 1935: New York, Westchester and Boston Railway February 2, 1936: Van Sweringen Company June 3, 1936: Old Colony Railroad May 20, 1937: New York, Ontario and Western Railway January 18, 1938: Erie Railroad August 4, 1938: Boston and Providence Railroad October 30, 1939: Central Railroad of New Jersey 1940s 1947: American Railroad Company March 2, 1949: Long Island Rail Road 1950s November 19, 1954: Hudson and Manhattan Railroad 1960s July 7, 1961: New York, New Haven and Hartford Railroad September 7, 1962: Boston Terminal Corporation (South Station) March 22, 1967: Central Railroad of New Jersey 1970s March 12, 1970: Boston and Maine Corporation June 21, 1970: Penn Central Transportation July 24, 1970: Lehigh Valley Railroad November 23, 1971: Reading Company April 19, 1972: Lehigh and Hudson River Railway June 26, 1972: Erie Lackawanna Railway July 12, 1973: United New Jersey Railroad and Canal Company (Penn Central subsidiary) July 14, 1973: Beech Creek Railroad; Cleveland, Cincinnati, Chicago and St. Louis Railway; Cleveland and Pittsburgh Railroad; Connecting Railway; Delaware Railroad; Erie and Pittsburgh Railroad; Michigan Central Railroad; Northern Central Railway; Penndel Company; Philadelphia and Trenton Railroad; Philadelphia, Baltimore and Washington Railroad; Pittsburgh, Fort Wayne and Chicago Railway; Pittsburgh, Youngstown and Ashtabula Railway; Union Railroad of Baltimore (Penn Central subsidiaries) October 15, 1973: Ann Arbor Railroad December 19, 1977: Chicago, Milwaukee, St. Paul and Pacific Railroad 1980s 1987: Delaware and Hudson Railroad References PRR Chronology RRHX - Railroad History Time Line Bankruptcies Bankruptcies, North America Bankruptcies Bankruptcies