Penn Central Transportation Company
The legal entity that eventually became the Penn Central Transportation Company was the former Pennsylvania Railroad, which absorbed the New York Central as part of the original 1968 merger and, at the same time, began using the Penn Central name to reflect its merger with the New York Central. The company remained headquartered in Philadelphia after its merger with the New York Central. By 1970, the company had filed for what was, at that time, the largest bankruptcy in U.S. history.