Pennsylvania Company
Encyclopedia
The Pennsylvania Company was a major holding company
, owning and operating much of the Lines West territory (west of Pittsburgh and Erie, Pennsylvania
) of the Pennsylvania Railroad
, including the Pittsburgh, Fort Wayne and Chicago Railway
, the PRR's main route to Chicago
. It also owned but did not operate the Pittsburgh, Cincinnati, Chicago and St. Louis Railroad
(Pan Handle Route), another line to Chicago.
as a holding company
with a broad charter
. It was organized June 1, with president William Thaw
of the PRR. Tom Scott replaced Thaw as the president January 20, 1871. On April 1 of that year the company began operating several railroads; others were acquired later.
The Pennsylvania Company operated the Erie Canal of Pennsylvania from September 16, 1870 to February 4, 1871.
On January 1, 1918, soon after the United States Railroad Administration
took over all U.S. railroads, all Pennsylvania Company leases were transferred to the PRR. On March 1, 1920, when the lines were returned to the PRR, they were separated into four regions - the Eastern Region, Central Region, Northwestern Region and Southwestern Region.
The Pennsylvania Company however stayed around as a holding company
, and was reincorporated in Delaware on December 12, 1958 and reorganized December 16. Its new purpose was to diversify into real estate
and other fields, and the company lasted through the 1968 PRR merger into Penn Central Transportation
.
In 1973 or 1974 several subsidiaries were created - the Pennrec Company for theme park investments (including Six Flags Great Adventure
and Stars Hall of Fame), the Penn Orlando Company, and Penn Arlington, Inc. (which bought Six Flags Over Texas
from the Great Southwest Corporation).
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
, owning and operating much of the Lines West territory (west of Pittsburgh and Erie, Pennsylvania
Erie, Pennsylvania
Erie is a city located in northwestern Pennsylvania in the United States. Named for the lake and the Native American tribe that resided along its southern shore, Erie is the state's fourth-largest city , with a population of 102,000...
) of the Pennsylvania Railroad
Pennsylvania Railroad
The Pennsylvania Railroad was an American Class I railroad, founded in 1846. Commonly referred to as the "Pennsy", the PRR was headquartered in Philadelphia, Pennsylvania....
, including the Pittsburgh, Fort Wayne and Chicago Railway
Pittsburgh, Fort Wayne and Chicago Railway
The Pittsburgh, Fort Wayne and Chicago Railway was a major part of the Pennsylvania Railroad system, extending the PRR west from Pittsburgh, Pennsylvania via Fort Wayne, Indiana to Chicago, Illinois...
, the PRR's main route to Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
. It also owned but did not operate the Pittsburgh, Cincinnati, Chicago and St. Louis Railroad
Pittsburgh, Cincinnati, Chicago and St. Louis Railroad
The Pittsburgh, Cincinnati, Chicago and St. Louis Railroad, commonly called the Pan Handle Route , was a railroad forming part of the Pennsylvania Railroad system. Its common name came from its main line west from Pittsburgh, Pennsylvania across the Northern Panhandle of West Virginia...
(Pan Handle Route), another line to Chicago.
History
The Pennsylvania Company was incorporated April 7, 1870 in PennsylvaniaPennsylvania
The Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to...
as a holding company
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
with a broad charter
Charter
A charter is the grant of authority or rights, stating that the granter formally recognizes the prerogative of the recipient to exercise the rights specified...
. It was organized June 1, with president William Thaw
William Thaw
William Thaw, Sr. was an American businessman who made his fortune in transportation and banking. -Biography:...
of the PRR. Tom Scott replaced Thaw as the president January 20, 1871. On April 1 of that year the company began operating several railroads; others were acquired later.
- April 1, 1871: Pittsburgh, Fort Wayne and Chicago RailwayPittsburgh, Fort Wayne and Chicago RailwayThe Pittsburgh, Fort Wayne and Chicago Railway was a major part of the Pennsylvania Railroad system, extending the PRR west from Pittsburgh, Pennsylvania via Fort Wayne, Indiana to Chicago, Illinois...
- main line direct from Pittsburgh, PennsylvaniaPittsburgh, PennsylvaniaPittsburgh is the second-largest city in the US Commonwealth of Pennsylvania and the county seat of Allegheny County. Regionally, it anchors the largest urban area of Appalachia and the Ohio River Valley, and nationally, it is the 22nd-largest urban area in the United States...
to ChicagoChicagoChicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles... - April 1, 1871: Erie and Pittsburgh RailroadErie and Pittsburgh RailroadThe Erie and Pittsburgh Railroad was a railroad based in Erie, Pennsylvania incorporated on 1 April 1858. Operations began in March 1860. It operated jointly with Buffalo and State Line Railroad from an indeterminate date until 28 February 1870, in connection with the latter's commitment, along...
- main line from Pittsburgh north to Erie, PennsylvaniaErie, PennsylvaniaErie is a city located in northwestern Pennsylvania in the United States. Named for the lake and the Native American tribe that resided along its southern shore, Erie is the state's fourth-largest city , with a population of 102,000... - April 1, 1871: Indianapolis and Vincennes Railroad (merged into the Vandalia RailroadVandalia Railroad (1905-1917)The Vandalia Railroad was a railroad from Logansport, Indiana, to South Bend, Indiana. It quickly became a property of the Pennsylvania Railroad , which later became part of Penn Central and then Conrail. The railroad was mostly a freight-carrying route with a hub at Logansport Yard...
, PRR-owned but not Pennsylvania Company operated, January 1, 1905) - April 1, 1871: Lawrence Railroad (merged into the YL&P June 1, 1887)
- April 1, 1871: New Castle and Beaver Valley Railroad (merged into the PY&A January 1, 1906)
- December 1, 1871: Cleveland and Pittsburgh Railroad - branch of PFW&CPittsburgh, Fort Wayne and Chicago RailwayThe Pittsburgh, Fort Wayne and Chicago Railway was a major part of the Pennsylvania Railroad system, extending the PRR west from Pittsburgh, Pennsylvania via Fort Wayne, Indiana to Chicago, Illinois...
to Cleveland, OhioCleveland, OhioCleveland is a city in the U.S. state of Ohio and is the county seat of Cuyahoga County, the most populous county in the state. The city is located in northeastern Ohio on the southern shore of Lake Erie, approximately west of the Pennsylvania border... - January 1, 1873: Columbus and Shelby Railroad (merged into the JM&IJeffersonville, Madison and Indianapolis RailroadThe Jeffersonville, Madison and Indianapolis Railroad was formed in 1866 as a merger between the Indianapolis and Madison Railroad and the Jeffersonville Railroad.- Genealogy :*Jeffersonville, Madison and Indianapolis Railroad...
November 18, 1881) - January 1, 1873: Jeffersonville, Madison and Indianapolis RailroadJeffersonville, Madison and Indianapolis RailroadThe Jeffersonville, Madison and Indianapolis Railroad was formed in 1866 as a merger between the Indianapolis and Madison Railroad and the Jeffersonville Railroad.- Genealogy :*Jeffersonville, Madison and Indianapolis Railroad...
(merged into the Pittsburgh, Cincinnati, Chicago and St. Louis Railway, PRR-owned but not Pennsylvania Company operated, October 1, 1890) - January 1, 1873: Lake Erie and Louisville Railroad (merged into the JM&IJeffersonville, Madison and Indianapolis RailroadThe Jeffersonville, Madison and Indianapolis Railroad was formed in 1866 as a merger between the Indianapolis and Madison Railroad and the Jeffersonville Railroad.- Genealogy :*Jeffersonville, Madison and Indianapolis Railroad...
June 26, 1890) - January 1, 1873: Louisville Bridge Company (began operating itself October 1, 1890)
- January 1, 1873: Shelby and Rush Railroad (merged into the JM&IJeffersonville, Madison and Indianapolis RailroadThe Jeffersonville, Madison and Indianapolis Railroad was formed in 1866 as a merger between the Indianapolis and Madison Railroad and the Jeffersonville Railroad.- Genealogy :*Jeffersonville, Madison and Indianapolis Railroad...
April 10, 1882) - May 1, 1873: Ashtabula, Youngstown and Pittsburg Rail Road; Ashtabula and Pittsburgh Railway (merged into the AN&Y June 16, 1887)
- May 1, 1873: Mansfield, Coldwater and Lake Michigan Rail RoadMansfield, Coldwater and Lake Michigan Rail RoadThe Mansfield, Coldwater and Lake Michigan Railroad is a defunct railroad which operated in southern Michigan and Ohio during the 1870s...
(merged into the NWO November 28, 1877) - May 1, 1873: Toledo, Tiffin and Eastern Rail Road; Toledo and Woodville Railroad; Northwestern Ohio Railway (merged into the TWV&O May 23, 1891)
- November 10, 1873: Toledo and State Line Railroad (merged into the TT&E May 1, 1878?)
- September 28, 1880: Massillon and Cleveland Railroad
- October 3, 1881: Meadville Railway (reorganized February 1, 1884 as the non-PRR Meadville and Linesville Railroad)
- August 7, 1882: Alliance, Niles and Ashtabula Railroad (merged into the AN&Y June 16, 1887)
- January 8, 1884: Ohio Valley Railway; Pittsburgh, Ohio Valley and Cincinnati Railroad
- August 18, 1884: New Brighton and New Castle Rail Road (merged into the YL&P June 1, 1887)
- June 1, 1887: Youngstown, Lawrence and Pittsburgh Railroad (merged into the PY&A August 1, 1887)
- June 16, 1887: Ashtabula, Niles and Youngstown Railroad (merged into the PY&A August 1, 1887)
- August 1, 1887: Pittsburgh, Youngstown and Ashtabula Railroad; Pittsburgh, Youngstown and Ashtabula Railway
- October 15, 1887: South Chicago and Southern Railroad
- October 15, 1888: State Line and Indiana City Railway (merged into the SC&S February 5, 1901)
- May 23, 1891: Toledo, Walhonding Valley and Ohio Railroad (merged into the TC&OR July 1, 1911)
- January 1892: Rolling Mill Railroad (merged into the TWV&O January 1, 1904)
- January 8, 1892: Salineville Railroad (merged into the C&P January 1, 1899)
- September 16, 1895: Calumet River RailwayCalumet River Railway (Illinois)The Calumet River Railway built a rail line in Chicago, serving industries on the east side of the Calumet River. The company was incorporated on March 5, 1883, and completed the line on September 16, 1895...
(merged into the SC&S February 5, 1901) - January 1, 1900: Cleveland and Marietta Railway (merged into the TC&OR July 1, 1911)
- August 1, 1900: Western New York and Pennsylvania Railway (only 51.492 miles (83 km), formerly the New Castle and Franklin Railroad from New Castle, PennsylvaniaNew Castle, PennsylvaniaNew Castle is a city in Lawrence County, Pennsylvania, United States, northwest of Pittsburgh and near the Pennsylvania-Ohio border just east of Youngstown, Ohio; in 1910, the total population was 36,280; in 1920, 44,938; and in 1940, 47,638. The population has fallen to 26,309 according to the...
to Stoneboro, PennsylvaniaStoneboro, PennsylvaniaStoneboro is a borough in Mercer County, Pennsylvania, United States. The population was 1,104 at the 2000 census. It is part of the Youngstown–Warren–Boardman, OH-PA Metropolitan Statistical Area.-Geography:...
plus branches) - July 1, 1910: Youngstown and Ravenna Railroad
- July 1, 1911: Toledo, Columbus and Ohio River Railroad
- July 1, 1912: Cleveland, Akron and Cincinnati Railway
The Pennsylvania Company operated the Erie Canal of Pennsylvania from September 16, 1870 to February 4, 1871.
On January 1, 1918, soon after the United States Railroad Administration
United States Railroad Administration
The United States Railroad Administration was the name of the nationalized railroad system of the United States between 1917 and 1920. It was possibly the largest American experiment with nationalization, and was undertaken against a background of war emergency.- Background :On April 6, 1917, the...
took over all U.S. railroads, all Pennsylvania Company leases were transferred to the PRR. On March 1, 1920, when the lines were returned to the PRR, they were separated into four regions - the Eastern Region, Central Region, Northwestern Region and Southwestern Region.
The Pennsylvania Company however stayed around as a holding company
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
, and was reincorporated in Delaware on December 12, 1958 and reorganized December 16. Its new purpose was to diversify into real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
and other fields, and the company lasted through the 1968 PRR merger into Penn Central Transportation
Penn Central Transportation
The Penn Central Transportation Company, commonly abbreviated to Penn Central, was an American railroad company that operated from 1968 until 1976. It was created by the merger on February 1, 1968, of the Pennsylvania Railroad and the New York Central Railroad...
.
In 1973 or 1974 several subsidiaries were created - the Pennrec Company for theme park investments (including Six Flags Great Adventure
Six Flags Great Adventure
Six Flags Great Adventure is a theme park in Jackson Township, New Jersey, owned by Six Flags Entertainment Corp., the world's largest amusement park corporation...
and Stars Hall of Fame), the Penn Orlando Company, and Penn Arlington, Inc. (which bought Six Flags Over Texas
Six Flags Over Texas
Six Flags Over Texas is a major amusement park located in Arlington, Texas , east of Fort Worth and about west of Dallas. It is the oldest park of the Six Flags chain. The park opened on August 5, 1961 following just a year of construction and an initial investment of US$10 million by real estate...
from the Great Southwest Corporation).