New Haven Railroad Historical Events


Milestone Laurence F. Whittemore tenders his resignation as President of the New York, New Haven & Hartford Railroad Company.

Chairman of the Board, Frederic C. Dumaine, Sr takes the post of President again making him the 15th and 17th President,

and the 4th person to serve more than one period as President.

End of Service The New Haven Railroad discontinues all passenger service between Winsted and Waterbury, Conn. (AR)

Milestone The New Haven Railroad's revenues drop by $14.5 million from 1957 because of recession. (AR)

Abandonment Line from Canaan to Lakeville abandoned.

End of Service At 11:59:59 PM the NEW YORK, NEW HAVEN & HARTFORD RAILROAD COMPANY ceases railroad operations after

96 years, 5 months, 8 days. At midnight the railroad was merged into the PennCentral Railroad. The NEW YORK, NEW

HAVEN & HARTFORD RAILROAD COMPANY would continue to exist as a corporation until the late 1970s as the

Bankruptcy Trustee would spend many years in legal fights to ensure that the estate received fair compensation for the

railroad's assets. After all was settled the name of the company was changed to American Financial Enterprises, Inc., which as

of 2006 is part of the Great American Insurance Company.

2nd Bankruptcy U.S. Supreme Court, by 7-2 vote, overrules Special Court in Philadelphia and holds that 3R Act is not an unconstitutional

seizure of property; creditors of the bankrupt railroads are entitled to sue in claims courts to contest compensation awarded

under the 3 R Act; suit was brought by New Haven Trustees and other Penn Central creditors; Justices William O. Douglas

and Stewart Potter dissent; Douglas charges allowing creditors to pursue claims will inflate cost of Conrail to $10-12 billion

and be a windfall for the old owners.

End of Service The New England Transportation Company discontinues trucking operations.

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