He also had a lucrative business acting as court-appointed receiver of bankrupt railroads.

The Congress quickly created a bill to nationalize the bankrupt railroads.

Ann Arbor Railroad (1895-1976), one of the bankrupt railroads that was reorganized in 1976.

Just settling the nearly $17 billion in claims against the seven bankrupt railroads took the better part of nine years.

Federal courts, however, kept bankrupt railroads in operation.

In the late 1970's, the Jersey City waterfront was a web of train terminals owned by bankrupt railroads.

This was the start of his career as a rebuilder of bankrupt railroads.

It was closed in 1954 in order for the bankrupt railroad to reduce costs.

The railway began as the consolidation of bankrupt railroads on 1898.

Amtrak began operating in 1971 after the government took over passenger service from bankrupt railroads.