Housatonic

Company History: The original Housatonic Railroad was chartered in 1836 and was acquired by the New York, New Haven & Hartford Railroad in 1892. At that time, the railroad was 175 miles long, with 60 passenger depots. Though the last passenger train ran on April 30, 1971, that may soon change. A portion of the railroad was then land-banked until 1983 when the line from Canaan to New Milford, Connecticut was reopened and the Housatonic Railroad name was used again. The railroad expanded to Pittsfield, MA in 1991 and expanded again in 1992 to include the line from Derby, Connecticut to Beacon, New York. The railroad now consists of 161 miles of rail lines devoted to freight transportation.

Successor/Parent History: The New York, New Haven and Hartford Railroad (reporting mark NH), commonly known as the New Haven, was a railroad that operated in New England from 1872 to 1968, dominating the region's rail traffic for the first half of the 20th century.

Beginning in the 1890s and accelerating in 1903, New York banker J. P. Morgan sought to monopolize New England transportation by arranging the NH's acquisition of 50 companies, including other railroads and steamship lines, and building a network of electrified trolley lines that provided interurban transportation for all of southern New England. By 1912, the New Haven operated more than 2,000 miles (3,200 km) of track, with 120,000 employees, and practically monopolized traffic in a wide swath from Boston to New York City.

This quest for monopoly angered Progressive Era reformers, alienated public opinion, resulted in high prices for acquisitions, and increased construction costs. Debt soared from $14 million in 1903 to $242 million in 1913, even as the advent of automobiles, trucks and buses reduced railroad profits. Also in 1913, the federal government filed an anti-trust lawsuit that forced the NH to divest its trolley systems.

The line became bankrupt in 1935, was reorganized and reduced in scope, went bankrupt again in 1961, and in 1969 was merged with the Penn Central system, formed a year earlier by the merger of the also bankrupt New York Central Railroad and Pennsylvania Railroad; Already a poorly conceived merger, Penn Central proceeded to go bankrupt in 1970, becoming the largest bankruptcy in the U.S. until the Enron Corporation superseded it in 2001. The remnants of the system now comprise Metro-North Railroad's New Haven Line, (parts of) Amtrak's Northeast Corridor, Shore Line East, parts of the MBTA, and numerous freight operators such as CSX and the Providence and Worcester Railroad. The majority of the system is now owned publicly by the states of Connecticut, Rhode Island, and Massachusetts.

Read more on Wikipedia and New Haven Railroad Historical and Technical Association, Inc.

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