The Long Island Rail Road last year carried more passengers (109 million) than any other road in the U.S., yet it went bankrupt three months ago. Why? Thousands of commuters who ride in & out of Manhattan every day on its crowded, squalid, undependable trains have long thought that they had the answer to that question: they thought that the Pennsylvania Railroad, which owns the Long Island, drove its subsidiary on the rocks by overcharging it for services rendered and underpaying it for services received.
Last week the Nassau County (N.Y.) Transit Commission,...
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