[PRCo] Re: Holding___Company

[Fred Schneider]

In addition to the interest in Pittsburgh minutia, note something of even
greater significance ... that there were three Pittsburgh Railways.  This is
precisely how street car operations lasted as long as they did.  They didn't
last.  They liquidated time after time after time with major and minor debts
being written off each time.  We tend to think that liquidation was a
problem with the little companies, but this graphically shows that there was
no limitation on the amount of money that could be lost moving passengers.
Railroads also learned it.  Now we are recognizing that the airlines have
the same problems.

"Edward H. Lybarger" wrote: