American Railroada at Present in Receivership
During The Year 1932, the third year of the depression, five Class I railroads were placed in receivership. They were the Central of Georgia, the St. Louis-San Francisco, the New Orleans Great Northern, the Norfolk Southern, and the Mobile & Ohio Railroad.
During the second year of the depression, 1931, four Class I roads were placed in receivership: the Wabash, the Ann Arbor, the Fort Smith & Western, and the Florida East Coast Railway. In the first year of the depression only one major railroad receivership was decreed—that of the Seaboard Air Line, in December, 1930.
The ten Class I railroads placed in the hands of receivers during the last three years operated 17,964 miles of line. In addition to these ...