Pennsylvania Company

Pennsylvania Company
Company type	Holding company
Industry	Railroads, later real estate and entertainment
Founded	April 7, 1870; 156 years ago in Pennsylvania, United States
Founder	William Thaw
Defunct	1918
Fate	Leases transferred to Pennsylvania Railroad; later merged into Penn Central Transportation (1968)
Headquarters	Pennsylvania, United States
Key people	Tom Scott (President at start of operations)
Products	Railroad holding; later diversified into real estate and theme parks

The Pennsylvania Company functioned as a prominent holding company overseeing several crucial railroads, notably the Pittsburgh, Fort Wayne and Chicago Railway, which served as the Pennsylvania Railroad's (PRR) principal corridor to Chicago. Together with the Pittsburgh, Cincinnati, Chicago and St. Louis Railroad and the Vandalia Railroad, these lines collectively constituted the Pennsylvania Lines West of Pittsburgh, fully integrated into the PRR by 1921.

History

Formed on April 7, 1870, in Pennsylvania, the Pennsylvania Company was created as a holding entity under a comprehensive charter. Operations commenced on April 1, 1871, with Tom Scott assuming the presidency after founder William Thaw. The company unified multiple railroads to enhance PRR’s western system, including:

Pittsburgh, Fort Wayne and Chicago Railway – a direct route linking Pittsburgh and Chicago
Erie and Pittsburgh Railroad – connecting Pittsburgh to Erie
Indianapolis and Vincennes Railroad (subsequently merged into Vandalia Railroad)
Cleveland and Pittsburgh Railroad – taken over from Jay Gould’s control in 1871
Several other regional railroads acquired or merged between 1871 and 1912 to broaden access across Ohio, Indiana, Illinois, and Pennsylvania

Additionally, the Pennsylvania Company briefly managed the Erie Canal of Pennsylvania from 1870 to 1871, demonstrating its involvement in diverse transportation assets.

After federal oversight by the United States Railroad Administration began in 1918, all leases held by the Pennsylvania Company were transferred to PRR. By 1920, these routes were reorganized into four PRR divisions: Eastern, Central, Northwestern, and Southwestern.

Following its railroad operations, the Pennsylvania Company reincorporated in Delaware in 1958 to expand beyond railroads into sectors such as real estate. It continued to exist through the 1968 merger that created Penn Central Transportation.

In the early 1970s, the company established subsidiaries like Pennrec Company to venture into theme park investments—acquiring interests including Six Flags Great Adventure and Stars Hall of Fame—and purchased Penn Arlington, Inc., which owned Six Flags Over Texas.

This evolution signified a strategic pivot from traditional railroad ownership toward diversified investments within entertainment and real estate industries.

External links