New book Derailed by Bankruptcy - Life After The Reading Railroad by Howard H Lewis



Just read this book. It's quite interesting. Written by the Lawyer who worked the deal out between the stockholders, debtors and the Government after the CR takeover. Some of it is a bit dry but the history of what was saved and what was sold or scrapped is quite interesting. That is why I found this book fascinating.

Here is a page from the book on the sale and disposition of the Black Diamond. Bill Hesse wanted badly to get the loco back and give it to the RRMPA.

I found it hilarious at the thought of their suggestion that a Lawyer (H Hughes) and a RDG CO President (B . Hesse) would "fire the loco up and drive it home". Could you just picture that thought in your mind? BTW it sold for $15,000.

It also mentions such dispositions of objects like the P&R Corporate Boardroom Desk from the trainshed in Philly.

John Caples

Your review of Derailed by Bankruptcy - Life After The Reading Railroad confirms my idea that it would provide answers to "Where are they now...?" style questions. It will go on my list of books to read or acquire.

You mentioned discussion of disposition of the "Black Diamond" and that it sold for $15,000. Is this the little inspection locomotive now at the Museum of Transport in St. Louis, MO?

George Nelson

Yes that is the same loco at St. Louis.
BTW I borrowed the book through the inter library loan at my local library.
John Caples


WindsorSpring wrote:

The book isn't really a detailed list of what went where. It does give some ideas as to what was kept or tossed. It mainly focuses on the behind the scenes look at why the Reading was split up and who got the leftovers. It also focuses on this Lawyers (authors) role in trying to serve up the leftovers and the hell he went through to do it.
John Caples