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(Source: Railfan & Railroad Magazine, November 15, 2022)

In some ways, the story of 20th century railroading was the story of mergers and bankruptcies, of ends more than beginnings, even though the overall industry itself, over the same period, slowly grew stronger and more powerful than ever before. To look at North American railways today is to see fewer companies, yet also more tonnage and traffic than at almost any prior time.

Full story: Railfan & Railroad Magazine