United States Railway Association
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The United States Railway Association was the Corporation created by federal law that oversaw Conrail.
President Nixon signed the Regional Rail Reorganization Act of 1973 into law. The 3R Act, as it was called, provided interim funding to the bankrupt railroads and defined a new Consolidated Rail Corporation under the AAR's plan.
The 3R Act also formed the United States Railway Association, another government corporation, taking over the powers of the Interstate Commerce Commission with respect to allowing the bankrupt railroads to abandon unprofitable lines. The USRA was incorporated February 1, 1974, and Edward G. Jordan, an insurance executive from California, was named president on March 18 by Nixon. Arthur D. Lewis of Eastern Airlines was appointed chairman April 30, and the rest of the board was named May 30 and sworn in July 11.
Under the 3R Act, the USRA was to create a Final System Plan to decide which lines should be included in the new Consolidated Rail Corporation. (See List of railroads transferred to Conrail). Unlike most railroad consolidations, only the designated lines were to be taken over; the others were to remain with the old companies along with non-rail related properties. The plan was unveiled July 26, 1975, consisting of lines from Penn Central and six other companies - the Ann Arbor Railroad (bankrupt 1973), Erie Lackawanna Railway (1972), Lehigh Valley Railroad (1970), Reading Company (1971), Central Railroad of New Jersey (1967) and Lehigh and Hudson River Railway (1972). Controlled railroads and jointly owned railroads such as Pennsylvania-Reading Seashore Lines were also included (see list of railroads transferred to Conrail for a full list). It was approved by Congress on November 9, and on February 5, 1976 President Ford signed the Railroad Revitalization and Regulatory Reform Act of 1976, which included this Final System Plan, into law.
The U.S. Railway Association was abolished on January 1, 1987 by Congress under 45 USC 1341.
The United States Railway Association is not to be confused with the United States Railroad Administration. Between 1917-1920, the U.S. Railroad Administration sought to nationalize the U.S. railroad system by creating 17 - 20 regional railroads.
