(erielack) re:REA Questions

[John Pilch <"jppilch_@_worldnet.att.net">]

re: REA

During WW I the US government took control of the express businesses (about
a half dozen) and formed the American Railway Express Company. While under
government control, facilities, terminals etc were consolidated or closed.
When it was time to give the companies back, there was no way to
re-construct the original arrangements. A group of 69 railroads bought
American Railway Express Company from the government and renames it Railway
Express. 1000 shares of stock were issued. The shares were divided by the
amount of express revenue generated by each company. The largest owner was
the PRR with over 100 shares. This took place in 1929.
REA went away around 1975. I don't know if any corporate entity still exists.
UPS picked up most of the package business (7 days coast to coast by truck)
The need for express messenger service was still around because Federal
Express was started around 1981-82 with overnight air delivery. FedEx has
been successful.

John Pilch

>Was it owned by the railroads or was it a private company?
>
>What year did it go out of business/shut down/go into bankruptcy??
>
>Are there any corporate remnants remaining???
>

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