KYW Flashback: The End Of The Reading Railroad

PHILADELPHIA (CBS) -- It was once the engine of Philadelphia commerce. It's whistles and chugging echoed through the Pennsylvania countryside when coal was King.

But by 1976 KYW reporters were detailing the demise of an industrial giant.

The Reading Railroad which began life in 19th century Philadelphia and became one of the largest companies in the nation, was about to succumb to vastly changing times.

The nation no longer ran on coal and the highways that formed a spider web across the state and the nation had stripped the rails of their lucrative short-haul traffic.

The monopoly game was over and bankruptcy ended a major chapter in Philadelphia history.

It's legacy is a public market.