Penn Central The worm logo, as it came to be called by observers, made its debut on Feb. 1 1968 with the creation of Penn Central Transportation Company. Ten years in the making, this merger finally became official in 1968 but ultimately ended in bankruptcy on June 21, 1970. Penn Central and other bankrupt northeast carriers would later be reorganized by the U.S. Government into Conrail on April 1, 1976.
