WI: The Pennsylvania Railroad doesn't gain the PCC&StL?

https://en.m.wikipedia.org/wiki/Pittsburgh,_Cincinnati,_Chicago_and_St._Louis_Railroad

In 1921, the Pennsylvania leased the medium-sized Pittsburgh, Cincinnati, Chicago & St. Louis Railroad (often referred to as the Pan Handle Route). It seems this was the end of the line's independence, becoming the Pennsy's southern line to Chicago.

But what if the Pennsy hadn't managed to gain control of it? Would it be work closely with them (possibly trackage rights to Chicago?), ally with the New York Central, or something else?
 
I was a young summer clerk at a New York law firm when the Penn Central merger was going through. It was a morass of complexity and the combined entity failed a few short years later. Overregulation and bad management condemned the railroads to disaster until the Staggers Act opened things up in 1980.
 
Top