The Difference Between a Government Run Railroad and a Nationalized Railroad

Conray is a government-run railroad. It was founded by the U.S. federal government in 1887. The company has been nationalized since then, but still operates as a private corporation with 85% ownership of shares. In its first three years it posted a million dollar loss each day and had to be directed to make money. Conray went from having one train a day to just one train every two days.