Now sitting quietly in Toccoa, Georgia, this old Conrail train harks to a trouble past in US history. In mid-1973, under Judge John P. Fullam, the bankrupt Penn Central threatened to end all operations by the end of the year if they did not receive government aid by October 1. At that time it would liquidate and cease operating completely, immediately threatening freight and passenger traffic in the US. The Congress quickly created a bill to nationalize the bankrupt railroads. The Association of American Railroads, which opposed nationalization, submitted an alternate proposal for a government-funded private company. Fullam kept the Penn Central company operating into 1974, when, on January 2, after threatening a veto, President Richard Nixon signed the Regional Rail Reorganization Act of 1973 into law.