Last from the Golden Age?

I'd think that would depend on your definition of a major railroad and when the golden age was.

To me the Florida East Coast (FEC) qualifies as its still operating under the original name and over the same route (with the exception of the Key West Extension of course).

Ben
 
Same with the KCS, CN, B&LE, technically IC (subsidiary of CN), a bunch of shortlines like the Union Railroad. The W&LE has regained it's independance along with the P&WV (owned by the W&LE), the St. Charles Air Line in Chicago is still operating, among others. There are a bunch of them left... But it's nothing but a shadow of what it used to be. Even though the CP and CN are Canadian, I still consider them somewhat American, since they both had trackage in the US at that time.
 
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The Piedmont and Northern Railway has also started up again under new management. Not sure if it counts but it is on the same trackage as the original P&N.
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