Wikipedia:WikiProject Trains/ICC valuations/Allegheny Terminal Company
Interstate Commerce Commission, Valuation Reports, Volume 31
Allegheny Terminal
[edit]Introductory
[edit]The Allegheny Terminal Company is a corporation of the State of Pennsylvania, having its principal office at Ridgway, Pa. Its operating and accounting offices are at Rochester, N. Y. It is controlled by the Allegheny & Western through ownership of a majority of the outstanding capital stock. Its property was leased to the Allegheny & Western by verbal agreement from the date it was placed in operation, and, together with the property of the Allegheny & Western, is operated by the carrier [Buffalo, Rochester and Pittsburgh Railway].
Corporate History
[edit]The Allegheny Terminal Company was incorporated on July 28, 1899, under the general laws of the State of Pennsylvania, for the purpose of constructing, maintaining, and operating a railroad at Pittsburgh, Pa., from a connection with the line of the Pittsburg and Western Railway Company to a point near Robinson Street. Its organization was completed on August 3, 1899.
Development of Fixed Physical Property
[edit]The property owned by the Allegheny Terminal Company on date of valuation was constructed for it by the Allegheny & Western in 1899 and 1900. The additions and betterments subsequent to June 30, 1900, have been made by the carrier.
Leased Railway Property
[edit]The property of the Allegheny Terminal Company has been leased to the Allegheny & Western since the date it was opened for operations. There is only a verbal arrangement covering the use of the property. This did not specify any rental. The carrier acquired a lease of the property of the Allegheny & Western under an agreement effective January 1, 1900, for the term of the latter's corporate existence, and succeeded to the Allegheny & Western's rights to operate the property of the Allegheny Terminal Company, without payment of rental.