Wikipedia:WikiProject Trains/ICC valuations/Kersey Railroad

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The railroad of The Kersey Railroad Company, herein called the Kersey Railroad, is located within the State of Pennsylvania and extends from Paine to Cardiff, with branches to Five Points and Tyler, aggregating 16.908 miles.

It is controlled, through ownership of its entire capital stock, by the Pittsburg, Shawmut and Northern which acquired such control from the Interior Construction & Improvement Company. The last-named company had caused the incorporation of the Kersey Railroad as a part of the arrangements made by it, under a contract dated April 19, 1899, which arrangements contemplated the acquisition of railroad property to be operated, through lease or otherwise, by the carrier as is more fully explained in the report on the last-named company.

CORPORATE HISTORY

The Kersey Railroad was incorporated March 13, 1900, under the general laws of Pennsylvania.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the Kersey Railroad was all acquired by construction, as follows:

Paine to Weedville, Pa. 1900-1901 9.56

Weedville to Cardiff, Pa. 1901-1902 2.52

Cardiff to Five Points, Pa. 1918-1919 1.94

Force to Tyler, Pa. 1918-1919 2.89

Total recorded mileage 16.93

Difference between total recorded mileage and mileage inventoried as of date of valuation 0.022

Mileage inventoried as of date of valuation 16.908

The 12.08 miles acquired during the period 1900 to 1902 were constructed by the Interior Construction & Improvement Company, under contracts with the carrier. The 4.85 miles acquired during 1918 and 1919 were constructed by the receiver of the carrier.

HISTORY OF CORPORATE FINANCING