Wikipedia:WikiProject Trains/ICC valuations/Lehigh Valley Railroad
Interstate Commerce Commission, Valuation Reports, Volume 34
Lehigh Valley Railroad
[edit]Location and General Description of Property
[edit]The railroad of the Lehigh Valley Railroad Company, herein called the Lehigh Valley, is a standard-gage steam railroad, located in the States of New York, New Jersey, and Pennsylvania. The railroad owned by this company lies almost wholly in the State of Pennsylvania, except for a short section of the main line across the Delaware River into New Jersey, and some yard tracks and terminal property in New York, N. Y. It extends from Phillipsburg, N. J., to Wilkes-Barre, Pa., and from Penn Haven Junction, via Hazleton, to Mount Carmel, all in Pennsylvania. The Lehigh Valley solely uses under lease terminal property in New York, Buffalo, Suspension Bridge, Rochester, and North Fair Haven, N. Y.; and Wilkes-Barre, Pa.
The system operated by the Lehigh Valley, consisting of its owned and leased lines, embraces a main stem, with numerous lateral lines, extending from its termini at Jersey City, N. J., to Buffalo, N. Y., and running a general northwesterly direction across the State of New Jersey, through the anthracite coal region of northeastern Pennsylvania, into central and extreme western New York. The Lehigh Valley also has an entrance into the city of New York, which it reaches by ferry from Jersey City. In addition to its rail lines, the Lehigh Valley operates a fleet of sea-going tugs and barges for the transportation of coal between its eastern terminals and various New England coastwise points, and a line of steamships on the Great Lakes between Buffalo, N. Y., Chicago, Ill., and Duluth, Minn., for the transportation of coal, iron ore, and other commodities between these points.
The main stem of the system between Jersey City, N. J. and Buffalo, N. Y., 447 miles, is double track throughout, with third and fourth tracks on some of the principal grades and approaches to important terminals. Other important double-track main lines extend from Penn Haven Junction to Mount Carmel, Pa., and from South Plainfield to Perth Amboy, N. J. Of the entire operated lines about 49 per cent is single track, 41 per cent double track, 7 per cent three track, and 3 per cent four track.
The Lehigh Valley wholly owns 324.225 miles of road, all of which it uses. It also wholly uses 1,085.329 miles of road owned by other companies, of which 2.588 miles, from New Boston Junction to Lehigh Colliery, Pa., are owned by the Mill Creek Coal Company and 0.572 mile at Perth Amboy, N. J., is owned by the Raritan Terminal & Transportation Company, both noncarrier corporations. The remaining mileage, owned by lessors of the Lehigh Valley, is described in the paragraphs below. In addition to the above, 0.041 undivided mile, shown in Appendix 1, is jointly owned by a lessor with another carrier, and the railroad of the Bay Shore Connecting Railroad, 1.103 undivided miles, is used jointly with The Central Railroad Company of New Jersey.
The Lehigh Valley wholly owns and uses 926.905 miles of all tracks, wholly owns but does not use 0.245 mile of all tracks, and wholly uses but does not own 2,458.245 miles. These tracks, consisting of first main track, second and other main tracks, and yard tracks and sidings, are classified in the trackage table in Appendix 1. In addition to the above, the Lehigh Valley jointly uses but does not own 3.397 undivided miles of all tracks, of which 0.647 mile is jointly owned by its lessors with other carriers, and 2.750 miles is wholly owned by the Bay Shore Connecting Railroad Company, but is jointly used by the Lehigh Valley and The Central Railroad Company of New Jersey, as shown in the trackage table in Appendix 1.
Introductory
[edit]The Lehigh Valley is a corporation of the State of Pennsylvania, having its principal office at Philadelphia, Pa.
It is controlled by its stockholders, no one of whom owns a majority of the capital stock.
On the other hand, the Lehigh Valley solely controls, through ownership of capital stock to the extent indicated below, the transportation companies listed hereunder, whose several common-carrier properties it operates:
| Company | Stock Ownership Per Cent |
|---|---|
| Loyalsock Railroad | 100 |
| Pennsylvania and New York | 100 |
| Easton and Northern | 100 |
| Schuylkill and Lehigh Valley | 100 |
| Lehigh Valley Rail Way | 100 |
| Hayts Corners, Ovid and Willard | 100 |
| Lehigh and New York | 60.50 |
| Lehigh Valley of New Jersey | 100 |
| Montrose Railroad | 100 |
| Delaware, Susquehanna and Schuylkill | 100 |
| Lehigh-Buffalo Terminal | 100 |
| Lehigh Valley Transportation Company | 100 |
In addition, The Lehigh Valley solely controls, through ownership of all the capital stock, the Lehigh Valley Harbor Terminal Railway Company, whose property is under construction on date of valuation. It also solely controls, through ownership of capital stock to the extent indicated below, the following noncarrier corporations, whose properties it uses, under lease:
| Company | Stock Ownership Per Cent |
|---|---|
| Morris Canal and Banking Company | 97 |
| National Storage Company | 100 |
| United Real Estate Company | 100 |
| Consolidated Real Estate Company | 100 |
| Pioneer Real Estate Company | 100 |
The Lehigh Valley controls jointly with other companies, through ownership of capital stock to the extent indicated, the following named companies, the properties of which are separately operated:
| Company | Stock Ownership Per Cent |
|---|---|
| Bay Shore Connecting Railroad Company (jointly controlled with The Central Railroad Company of New Jersey) | 50 |
| The Buffalo Creek Railroad Company (jointly controlled with the Erie Railroad Company) | 50 |
| Philadelphia Harbor Transfer (jointly controlled with the Philadelphia and Reading Railway Company) | 50 |
| Mutual Terminal Company of Buffalo (jointly controlled with Erie Railroad Company; The New York Central Railroad Company; and The Delaware, Lackawanna & Western Railroad Company) | 25 |
In the chapter on investments in other companies, will be found detailed the ownership by the Lehigh Valley of stocks of certain other corporations. The records reviewed do not indicate the extent of control vested in the Lehigh Valley by virtue of such holdings.
The property of the Lehigh Valley has been operated by its own organization during its entire life.
Corporate History
[edit]The Lehigh Valley was Incorporated by special act of Pennsylvania, approved April 21, 1846, under the name of The Delaware, Lehigh, Schuylkill and Susquehanna Railroad Company. Its name was changed to Lehigh Valley Railroad Company by special act of the above named State, approved January 7, 1853.
Since its incorporation, the Lehigh Valley has acquired the franchises, rights, and properties of five companies. The Lehigh Valley, itself, and those corporations, together with their predecessors, total seven corporations, of which four underwent a change of name, and comprise the line of corporate succession culminating in the Lehigh Valley as at present constituted.
The following chart shows the names of the corporations, the respective dates of incorporation, and for each predecessor the date of succession, the immediately succeeding corporation, and the manner of succession. Reference to each of these corporations is made in the last column by its respective number shown in the first column.
| No. | Name | Incorporation | Succession |
|---|---|---|---|
| 1 | Lehigh Valley Railroad Company. | See 2. | |
| 2 | The Delaware, Lehigh, Schuylkill and Susquehanna Railroad Company. | Under special act of Pennsylvania, Apr. 21, 1846. | Name changed to 1, Jan. 7, 1853. |
| 3 | President and Directors of the Beaver Meadow Railroad and Coal Company. | Under special act of Pennsylvania, Apr. 7, 1830. | Conveyed to 1, July 8, 1864. |
| 4 | Penn Haven and White Haven Railroad Company. | Under special act of Pennsylvania, May 4, 1857. | Conveyed to 1, Aug. 5, 1864. |
| 5 | The Lehigh and Mahanoy Railroad Company. | Under laws of Pennsylvania, Dec. 8, 1862. | Conveyed to 1, June 20, 1866. |
| 6 | Quakake Railroad Company. | Under special act of Pennsylvania, Apr. 25, 1857. | Sold under foreclosure, June 11, 1862; conveyed to 5, Dec. 8, 1862. |
| 7 | Hazleton Railroad Company. | See 8. | Conveyed to 1, May 25, 1868. |
| 8 | Hazleton Coal Company. | Under special act of Pennsylvania, Mar. 18, 1836. | Name changed to 7, Mar. 9, 1865. |
| 9 | Lehigh Luzerne Railroad Company. | See 11. | Conveyed to 1, June 16, 1868. |
| 10 | The Lehigh and Luzerne Railroad Company. | See 11. | Name changed to 9, Apr. 8, 1857. |
| 11 | Jeddo and Carbon County Railroad Company. | Under special act of Pennsylvania, Mar. 23, 1854. | Name changed to 10, Feb. 12, 1856. |
Development of Fixed Physical Property
[edit]The road wholly owned by the Lehigh Valley, amounting to 324.225 miles, was acquired through construction, merger, and purchase.
The data with respect to the miles of road constructed, the years in which the various portions of the line were constructed, and the manner in which the Lehigh Valley acquired the property are indicated in the following table, wherein, to facilitate comparison with the table showing corporate succession, previously given, the same order of corporations is maintained:
| [Mileage detail] |
[Mileage subtotal] |
Recorded mileage | |
|---|---|---|---|
| Acquired by construction: | |||
| Phillipsburg, N. J., to Mauch Chunk, Pa., 1855. | 45.72 | ||
| White Haven to Wilkes-Barre, Pa., 1867. | 30.30 | ||
| Bear Creek Junction to Bear Creek, Pa., 1880. | 5.36 | ||
| Fair View to Avoca, Pa., 1888. | 18.10 | ||
| Hazleton to Laurel Junction, Pa., 1887. | 12.05 | ||
| Hazle Creek Junction and Ashmore to Hays Creek Junction, Pa., 1911. | 14.03 | ||
| Locust Junction to Tomhicken, Pa., 1871. | 8.84 | ||
| Numerous branches, each less than 5 miles in length, constructed at various dates. | 79.13 | ||
| 213.53 | |||
| Acquired by merger: | |||
| From the President and Directors of the Beaver Meadow Railroad and Coal Company July 8, 1864— | |||
| Constructed by that company between Mauch Chunk and Leviston, Pa., and branch, 1833-1836. | 19.97 | ||
| Constructed by the Hazleton Railroad Company, between Penn Haven Junction and Hazleton, Pa., 1838 or 1841. | 1.70 | ||
| 21.67 | |||
| From the Penn Haven and White Haven Railroad Company, Aug. 5, 1864— | |||
| Constructed by that company, Penn Haven to White Haven, Pa., between 1857 and 1864. | 14.83 | ||
| From the Lehigh and Mahanoy Railroad Company, June 20, 1866— | |||
| Constructed by that company— | |||
| Pine Junction to Mahanoy City, Pa., 1862-1863. | 4.91 | ||
| Park Place to Barry Junction, Pa., 1863-1864. | 2.46 | ||
| Barry Junction to Mount Carmel, Pa., 1864-1865. | 17.43 | ||
| Laurel Junction to New Boston Junction, Pa., 1866. | 5.45 | ||
| Acquired from the Quakake Railroad Company— | |||
| Black Creek Junction to Pine Junction, Pa. (About 12 miles was purchased by the Quakake Railroad Company from the Catawissa, Williamsport and Erie Railroad Company in 1857. The last-named company is a predecessor of the Catawissa Railroad Company, which is a lessor company of the Philadelphia and Reading Railway Company. The remaining five miles were constructed by the Quakake Railroad Company in 1858.) |
16.66 | ||
| 46.91 | |||
| From the Hazleton Railroad Company, May 25, 1868— | |||
| Constructed by that company, Hazle Creek Junction to Hazleton, Pa., and branch, 1838 and 1841. | 8.53 | ||
| From the Lehigh Luzerne Railroad Company, June 16, 1868— | |||
| Constructed by that company, Ashmore to Freeland, Pa., and branches, 1861. | 10.68 | ||
| 102.62 | |||
| Acquired by purchase: | |||
| From the Spring Mountain Coal Company, Nov. 7, 1868, Beaver Meadow to Jeanesville, Pa. | 4.00 | ||
| From the Cranberry Branch Railroad, December, 1870, connection for Hazleton Branch. | 2.00 | ||
| 6.00 | |||
| Total. | 322.160 | ||
| Difference between total recorded mileage and mileage inventoried as of date of valuation. | 2.075 | ||
| Mileage inventoried as of date of valuation. | 324.225 | ||
Leased Railway Property
[edit]The Lehigh Valley uses on date of valuation property owned by other companies and other companies use property owned by the Lehigh Valley to the extent indicated in the statement below. The description of the property, the period and terms of use, and the rentals accrued and charged or credited to income for the year ending on date of valuation are as follows:
| Rentals | |
|---|---|
| Solely owned or controlled, but jointly used, used with— | |
| The Central Railroad Company of New Jersey— | |
| Tracks, 1.85 miles of main line, National Junction to National Docks Branch, N. J.; stipulated payments, 15 cents per ton on coal and merchandise traffic, $3.15 per empty car and $5 per loaded car. | $113,552.02 |
| Spur track, 1.19 miles, Br. N. D. F. 2, N. J. | ...... |
| Spur track, 0.47 mile, at Cummunipaw Tower, N. J. | ...... |
| Tracks, 0.02 mile of main line, at Constable Hook, N. J. | ...... |
| Tracks, 0.24 mile of main line, on Danaker Quarry branch, N. J. | ...... |
| Station and interlocking plant at Penn Haven Junction, Pa.; stipulated payments, $180 per annum, one-half of agent's wages, and two-thirds of towerman's wages. | 120.00 |
| Allowance on passengers carried, at Glenonka, N. J.; stipulated payment 6 cents per passenger. | 635.58 |
| The Pennsylvania Railroad Company— | |
| Tracks, 1.53 miles of main line, National Docks Branch, N. J.; stipulated payment 15 cents per ton on coal and merchandise traffic. | 35,282.77 |
| Spur track, 0.71 mile, at New Jersey Junction, N. J. | ...... |
| Spur track, 0.25 mile, at Oil Yard, N. J. | ...... |
| Spur track, 0.14 mile, at Wilkes-Barre, Pa. | ...... |
| Tracks, 27.75 miles of main line, New Boston Junction to Gum Run, Pa.; stipulated rental one-half of gross earnings. | 128,136.98 |
| Tracks, 1.75 miles of main line, at Buffalo, N. Y. | ...... |
| Passenger station at Wilkes-Barre, Pa.; stipulated payments, proportion of rental and expense of maintenance and operation, based on number of trains moved. | 1,579.00 |
| Passenger station at Mount Carmel, Pa.; stipulated rental, 46.1 per cent of passenger and 53.6 per cent of freight earnings. | 339.78 |
| Passenger station at Tomhicken and New Boston Junction, Pa.; stipulated payment one-half of maintenance and operation. | 76.44 |
| Philadelphia and Reading Railway Company, tracks, 2.12 miles of main line, Slatington to Little Run Junction, Pa.; stipulated payments, 5 cents per passenger and 10 to 15 cents per ton on coal and merchandise. | 1,261.90 |
| The Delaware and Hudson Company— | |
| Tracks, 2.14 miles of main line, Wilkes-Barre to Delaware and Hudson Junction, Pa. | ...... |
| Tracks, 0.59 mile of main line on Miner Springs branch, Pa.; stipulated rental $450 per annum. | 450.00 |
| Passenger station at Wilkes-Barre, Pa.; stipulated payments, proportion of rental and expense of maintenance and operation, based on number of trains moved. | 2,632.13 |
| The Delaware, Lackawanna & Western Railroad Company, tracks, 1 mile of main line on Mill Hollow branch, Pa. | ...... |
| Lehigh and New England Railroad Company, spur track, 1.88 mile, at Slatington, Pa. | ...... |
| Susquehanna and New York Railroad Company, tracks, 1.54 miles of main line, Towanda Junction to Towanda, Pa.; stipulated payment $1 per day per passenger train. | 266.05 |
| Susquehanna Connecting Railroad Company, tracks, 0.29 mile of main line on Austin branch. Pa. | ...... |
| Erie Railroad Company— | |
| Spur track, 0.88 mile, at Duryea Junction, Pa. | ...... |
| Tracks, 0.70 mile of main line, at Wyoming Junction, Pa. | ...... |
| The New York Central Railroad Company— | |
| Tracks, 2.36 miles of main line at National Junction, N. J. | ...... |
| Spur track, 1.19 miles, Branch N. D. F. 2, N. J. | ...... |
| Spur track, 0.96 mile, at Communipaw Tower, N. J. | ...... |
| Passenger station at Monroe Street, Auburn, N. Y.; stipulated payment $2,000 per annum. | 260.00 |
| Buffalo, Rochester and Pittsburgh Railway Company, station and facilities at Pittsburgh and Lehigh Junction, N. Y. stipulated payment, one-half of maintenance and operation. | 50.04 |
| Solely used, but not owned, leased from— | |
| Loyalsock Railroad, entire property; term, life of charter of the Loyalsock Railroad less one day, under the terms of an agreement made in 1884; stipulated annual rental, interest on funded and floating debt; Lehigh Valley owns all of the funded debt and no interest or rental is accrued. | ...... |
| Pennsylvania and New York, entire property; term 99 years from Dec. 1, 1888; stipulated annual rental, dividends, as earned, on preferred stock, interest on funded and floating debt, and organization expenses. | 387,500.00 |
| State Line and Sullivan, entire property; term 50 years from May 1, 1884. | 40,000.00 |
| Easton and Northern, entire property; terms, operated by the Lehigh Valley through ownership of entire capital stock; the Lehigh Valley also owns all but $51,000 par value of the funded debt; stipulated annual rental 4.5 per cent on the $51,000 par value of funded debt not held by the Lehigh Valley. | 2,295.00 |
| Schuylkill and Lehigh Valley, entire property; term, operated by the Lehigh Valley through ownership of the entire capital stock. | ...... |
| Lehigh Valley Rail Way, entire property; term 999 years from Jan. 1, 1891; stipulated annual rental, $1, organization expenses, interest on funded debt, and 5 per cent on capital stock; no interest is accrued on the funded debt and capital stock owned by the Lehigh Valley. | 820,000.00 |
| Hayts Corners', Ovid and Willard, entire property; term, leased to The Geneva, Ithaca and Sayre Railroad Company (a predecessor of the Lehigh Valley Rail Way) for 999 years under agreement dated Dec. 27, 1882; Lehigh Valley assumed lease in January, 1891; stipulated annual rental, $1. | ...... |
| Lehigh and New York, entire property; term 999 years from Aug. 24, 1885; stipulated annual rental, entire net income from operation; improvements by the Lehigh Valley to be treated as operating expenses; Lehigh Valley guarantees principal and 4 per cent interest on $2,000,000 par value of first-mortgage bonds. | 80,000.00 |
| Lehigh Valley of New Jersey, entire property; term 99 years from July 1, 1914; stipulated annual rental, interest on funded debt. | 800,000.00 |
| Montrose Railroad, entire property; term, Nov. 1, 1905, to Dec. 1, 1987; stipulated annual rental, interest on funded debt and floating debt and organization expenses, on which no interest is accrued. | ...... |
| Delaware, Susquehanna and Schuylkill, entire property; term, length of the charter of the Delaware, Susquehanna and Schuylkill, less one day; stipulated annual rental, interest on funded and floating debt and organization expenses; the company has no funded or floating debt outstanding. | ...... |
| Lehigh-Buffalo Terminal, entire property; term, operated by the Lehigh Valley through ownership of the entire capital stock. | 230.46 |
| Lehigh Valley Transportation Company, floating equipment leased to the Lehigh Valley, which owns the entire capital stock. | ...... |
| Raritan Terminal & Transportation Company, tracks, 0.572 mile of main line, to reach certain industrial plants in Perth Amboy, N. J.; term 25 years from July 1, 1908; stipulated annual rental, $2,000. | 2,000.00 |
| National Storage Company, tracks, 14.572 miles of yard tracks and sidings at Jersey City, N. J.; the Lehigh Valley owns the entire stock of the lessor. | ...... |
| Morris Canal and Banking Company, tracks, 1.214 miles of yard tracks and sidings at Phillipsburg, N. J.; Lehigh Valley owns 97 per cent of the capital stock of the lessor. | ...... |
| United Real Estate Company, real estate leased by the Lehigh Valley, which owns all of the capital stock of the lessor. | ...... |
| Consolidated Real Estate Company, real estate leased by the Lehigh Valley, which owns all of the capital stock of the lessor. | ...... |
| Pioneer Real Estate Company, industrial tracks, 4.785 miles, and real estate leased by the Lehigh Valley, which owns all of the capital stock of the lessor. | ...... |
| Chicago Dock and Canal Company, small amount of property leased by the Lehigh Valley, on which the latter has erected some buildings. | ...... |
| Mather Humane Stock Transportation Company, 190 freight-train cars are leased from this company by the Lehigh Valley. | ...... |
| New York Central Railroad Company, 11.388 miles of yard tracks, freight station and a water station, all located at Suspension Bridge, N. Y.; terms of rental not ascertained. | 11,794.44 |
| Jointly used, but not owned, owned or controlled by— | |
| The New York Central Railroad Company— | |
| Tracks, 14.96 miles of main line Towanda[sic - Tonawanda] Junction to Suspension Bridge, N. Y.; stipulated payments, operation and maintenance expenses divided on basis of cars handled; tickets honored on basis of one-half of local fares. | 30,092.81 |
| Tracks, 8.25 miles of main line, Wonalancet branch, near Tonawanda, N. Y.; stipulated payments, operation and maintenance expenses divided on basis of cars handled; Lehigh Valley pays one-third of 5 per cent on value of the property. | 4,107.15 |
| Stockyards and facilities at East Buffalo, N. Y.; Lehigh Valley pays 30 cents per car. | 550.20 |
| Passenger station at Sterling, N. Y.; Lehigh Valley pays one-half of expenses. | 1.40 |
| Tracks, 2.14 miles of main line, Cayuga to Lehigh Valley Junction, N. Y.; stipulated payment, one-half of 6 per cent per annum on value of road used. | 6,714.71 |
| Central New York Southern Railroad Corporation, industrial siding at Auburn, N. Y.; stipulated payment $1.25 for each loaded car. | 868.97 |
| The Central Railroad Company of New Jersey— | |
| Station at Jackson Avenue, Jersey City, N. J.; stipulated payment 10 per cent of fares of passengers using station. | 592.12 |
| Tracks, 6.65 miles of main line, Oak Island Junction to Jersey City, N. J.; stipulated rental $250,000 per annum. | 144,016.17 |
| Tracks, 0.08 mile of main line at Easton, Pa. | ...... |
| Erie Railroad Company— | |
| Passenger station at Waverly, N. Y.; stipulated payment, rental and expenses divided on basis of freight tonnage and passenger trains of each company. | 1,198.68 |
| Tracks, 0.88 mile of main line, Duryea Junction to Old Forge, Pa. | ...... |
| Tracks, 1.52 miles of yard track at Waverly, N. Y. | ...... |
| The New York, Chicago and St. Louis Railroad Company, trackage on cars interchanged over the line of The Buffalo Creek Railroad Company; stipulated payment 50 cents per loaded car and 25 cents per empty car. | 4,335.51 |
| Lehigh and New England Railroad Company— | |
| Use of yard at Stockerton, Pa., for interchange freight; stipulated payments, 6 per cent interest on one-half the cost of the yard, maintenance expenses divided equally. | 456.59 |
| Tracks, 0.44 mile of main line at Slatington, Pa. | ...... |
| New York, Ontario and Western Railway Company— | |
| Interlocking plant at Fish Creek Junction, N. Y.; stipulated payment, 23/35ths of expenses on leverage basis. | 46.09 |
| Tracks, 0.10 mile of main line at Sylvan Junction, N. Y. | ...... |
| The Pennsylvania Railroad Company— | |
| Merchandise freight trackage at Schuylkill Haven, Pa.; stipulated payments, track delivery, 15 to 30 cents per ton; warehouse delivery, 30 to 40 cents per ton. | 204.19 |
| Tracks, 1.84 miles of main line, Tomhicken to Gum Run, Pa.; stipulated payment, 50 per cent of gross earnings. | 2,221.01 |
| Tracks, 0.34 mile of main line at Buffalo, N. Y.; stipulated payment, 55 cents per car. | 557.34 |
| Peoples Railway Company, tracks, 3.47 miles of main line, Minersville to Pottsville, Pa.; stipulated payments, 5 cents per ton on freight and 5 cents per passenger. | 5,370.08 |
| Middle Lehigh Coal Company, spur track, 2.42 miles, New Boston Junction to Middle Lehigh Colliery, Pa. | ...... |
| Lehigh and Wilkes-Barre Coal Company, tracks, 1 mile of main line, branch from Franklin Junction to Franklin, Pa. | ...... |
| The Delaware and Hudson Company, tracks, 1.67 miles of main line, Avoca to Moosic, Pa. | ...... |
| Mountain Spring Water Ice Company, tracks, 0.62 mile of main line west of White Haven, Pa. | ...... |
| Susquehanna and New York Railroad Company, tracks, 4 miles of main line, Towanda Junction to Monroeton, Pa.; stipulated rental $5,317.44 per annum. | 2,109.70 |
| Bay Shore Connecting Railroad Company, entire property, including 1.103 miles of main line and 1.647 miles of yard tracks and sidings, located at Newark, N. J.; jointly and equally used by the Lehigh Valley and The Central Railroad Company of New Jersey; the joint users pay, in equal parts, the expenses of operating the property. | ...... |
| The Buffalo Creek Railroad Company. This company's property consists of a switching and terminal road located at Buffalo, N. Y., including 5.781 miles of main line and 28.040 miles of other tracks. The capital stock is jointly and equally owned by the Lehigh Valley and the Erie Railroad Company. The property is operated for the benefit of said companies by an unincorporated operating organization known as Lessees, Buffalo Creek Railroad. For the purposes of this report, the Lehigh Valley is deemed to have trackage rights over the entire property. Stipulated annual rental, 7 per cent dividends on the outstanding capital stock, interest on funded debt, and $500 per annum for organization expenses. | ...... |
Lessor Companies
[edit]- Loyalsock Railroad
- Pennsylvania and New York
- Easton and Northern
- Schuylkill and Lehigh Valley
- Lehigh Valley Rail Way
- Hayts Corners, Ovid and Willard
- Lehigh and New York
- Lehigh Valley of New Jersey
- Montrose Railroad
- Delaware, Susquehanna and Schuylkill
- Lehigh-Buffalo Terminal
- Lehigh Valley Transportation Company
Predecessor Companies
[edit]President and Directors of the Beaver Meadow Railroad and Coal Company
[edit]The President and Directors of the Beaver Meadow Railroad and Coal Company was incorporated by special act of Pennsylvania approved April 7, 1830. The company’s franchises, rights, and property were acquired by the Lehigh Valley on July 8, 1864. On date of demise the company owned about 21.67 miles of railroad located in Pennsylvania. The main line, about 20.58 miles in length, extended from Mauch Chunk to Leviston, Pa., with a branch about 1.09 miles in length. Of the total mileage owned, about 19.97 miles were constructed between 1833 and 1836, and about 1.70 miles were purchased in 1853 from the Hazleton Railroad Company. The accounting records of the company prior to January 5, 1853, have not been obtained. The information contained herein has been obtained from the accounting records subsequent to the above date, and other data referred to.
Penn Haven and White Haven Railroad
[edit]The Penn Haven and White Haven Railroad Company was incorporated by special act of Pennsylvania approved May 4, 1857. Its franchises, rights, and property were acquired by the Lehigh Valley on August 5, 1864. At date of its demise the company owned about 14.83 miles of railroad extending from Penn Haven to White Haven, Pa. The property was constructed by sundry contractors under supervision of the Lehigh Valley, which provided the necessary funds. The property of the company was operated by the Lehigh Valley, which included the results of operation in its own accounts.
The Lehigh and Mahanoy Railroad
[edit]Introductory
The Lehigh and Mahanoy Railroad Company was incorporated on December 8, 1862, under the laws of Pennsylvania. Its franchises, rights, and property were acquired by the Lehigh Valley on June 20, 1866. At date of its demise, the company owned about 46.91 miles of railroad located in Pennsylvania. The main line, about 39 miles in length, extended from Black Creek Junction to Mount Carmel, with two branches aggregating about 7 miles.
Development of Fixed Physical Property
Of the 46.91 miles of road owned by The Lehigh and Mahanoy Railroad Company on date of its demise, it had acquired 16.66 miles by purchase from the Quakake Railroad Company and 30.25 miles by construction. Details with respect to the construction of the property are given in the chapter on development of fixed physical property of the Lehigh Valley. Relative to the branch from Laurel Junction to New Boston Junction, included in the constructed mileage above, the Lehigh Valley's corporate history states: "Apparently a discrepancy exists in records as a deed indicates that part of line was purchased in 1887."
Quakake Railroad
[edit]Quakake Railroad Company was incorporated by special act of Pennsylvania approved April 25, 1857. Its property was sold under foreclosure proceedings on June 11, 1862, and acquired by The Lehigh and Mahanoy Railroad Company on December 8, 1862. At date of its demise the company owned about 16.66 miles of railroad, extending from Black Creek Junction to Pine Junction, Pa. Of this mileage about 12 miles was acquired in 1857 from the Catawissa, Williamsport and Erie Railroad Company, which constructed the 12 miles of road in question as a part of its property. The remainder of about 5 miles of road was constructed by the Quakake Railroad Company in 1858.
Hazleton Railroad, Formerly Named Hazleton Coal Company
[edit]Introductory
The Hazleton Railroad Company was incorporated by special act of Pennsylvania approved March 18, 1836, as the Hazleton Coal Company. Its name was changed to that first mentioned by special act of Pennsylvania, approved March 9, 1865. Effective May 25, 1868, the franchises, rights, and property of the company were acquired by the Lehigh Valley.
Development of Fixed Physical Property
The company acquired by construction about 15.23 miles of railroad, including 0.23 mile of branch line, extending from Penn Haven Junction to Hazleton, Pa. The main line was built in 1838 and the branch line in 1841. In 1853 the Hazleton Coal Company sold to the President and Directors of the Beaver Meadow Railroad and Coal Company about 1.70 miles of road between Penn Haven Junction and Hazle Creek Junction, and abandoned about 5 miles of road between Hazle Creek Junction and Penn Haven Junction. On the date of its demise the Hazleton owned about 8.53 miles of road, including the 0.23 mile of branch line, extending from Hazle Creek Junction to Hazleton, Pa.
Lehigh Luzerne Railroad; The Lehigh Luzerne Railroad; Jeddo and Carbon County Railroad
[edit]Lehigh Luzerne Railroad Company was incorporated by special act of Pennsylvania approved March 23, 1854, as the Jeddo and Carbon County Railroad Company. By special act approved February 12, 1856, the name was changed to The Lehigh and Luzerne Railroad Company, and by special act approved April 8, 1857, the name was again changed to the Lehigh Luzerne Railroad Company. On June 16, 1868, the company's franchises, rights, and property were acquired by the Lehigh Valley.
At date of its demise the company owned about 10.68 miles of road situated in Pennsylvania. The main line extended from Ashmore to Freeland, about 5.58 miles, with two branches aggregating 5.10 miles. The property was acquired by construction and opened for operation in 1861. The corporate history of the Lehigh Valley states that a branch about 2.5 miles long was also constructed and later lifted.