Wikipedia:WikiProject Trains/ICC valuations/Lehigh Coal and Navigation Company

Extract from: United States Interstate Commerce Commission (1929). Decisions of the Interstate Commerce Commission of the United States. Interstate Commerce Commission Reports (Volume 149 ed.). L.K. Strouse, Interstate commerce. Front Cover
United States. Interstate Commerce Commission
L.K. Strouse, 1929 - Interstate commerce

LEHIGH COAL, AND NAVIGATION COMPANY (LEHIGH AND SUSQUEHANNA RAILROAD)
INTRODUCTORY

The Lehigh Coal and Navigation Company (LC&N or LC&N Co.) is a corporation of the State of Pennsylvania, having its principal office at Philadelphia, Pa.^[a] The Lehigh Coal and Navigation Company is engaged in mining and marketing anthracite coal in the Lehigh region of the Pennsylvania coal fields and is also the owner of a standard-gauge railroad extending from Phillipsburg, N. J., to Union Junction, Pa.^[b] This road is designated by it and commonly known as the Lehigh and Susquehanna Railroad.

The Lehigh Coal and Navigation Company is controlled by no single interest. The records do not indicate that the company controls any common-carrier corporation. It is, however, the intermediate lessee of the properties of the Tresckow Railroad and the Nesquehoning Valley Railroad. Its leasehold rights in these two companies, excepting a tunnel ^[c] owned by the Nesquehoning Valley Railroad, are assigned to the Central of New Jersey. The obtainable accounting records of the Lehigh Coal and Navigation Company date from May, 1821. The data therein pertaining to the Lehigh and Susquehanna date from the year 1837. The records were found to be incomplete and for that reason only partial information can be given from the accounts in connection with the finances, operation, investment in road and equipment, and original cost.

From the date the road was placed in operation the property designated as the Lehigh and Susquehanna Railroad was operated by the Lehigh Coal and Navigation Company as owner until March 31, 1871. From this date it was operated by the Central of New Jersey and its receivers and lessee until December 31, 1917, under lease agreement. On January 1, 1918, the common-carrier property was taken over for operation by the United States Railroad Administration (USRA), which operates it on date of valuation.

CORPORATE HISTORY

The Lehigh Coal and Navigation Company constructed the Lehigh and Susquehanna pursuant to the provisions of certain special acts of the General Assembly of Pennsylvania and a special act of the Legislature of New Jersey. The first act was approved March 13, 1837, and authorized the construction of a railroad to connect the North Branch division of the Pennsylvania Canal with the slack water navigation of the Lehigh Canal.^[d] By a special act approved March [sic], 1863, authority was granted to extend the road from White Haven to Mauch Chunk, Pa.; this act also extended to the Lehigh Coal and Navigation Company certain provisions of the general laws relating to construction, maintenance, use, and management of railroads.^[e] On March 16, 1864, an act was approved, supplementary to the one of March 4, 1863, to authorize the extension of the road from Mauch Chunk to the Delaware River and to bridge the river.^[f] By a special act of the Legislature of New Jersey, approved April 6, 1865, the Lehigh Coal and Navigation Company was granted the right to bridge the Delaware River at or near Easton, Pa., and extend its road to the east bank [of the Delaware River, so Phillipsburg, New Jersey and a junction with the CNJ, the Central Railroad of New Jersey].^[g] The Lehigh Coal and Navigation Company also succeeded to the corporate use of two other corporations, namely, the Lehigh and Delaware Water Gap Railroad Company and the Nanticoke Railroad Company.^[h]

The following chart shows the corporations, the respective dates of incorporation, and for each predecessor the date of succession, the immediately [...]

No.	Name	Incorporation	Succession
1	Lehigh Coal and Navigation Company.	Special acts Mar. 13, 1837, Mar. 4, 1863, Mar. 16, 1864, Apr. 8, 1865.
2	Lehigh and Delaware Gap Railroad Company.	General laws of Pennsylvania May 4, 1857.	Merged with No. 1, July 10, 1867.
3	Nanticoke Railroad Company.	Special act of Pennsylvania Feb. 15, 1851, and special act Mar. 15, 1860.	Originally incorporated as Wilkes-Barre and Scranton Railroad Company. Name changed Mar. 15, 1860, to that borne on date of demise. Merged with 1, July 9, 1867.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

In the year 1837, the Lehigh Coal and Navigation Company began construction of the road and completed what was known as the "upper portion" in the year 1848. Construction work was suspended until 1863, and in 1868, the main line, including the road originally projected by the Lehigh and Delaware Water Gap and the Nanticoke Railroad, had been put in operation. The several sections of the main line and the branch roads were completed and placed in operation as indicated below.

Main line

Ashley to South Wilkes-Barre, Pa.^[i], 1843 2.000

White Haven to Soloman's Gap, Pa., 1843 15.000

Mauch Chunk to White Haven, Pa., 1866 24.000

Soloman's Gap to Ashley, Pa., 1866 12.000

South Wilkes-Barre to Wilkes-Barre, Pa., 1866 1.400

Wilkes-Barre to Union Junction, Pa., 1867 5.000

Mauch Chunk to ~~Phillipsburg, Pa.~~ Phillipsburg, New Jersey, 1868 46.000

Total 105.400

Branch roads

Ashley Planes branch, 1843 2.700

Lee Mine branch, 1862 1.970

Nanticoke branch:

Gardners Switch to Wanamie, Pa., 1862 13.000

Wanamie to Lee, Pa., 1885 3.980

Canal branch:

Miners Mill to Enterprise breaker, 1862 3.850

Enterprise Breaker to Plains Junction, 1896 1.250

Upper Lehigh branch, 1867 9.350

Everhart branch, 1867 3.030

North Pennsylvania connection, 1867 .330

Coplay branch, 1870 .640

Carbon branch, 1873 .500

Sandy Run branch, 1875 2.570

Drifton branch, 1876 10.500

Allen Cement branch, 1888 .770

Standard Cement branch, 1892 .560

Buttonwood branch, 1894 2.190

Total 57.090

Less portion of Drifton branch abandoned in 1901 8.150

Net total, branch roads 48.940

Grand total 154.340

Difference between recorded mileage and mileage inventoried 1.567

Mileage inventoried as of date of valuation 155.907

The mileage includes the projected and partly constructed road of the Lehigh and Delaware Water Gap, which the Lehigh Coal and Navigation Company acquired under the terms of an agreement dated July 10, 1867, and also the projected and partly constructed road of the Nanticoke Railroad, which the Lehigh Coal and Navigation Company acquired under the terms of an agreement dated July 9, 1867. The property thus acquired was merged and consolidated with the property designated Lehigh and Susquehanna Railroad.

HISTORY OF CORPORATE FINANCING

Notes

^ Interesting, should have been Lansford or Mauch Chunk. Perhaps the address of the companies lawyers.
^ Googling this 'Union Junction, Pa.' name draws nil results. Conjecture this was commonly used name in railroading cultures for the trackage around and before the Railroad St., Duryea descent and the crossing junctions in Moosic and Avoca area leading to Scranton and to Wilkes-Barre. Since the LH&S backtrack has to go past Coxton Road yard from Railroad St. in Duryea, this junction was either when and where it crossed these other railways, or 'most likely of all' the merge with the LVRR as both companies trackages wound down the traverses from Mountain Top, PA; The wye outside that Duryea yard (which is more likely a part of the LVRR, or one near the left bank Susquehanna docks at Pittston curling back to Ashley, PA are both far less likely. The single counterpoint argument is Pittston-Ashley railroad connection was part of the 1837 package, so finished in the 1840s... likely ahead of many other rail companies building sufficient strength and capital to enable them entering the northern valley.
^ Has to be the ~1 mile Hauto Tunnel trackage through Nesquehoning Ridge from the Dam at Nesquehoning Creek to downtown Lansford, PA.
^ The 1837 enabling act modification of the Main Line of Public Works legislative package.
^ This special bill was also the act prohibiting the LC&N Co. from rebuilding the Upper Lehigh Canal, in reaction to the 100+ deaths when dams failed during the winter of 1862. (Recheck when)
^ Action to increase throughput carried from Wyoming Valley and the Ashley Planes, IIRC, the LH&S 'backtrack' construction dates from about this time, so would be the extension to that mysterious 'Union Junction' reference.
^ Obviously part of the board actions deciding to duplicate the canal path entirely by railroad after the 1862 flood damage.
^ Reading between the lines in the milage details of trackage right-of-ways, the LH&S acquired the two after they'd had legislative charters to build along the back track. NOW, the only road bed used in place of the Ashley Planes and the LVRR track's right-of-way farther upslope. CONRAIL abandoned the LVRR to bike trails.
^ Pittston trackage, date must be opening of operations

[1] Interesting, should have been Lansford or Mauch Chunk. Perhaps the address of the companies lawyers.

[2] Googling this 'Union Junction, Pa.' name draws nil results. Conjecture this was commonly used name in railroading cultures for the trackage around and before the Railroad St., Duryea descent and the crossing junctions in Moosic and Avoca area leading to Scranton and to Wilkes-Barre. Since the LH&S backtrack has to go past Coxton Road yard from Railroad St. in Duryea, this junction was either when and where it crossed these other railways, or 'most likely of all' the merge with the LVRR as both companies trackages wound down the traverses from Mountain Top, PA; The wye outside that Duryea yard (which is more likely a part of the LVRR, or one near the left bank Susquehanna docks at Pittston curling back to Ashley, PA are both far less likely. The single counterpoint argument is Pittston-Ashley railroad connection was part of the 1837 package, so finished in the 1840s... likely ahead of many other rail companies building sufficient strength and capital to enable them entering the northern valley.

[3] Has to be the ~1 mile Hauto Tunnel trackage through Nesquehoning Ridge from the Dam at Nesquehoning Creek to downtown Lansford, PA.

[4] The 1837 enabling act modification of the Main Line of Public Works legislative package.

[5] This special bill was also the act prohibiting the LC&N Co. from rebuilding the Upper Lehigh Canal, in reaction to the 100+ deaths when dams failed during the winter of 1862. (Recheck when)

[6] Action to increase throughput carried from Wyoming Valley and the Ashley Planes, IIRC, the LH&S 'backtrack' construction dates from about this time, so would be the extension to that mysterious 'Union Junction' reference.

[7] Obviously part of the board actions deciding to duplicate the canal path entirely by railroad after the 1862 flood damage.

[8] Reading between the lines in the milage details of trackage right-of-ways, the LH&S acquired the two after they'd had legislative charters to build along the back track. NOW, the only road bed used in place of the Ashley Planes and the LVRR track's right-of-way farther upslope. CONRAIL abandoned the LVRR to bike trails.

[9] Pittston trackage, date must be opening of operations

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