Wikipedia:WikiProject Trains/ICC valuations/Morris and Essex Extension Railroad

Interstate Commerce Commission, Valuation Reports, Volume 39

The Morris and Essex Extension Railroad

Location and General Description of Property

The railroad of The Morris and Essex Extension Railroad Company, hereinafter called the Morris and Essex Extension, consists of 1.878 miles of single-track line located within the city of Paterson, N. J.

Introductory

The Morris and Essex Extension is a corporation of the State of New Jersey, having its principal office at New York, N. Y. The accounting records of this company do not include the results of its corporate operations. The records reviewed do not indicate that this company is controlled by any individual or corporation, nor, on the other hand, that it controls any carrier corporation. The property of the Morris and Essex Extension was operated by the Lackawanna from December, 1889, the date it was placed in operation, to December 31, 1917, and by the United States Railroad Administration from that date to date of valuation as a part of the operating unit of the Lackawanna.

Corporate History

The Morris and Essex Extension was incorporated May 6, 1889, under the general laws of the State of New Jersey, and was organized on the same date.

Development of Fixed Physical Property

The mileage owned by the Morris and Essex Extension, 1.878 miles, located in the city of Paterson, N. J., was acquired by construction which was begun on May 6, 1889, and completed in December, 1889. The construction work was performed by company forces.

Leased Railway Property

The entire property of the Morris and Essex Extension has been leased to the Morris and Essex from May 6, 1889, for the period of its corporate existence. The lease was acquired by the Lackawanna through its lease of the property of the Morris and Essex. The terms of the lease and the rental accrued for the year ended December 31, 1917, are given in the chapter on leased railway property of the report on the Lackawanna.