Wikipedia:WikiProject Trains/ICC valuations/Northern Railroad of New Jersey
Interstate Commerce Commission, Valuation Reports, Volume 33
Northern Railroad Company of New Jersey
[edit]Location and General Description of Property
[edit]The railroad of the Northern Railroad Company of New Jersey extends from Bergen Junction, N. J., to Sparkill, N. Y., 20.984 miles, of which 16.738 miles is double-tracked. This property forms a part of the branch line between Jersey City, N. J., to Nyack, N. Y.
Introductory
[edit]The Northern Railroad Company of New Jersey is a corporation of the State of New Jersey, having its principal office at Englewood, N. J. Owing to the fragmentary nature of the accounting records for the period prior to January 1, 1874, only partial information can be given from the accounts regarding the results of operations.
The records reviewed do not indicate that the Northern Railroad Company of New Jersey is controlled by any individual or corporation. The company controls the Nyack and Southern Railroad Company through ownership of a majority of its capital stock. It has held the property of that company under a lease since January 1, 1870.
The property of the Northern Railroad Company of New Jersey, including its leased lines, has been operated by its own organization and by various companies and their receivers from the date of completion to December 31, 1917, as follows:
- Own organization. Oct. 1, 1859, to Nov., 1868.
- Erie Railway Company and its receivers. Nov., 1868, to May 31, 1878.
- The New York, Lake Erie and Western Railroad Company and its receivers. June 1, 1878, to Nov. 30, 1895.
- The Erie. Dec. 1, 1895, to Dec. 31, 1917.
On January 1, 1918, the common-carrier property owned and leased by this company was taken over for operation by the United States Railroad Administration, and it is so operated on the date of valuation.
Corporate History
[edit]The Northern Railroad Company of New Jersey was incorporated February 9, 1854, under a special act of the State of New Jersey, for the purpose of constructing and operating a railroad from Jersey City, N. J., to the New York-New Jersey State line. The date of organization of the company was March 31, 1857. Through a special act of the State of New Jersey passed March 5, 1858, and a special act of the State of New York passed April 15, 1858, the company was authorized to extend its railroad to Piermont, N. Y.
Development of Fixed Physical Property
[edit]The owned mileage of the Northern Railroad Company of New Jersey, extending from Bergen Junction, N. J., to Sparkill, N. Y., 20.984 miles, was constructed for the company by Seymour and Tower, contractors, during the period from 1858 to September 30, 1859. The records reviewed do not indicate that the contractors were affiliated with the company.
Leased Railway Property
[edit]The common-carrier property of the Northern Railroad Company of New Jersey is operated on date of valuation by the United States Railroad Administration as part of the system of the Erie. Details with respect to the operation of this property are given in the chapter on leased railway property in the report on the Erie.