Wikipedia:WikiProject Trains/ICC valuations/Pittsburgh Junction Railroad
Interstate Commerce Commission, Valuation Reports, Volume 42
Pittsburgh Junction Railroad
[edit]Location and General Description of Property
[edit]The railroad of the Pittsburgh Junction Railroad Company, hereinafter called the Pittsburgh Junction Railroad, is located within the State of Pennsylvania and extends from Laughlin Junction to Millvale, a distance of 4.395 miles, with a branch line in the city of Pittsburgh projecting from Forty-third to Ninth Street. This property, which likewise forms a part of the principal route to Chicago, includes an important tunnel through Schenley Park and a large bridge over the Allegheny River. It aggregates 7.259 miles of road with 4.524 miles of second, 0.933 mile of third, and 0.879 mile of fourth main tracks.
Introductory
[edit]The Pittsburgh Junction Railroad is a corporation of Pennsylvania, having its principal office at Philadelphia, Pa. It is controlled by the Baltimore and Ohio through ownership of capital stock. The records do not indicate that this company controls any common-carrier corporation. The property of the Pittsburgh Junction Railroad was operated by its own organization from September 1, 1884, the date of completion of the main line, to June 30, 1901, by the Baltimore and Ohio from the latter date to December 31, 1917. Since January 1, 1918, It has been operated by the United States Railroad Administration as part of the Baltimore and Ohio system.
Corporate History
[edit]The Pittsburgh Junction Railroad was incorporated December 29, 1881, under the general laws of Pennsylvania, for the purpose of consolidating the corporate rights and franchises of the Pittsburgh Junction Railroad Company (of August 1881) and the Pittsburgh Local Railroad Company.
The Pittsburgh Local Railroad Company was incorporated September 27, 1880, and the Pittsburgh Junction Railroad Company (of August 1881) on August 6, 1881, both under general laws of Pennsylvania and were consolidated December 29, 1881, to form the present company.
Development of Fixed Physical Property
[edit]The owned road of the Pittsburgh Junction Railroad, 7.259 miles in and around Pittsburgh, Pa., was acquired by construction between 1883 and 1889. Neither of the predecessors constructed any common-carrier property. Further details are given in accounting report.
Leased Railway Property
[edit]Under agreement dated October 1, 1887, the Pittsburgh Junction Railroad leased for a term of 20 years the property of the Pittsburgh Junction Terminal Company and guaranteed the latter sufficient income from the lease to pay expenses, taxes, and interest. On October 1, 1902, the Pittsburgh Junction assumed ownership of the property and the lease agreement lapsed by mutual consent and thereafter no rentals were accrued.
The entire property is leased to the Baltimore and Ohio as stated in the report on that company.
Predecessor Companies
[edit]Pittsburgh Junction Railroad (of August 1881); The Pittsburgh Local Railroad
[edit]The above-named corporations were incorporated under the general laws of Pennsylvania on August 6, 1881, and September 27, 1880, respectively. The accounting records of these companies were not obtained. The information given herein has been taken from the records of the Baltimore and Ohio and from documents on file. The records reviewed do not indicate whether either of the companies was controlled on December 29, 1881, date of consolidation, by any individual or corporation, nor whether either of them then controlled any common-carrier corporation. The Pittsburgh Junction Railroad Company (of August 1881) adopted the location for a standard-gage railroad from Laughlin Junction to Willow Grove and a branch line along the Allegheny River, all in Pennsylvania. However, no construction work was performed. The Pittsburgh Local Railroad Company proposed to construct a standard-gage railroad of about 6 miles, all in the city of Pittsburgh, Pa., but did not construct any road or other common-carrier property.