Wikipedia:WikiProject Trains/ICC valuations/Potato Creek Railroad

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The railroad of the Potato Creek Railroad Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in northern Pennsylvania. The main line extends from Keating Summit to Betula, a distance of 15.372 miles. The carrier also owns 46.148 miles of yard tracks and sidings. Its road thus embraces 61.520 miles of all tracks owned.

CORPORATE HISTORY

The carrier was incorporated January 10, 1907, under the general laws of the State of Pennsylvania, for the purpose of constructing and operating a railroad from Keating Summit, via Liberty, to a point near Clermont. Pa., a distance of about 28 miles. The date of organization of the carrier was January 11, 1907.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the carrier, extending from Keating Summit to Betula, Pa., a distance of 15.372 miles, was all acquired by construction. The portion of the road between Keating Summit and Norwich, Pa., was opened for operation on August 1, 1910, and the remaining portion was opened on January 1, 1912. The construction work, including the construction of about 34 miles of yard tracks and sidings and the completion of about 12 miles of spurs and sidings that were purchased, was performed partly by the company's forces and partly by various independent contractors. The carrier acquired by purchase from the Norwich Lumber Company in 1913 approximately 19 miles of tramroads, all of which were subsequently sold or abandoned. It also acquired by purchase from the Norwich Lumber Company about 12 miles of spur and side tracks that were in process of construction under contract. To acquire these partially constructed tracks the carrier assumed the contract and reimbursed the Norwich Lumber Company for expenditures made by it for the partial construction thereof, amounting to $79,349.41.

HISTORY OF CORPORATE FINANCING