Wikipedia:WikiProject Trains/ICC valuations/Susquehanna Connecting Railroad
Interstate Commerce Commission, Valuation Reports, Volume 33
Susquehanna Connecting Railroad
[edit]Location and General Description of Property
[edit]The railroad of the Susquehanna Connecting Railroad Company, herein called the Susquehanna Connecting Railroad, which is leased to and operated by the Wilkes-Barre and Eastern, is a single-track line extending from Suscon northerly to Minooka, with a branch to Jermyn, aggregating 7.562 miles of road.
Introductory
[edit]The Susquehanna Connecting Railroad is a corporation of the State of Pennsylvania, having its principal office at Dunmore, Pa. No accounting records of the company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated hereinafter were obtained from a balance sheet statement as of date of valuation, certified to by the comptroller of the company, filed with this commission, and from the records of the New York, Susquehanna and Western Railroad Company.
The company is controlled by the New York, Susquehanna and Western through ownership of the entire outstanding capital stock. The records reviewed do not indicate that this company controls any common-carrier corporation.
The property of the Susquehanna Connecting Railroad was operated by the Wilkes-Barre and Eastern from the date it was placed in operation, April 1, 1897, to December 31, 1917. The common-carrier property of the company was taken over for operation by the United States Railroad Administration on January 1, 1918, as a part of the system of the Wilkes-Barre and Eastern and it is so operated on date of valuation.
Corporate History
[edit]The Susquehanna Connecting Railroad was incorporated December 18, 1896, for a period of 999 years, under the general laws of Pennsylvania, for the purpose of constructing and operating a railroad from a point on the railroad of the Wilkes-Barre and Eastern at or near Paddy's Land in Luzerne County, Pa., to a point on the Priceville and Winton Railroad in Lackawanna County, Pa. The date of its organization was December 22, 1896.
Development of Fixed Physical Property
[edit]The owned mileage of the Susquehanna Connecting Railroad, 7.562 miles, was all acquired by construction and was placed in operation April 1, 1897. The records reviewed do not indicate whether the construction work performed for Susquehanna Connecting Railroad was done under contract or by company forces. There is a difference of 0.005 mile between the mileage, 7.567 miles, recorded by this company and the mileage, 7.562 miles, inventoried as of date of valuation.
Leased Railway Property
[edit]The property of the Susquehanna Connecting Railroad, together with the property of the New York, Susquehanna and Western Railroad Company that it leases, was solely operated by the Wilkes-Barre and Eastern from April 1, 1897, and February 26, 1897, respectively, to December 31, 1917, under lease agreement. From January 1, 1918, to date of valuation the property of the company, together with that of its leased lines devoted to common-carrier purposes, has been operated by the United States Railroad Administration as a part of the system of the Wilkes-Barre and Eastern. Details with respect to the operations of this property are given in the chapter on leased railway property in the report on the Wilkes-Barre and Eastern.