Wikipedia:WikiProject Trains/ICC valuations/Troy Union Railroad

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The Troy Union Railroad

The railroad of The Troy Union Railroad Company, herein called the carrier, consists of a passenger station, tracks, buildings, and other terminal facilities for handling traffic in the city of Troy, N. Y. The entire property is used jointly by the New York Central, the Delaware and Hudson, and the Boston and Maine. The carrier owns 2.046 miles of first main track and 2.015 miles of second and other main tracks, a total of 4.061 miles of all main tracks. It also owns yard and side tracks totaling 1.569 miles. Its road thus embraces 5.630 miles of all tracks owned. In Appendix 1 will be found a general description of the property.

Corporate history

The carrier was incorporated on June 30, 1851, under a special act of New York which authorized the city of Troy and certain railroad companies to construct a railroad through the whole or some portion of the city of Troy. Its organization was perfected on July 21, 1851, on which date articles of association were filed with the secretary of the State of New York. The principal office of the carrier is located at Troy. The detailed facts as to the development of the fixed physical property are given in Appendix 2.

Development of Fixed Physical Property

The property owned by the carrier was acquired by construction, no details of which are obtainable. The original station and road was installed during the years 1853 and 1854, and the road was opened for operation on February 22, 1854. During the year 1903, the station building was replaced, partly by contract and partly by the New York Central forces, with a larger structure, and in 1913, the signals and interlockers were modernized.

Leased Railway Property

The entire property of the carrier is used jointly by the New York Central, the Delaware and Hudson, and the Boston and Maine, who own all of the capital stock. All revenue received, including the profit from the operation of its restaurant and other auxiliary operations, is retained by the carrier and used in the payment of dividends, interest on outstanding notes, and for general purposes of the carrier. The actual operating expenses are assessed against the proprietor companies on the basis of their respective stock holdings.