Wikipedia:WikiProject Trains/ICC valuations/New York, Susquehanna and Western Railroad
Interstate Commerce Commission, Valuation Reports, Volume 33
New York, Susquehanna and Western Railroad[edit]
Location and General Description of Property[edit]
The railroad operated by the New York, Susquehanna and Western Railroad Company, herein called the New York, Susquehanna and Western, is a standard-gage steam railroad, located in New Jersey and Pennsylvania. The railroad is single track, with the exception of 17.823 miles in New Jersey, which is double tracked. The New York, Susquehanna and Western is a part of the Erie Railroad Company system, its line forming a portion of a through route from New York, N. Y., to Wilkes-Barre, Pa.
The owned and used mileage consists of a main line extending northwesterly from Jersey City, N. J., to Stroudsburg, Pa., 99.766 miles, and important branch lines extending from Beaver Lake, N. J., to the New Jersey-New York State line; Little Ferry Junction to Undercliff, N. J.; and Delaware Junction to Delaware, N. J. The mileage used under lease consists of branch lines in the vicinity of Paterson, N. J. The principal cities served by this road are Jersey City, Undercliff, Passaic, Paterson, and Hackensack, N. J., and Stroudsburg, Pa.
The New York, Susquehanna and Western wholly owns and uses 125.808 miles of road, and in addition wholly owns but does not use 10.239 miles of road consisting of detached lines near Scranton, Pa., which are leased to and operated by The Wilkes-Barre and Eastern Railroad Company. It wholly uses but does not own 7.986 miles of road owned by other carriers, of which 1.576 miles between Edgewater and Undercliff, N. J., is a portion of the property of the Erie Terminals Railroad Company. The remaining leased mileage is owned by four lessors whose entire common-carrier properties it leases and operates, as described in the paragraphs below.
The New York, Susquehanna and Western wholly owns and uses 239.518 miles of all tracks, wholly owns but does not use 12.412 miles of all tracks, and wholly uses but does not own 15.280 miles of all tracks. These tracks are classified in the trackage table in Appendix 1. The company also jointly owns and uses with another carrier 0.059 undivided mile of all tracks.
Introductory[edit]
The New York, Susquehanna and Western is a corporation of the States of New Jersey and Pennsylvania, having its principal office at Jersey City, N. J. Although the New York, Susquehanna and Western acquired title to its property on April 25, 1893, it did not commence recording the results of the operations of its property in its books until May 1, 1893. The accounting data in this report, therefore, cover the period from May 1, 1893.
The New York, Susquehanna and Western is controlled by the Erie Railroad Company through ownership of a majority of its outstanding capital stock. The New York, Susquehanna and Western controls, through ownership of their entire outstanding capital stock, the following named companies, whose several common-carrier properties were operated by the New York, Susquehanna and Western when its property was taken over for operation by the United States Railroad Administration, as stated hereinafter: Hackensack and Lodi, Lodi Branch Railroad, Macopin Railroad, and Passaic and New York.
It controls, further, through ownership of their entire outstanding capital stock, The Wilkes-Barre and Eastern Railroad Company and the Susquehanna Connecting Railroad Company, whose properties are separately operated and for which companies a separate report has been made.
It controls jointly with the Erie Railroad Company, through ownership of approximately 12 per cent of its capital stock, the Erie Terminals Railroad Company, whose entire property is leased to this company and the Erie Railroad Company and for which company a separate report has been made.
The property of the New York, Susquehanna and Western was operated by its own organization from May 1, 1893, to December 31, 1917, except several branches that have been operated by the Wilkes-Barre and Eastern under lease from the Susquehanna Connecting Railroad Company, from February 26, 1897, to December 31, 1917. On January 1, 1918, the common-carrier property of the company was taken over for operation by the United States Railroad Administration, which operates it on date of valuation.
Corporate History[edit]
The New York, Susquehanna and Western was incorporated under the general laws of New Jersey and Pennsylvania, through filing with the secretaries of State, of New Jersey on April 25, 1893, and of Pennsylvania on April 26, 1893, an agreement dated April 5, 1893, for the purpose of consolidating and merging the property, rights, and franchises of the New York, Susquehanna and Western Railroad Company (first corporation) and The Hudson River Railroad and Terminal Company. The date of organization was April 29, 1893.
Pursuant to the above purpose, the New York, Susquehanna and Western acquired at its organization the property, rights, and franchises of the two railroad corporations named. The New York, Susquehanna and Western, itself, and those corporations, together with their predecessors, total 14 different corporations, and comprise the line of corporate succession culminating in the New York, Susquehanna and Western as at present constituted.
The following chart shows the names of the corporations, the respective dates of incorporation, and for each predecessor the date of succession, the immediately succeeding corporation, and the manner of succession. Reference to each of these corporations is made in the last column by the respective number shown in the first column.
| No. | Name | Incorporation | Succession |
|---|---|---|---|
| 1. | New York, Susquehanna and Western Railroad Company. | Under general laws of New Jersey and Pennsylvania, through articles of consolidation and merger; dated Apr. 5, 1893, filed in New Jersey Apr. 25, 1893; Pennsylvania Apr. 26, 1893. | |
| 2. | The Hudson River Railroad and Terminal Company. | Under general laws of New Jersey, Mar. 31, 1892. | Consolidated and merged, Apr. 25, 1893, with 3 to form 1. |
| 3. | New York, Susquehanna and Western Railroad Company. | Under general laws of New Jersey and Pennsylvania, through articles of consolidation and merger; dated May 26, 1881; filed in New Jersey June 17, 1881; Pennsylvania June 22, 1881. | Consolidated and merged, Apr. 25, 1893, with 2 to form 1. |
| 4. | Midland Railroad Company of New Jersey. | Under general laws of New Jersey, Mar. 25, 1880. | Consolidated June 17, 1881, with 9, 10, 11, 12, and 13 to form 3. |
| 5. | New Jersey Midland Railway Company. | Under special act of New Jersey, Mar. 17, 1870, and through articles of consolidation and merger; dated Apr. 26, 1870; filed July 13, 1870. | Sold at foreclosure Feb. 21, 1880, after receivership begun Apr. 5, 1875, to interests which conveyed property to 4, Mar. 25, 1880. |
| 6. | New Jersey, Hudson and Delaware Railroad Company. | Under special act of New Jersey, Mar. 8, 1832. | Consolidated and merged Apr. 26, 1870, with 7 and 8 to form 5. |
| 7. | Sussex Valley Railroad Company. | Under special act of New Jersey, Mar. 14, 1867. | Consolidated and merged Apr. 26, 1870, with 6 and 8 to form 5. |
| 8. | The New Jersey Western Railroad Company. | Under special act of New Jersey, Mar. 31, 1867. | Consolidated and merged Apr. 26, 1870, with 6 and 7 to form 5. |
| 9. | The Water Gap Railroad Company. | Under general laws of Pennsylvania, Dec. 21, 1880. | Consolidated and merged June 17, 1881, with 4, 10, 11, 12, and 13 to form 3. |
| 10. | The North Jersey Railroad Company. | Under general laws of New Jersey, Mar. 17, 1881. | Consolidated and merged June 17, 1881, with 4, 9, 11, 12, and 13 to form 3. |
| 11. | The Paterson Extension Railroad Company. | Under general laws of New Jersey, Apr. 18, 1881. | Consolidated and merged June 17, 1881, with 4, 9, 10, 12, and 13 to form 3. |
| 12. | The Midland Connecting Railway Company. | Under general laws of New Jersey, May 7, 1881. | Consolidated and merged June 17, 1881, with 4, 9, 10, 11, and 13 to form 3. |
| 13. | The Pennsylvania Midland Railway Company. | Under general laws of Pennsylvania, May 24, 1881. | Consolidated and merged June 17, 1881, with 4, 9, 10, 11, and 12 to form 3. |
| 14. | The Blairstown Railway Company. | Under general laws of New Jersey, July 18, 1876. | Consolidated and merged, Jan. 24, 1883, into 3. |
Development of Fixed Physical Property[edit]
The owned mileage of the New York, Susquehanna and Western, amounting to 136.047 miles, was acquired by it as indicated hereunder.
| Mileage | |
|---|---|
| By construction. | 3.416 |
| By consolidation and merger. | 136.393 |
| 139.809 | |
| Less mileage abandoned or reclassified. | 5.499 |
| Total recorded mileage. | 134.310 |
| Difference between total recorded mileage and mileage inventoried as of date of valuation. | 1.737 |
| Mileage inventoried as of date of valuation. | 136.047 |
Of the 13 corporations that comprise the line of succession culminating in the New York, Susquehanna and Western as at present constituted, six corporations did not construct any road, or other common-carrier property. These companies were the Sussex Valley Railroad Company, The Water Gap Railroad Company, The North Jersey Railroad Company, The Paterson Extension Railroad Company, The Midland Connecting Railway Company, and The Pennsylvania Midland Railway Company.
The property constructed by the remaining corporations and by the New York, Susquehanna and Western itself, the years when the various portions of the line were constructed, and the manner in which the New York, Susquehanna and Western acquired the property are indicated in the following table, wherein, to facilitate comparison with the table showing the corporate succession, previously given, the same order of corporations is maintained.
| Mileage | ||
|---|---|---|
| Acquired by construction: | ||
| Constructed partly by The Hudson River Railroad and Terminal Company and completed by the New York, Susquehanna and Western, Little Ferry Junction to Undercliff, N. J., 1894. | 3.174 | |
| Connection to Undercliff Branch at Little Ferry Junction, N. J., 1894. | .038 | |
| Connection to Macopin Lake Branch at Macopin Lake Junction, N. J., 1896. | .135 | |
| Connection to Dolph Branch at Jessup, Pa., 1901. | .032 | |
| Rearrangement of tracks at Croxton, N. J., 1911. | .037 | |
| 3.416 | ||
| Acquired by consolidation and merger, Apr. 25, 1893: | ||
| From the New York, Susquehanna and Western Railroad Company (first corporation)— | ||
| Constructed by that company— | ||
| Beaver Lake to Blairstown, N. J., 1882. | 29.211 | |
| Columbia Junction, N. J., to Gravel Place, Stroudsburg, Pa., 1882. | 13.088 | |
| Jermyn No. 2 Branch at Taylor, Pa., 1882. | 1.467 | |
| Minton to Priceville, Pa., 1884. | 4.405 | |
| Various branch lines and connecting tracks, 1884 to 1893. | 5.698 | |
| Constructed partly by the Midland Railroad Company of New Jersey and completed by the above-named company, Broadway, Paterson, N. J., to Paterson City, N. J., 1881-1882. | 0.731 | |
| Constructed partly by the New Jersey, Hudson and Delaware Railroad Company and completed by the New Jersey Midland Railway Company, Beaver Lake, N. J., to the New Jersey-New York State line at Hanford, 1868 to 1872. | 19.774 | |
| Constructed partly by The New Jersey Western Railroad Company and completed by the New Jersey Midland Railway Company, Hawthorne, N. J., to a point 3 miles west of Bloomingdale, N. J., 1869 to 1871. | 17.000 | |
| Constructed by the New Jersey Midland Railway Company— | ||
| West End, Jersey City, N. J., to Hawthorne, N. J., 1871. | 19.482 | |
| From 3 miles west of Bloomingdale to Beaver Lake, N. J., 1872. | 14.436 | |
| Constructed by The Blairstown Railway Company, Blairstown to Delaware, N. J., 1881. | 11.101 | |
| 136.393 | ||
| Total. | 139.809 | |
| Less mileage abandoned or reclassified by the New York, Susquehanna and Western: | ||
| Tracks abandoned— | ||
| Rushbrook or Tinkle Pough spur, about 1894. | 0.642 | |
| Portion of Dolph (Sunnyside) Branch, Jessup, Pa., about 1900. | 0.445 | |
| Portion of Sibley Branch, Taylor, Pa., subsequently to 1901. | 0.175 | |
| Stroudsburg (Gravel Place), Pa., about 1908. | 2.203 | |
| Croxton, Jersey City, N. J., rearrangement of tracks, about 1911. | 0.526 | |
| Tracks reclassified from first main to third main— | ||
| Stroudsburg (Gravel Place), Pa., 1893. | 1.034 | |
| Croxton, Jersey City, N. J., 1911. | 0.474 | |
| 5.499 | ||
| Total recorded mileage. | 134.310 |
Leased Railway Property[edit]
The property of the New York, Susquehanna and Western, together with the property of others that it leases, devoted to common-carrier purposes, was taken over for operation by the United States Railroad Administration on January 1, 1918, and is so operated on date of valuation. The arrangements of the New York, Susquehanna and Western with other carriers, in effect December 31, 1917, covering the use of joint facilities, with one exception noted hereinafter, have been continued by the United States Railroad Administration during the period January 1, 1918, to date of valuation. The description of the property, the period and terms of use, and the rentals accrued and charged or credited to income for the year ending December 31, 1917, are as follows:
| Rentals | |
|---|---|
| Solely owned, but jointly used, used with— | |
| Lehigh and New England Railroad Company— | |
| Tracks, 78.06 miles, Hainesburg Junction to Little Ferry, N. J., for the transportation of coal; for indefinite period from July 1, 1910, stipulated payment of 25 cents per gross ton for all coal moved between the points named. After Dec. 31, 1917, the coal tonnage of the Lehigh and New England Railroad Company moving between Hainesburg Junction and Little Ferry, N. J., has been handled by the trains of the New York, Susquehanna and Western. The rental accrued for the year ended Dec. 31, 1917, is included with the rental accrued for the use of tracks between Hainesburg Junction and Swartswood Junction, N. J., as detailed below, and is not separable. | ...... |
| Tracks, 18.5 miles, Hainesburg Junction to Swartswood Junction, N. J., for the transportation of through freight; for indefinite period from Mar. 16, 1912; annual rental 2.066 mills per ton-mile for each ton of freight transported, also all taxes and assessments levied on said freight or its revenues. | $81,897.01 |
| The rental stated above covers both joint-facility arrangements with the Lehigh and New England Railroad Company noted above. | |
| Erie Railroad Company— | |
| Tracks, 9.21 miles, Granton Junction to Passaic Junction, N. J. (freight traffic only); no agreement has been executed and the company receives no rental for the use of this facility. | ...... |
| Tracks, 4.48 miles, Granton Junction to West End Junction, N. J., paralleling the tracks of the Northern Railroad Company of New Jersey (Erie Railroad Company, operating company); the tracks of both companies are operated as a double track road, each company bearing the expense of maintenance of its own tracks. No rentals have been accrued for the use of this facility. | ...... |
| Solely owned, but not used, leased to— | |
| Susquehanna Connecting Railroad Company and subleased to The Wilkes-Barre and Eastern Railroad Company— | |
| Tracks, 10.239 miles, the Jermyn No. 2, Winton, Johnson, Dolph (or Sunnyside), Spencer, Murray, and Sibley branches in Lackawanna County, Pa.; term 999 years from Feb. 26, 1897, stipulated payment of $500,000 par value of capital stock of the Susquehanna Connecting Railroad. No rental has been accrued for the use of this property. | ...... |
| Solely used, but not owned, leased from— | |
| Lodi Branch Railroad— | |
| Entire property; term 99 years from Apr. 14, 1883; stipulated payment of $600 per annum, also all taxes and assessments. No rental has been accrued for the use of this property. | ...... |
| Passaic and New York— | |
| Entire property; term 999 years from Dec. 1, 1885; annual rental equal to interest on first-mortgage bonds of lessor; also all taxes and maintenance. | 3,500.00 |
| Hackensack and Lodi— | |
| Entire property; for indefinite period from Oct. 1, 1896; stipulated payment equal to 20 cents per ton on all freight handled, to be deposited with a trustee for the redemption of first-mortgage bonds of the lessor. All of the bonds have been redeemed and no rental has been accrued for the year ended Dec. 31, 1917. | ...... |
| Macopin Railroad Company— | |
| Entire property; term 100 years from Dec. 1, 1896; stipulated payment the principal and interest on $44,000 par value of first-mortgage bonds of the lessor, plus an amount for maintenance of investment organization. All of the bonds of the lessor have been redeemed. Rental accrued for year ended Dec. 31, 1917. | 387.60 |
| Erie Terminals Railroad Company— | |
| Portion Edgewater to Undercliff, N. J., 1.576 miles of first main track and 0.33 mile of second main track; for indefinite period from Apr. 22, 1907; annual rental equal to 5 per cent on cost of construction of property so used, and on an amount deposited with State of New Jersey, plus taxes. | 22,491.80 |
| Solely leased, but jointly used, owned by Erie Terminals Railroad Company, used with— | |
| The New York Central Railroad Company— | |
| Tracks, 0.56 mile, between Undercliff, N. J., and Hudson-Bergen County line; annual rental equal to one-half of 4 per cent on an agreed valuation; also a proportion, on a wheelage basis, of maintenance and operation. | 99,995.08 |
| Jointly used, but not owned, owned by— | |
| The New Jersey Junction Railroad Company (The New York Central Railroad Company, operating company)— | |
| Tracks, 1.02 miles, at Hoboken, N. J., and Hudson River Turnpike; for indefinite period from Apr. 6, 1904; annual rental one-half of 4 per cent on an agreed valuation; also a proportion, on a wheelage basis, of taxes and maintenance. | 10,131.14 |
| Penhorn Creek Railroad and the Long Dock Company (Erie Railroad Company, operating company)— | |
| Tracks, 2.13 miles, from Croxton to Jersey City, N. J., together with passenger and freight terminals and ferry facilities at Jersey City, N. J.; indefinite period from Dec. 1, 1911; stipulated payment of $45,000 per annum and additional compensation for switching, handling baggage, freight, engines, cars, etc. | 49,896.36 |
| Northern Railroad Company of New Jersey, The President and Directors of The Paterson and Hudson River Railroad Company and the Long Dock Company (Erie Railroad Company, operating company)— | |
| Tracks, 4.62 miles, Granton Junction to Jersey City, N. J.; indefinite period from Dec. 1, 1911; the tracks of the New York, Susquehanna and Western parallel the tracks of above-named companies between the points mentioned, and all tracks are used as a double-track system. No rental has been accrued for the use of these facilities. | ...... |
| The Sussex Railroad Company— | |
| Tracks, 1.06 miles, at Franklin Furnace, N. J.; for indeterminable period from July 28, 1878; annual rental 5.24 mills per ton for freight handled. | 305.13 |
There are other facilities of minor importance, such as stations, interlockers, yard tracks, and sidings, in which the New York, Susquehanna and Western grants or receives joint use, that are not listed in this chapter.
During the period January 1, 1918, to date of valuation the New York, Susquehanna and Western has accrued rentals as due from the United States Railroad Administration for the use of its road amounting to $410,197.08.
Lessor Companies[edit]
- Hackensack and Lodi
- Lodi Branch Railroad
- Macopin Railroad
- Passaic and New York
Predecessor Companies[edit]
- THE NORTH JERSEY RAILROAD COMPANY—PREDECESSOR OF THE NEW YORK, SUSQUEHANNA AND WESTERN RAILROAD COMPANY (FIRST CORPORATION)
was controlled by any individual or corporation on June 17, 1881,
- THE MIDLAND CONNECTING RAILWAY COMPANY—PREDECESSOR OF THE NEW YORK, SUSQUEHANNA AND WESTERN RAILROAD COMPANY (FIRST CORPORATION)
No accounting records of
or corporation on June 17, 1881, the date of its consolidation,
Company of New Jersey and the New York, Susquehanna and Western (first corporation)