Wikipedia:WikiProject Trains/ICC valuations/Chester Railroad

Interstate Commerce Commission, Valuation Reports, Volume 39

The Chester Railroad

Location and General Description of Property

The railroad of The Chester Railroad Company, hereinafter called the Chester Railroad, is a single-track line located within the State of New Jersey and extending from Chester Junction to Chester, a distance of 10.032 miles.

Introductory

The Chester Railroad is a corporation of the State of New Jersey, having its principal office in New York, N. Y. The accounting records of this company do not include the results of its corporate operations. The Chester Railroad is controlled by the Lackawanna through ownership of a majority of its corporate stock. On the other hand, the records reviewed do not indicate that this company controls any common-carrier corporation. The property of the Chester Railroad was operated by the Morris and Essex from the date of completion to December 31, 1868, and by the Lackawanna from January 1, 1869 to December 31, 1917. From that date to date of valuation it has been operated by the United States Railroad Administration as a part of the operating unit of the Lackawanna.

Corporate History

The Chester Railroad was incorporated April 2, 1867, by special act of the State of New Jersey. The date of its organization was December 28, 1867.

Development of Fixed Physical Property

The owned mileage of the company, extending from Chester to Chester Junction, N. J., 10.032 miles, was acquired by construction during the year 1868. The construction work was performed partly by contract and partly by the company with its own forces.

Leased Railway Property

The entire property of the Chester Railroad is leased to the Lackawanna in perpetuity from May 15, 1868. The terms of the lease are given in the chapter on leased railway property of the report on the Lackawanna.