Wikipedia:WikiProject Trains/ICC valuations/New York, Lake Erie and Western Docks and Improvement Company

Interstate Commerce Commission, Valuation Reports, Volume 33

New York, Lake Erie and Western Docks and Improvement Company

Location and General Description of Property

The property of the New York, Lake Erie and Western Docks and Improvement Company, herein called the New York, Lake Erie and Western Docks and Improvement Company, consists of docks, warehouses, and other facilities, together with 26.895 miles of terminal yard tracks and sidings, located at Weehawken, N. J.

Introductory

The New York, Lake Erie and Western Docks and Improvement Company is a corporation of the State of New Jersey, having its principal office at Jersey City, N. J. No general 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 by the comptroller of the company, filed with us, and from other sources.

The company is controlled by the Erie through ownership of its entire outstanding capital stock. The records reviewed do not indicate that this company controls any common-carrier corporation.

The property was operated by The New York, Lake Erie and Western Railroad Company and its receivers from about 1890 to December 1, 1895. From the latter date to December 31, 1917, the property was operated by the Erie. The common-carrier property of this company was taken over for operation by the United States Railroad Administration on January 1, 1918, as part of the system of the Erie, and it is so operated on date of valuation.

Corporate History

The New York, Lake Erie and Western Docks and Improvement Company was incorporated June 28, 1881, under the general laws of New Jersey for the purpose of acquiring, reclaiming, and improving lands in Hudson County, N. J., and the construction of docks, warehouses, elevators, and railways, and to engage in the transportation, storage, transfer, or commission business incident thereto. The date of its organization was June 29, 1881.

Development of Fixed Physical Property

The owned property of this company, consisting of terminal yards, docks, warehouses, and other facilities, and 26.895 miles of yard tracks and sidings, was all acquired by construction. The records reviewed indicate that the construction of this company's property was principally performed for it by The New York, Lake Erie and Western Railroad Company, during the period from about 1881 to 1890.

Leased Railway Property

The common-carrier property of the New York, Lake Erie and Western Docks and Improvement Company is operated on date of valuation by the United States Railroad Administration as part of the system of the Erie. Details with respect to the operation of this property are given in the chapter on leased railway property in the report on the Erie.