Wikipedia:WikiProject Trains/ICC valuations/North East Pennsylvania Railroad

Interstate Commerce Commission of the United States, Valuation Reports, Volume 32

The North East Pennsylvania Railroad Company

Location and General Description of Property

The railroad of The North East Pennsylvania Railroad Company, herein called the North East Pennsylvania, is a standard-gage, steam railroad, located in the eastern part of Pennsylvania. The owned mileage extends in a northeasterly direction from Glenside to New Hope, a distance of 25.623 miles. The North East Pennsylvania also owns and uses 1.987 miles of second main tracks and 5.431 miles of yard track and sidings. Its road thus embraces 33.041 miles of all tracks owned.

Economic Conditions Relating to Traffic

The principal products of the region are those of the farm and forest.

Physical Characteristics of Road

The grading averages 18,410 cubic yards per mile, of which 29 per cent is solid rock. The main track is laid entirely with 76 and 90 pound relay rail. Yard tracks and sidings are laid with 68 to 90 pounds relay rail. The ballast averages approximately 2,900 cubic yards per mile, and consists principally of cinders, with some crushed stone and slag.

Introductory

The North East Pennsylvania is a corporation of the State of Pennsylvania, having its principal office at Philadelphia, Pa. The North East Pennsylvania is controlled by the Reading Company through ownership of a majority of the outstanding capital stock. The property is operated as a part of the Philadelphia and Reading Railway System and uses in common with the other roads of that system the equipment owned by the Reading Company.

Corporate History

The North East Pennsylvania was incorporated December 14, 1870, under the general laws of Pennsylvania.

Development of Fixed Physical Property

The owned mileage of the North East Pennsylvania was all acquired by construction as follows:

	Acquired for operation	Approximate mileage
Glenside to Bucks County Line.	Dec. 18, 1872.	7.20
Bucks County Line to Hartsville.	Nov. 9, 1874.	2.44
Hartsville to New Hope.	Mar. 29, 1891.	16.00
Total.	...	25.64
Difference between total recorded mileage and mileage inventoried as of date of valuation.	...	.017
Mileage inventoried as of date of valuation.	...	25.623

Leased Railway Property

The North East Pennsylvania uses, in common with the other roads of the Philadelphia and Reading Railway System, equipment which is owned by the Reading Company and leased to the Philadelphia and Reading. The available records do not indicate that any equipment is permanently assigned to the use of the North East Pennsylvania, but that the Philadelphia and Reading furnishes the needed equipment and assesses charges therefor under the roles of the American Railway Association. The amounts payable for the use of the equipment are included in the income account for the hire of freight cars and rent of equipment.