Wikipedia:WikiProject Trains/ICC valuations/Union Railroad of Baltimore

Interstate Commerce Commission, Valuation Report, Volume 22

Union Railroad Company of Baltimore

The railroad of the Union Railroad Company of Baltimore, herein called the Union Railroad, is located within the city of Baltimore, Md., and extends from a point near Union Station to Bay View, with important lines projecting to Canton Wharves and Colgate Creek. This property aggregates 9,212 miles of road, with 8.655 miles of second, 3.630 miles of third, and 2.141 miles of fourth main tracks. This road forms a part of the main line between Philadelphia and Washington.

Introductory

The Union Railroad is a corporation of the State of Maryland, having its principal office at Baltimore, Md. No accounting records of the Union Railroad, except two valueless journals, covering the period from the date of its organization to February 28, 1882, were obtained. Therefore, only partial information can be given from the accounting records regarding its financial dealings, corporate operations, or investments. The accounting data in this report were obtained from records that cover the period from March 1, 1882, to date of valuation.

The Union Railroad is controlled by the Pennyslvania[sic] Railroad by virtue of its control of The Northern Central Railway Company, the company that owns a majority of the capital stock of the Union Railroad. On the other hand, the records do not indicate that this company controls any common-carrier corporation.

The property of the Union Railroad was operated by its own organization from the date of construction to April 1, 1918. From April 1, 1918, and still effective, by the Pennyslvania[sic] Railroad, under lease, for 991 years and nine months, dated March 13, 1918, effective April 1, 1918. On December 28, 1917 (effective for the purposes of accounting from midnight, December 31, 1917), the United States Railroad Administration took possession and assumed control of the railroad of this company.

Corporate History

The Union Railroad was incorporated February 6, 1866, under special act of the State of Maryland, for the purpose of constructing and maintaining a railroad in Baltimore and Baltimore County, Md. The date of organization of the Union Railroad has not been determined.

Development of Fixed Physical Property

The owned mileage of the Union Railroad, 9.212 miles, was all acquired by construction. The years when the various portions of the line were constructed are indicated in the following statement:

Guilford Avenue, Baltimore, to Bay View, Md., about 1867 to 1873 or 1874. 3.42

Ninth and East Madison Streets to Canton wharves, Baltimore, Md., about 1867 to 1873 or 1874. 2.88

Ninth Street and Second Avenue to Colgate Creek bridge, Baltimore, Md.

(date unknown. 0.95)

(1888. 1.00)

Total. 8.25

Difference between recorded mileage and mileage inventoried. 0.962

Mileage inventoried as of date of valuation. 9.212

All of the road built for the Union Railroad was constructed by Dull, Wiley and Company, contractors, with the exception of an extension of about 1 mile to Colgate Creek bridge constructed by company forces.

Leased Railway Property

The property of the Union Railroad, devoted to common-carrier purposes, was taken over for operation by the United States Railroad Administration on January 1, 1918, and it is so operated on date of valuation. However, on March 13, 1918, the property of the company was leased to the Pennsylvania Railroad, effective April 1, 1918, and from that date to date of valuation it has been operated by the United States Railroad Administration, as a part of the operating system of the Pennsylvania Railroad.

During the period January 1, 1918, to March 31, 1918, the Union Railroad has accrued rental from lease of road, United States Railroad Administration, amounting to $346,941.74, and from April 1, 1918, to date of valuation it has accrued rental from lease of road, Pennsylvania Railroad, amounting to $84,000.