Wikipedia:WikiProject Trains/ICC valuations/Wilkes-Barre and Eastern Railroad
Interstate Commerce Commission, Valuation Reports, Volume 33
The Wilkes-Barre and Eastern Railroad[edit]
Location and General Description of Property[edit]
The railroad operated by The Wilkes-Barre and Eastern Railroad Company, herein called the Wilkes-Barre and Eastern, is a standard-gage, steam railroad, located in northeastern Pennsylvania. The owned mileage consists of a main line extending northwesterly from Stroudsburg to Wilkes-Barre and a short branch at Westminster, aggregating 64.554 miles of road owned and used. The company also owns and uses 0.849 mile of second main track at Wilkes-Barre. In addition, the Wilkes-Barre and Eastern uses but does not own 17.801 miles of road leased from other companies, of which 10.239 miles consist of branch lines in the vicinity of Scranton, Lackawanna County, Pa., and are part of the road owned by the New York, Susquehanna and Western Railroad Company. The remaining leased road is owned by a lessor, as described in the following paragraph.
[see Susquehanna Connecting Railroad]
The Wilkes-Barre and Eastern wholly owns and uses 87.663 miles of all tracks, and wholly uses but does not own 23.916 miles of all tracks. These tracks, consisting of first and second main tracks and yard tracks and sidings, are classified in the trackage table in Appendix 1.
The Wilkes-Barre and Eastern is a part of the Erie Railroad Company system, its main line being the western portion of a through route from New York, N. Y., to Wilkes-Barre, Pa.
Introductory[edit]
The Wilkes-Barre and Eastern is a corporation of the State of Pennsylvania, having its principal office at Dunmore, Pa. The accounting records of the company record its investments and financial transactions prior to June 30, 1897, but all of its transactions subsequently to that date covering investments and financial transactions and the results of corporate operations for its entire life are recorded in the records of the New York, Susquehanna and Western. Therefore, the accounting data in this report were obtained from the records of the Wilkes-Barre and Eastern or the New York, Susquehanna and Western.
The Wilkes-Barre and Eastern is controlled by the New York, Susquehanna and Western through the ownership of the entire outstanding capital stock. The records do not indicate that this company controls any common-carrier corporation.
The property of the Wilkes-Barre and Eastern was operated by its own organization from the date of completion 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 Wilkes-Barre and Eastern was incorporated March 8, 1892, for a period of 999 years, under the general laws of Pennsylvania, for the purpose of constructing and operating a railroad from Wilkes-Barre, Pa., to a point on the Delaware River at or near the Delaware Water Gap. The date of its organization was April 19, 1892.
Development of Fixed Physical Property[edit]
The owned mileage of the Wilkes-Barre and Eastern, 64.554 miles, was all acquired by construction. The years when the various portions of the line were constructed are indicated in the following statement.
| Mileage | |
|---|---|
| Stroudsburg to Market Street, Wilkes-Barre, Pa., 1892 to Dec. 1, 1893. | 64.985 |
| Connection with the railroad of the Wilkes-Barre Connecting Railroad Company west of the Susquehanna River at Wilkes-Barre, Pa., about 1913. | .181 |
| Connection with the railroad of the Wilkes-Barre Connecting Railroad Company west of depot at Plains, Pa., about 1913. | .062 |
| Westminster Junction, Pa., to a connection with the Everhart Branch of The Central Railroad Company of New Jersey, about 1896. | .470 |
| 65.698 | |
| Less mileage abandoned, from a point west of the Susquehanna River to Market Street, Wilkes-Barre, Pa., about 1905. | 1.126 |
| Total recorded mileage. | 64.572 |
| Difference between total recorded mileage and mileage inventoried as of date of valuation. | .018 |
| Mileage inventoried as of date of valuation. | 64.554 |
In the construction of the road built for the Wilkes-Barre and Eastern, its main line extending from Stroudsburg to Wilkes-Barre, Pa., was constructed under contract, during 1892 and 1893, by the Wilkes-Barre and Hudson River Construction Company, which was affiliated with the company, and by forces of the New York, Susquehanna and Western. The records reviewed do not indicate whether the remaining portions of road constructed for the company were constructed under contract or by company forces.
Leased Railway Property[edit]
The property of the Wilkes-Barre and Eastern, together with the property of others that it leased, 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 company with other carriers, in effect December 31, 1917, covering the use of joint facilities, 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 on December 31, 1917, are as follows:
| Rentals | |
|---|---|
| Solely owned, but jointly used; used with— | |
| Wilkes-Barre Connecting Railroad Company— | |
| Tracks, 1.054 miles, Plains Section from a point west of the bridge over the Susquehanna River to point of connection with the tracks of the above company west of depot at Plains, Pa.; term 99 years from Dec. 30, 1913; stipulated payment, interest at 5 per cent per annum or valuation of $153,387.33, less portion, on car basis, of interest at 5 per cent per annum on cost of reconstruction of this section of road; the amount of rental accrued was not ascertained. | ...... |
| The Delaware, Lackawanna & Western Railroad Company— | |
| Tracks, 0.797 mile, from a point east of the company's bridge over the tracks of the Central Railroad Company of New Jersey and the Lehigh Valley Railroad Company in the township of Plains, to the company's bridge over the Susquehanna River at Wilkes-Barre, Pa.; agreement effective July 1, 1910; fixed rental of | $2,500.00 |
| Solely leased, but jointly used, owned by the New York, Susquehanna and Western, leased by it to the Susquehanna Connecting Railroad and subleased to the Wilkes-Barre and Eastern, used with— | |
| Erie Railroad Company— | |
| Tracks, 4.405 miles, Winton Branch from D. L. & W. Junction to Storrs Junction, Pa .; agreement effective Sept. 2, 1916; annual rental 1 cent per ton-mile. | 6,615.16 |
| Tracks, 0.8 mile, Murray and Spencer branches; agreement effective Dec. 29, 1916; annual rental 5.15 mills per ton. | 613.18 |
| Tracks, 1.82 miles, Dolph Branch; annual rental 5 cents per ton of freight handled. | 2,098.27 |
| The Delaware, Lackawanna and Western Railroad Company— | |
| Tracks, 4.935 miles, Winton and Murray branches; agreement effective Jan. 1, 1908; annual rental 1 cent per ton-mile. | 42,938.47 |
| Tracks, 0.26 mile, Sibley Branch from D. L. & W. Junction to Sibley Breaker, Pa.; agreement effective Jan. 1, 1908; basis of use or amount of rental was not ascertained. | ...... |
| New York, Ontario and Western Railway Company— | |
| Tracks, 0.436 mile, portion of the Winton Branch from connection with the Riverside Branch of the above company and Jessup Colliery; agreement effective Dec. 1, 1908; annual rental 8 mills per ton of freight handled. | 1,101.67 |
| Tracks, 1.043 miles, Johnson Branch; agreement effective June 30, 1890; fixed rental of | 600.00 |
| Tracks, 0.3 mile, portion of Winton Branch; agreement effective July 1, 1908; fixed rental of | 10.00 |
| Tracks, 1.12 miles, portion of Winton Branch; agreement effective Dec. 1, 1908; fixed rental of | 500.00 |
| Solely used, but not owned, owned by— | |
| The Susquehanna Connecting Railroad— | |
| Entire property; term 999 years from Apr. 1, 1897, stipulated payment equal to interest on $500,000 par value of first mortgage bonds of the Susquehanna Connecting Railroad and also the sinking-fund payments for redemption of these bonds. No rental has been accrued since the year ended June 30, 1907. | ...... |
| New York, Susquehanna and Western— | |
| Leased to the Susquehanna Connecting Railroad and subleased by it to the Wilkes-Barre and Eastern— | |
| 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; in consideration of this lease the Susquehanna Connecting Railroad issued its capital stock in the par value of $500,000 to the New York, Susquehanna and Western. No rental has been accrued for use of this property. | ...... |
| Jointly used, but not owned, owned by— | |
| The Central Railroad Company of New Jersey— | |
| Tracks, 1.4 miles, Everhart Branch, from connection with the tracks of the Wilkes-Barre and Eastern near Westminster Junction, Pa., to connection with Minor and Ridgewood Collieries; for indefinite term from Oct. 1, 1896; stipulated payment 4 cents per ton of freight handled. | 1,730.61 |
| The Erie and Wyoming Valley Railroad Company— | |
| Tracks, 1.01 miles, from junction of Hillside Junction (Brownsville) Branch at Hillside Junction, Pa., and the main line of the above company to the Consolidated Colliery, held under lease by the Erie Railroad Company; agreement effective Mar. 15, 1917; stipulated payment 5 cents per ton of freight handled. | 3,065.29 |
| The Delaware, Lackawanna & Western Railroad Company— | |
| Tracks, 0.20 mile, Sterrick Creek Junction near Winton, Pa., on Grassy Island Railroad right of way to its junction with the Winton Branch of The Delaware, Lackawanna & Western Railroad Company at Winton, Pa., and thence to the tracks of the New York, Susquehanna and Western; agreement effective Jan. 1, 1908; basis of use and amount of rental was not ascertained. | ...... |
| Lehigh Valley Railroad Company— | |
| Tracks, 0.29 mile, Austin Branch connecting the New York, Susquehanna and Western's branch to Jermyn Colliery (near Moosic, Pa.) 1 and 2, and its branch to Sibley Breaker near Priceville, Pa.; agreement effective Aug. 18, 1897; basis of use and amount of rental was not ascertained. | ...... |
| New York, Ontario and Western Railway Company— | |
| Tracks, 0.40 mile, constructed by the above company under agreement dated July 1, 1908, on the right of way of the Winton Branch of the New York, Susquehanna and Western near Olyphant and Priceville, Pa.; basis of use and amount of rental was not ascertained. | ...... |
There are other facilities of minor importance, such as interlockers, crossing yard tracks, and sidings, in which the Wilkes-Barre and Eastern grants or receives joint use, that are not listed in this chapter.
During the period January 1, 1918, to date of valuation the Wilkes-Barre and Eastern has accrued rental as due from the United States Railroad Administration for use of its road amounting to $89,773.74.