Wikipedia:WikiProject Trains/ICC valuations/Albany and Susquehanna Railroad

Interstate Commerce Commission, Valuation Reports, Volume 116

Location and General Description of Property
The railroad of the Albany and Susquehanna Railroad Company, hereinafter called the Albany and Susquehanna, is a partly double-track standard-gauge steam railroad, located in the east-central part of New York. The owned mileage extends southwestwardly from Albany to Binghamton, a distance of 142.441 miles. The Albany and Susquehanna owns second main-line tracks aggregating 94.537 miles. It also owns yard and side tracks totaling 159.484 miles. Its road thus embraces 396.462 miles of all tracks owned.

Corporate History
The Albany and Susquehanna was incorporated April 19, 1851, under the general laws of New York, for the purpose of constructing, maintaining, and operating a railroad from Albany to Binghamton. At the last-named point it was to connect with the New York and Erie Railroad, and due to this connection it was originally constructed of a broader gauge than that of the present standard-gauge railroads. The articles of association filed April 19, 1851, provided that the corporation should continue for 150 years. The time of completion of the road was extended by special acts of New York dated March 23, 1853, April 13, 1855, April 14, 1857, March 4, 1863, and April 24, 1867. Its organization was perfected by a meeting of the stockholders and election of officers on April 19, 1851. The entire property of the Albany and Susquehanna is leased to the carrier and has been operated by the latter since February 24, 1870. Its principal offices are located at Albany and New York City.

Development of Fixed Physical Property
The records of the Albany and Susquehanna indicate that preliminary surveys were begun in May, 1851, and grading and masonry for about 25 miles on the east end from Albany were commenced in 1853 under contract with independent contractors. Work was suspended in 1854, but was resumed in October, 1858, and finally completed in 1869. The property was placed in operation on the following dates:

The road was originally constructed of a gauge wider than the present standard gauge, on account of its connection with the New York and Erie Railroad at Binghamton. The carrier in 1871 constructed a third rail so that standard gauge equipment might be used, subsequently changing the entire road to standard gauge and constructing a second track of about 95.330 miles between Delanson and Binghamton.

Leased Railway Property
The property of the Albany and Susquehanna was leased February 24, 1870, for the term of its charter, to the year 2001, to the carrier. That agreement was amended on March 7, 1876. The terms of the lease and the rental accrued for the year ending on date of valuation are given in the section on leased railway property of the report on the carrier.