Wikipedia:WikiProject Trains/ICC valuations/Barnegat Railroad

Interstate Commerce Commission, Volume 108, Valuation Reports

Location and General Description of Property
The railroad of Barnegat Railroad Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in the eastern part of New Jersey. The owned mileage extends in a northerly direction from Barnegat City Junction to Barnegat City, N. J. The carrier also leases from the Philadelphia & Beach Haven Railroad Company, a wye track at Barnegat City Junction. Below is a statement of the used mileage:

Jointly Used Property
The carrier has no jointly owned and used property.

Corporate History
The carrier was incorporated January 29, 1894, under the general laws of New Jersey through filing with the Secretary of State of New Jersey its certificate of organization, dated January 22, 1894. The purpose for which it was incorporated was to own, maintain, and operate that portion of the Long Beach Railroad, extending from Barnegat City to Barnegat City Junction, on Long Beach, including the franchises therefor. The date of organization of the carrier was January 22, 1894. The principal office is located in Camden, N. J. The detailed facts as to the development of the fixed physical property are given in Appendix 2.

Road
The grading is very light and has been computed on a one-way basis with overhaul. The track is laid with 60-pound Bessemer steel rail.

Development of Fixed Physical Property
The railroad owned by the carrier on date of valuation was part of the railroad formerly owned by the Long Beach Railroad. On November 28, 1893, the corporate property, rights, and franchises of the Long Beach Railroad were sold under foreclosure proceedings and conveyed in two separate parts. That portion of the road extending from Barnegat City Junction to Barnegat City, a distance of 8.15 miles, was conveyed to Wilson Brown by deed dated December 12, 1893. The latter conveyed the property to the carrier by deed dated January 22, 1894. The carrier also acquired by lease from the Philadelphia & Beach Haven Railroad Company effective June 25, 1909, about 0.68 mile of road extending from Barnegat City Junction to Long Beach City.

Leased Railway Property
The carrier exclusively used on date of valuation, under lease agreement, 0.677 mile of road of the Philadelphia & Beach Haven Railroad Company, extending from Barnegat City Junction to a connection with the railroad of the carrier near Long Beach City. The lease agreement is dated August 17, 1909, effective June 25,1909, and provides for termination thereof by 30 days' written notice. The rental payable for the year ended on date of valuation was $1.