Wikipedia:WikiProject Trains/ICC valuations/Bellefonte Central Railroad

Interstate Commerce Commission of the United States, Valuation Reports, Volume 110

Location and General Description of Property
The railroad of the Bellefonte Central Railroad Company, hereinafter called the carrier, consists of 22.458 miles of single-track standard-gauge steam railroad extending from Bellefonte to State College, and from a connection near State College to Pine Grove Mills, all in the State of Pennsylvania. In addition, it owns 4.899 miles of yard tracks and sidings, making 27.357 miles of all tracks owned.

Economic Conditions Relating to Traffic
The principal products of the region traversed are those of the farm.

Physical Characteristics of Road
The maximum grade is 3 per cent and maximum curvature 12°. The main track is laid mostly with 60-pound rail. There is some 85-pound rail. The road is ballasted principally with stone. There is a little cinder ballast.

Introductory
The accounting records of the carrier are incomplete. The records obtained indicate the net revenue from railway operations but do not contain any information regarding its financial dealings or investments or any other information in connection with corporate operations. Therefore, no information can be given from its accounts in connection with financial dealings or investments and only partial information can be given from that source regarding corporate operations. However, the data obtained from its accounts have been supplemented by those contained in the reports to this commission and the published reports of the State of Pennsylvania. The records reviewed do not indicate whether the carrier is controlled by any individual or corporation on date of valuation, nor, on the other hand, that it controls any other carrier corporation. The property of the carrier has been operated by its own organization during its entire existence.

Corporate History
The carrier was incorporated by letters patent issued May 9, 1892, under the general laws of Pennsylvania, for the purpose of acquiring the property, rights, and franchises of the Buffalo Run, Bellefonte & Bald Eagle Railroad Company. Pursuant to the above purpose, the carrier acquired at its organization the property, rights, and franchises of the Buffalo Run, Bellefonte & Bald Eagle Railroad Company. The carrier itself, and that corporation, together with its predecessors total four different corporations, and comprise the line of corporate succession culminating in the carrier as at present constituted. The following chart shows the names of the corporations, the respective dates of incorporation, and for each predecessor the date of succession, the immediately succeeding corporation, and the manner of succession. References to each of these corporations is made in the last column by its respective number shown in the first column.

Development of Fixed Physical Property
The owned mileage of the carrier, amounting to 22.458 miles, was all acquired through the reorganization of the Buffalo Run, Bellefonte and Bald Eagle Railroad Company. Of the three corporations that comprise the line of succession culminating in the carrier as at present constituted, two corporations did not construct any road or other common-carrier property. These companies were Bellefonte and Buffalo Run Railroad Company and Nittany Valley and Southwestern Railroad Company. The property constructed by the remaining corporation, the Buffalo Run, Bellefonte and Bald Eagle Railroad Company, consists of the road now owned by the carrier, which was completed by the year 1887.

Leased Railway Property
The carrier uses on date of valuation the station facilities of the Pennsylvania Railroad Company at Bellefonte, Pa., for which it pays $59 per month.