Wikipedia:WikiProject Trains/ICC valuations/Belvidere Delaware Railroad

Interstate Commerce Commission, Volume 22, Valuation Reports

The Belvidere Delaware Railroad
The railroad of The Belvidere Delaware Railroad Company, herein called the Belvidere Delaware, is located in New Jersey and Pennsylvania and extends from Trenton, N.J., to Manunka Chunk, N. J., about 67 miles, with branch lines projecting from Trenton to East Trenton, N. J., Lambertville to Flemington, N. J., and from Martin's Creek, N. J., to Martin's Creek, Pa. With the exception of 0.269 mile of second main track the railroad is single track and aggregates 80.250 miles of road.

Introductory
The Belvidere Delaware is a corporation of the State of New Jersey, having its principal office at Camden, N. J. It is controlled by the Pennsylvania Railroad through the latter's lease of the United New Jersey Railroad. The last named company owns a majority of its outstanding capital stock. On the other hand, the records do not indicate that this company controls any common-carrier corporation. The property of the Belvidere Delaware was operated from the date of its organization, February 16, 1885, to December 31, 1917, by the Pennsylvania Railroad. On January 1, 1918, its common-carrier property was taken over for operation by the United States Railroad Administration, which still operates it on date of valuation.

Corporate History
The Belvidere Delaware was incorporated February 16, 1885, under the genera[sic] laws of New Jersey, for the purpose of acquiring and consolidating the property, rights and franchises of The Belvidere Delaware Rail Road Company and The Flemington Railroad and Transportation Company. Pursuant to the above purposes, the Belvidere Delaware acquired at its organization the property, rights and franchises of the two corporations named. It subsequently acquired, under the terms of an agreement dated February 26, 1896, filed with the Secretary of the Commonwealth of Pennsylvania March 11, 1896, and with the Secretary of State of New Jersey, April 14, 1896, the property, rights and franchises of the Enterprise Railroad Company, the Martins Creek Railway Company (New Jersey) and the Martins Creek Railway Company (Pennsylvania). The Belvidere Delaware, itself, and the above-named corporations total six different corporations and comprise the line of corporate succession culminating in the Belvidere Delaware as at present constituted. The following chart shows the names of the corporations, the respective dates of incorporation and for each predecessor the date and manner of succession. Reference 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 mileage owned by the Belvidere Delaware, amounting to 80.25 miles, was all acquired by consolidation and merger.

The property constructed by the five corporations that comprise the line of corporate succession culminating in the Belvidere Delaware as at present constituted, the years when the various portions of the line were constructed, and the manner in which this company acquired the property are indicated in the following table, wherein, to facilitate comparison with the table showing corporate succession, the same order of corporations is maintained.


 * Acquired by consolidation of Feb. 16, 1885:
 * From The Belvidere Delaware Railroad Company, constructed by that company—
 * Trenton to Lambertville, N. J., 1849–1851. 16.20
 * Lambertville to Phillipsburg, N.J., 1852–1854. 34.50
 * Phillipsburg to Belvidere, N.J., 1855. 13.59
 * Belvidere to Manunka Chunk, N.J., 1863–1864. 3.20
 * 67.49
 * From The Flemington Railroad and Transportation Company, constructed by that company, Lambertville to Flemington, N. J., 1853-1855. 11.67
 * Acquired by merger of Apr. 14, 1896:
 * From the Enterprise Railroad Company, constructed by that company, Trenton (Coalport) to East Trenton, N. J., 1884–1885. 1.50
 * From the Martins Creek Railway Company (New Jersey), constructed by that company, Martins Creek, N. J., to the Pennsylvania State line (middle of the Delaware River), 1885. 0.14
 * From the Martins Creek Railway Company (Pennsylvania), constructed by that company, Martins Creek, Pa., to the New Jersey State line (middle of the Delaware River), 1885. 0.15
 * Total. 80.95
 * Difference between total recorded mileage and mileage inventoried as of date of valuation. .70
 * Mileage inventoried as of date of valuation. 80.25

Leased Railway Property
The entire property of the Belvidere Delaware is leased to the United New Jersey Railroad for a term begun January 1, 1876, and to end June 30, 2870. The United New Jersey Railroad assigned its leasehold estate to the Pennsylvania Railroad and the terms of the lease and the rental accrued for the year ended December 31, 1917, are given in the chapter on leased railway property of the report on the Pennsylvania Railroad. On January 1, 1918, its common-carrier property was taken over for operation by the United States Railroad Administration, which operates it on date of valuation.

The Belvidere Delaware Rail Road Company
Introductory

The accounting records of the company were not obtained for the period from the date of its organization, August 23, 1836, to January, 1S56. Therefore, only partial information can be given from its accounts regarding financial dealings, corporate operations, and investments. The company was controlled on the date of its consolidation, February 16, 1885, by the Pennsylvania Railroad, through the latter's lease of the United New Jersey Railroad. The United New Jersey Railroad then owned a majority or all of the outstanding capital stock of this company. The records reviewed do not indicate that this company then controlled any common-carrier corporation.

The property of the company was operated by its own organization from about February, 1851, to April, 1872. From the latter date to the date of its consolidation the property was operated by the Pennsylvania Railroad under lease.

The railroad consisted of a single-track, standard-gauge, steam railroad, wholly within New Jersey, and extending from Trenton to Manunka Chunk, 67.49 miles, which had been acquired by construction in 1849-1864.

The Fleminqton Railroad and Transportation Company
Introductory

This company was controlled by the Pennsylvania Railroad on February 16, 1885, the date of its consolidation, through ownership of a majority or all of the outstanding capital stock. The records reviewed do not indicate that this company then controlled any common-carrier corporation.

The property was operated in conjunction with the property of the Belvidere Delaware Railroad Company under a joint management during the period 1855 to April 1, 1872. From the latter date to the date of consolidation it was operated by the Pennsylvania Railroad. The railroad owned on the date of consolidation consisted of a single-track, standard-gauge, steam railroad wholly within New Jersey and extending from Lambertville to Flemington, 11.67 miles, which had been acquired by construction in 1853-1855.

Enterprise Railroad Company
Introductory

This company was controlled by the Pennsylvania Railroad on April 14, 1896, the date of merger, through ownership of its entire capital stock. The records reviewed do not indicate that this company then controlled any common-carrier corporation. The property was operated by the Pennsylvania Railroad from the date of its completion to date of merger, without formal operating agreement, and as a part of the railroad owned by the Belvidere Delaware. The results of corporate operations are included in the general accounts of the Pennsylvania Railroad and are not separable from the results of operating other property.

The railroad of the company on date of merger consisted of a single-track, standard-gauge, steam railroad wholly within the State of New Jersey and extending fron[sic] Trenton (Coalport) to East Trenton, 1.6 miles, which had been acquired by construction in 1884-1885.

Martins Creek Railway Company (New Jersey)
Introductory

This company was controlled by the Pennsylvania Railroad on April 14, 1896, the date of merger, through ownership of its entire capital stock. The records reviewed do not indicate that this company then controlled any common-carrier corporation. The property was operated by the Pennsylvania Railroad from the date of its completion to date of merger without formal operating agreement and as a part of the railroad owned by the Belvidere Delaware. The results of corporate operations are included in the general accounts of the Pennsylvania Railroad and are not separable from the results of operating other property.

The railroad owned by the company on date of merger consisted of a single-track, standard-gauge, steam railroad wholly within the State of New Jersey and extending from the Pennsylvania State line in the middle of the Delaware River to Martins Creek, 0.14 mile, which had been acquired by construction in 1885.

Martins Creek Railway Company (Pennsylvania)
Introductory

This company was controlled by the Pennsylvania Railroad on April 14, 1896, the date of merger, through ownership of its entire capital stock. The records reviewed do not indicate that this company then controlled any common-carrier corporation. The property was operated by the Pennsylvania Railroad from the date of its completion to date of merger without formal operating agreement and as a part of the railroad owned by the Belvidere Delaware. The results of such operations are included in the general accounts of the Pennsylvania Railroad and are not separable from the results of operating other property.

The railroad owned by the company on the date of merger consisted of a single-track, standard-gauge, steam railroad wholly within the State of Pennsylvania and extending from the New Jersey State line in the middle of Delaware River to Martins Creek, 0.15 mile, which had been acquired by construction in 1885.