Wikipedia:WikiProject Trains/ICC valuations/Connecting Railway

Interstate Commerce Commission, Volume 22, Valuation Reports

The Connecting Railway
The railroad of The Connecting Railway Company, herein called the Connecting Railway, is located within Pennsylvania and almost entirely in the city of Philadelphia, and extends from Girard Avenue to Frankford Station, with several important branch lines serving contiguous sections of the city. This railroad forms the connecting link in the Pennsylvania system between lines operating from the south and west into the city of Philadelphia and those operating northward and eastward. The main line from Girard Avenue to North Philadelphia and the Chestnut Hill branch are electrified to provide for the operation of the Pennsylvania's multiple unit suburban trains. This property aggregates 35.940 miles of road, with 13.093 miles of second, 6.373 miles of third, 6.358 miles of fourth, 5.924 miles of fifth, 0.763 mile of sixth, and 0.370 mile of seventh main tracks.

Introductory
The Connecting Railway is a corporation of the State of Pennsylvania, having its principal office at Philadelphia, Pa. It is controlled by the Pennsylvania Railroad through ownership of its entire capital stock. On the other hand, the records do not indicate that this company controls any carrier corporation. The property of the Connecting Railway was operated from the date of its organization, January 1, 1902, 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 operates it on date of valuation.

Corporate History
The Connecting Railway was incorporated January 1, 1902, under the general laws of Pennsylvania, for the purpose of acquiring and consolidating the property, rights and franchises of the Connecting Railway Company, the Philadelphia, Germantown and Chestnut Hill Railroad Company, the Kensington and Tacony Railroad Company, the Bustleton Railroad Company, the Fair Hill Railroad Company, the Engelside Railroad Company, and the Philadelphia, Bustleton and Trenton Railroad Company. Pursuant to the above-mentioned purpose, the Connecting Railway acquired at its organization the property, rights, and franchises of the seven corporations named. The Connecting Railway, itself, and those corporations, together with their predecessors, total 12 different corporations, and comprise the line of corporate succession culminating in the Connecting Railway 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. 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 Connecting Railway was all acquired by consolidation. Of the 11 corporations that comprise the line of succession culminating in the Connecting Railway as at present constituted, two corporations did not construct any road. These companies were the Bustleton Railroad Company and Bustleton and Eastern Railroad Company. The property constructed by the remaining corporations, the years when the various portions of the line were constructed, and the manner in which the Connecting Railway acquired the property are indicated in the following table, wherein, to facilitate comparison with the table showing the corporate succession, previously given, the order of corporations is maintained.

Acquired by consolidation:
 * From the Connecting Railway Company, constructed by that company, Frankford Junction to Mantua Junction, West Philadelphia, Pa., 1864-1867. 6.75
 * From the Philadelphia, Germantown and Chestnut Hill Railroad Company, constructed by that company—
 * Germantown Junction to Chestnut Hill, Pa., 1883-1884. 6.75
 * Near Allen Lane Station to near Fort Washington, Pa., 1892-1893. 6.27
 * Near Queen Lane Station, Pa., to Midvale Steel Works, 1892-1893. 0.85
 * 13.87
 * From the Kensington and Tacony Railroad Company—
 * Constructed by that company—
 * Along Delaware Avenue, Philadelphia, Pa., 1886-1887. 1.05
 * From a point east of Tioga Street and Delaware Avenue, Philadelphia, to Tacony, Pa., 1891-1892. 2.85
 * Frankford Creek to Frankford Street, Philadelphia, Pa., 1893-1894. 1.16
 * Constructed by The Philadelphia and Trenton Railroad Company, along Tioga Street, Philadelphia, Pa., 1878. 1.23
 * Constructed by the Frankford Creek Railroad Company, near Erie Avenue to Frankford Creek, Philadelphia, Pa., 1889-1890. .62
 * 6.91
 * From the Bustleton Railroad Company, constructed by the Frankford and Holmesburg Railroad Company, Holmesburg Junction to Bustleton, Pa., about 1870. 4.16
 * From the Fair Hill Railroad Company, constructed by that company, near North Penn Junction to Cambria Street, Philadelphia, Pa., 1895-1898. 0.78
 * From the Engelside Railroad Company, constructed by that company, near 32nd and Jefferson Streets to near Thompson Street, Philadelphia, Pa., 1892. 0.17
 * From the Philadelphia, Bustleton and Trenton Railroad Company, constructed by that company, including the completion of the portion of the road partly constructed by The Philadelphia and Bustleton Railway Company, near North Penn Junction to Oxford Road, Philadelphia, Pa., 1892-1896. 3.55

Total. 36.19
 * Difference between total recorded mileage and mileage inventoried as of date of valuation. 0.25

Mileage inventoried as of date of valuation. 35.940

Leased Railway Property
The entire property of the Connecting Railway is leased to the Pennsylvania Railroad for 999 years under the terms of an agreement dated January 1, 1868, and continued in effect by an agreement dated May 13, 1902. 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.

Connecting Railway Company
Introductory

The accounting records of this company for the period June 9, 1863, the date of its organization, to August 18, 1869, were not obtained. However, the records obtained included information that is applicable to that period. The company was controlled on January 1, 1902, the date of consolidation, by the Pennsylvania Railroad through ownership of the entire capital stock. The records do not indicate that this company then controlled any carrier corporation.

The property was operated by the Philadelphia and Trenton from June 2, 1867, to November 30, 1871, and by the Pennsylvania Railroad from the latter date to the date of consolidation. The railroad consisted of a standard-gauge, steam railroad, extending from Frankford Junction to Mantua Junction, West Philadelphia, Pa., 6.75 miles, and had been acquired by construction in 1864-1867.

Philadelphia, Germantown and Chestnut Hill Railroad Company
Introductory

This company was controlled by the Pennsylvania Railroad on January 1, 1902, the date of consolidation, through ownership of the entire capital stock. The records reviewed do not indicate that this company controlled any carrier corporation.

The property was operated by the Pennsylvania Railroad from the date of completion to date of consolidation. The railroad owned on the date of consolidation aggregated 13.87 miles, and consisted of a main line and two branch lines. The main line extended from Germantown to Chestnut Hill; one branch line extended from near Allen Lane station to near Fort Washington, and another from near Queen Lane station to the Midvale Steel Works, all in Pennsylvania.

This mileage had been acquired by construction in 1883-1893. The original road of about 7 miles was constructed under contract with James R. McClure, who at the time of the contract was connected with the Pennsylvania Railroad in an official capacity. An extension of about 7 miles was constructed by the forces of the Pennsylvania Railroad, under a contract between that company and James R. McClure.

Kensington and Tacony Railroad Company
Introductory

This company was controlled on January 1, 1902, the date of consolidation, by the Pennsylvania Railroad through ownership of its entire capital stock. The records do not indicate that this company then controlled any carrier corporation.

The property was operated by the Pennsylvania Railroad from the date of completion to the date of consolidation. The railroad owned consisted of a standard-gauge, steam railroad of 6.91 miles, all in the city of Philadelphia, Pa., of which the company had acquired 0.62 mile from the Frankford Creek Railroad Company, 1.23 miles from The Philadelphia and Trenton Railroad Company, and 5.06 miles by construction. Details with respect to the construction of this property are given under development of fixed physical property in the report on the Connecting Railway.

Frankford Creek Railroad Company
This company was controlled on April 14, 1891, the date of merger, by the Pennsylvania Railroad through ownership of its entire capital stock. The records do not indicate that this company then controlled any carrier corporation.

The property was operated by the Pennsylvania Railroad from the date of completion to date of merger, but no entries were made in the records to indicate the result of corporate operations. The railroad owned consisted of 0.62 mile of standard-gauge, steam railroad in the city of Philadelphia, Pa., which had been acquired by construction in 1889-90.

Bustleton Railroad Company
Introductory

This company was controlled on January 1, 1902, the date of consolidation, by the Pennsylvania Railroad, through ownership of its entire capital stock. The records do not indicate that this company then controlled any carrier corporation.

The property was operated from the date acquired to date of consolidation by the Pennsylvania Railroad, as agent. The railroad owned consisted of a standard-gauge, steam railroad, that extended from Holmesburg Junction to Bustleton. Pa., 4.16 miles, and had been acquired by purchase at foreclosure of the property of the Frankford and Holmesburg Railroad Company. Details with respect to the construction of this property are given under development of fixed physical property in the report on the Connecting Railway.

Frankford and Holmesburg Railroad Company
The accounting records of this company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. The data given below were obtained from other sources. The records obtained do not indicate whether the company was controlled by any individual or corporation on November 18, 1890, the date of sale, nor whether it then controlled any carrier corporation.

The property was operated by the Philadelphia and Trenton from January 1, 1871, to November 30, 1871, and by the Pennsylvania Railroad from the latter date to date of sale. The railroad owned consisted of a standard-gauge, steam railroad that extended from Holmesburg to Bustleton, Pa., 4.16 miles, which was acquired by construction about 1870.

Fair Hill Railroad Company
Introductory

This company was controlled by the Pennsylvania Railroad January 1, 1902, the date of consolidation, through ownership of the entire capital stock. The words do not indicate that this company then controlled any carrier corporation.

The property was operated from the date of its completion to the date of consolidation by the Pennsylvania Railroad. The railroad owned consisted of 0.78 mile of standard-gauge, steam railroad that extended from near North Penn Junction to Cambria Street in the city of Philadelphia, Pa., which was acquired by construction in 1895-1896.

Engleside Railroad Company
Introductory

This company was controlled by the Pennsylvania Railroad on January 1, 1902, the date of consolidation, through ownership of the entire capital stock. The records do not indicate that this company then controlled any carrier corporation.

The property was operated by the Pennsylvania Railroad from the date of completion to the date of consolidation. The railroad owned consisted of 0.17 mile of standard-gauge, steam railroad in the city of Philadelphia, Pa., which, was acquired by construction in 1892.

Philadelphia, Bustleton and Trenton Railroad Company
Introductory

This company was controlled by the Pennsylvania Railroad on January 1, 1902, the date of consolidation, through ownership of the entire capital stock. The records do not indicate that this company then controlled any carrier corporation.

The property was operated by the Pennsylvania Railroad from the date it was acquired to the date of consolidation. The Pennsylvania Railroad operated the property at its own cost and free of rental. The railroad consisted of 3.55 miles of standard-gauge, steam-operated railroad that extended from North Penn Junction to Oxford Road, all in the city of Philadelphia, Pa. The road was partly constructed by The Philadelphia and Bustleton Railroad Company and completed by this company, in 1892–1896.

The Philadelphia and Bustleton Railway Company
Introductory

This company was controlled, on the date of consolidation, May 1, 1893, by the Pennsylvania Railroad through the ownership of its entire capital stock. The records do not indicate that this company then controlled any carrier corporation.

The property consisted of a partly constructed standard-gauge, steam railroad in the city of Philadelphia, Pa., which was acquired by construction.

Bustleton and Eastern Railroad Company
Introductory

This company was-controlled on date of consolidation, May 1, 1893, by the Pennsylvania Railroad through ownership of the entire capital stock. The records do not indicate that this company then controlled any carrier corporation. The company did not construct any railroad or other common-carrier property.