Wikipedia:WikiProject Trains/ICC valuations/Freehold and Jamesburg Agricultural Railroad

Interstate Commerce Commission, Volume 23, Valuation Reports

Location and General Description of Property
The railroad of The Freehold & Jamesburg Agricultural Railroad Company, herein called the Freehold & Jamesburg, is a standard-gauge, steam railroad, located in eastern New Jersey. The main line extends southeasterly from Jamesburg to Sea Girt, 27.323 miles, of which 0.902 mile is double tracked. The company also owns 8.688 miles of yard tracks and sidings. Its road thus embraces 36.913 miles of all tracks owned and used. The Freehold & Jamesburg forms a part of the Pennsylvania Railroad system, its line being a branch reaching the Atlantic Coast. The Freehold & Jamesburg does not maintain any operating organization, its property being operated by the Pennsylvania Railroad under an agency agreement, as explained in Appendix 2.

Economic Conditions Relating to Traffic
The surrounding country is intensively cultivated, the principal products being those of truck farms, which comprise the principal traffic originating on the line. There is considerable passenger traffic to beach resorts during the summer months.

Physical Characteristics of Road
The grading is light, averaging about 19,000 cubic yards per mile, all of which is common material. There are no important bridges on the road. The main track is laid chiefly with new 85-pound rail or oak, yellow pine, and treated crossties. The main line is ballasted principally with cinders.

Introductory
The Freehold & Jamesburg is a corporation of the State of New Jersey, having its principal office at Camden, N. J. It is controlled by the Pennsylvania Railroad, as lessee of The United New Jersey Railroad and Canal Company through ownership of a majority of the capital stock. The records reviewed do not indicate that the Freehold & Jamesburg, itself, controls any carrier corporations.

The property of the Freehold & Jamesburg was operated from the date of acquisition to December 31, 1917, by the Pennsylvania Railroad, as agent, under an agency agreement dated July 16, 1879. On January 1, 1918, its common-carrier property, with that of the Pennsylvania Railroad, was taken over for operation by the United States Railroad Administration which operates it on date of valuation.

Corporate History
The Freehold & Jamesburg was incorporated May 21, 1879, under the general laws, supplemented by a special act, of New Jersey through articles of consolidation dated April 24, 1879, filed May 21, 1879, for the purpose of acquiring the property, rights, and franchises of the Freehold and Jamesburg Agricultural Railroad Company, The Farmingdale and Squan Village Railroad Company, and the Squankum and Freehold Marl Company. The company was organized May 24, 1879. Pursuant to the above purpose the Freehold & Jamesburg acquired at its organization the property, rights, and franchises of the three railroad corporations named. The following chart shows the names of the corporations and the respective dates of incorporation and the dates and manner of succession.

Development of Fixed Physical Property
The owned mileage of the Freehold & Jamesburg, amounting to 27.323 miles, was acquired through the consolidation of May 21, 1879. The property constructed by each corporation and the years when the various portions of the line were constructed are indicated in the following table, wherein to facilitate comparison with the table showing the corporate succession, previously given, the same order of corporations is maintained.


 * Acquired in the consolidation of May 21, 1879:
 * From the Freehold and Jamesburg Agricultural Railroad Company, constructed by that company—
 * Jamesburg to Freehold, N. J., October, 1853. 11.45
 * Jamesburg to Deans Pond, N. J., 1866. 6.50
 * Total. 16.95
 * Less road sold to The United New Jersey Railroad and Canal Company, July 29, 1874, Jamesburg to Deans Pond, N. J. 5.50
 * Net of the above items. 11.45
 * From the Farmingdale and Squan Village Railroad Company constructed by that company, Farmingdale to Squan Village (Sea Girt), N. J., July, 1872. 8.60
 * From the Squankum and Freehold Marl Company, constructed by that company, Freehold to Farmingdale, N. J., Dec. 28, 1868. 7.65
 * 27.70
 * Reduction by remeasurement. 0.38
 * Total. 27.32
 * Difference between recorded mileage and mileage inventoried. 0.003
 * Total inventoried as of date of valuation. 27.323

Leased Railway Property
The entire property of The Freehold & Jamesburg is exclusively operated by the Pennsylvania Railroad, under an agreement of July 16, 1879, which was effective from June 1, 1879. The rent agreed on is a sum equal to the net revenue from railway operations resulting from the operation of the leased property. The agreement runs indefinitely and is terminable upon 30 days' notice from either party. On January 1, 1918, the common-carrier property of The Freehold & Jamesburg was taken over for operation with the other roads of the Pennsylvania Railroad system and no separate accounting was made therefor.