Wikipedia:WikiProject Trains/ICC valuations/Hocking Valley Railway

Interstate Commerce Commission, Valuation Reports, Volume 29

Location and General Description of Properties
The railroad operated by The Hocking Valley Railway Company, herein called the carrier, is a standard-gage, steam railroad, located in central Ohio. The railroad is single-track, with the exception of 47.503 miles, which is double-tracked.

The owned mileage consists of two main lines and five branches. One main line extends southeasterly from Rockwell Junction, near Toledo, to Athens, a distance of 195.792 miles, and the other extends from a junction with the first-mentioned line at Oldtown in a general southerly direction to Pomeroy, a distance of 80.710 miles. The branch lines project from Logan to New Straitsville, Nelsonville to Monday Creek Junction, Snow Fork Junction to Murray City, Brush Fork Junction to New Pittsburgh, and Hocking to near Poston. The company also owns facilities in Toledo. The properties used under lease comprise additional branch lines. Trackage rights over roads of other carriers afford access to owned and rented facilities at Toledo.

The principal cities served by the carrier are Athens, Columbus, Delaware, Fostoria, Gallipolis, Jackson, Lancaster, Marion, Nelsonville, Pomeroy, Toledo, and Wellston, Ohio. The company is controlled by The Chesapeake and Ohio Railway Company and forms a part of that carrier's system in reaching Columbus, Toledo, and the coal fields of central Ohio.

The carrier wholly owns 319.962 miles of road, all of which it uses. It also wholly uses 20.909 miles of road owned by lessors, whose entire common-carrier properties it leases and operates, as described in the following paragraphs.

The railroad of The Wellston and Jackson Belt Railway Company, herein called the Wellston and Jackson Belt Railway, is a single-track line located entirely within the State of Ohio and extending southwesterly from Dundas to Jackson, a distance of 16.956 miles.

The railroad of The Pomeroy Belt Railway Company, hereinafter called the Pomeroy Belt Railway, is a single-track line located entirely within the State of Ohio and extending from Pomeroy to near-by mines of the Peacock Coal Company, a distance of 3.953 miles.

The carrier wholly owns and uses 691.512 miles of all tracks and wholly uses but does not own 28.687 miles of all tracks. These tracks are classified in the trackage table in Appendix 1. The carrier also jointly owns and uses with other carriers 10.000 undivided miles of all tracks, and jointly uses with another carrier 0.161 undivided mile of all tracks which are jointly owned by one of its lessors and the other carrier. The carrier's proportion of this joint mileage, based on ownership or use, is also shown in the trackage table in Appendix 1.

Introductory
The carrier is a corporation of the State of Ohio, having its principal office at Columbus, Ohio. Although the carrier acquired title to its original property on February 25, 1899, it did not commence recording results of operations in the books until March 1, 1899. The accounting data in this report, therefore, cover the period from March 1, 1899.

The carrier is controlled by The Chesapeake and Ohio Railway Company through ownership of a majority of capital stock. On the other hand, the carrier controls, through ownership of the entire capital stock, the Wellston and Jackson Belt Railway, and through ownership of a majority of the capital stock, the Pomeroy Belt Railway, whose common-carrier properties it operates.

It controls jointly with other companies, through ownership of 9.68 per cent of the capital stock, The Toledo Terminal Company, which operates its own property. The other controlling companies are the Pere Marquette Railway Company; The New York Central Railroad Company; The Cincinnati, Hamilton and Dayton Railway Company; Pennsylvania Company; The Michigan Central Railroad Company; Grand Trunk Western Railway Company; Toledo, St. Louis and Western Railway Company; and The Toledo and Ohio Central Railway Company.

The property of the carrier has been operated by its own organization since March 1, 1899.

Corporate History
The carrier was incorporated February 25, 1899, under the general laws of the State of Ohio, for the purpose of acquiring the property, rights, and franchises of The Columbus, Hocking Valley and Toledo Railway Company, and of maintaining and operating the said property. The date of organization was February 25, 1899.

Pursuant to the above purpose, the carrier acquired at its organization the property, rights, and franchises of that company. It also acquired by purchase the property, rights, and franchises of The Dayton, Hocking Valley and Eastern Railway Company and The Athens, Amesville & Chauncey Railway Company. The carrier itself and those corporations, together with their predecessors, total 9 different corporations, of which one underwent a change of name, 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. 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 owned mileage of the carrier, amounting to 319.962 miles, was acquired partly by purchase from the reorganization managers and partly by direct purchase. The property constructed by the eight corporations that comprise the line of succession culminating in the carrier as at present constituted, the years when the various portions of the line were constructed, and the manner in which the carrier acquired the property 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.

Leased Railway Property
The carrier uses on date of valuation facilities owned by other companies and other companies use facilities owned by the carrier to the extent indicated in the statement below. The description of the property, the period and terms of use, and the rentals accrued and charged or credited to income for the year ending on date of valuation are as follows: In addition to the foregoing, the carrier performs puller service on tracks of The Toledo Terminal Railroad Company at Toledo, Ohio, for several other carriers. The lines served and the amounts credited to income for the year ending on date of valuation are as follows:
 * The Ann Arbor Railroad Company. $1,581.93
 * The Detroit and Toledo Shore Line Railroad Company. 4,321.32
 * The Michigan Central Railroad Company. 6,844.63
 * The Wheeling and Lake Erie Railway Company. 1,042.45
 * Pere Marquette Railway Company. 4,552.45

There are other facilities of minor importance, such as interlockers, yard tracks, and sidings, in which the carrier grants or receives joint use, that are not listed in this chapter.

Lessor Companies

 * Wellston and Jackson Belt Railway
 * Pomeroy Belt Railway

The Columbus, Hocking Valley and Toledo Railway–Predecessor of The Hocking Valley
Introductory

Although The Columbus, Hocking Valley and Toledo Railway Company acquired title to its original property through the consolidation agreement that became effective August 20, 1881, its accounting records were not opened until October 1, 1881. The property of this company was conveyed to its successor by deed dated February 25, 1899, but the accounts of the company and of the receiver, for the results of corporate operations, continued to February 28, 1899, and other accounts were not closed until that date. The accounting data in this report, therefore, cover the period October 1, 1881, to February 28, 1899.

The records reviewed do not indicate that The Columbus, Hocking Valley and Toledo Railway Company was controlled by any individual or corporation on February 24, 1899, the date its property was sold. On the other hand, this company, itself, controlled on the date of sale, through ownership of the entire capital stock, The Wellston and Jackson Belt Railway Company, whose common-carrier property it operated under agreement.

The property of this company was operated by its own organization from the date it acquired possession of its original 308.48 miles of railroad, October 1, 1881, until the receivership, February 25, 1897. From that date the property was operated by a receiver until it was surrendered to the Hocking Valley, March 1, 1899, although it was conveyed to the latter company by deed dated February 25, 1899.

The railroad operated by the receiver of the company was a single-track, standard-gage, steam railroad, located in the State of Ohio, and aggregated 323.69 miles. The owned mileage amounted to 314.69 miles and consisted of two main lines and several branch lines. One main line extended from Rockwell, near Toledo, to Athens, Ohio, and the other extended from Oldtown to Pomeroy, Ohio. The branch lines extended from Logan to New Straitsville, Nelsonville to Monday Creek Junction, Brush Fork Junction to New Pittsburgh, and Snow Fork Junction to Murray City, all in Ohio. The mileage operated under agreement amounted to 19 miles and consisted of belt tracks in Pomeroy, Ohio, and a branch line that extended from Dundas to Jackson, Ohio. The company had trackage rights over 11.3 miles of other companies, part of which afforded access to Toledo, Ohio, and the docks near that city.

Development of Fixed Physical Property

Of the 314.69 miles of road owned by The Columbus, Hocking Valley and Toledo Railway Company on the date of sale, it had acquired 109.78 miles from The Columbus and Hocking Valley Railroad Company, 80.7 miles from The Ohio and West Virginia Railway Company, 118 miles from The Columbus and Toledo Railroad Company, and 6.21 miles by construction. The construction work of this company was all performed by company forces. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Hocking Valley.

The Columbus and Hocking Valley Railroad Formerly Names The Mineral Rail Road—Predecessor of The Columbus, Hocking Valley and Toledo Railway
Introductory

Although the agreement of consolidation of the property of this company became effective on August 20, 1881, the accounts of the company, for the results of corporate operations, continued to September 30, 1881, and other accounts were not closed until that date. The accounting data in this report, therefore, cover the period to September 30, 1881. The Columbus and Hocking Valley Railroad Company was controlled on August 20, 1881, the date of consolidation, by a syndicate of Cleveland, Ohio, through ownership of a majority of its capital stock. On the other hand, the records reviewed do not indicate that it then controlled any common-carrier corporation.

The property of this company was operated by its own organization from the date the first section of its road was placed in operation, January, 1869, to date of consolidation. The Columbus and Hocking Valley Railroad Company owned on the date of consolidation 109.78 miles of railroad, located in Ohio. It consisted of a main line extending from Columbus to Athens, Ohio, with branches extending from Logan to New Straitsville, Snow Fork Junction to Orbiston, and Nelsonville to Monday Creek Junction, Ohio.

Development of Fixed Physical Property

The entire 109.78 miles of railroad owned by the company on the date of consolidation had been acquired by construction. The construction work was principally performed by numerous contractors, none of whom appears to have been affiliated with the company. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Hocking Valley.

The Ohio and West Virginia Railway—Predecessor of The Columbus, Hocking Valley and Toledo Railway
Introductory

Although the agreement of consolidation of the property of this company became effective on August 20, 1881, the accounts of the company for the results of corporate operations continued to September 30, 1881, and other accounts were not closed until that date. The accounting data in this report, therefore, cover the period to September 30, 1881. The Ohio and West Virginia Railway Company was controlled on the date of consolidation by a syndicate of Cleveland, Ohio, through ownership of capital stock. On the other hand, the records reviewed do not indicate that it then controlled any common-carrier corporation.

The property of the company was operated by its own organization from the date the first section of the road was placed in operation, October 15, 1880, to date of consolidation. The railroad operated by The Ohio and West Virginia Railway Company on the date of consolidation amounted to 80.7 miles, all owned. It consisted of a single-track, standard-gauge, steam railroad, wholly within the State of Ohio and extending from Oldtown to Pomeroy, Ohio. The Ohio and West Virginia Railway Company used under trackage rights 1.5 miles of road of The Columbus and Hocking Valley Railroad Company, which afforded it access to Logan, Ohio.

Development of Fixed Physical Property

The 80.7 miles of road owned by The Ohio and West Virginia Railway Company on the date of consolidation had been acquired partly by original construction and partly by completing construction begun by its predecessors. The construction work of The Ohio and West Virginia Railway Company was all performed under contract. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Hocking Valley.

Columbus and Gallipolis Railway—Predecessor of The Ohio and West Virginia Railway
No accounting records of the Columbus and Gallipolis Railway Company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from minute books of The Ohio and West Virginia Railway Company, court records, and other sources. The records reviewed do not indicate whether the Columbus and Gallipolis Railway Company was controlled by any individual or corporation on August 26, 1878, the date its property was sold at foreclosure, nor, on the other hand, whether it then controlled any other common-carrier corporation.

The company owned on the date of sale a partially completed roadbed between Logan and Gallipolis, Ohio, that had been acquired by continuation of construction begun by its predecessor. The construction work of the Columbus and Gallipolis Railway Company was all performed under contract by Hill and McKechney, contractors. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Hocking Valley.

The Gallipolis, McArthur and Columbus Railroad–Predecessor of the Columbus and Gallipolis Railway
No accounting records of The Gallipolis, McArthur and Columbus Railroad Company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from other sources. The records reviewed do not indicate whether The Gallipolis, McArthur and Columbus Railroad Company was controlled by any individual or corporation on August 16, 1876, the date its property was sold, nor, on the other hand, whether it controlled any common-carrier corporation.

The company owned on the date of sale approximately 43 miles of partially completed roadbed between Logan and Gallipolis, Ohio, that had been acquired by construction. A report of the Commissioner of Railroads and Telegraphs of the State of Ohio, as of June 30, 1873, states that about 18 miles of the road graded for this company was "on the old line of the Scioto and Hocking Valley Railway," regarding which no further information could be obtained. It is not known whether the construction work was performed by company forces or by contract. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Hocking Valley.

The Columbus and Toledo Railroad–Predecessor of The Columbus, Hocking Valley and Toledo Railway
Introductory

Although the agreement of consolidation of the property of this company became effective on August 20, 1881, the accounts of the company for the results of corporate operations continued to September 30, 1881, and other accounts were not closed until that date. The accounting data in this report, therefore, cover the period to September 30, 1881. The Columbus and Toledo Railroad Company was controlled on August 20, 1881, the date of consolidation, by a syndicate of Cleveland, Ohio, through ownership of a majority of its capital stock. On the other hand, the records reviewed do not indicate that it then controlled any other common-carrier corporation.

The property of this company was operated by its own organization from the date its property was placed in operation, January 10, 1877, to date of consolidation. The railroad operated by The Columbus and Toledo Railroad Company on the date of consolidation amounted to 118 miles, all owned. It consisted of a single-track, standard-gage, steam railroad, wholly within the State of Ohio and extending from Columbus to Walbridge, Ohio. The Columbus and Toledo Railroad Company used under trackage rights 5.5 miles of road of the Toledo and Woodville Railroad, which afforded it access to Toledo, Ohio.

Development of Fixed Physical Property

The entire 118 miles of road owned by The Columbus and Toledo Railroad Company on the date of consolidation had been acquired by construction. The construction work of The Columbus and Toledo Railroad Company was partly performed by Miller, Smiths & Company and Cochran, Brown & Company, contractors, and partly by company forces. The contractors do not appear to have been affiliated with the company. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property, in the report on the Hocking Valley.

The Dayton, Hocking Valley and Eastern Railway–Predecessor of the Hocking Valley
No accounting records of The Dayton, Hocking Valley and Eastern Railway Company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from its minute book and from the records of The Columbus, Hocking Valley and Toledo Railway Company and the Hocking Valley. The Dayton, Hocking Valley and Eastern Railway Company was controlled on March 21, 1900, the date of sale, by the Hocking Valley through ownership of its capital stock. On the other hand, the records reviewed do not indicate that it then controlled any other common-carrier corporation.

The Dayton, Hocking Valley and Eastern Railway Company owned on the date of sale a right of way in Athens County, Ohio, on which some construction work had been performed, but apparently none completed.

The Athens, Amesville & Chauncey Railway–Predecessor of the Hocking Valley
No accounting records of The Athens, Amesville & Chauncey Railway Company were obtained for the period from April 1, 1907, to July 6, 1909, the date its property was sold. Therefore, only partial information can be given from its accounts regarding its financial dealings, corporate operations, or investments. The accounting data in this report are those afforded by the records that cover the period from the date of its incorporation to March 31, 1907.

The Athens, Amesville & Chauncey Railway Company was controlled on the date of sale by the Continental Coal Company through ownership of its capital stock. On the other hand, the records reviewed do not indicate that it then controlled any other common-carrier corporation.

The Athens, Amesville & Chauncey Railway Company owned on the date of sale 5.99 miles of single-track, standard-gage, steam railroad extending from Hocking to Sunday Creek Mine, all in the State of Ohio. This property had been acquired by construction. It is not known whether the construction work was performed by forces of the company or by contract. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Hocking Valley. No data were obtained from the records reviewed regarding the manner of operation of the property of this company.