Wikipedia:WikiProject Trains/ICC valuations/Lehigh Valley Railroad of New Jersey

Interstate Commerce Commission, Valuation Reports, Volume 34

Location and General Description of Property
The railroad of the Lehigh Valley Railroad Company of New Jersey, herein called the Lehigh Valley of New Jersey, is a double-track line extending in a westerly direction from Jersey City to Phillipsburg, N. J., with a double track branch from Perth Amboy to South Plainfield, N. J., and numerous single-track branches to near-by industrial and residential localities, embracing in all 123.190 miles of wholly owned road and 0.041 mile, undivided, of jointly owned road.

Introductory
The Lehigh Valley of New Jersey is a corporation of the State of New Jersey having its principal office at Jersey City, N. J. It is controlled by the Lehigh Valley through ownership of the entire outstanding capital stock. On the other hand, the records do not indicate that this company controls any common-carrier corporations. The property of the Lehigh Valley of New Jersey has always been operated by the Lehigh Valley.

Development of Fixed Physical Property
The road owned by the Lehigh Valley of New Jersey, amounting to 123.190 miles wholly owned and 0.041 undivided mile jointly owned, was acquired by construction, consolidation, and merger.

Of the 23 corporations which comprise the line of succession culminating in the Lehigh Valley of New Jersey as at present constituted, five corporations did not participate in the construction of any part of the road mileage owned by the Lehigh Valley of New Jersey on date of valuation. These five corporations were: The last two companies mentioned above owned some railroad property at date of demise, but the records reviewed do not reveal the extent or the character of the same.
 * Lehigh Valley Terminal Railway Company
 * Perth Amboy and Bound Brook Railroad Company
 * Bound Brook and Easton Railroad Company
 * Jersey City and Western Railway Company
 * Bay Creek Railway Company

The data with respect to the miles of road constructed by the 18 remaining corporations, the years in which the various portions of the line were constructed, and the manner in which the Lehigh Valley of New Jersey acquired the property are indicated in the following table, wherein, to facilitate comparison with the table showing corporate succession, previously given, the same order of corporations is maintained.

Leased Railway Property
Effective July 1, 1914, the Lehigh Valley leased the property of the Lehigh Valley of New Jersey for 999 years, and agreed to pay as rental the interest on the outstanding funded debt of the Lehigh Valley of New Jersey. The rental paid for the year ending on date of valuation amounts to $800,000, which represents 5 per cent interest on $10,000,000 par value of bonds issued by the Lehigh Valley of New Jersey and $6,000,000 par value of bonds issued by the Easton and Amboy Railroad Company and assumed by the Lehigh Valley of New Jersey. No interest was accrued on the remainder of the outstanding funded debt of the Lehigh Valley of New Jersey, which is owned by the Lehigh Valley.

Lehigh Valley Terminal Railway
The Lehigh Valley Terminal Railway Company was incorporated on August 28, 1891, under the laws of New Jersey. On July 29, 1903, the company, with five other railroad companies, was consolidated to form the Lehigh Valley of New Jersey. At date of its demise, the company owned about 27.86 miles of road located in New Jersey. The main line, about 21.93 miles in length, extended from South Plainfield to Newark, with several branch lines aggregating 5.93 miles. The property was acquired on August 28, 1891, by the consolidation of seven other railroad companies as follows:

Roselle and South Plainfield Railway
The Roselle and South Plainfield Railway Company was incorporated on November 30, 1885, under the laws of New Jersey. On August 28, 1891, this company, with six other railroad companies, was consolidated to form the Lehigh Valley Terminal Railway Company. At date of its demise the company owned about 11 miles of railroad situated in New Jersey. The main line, about 8.56 miles in length, extended from South Plainfield to Roselle, with two branches aggregating 2.44 miles. The road was constructed during the years 1888 and 1889 under the supervision of the Lehigh Valley, with funds advanced by it.

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During its operating existence the company's property was operated by the Lehigh Valley. The results of such operations are not included in the accounting records of the company.

Jersey City Terminal Railway
The Jersey City Terminal Railway Company was incorporated on July 23, 1888, under the laws of New Jersey. On August 28, 1891, this company, with six other railroad companies, was consolidated to form the Lehigh Valley Terminal Railway Company. At date of its demise the company owned about 1.30 miles of railroad located in Jersey City, N. J. The road was constructed during the year 1889 under the supervision of the Lehigh Valley, with funds advanced by it.

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During its operating existence the company's property was operated by the Lehigh Valley. The results of such operations are not included in the accounts of the company.

Newark Railway
The Newark Railway Company was incorporated on December 10, 1890, under the laws of New Jersey. On August 28, 1891, this company, with six other railroad companies, was consolidated to form the Lehigh Valley Terminal Railway Company. At date of its demise the company owned 0.52 mile of railroad located in Newark, N. J. The road was constructed in 1891, under the super vision of the Lehigh Valley, with funds advanced by it.

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During its operating existence the company's property was operated by the Lehigh Valley. The results of such operations are not included in the accounting records of the company.

Newark and Roselle Railway
The Newark and Roselle Railway Company was incorporated on August 28, 1889, under the laws of New Jersey. On August 28, 1891, this company was consolidated with six other railroad companies to form the Lehigh Valley Terminal Railway Company. On the date of its demise the company owned about seven miles of railroad, extending from Newark to Roselle, N. J. The road was constructed in 1891 under the supervision of the Lehigh Valley, which advanced the construction funds.

Newark and Passaic Railway
The Newark and Passaic Railway Company was incorporated on November 22, 1889, under the laws of New Jersey. On August 28, 1891, this company was consolidated with six other railroad companies to form the Lehigh Valley Terminal Railway Company. At date of its demise the company owned about 1.04 miles of railroad located in Newark, N. J. The road was constructed in 1890 under the supervision of the Lehigh Valley, which advanced the construction funds.

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During its operating existence the company's property was operated by the Lehigh Valley. The results of such operation are not recorded by the company.

Jersey City, Newark and Western Railway
The Jersey City, Newark and Western Railway Company was incorporated on July 6, 1889, under the laws of New Jersey. On August 28, 1891, this company was consolidated with six other railroad companies to form the Lehigh Valley Terminal Railway Company. At date of its demise the company owned about 5.85 miles of railroad, extending from Newark Bay to Newark, N. J. The road was constructed in 1891 under the supervision of the Lehigh Valley, which advanced the funds for construction.

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During its operating existence, the property of the company was operated by the Lehigh Valley and the results of such operations are not included in the accounting records of the company.

Edgewater Railway
The Edgewater Railway Company was incorporated on January 27, 1890, under the laws of New Jersey. On August 28, 1891, this company was consolidated with six other railroad companies to form the Lehigh Valley Terminal Railway Company. At date of its demise the company owned about 1.15 miles of railroad located in Jersey City, N. J. The road was constructed under the supervision of the Lehigh Valley, which advanced the funds for construction.

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The corporate history of the Lehigh Valley, as reported, states there were no operations during the time the property was owned by the company.

Greenville and Hudson Railway
The Greenville and Hudson Railway Company was incorporated on October 31, 1895, under the laws of New Jersey. On July 29, 1903, this company was consolidated with five other railroad companies to form the Lehigh Valley of New Jersey. At date of its demise the company owned about 2.36 miles of railroad located in Jersey City, N. J. The property was constructed in 1899, under the supervision of the Lehigh Valley, which advanced the funds for construction.

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During its operating existence the property of the company was operated by the Lehigh Valley. The results of such operations are not recorded in the accounts of the company.

Middlesex Railway
The Middlesex Railway Company was incorporated on November 30, 1886, under the laws of New Jersey. On July 29, 1903, this company was consolidated with five other railway companies to form the Lehigh Valley of New Jersey. At date of its demise the company owned 0.34 mile of railroad located in Perth Amboy, N. J. The property was constructed in 1886, under the supervision of the Lehigh Valley, which advanced the funds for construction.

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During its operating existence the property of the company was operated by the Lehigh Valley. The results of such operations are not recorded in the accounts of the company. The company owned no equipment. The recorded investment in road at date of its demise amounted to $4,253.57 of money outlay.

Perth Amboy and Raritan Railway
The Perth Amboy and Raritan Railway Company was incorporated on June 24, 1890, under the laws of New Jersey. On July 29, 1903, this company was consolidated with five other companies to form the Lehigh Valley of New Jersey. At date of its demise, the company owned 6.13 miles of railroad extending from Raritan Junction to Woodbridge, N. J. About 5.77 miles was constructed in 1891 and 1892 and about 0.36 mile in 1894, under the supervision of the Lehigh Valley, which advanced the funds for construction.

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During its operating existence the property of the company was operated by the Lehigh Valley. The results of such operations were not recorded in the accounts of the company. The company owned no equipment. The recorded investment in road account at date of its demise amounted to $72,227.12, stated as money outlay.

Pittstown Branch Railway
The Pittstown Branch Railway Company was incorporated on March 6, 1890, under the laws of New Jersey. On July 29, 1903, this company was consolidated with five other railway companies to form the Lehigh Valley of New Jersey. At date of its demise the company owned about 4 miles of railroad, extending from Landsdown to Pittstown, N. J. The property was constructed about 1890, under the supervision of the Lehigh Valley, which advanced the funds for construction.

Easton and Amboy Railroad
The Easton and Amboy Railroad Company was incorporated on April 2, 1872, by special act of New Jersey. It was formed by the consolidation of the Perth Amboy and Bound Brook Railroad Company and the Bound Brook and Easton Railroad Company. The consolidation became effective on April 16, 1872, by certificate filed in the office of the secretary of state of New Jersey. On July 29, 1903, this company was consolidated with five other railroad companies to form the Lehigh Valley of New Jersey. At date of its demise the company owned about 68.45 miles of railroad located in New Jersey. The main line, about 60.15 miles in length, extended from Perth Amboy to Phillipsburg, with several small branches aggregating about 8.30 miles. The road was acquired by construction. The main line was completed in 1875 and the branches were built at different times between 1875 and 1890.

Perth Amboy and Bound Brook Railroad
The Perth Amboy and Bound Brook Railroad Company was incorporated on March 11, 1858, by special act of New Jersey, and organized on July 23, 1870. As of April 16, 1872, this company and the Bound Brook and Easton Railroad Company were consolidated to form the Easton and Amboy Railroad Company The company owned no physical property. Capital stock amounting to $400,000 was subscribed to and $20,000 cash paid in. Of the amount paid in, $10,000 is recorded as having been expended for organization expenses. The Easton and Amboy Railroad Company assumed the stock liability of the company.

Bound Brook and Easton Railroad
The Bound Brook and Easton Railroad Company was incorporated on March 1, 1872, by special act of New Jersey. As of April 16, 1872, this company and the Perth Amboy and Bound Brook Railroad Company were consolidated to form the Easton and Amboy Railroad Company. The company owned no physical property. Capital stock amounting to $1,106,000 was subscribed to, and $55,300 cash paid in. The Easton and Amboy Railroad Company assumed the stock liability of the company.

National Docks Railway (1891)
The National Docks Railway Company (of 1891) was incorporated on August 27, 1891, under the laws of New Jersey. On April 7, 1905, the company was merged with the Lehigh Valley of New Jersey. At date of its demise the company owned about 8.10 miles of railroad located in and adjacent to Jersey City. The property was acquired by consolidation, merger, and construction. The names of companies consolidated or merged, the dates acquired, and road mileage are as follows: In its corporate history return, the Lehigh Valley states "No record of construction of any extent being done" with reference to the Jersey City and Western Railway Company or the Bay Creek Railway Company.

The National Docks Railway (of 1879) — Predecessor of the National Docks Railway (1891)
The National Docks Railway Company (of 1879) was incorporated on July 9, 1879, under the general laws of New Jersey. On August 27, 1891, this company was consolidated with two other railroad companies to form the National Docks Railway Company (of 1891). At date of its demise, the company owned 2.08 miles of railroad located in Jersey City, N. J. The property was constructed in the years 1881 and 1882, under the supervision of the National Storage Company, which furnished the funds for construction.

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The property of the company was operated from December 1, 1883, to April 28, 1888, by the Pennsylvania Railroad Company, and from March 1, 1888, to February 28, 1894, it was apparently operated jointly by the Lehigh Valley and the National Storage Company.

Jersey City and Western Railway — Predecessor of the National Docks Railway (1891)
The Jersey City and Western Railway Company was incorporated on January 28, 1889, under the laws of New Jersey. On August 27, 1891, this company was consolidated with two other railway companies to form the National Docks Railway Company (of 1891). No accounting records of the company have been obtained. The National Docks Railway Company charged its investment account with $532,319.53 par value of nonnegotiable debt to affiliated companies as the cost to acquire the property of the company, but there is no record of what said property consisted of.

The Bergen Neck Railway — Predecessor of the National Docks Railway (1891)
The Bergen Neck Railway Company was incorporated on July 20, 1885, under the laws of New Jersey. On August 27, 1891, this company was consolidated with two other railway companies to form the National Docks Railway Company (of 1891). At date of its demise the company owned about 4.35 miles of railroad, extending from Communipaw Junction to Branch No. 6, in New Jersey. The property was constructed about 1892, under the supervision of the National Storage Company, which provided the funds for construction. The company issued $500,000 par value of capital stock and $875,990.21 of nonnegotiable debt. All of the capital stock issued and $375,022.16 of the nonnegotiable debt were outstanding at date of its demise.

Bay Creek Railway — Predecessor of the National Docks Railway (1891)
The Bay Creek Railway Company was incorporated on May 15, 1894, under the laws of New Jersey. On January 24, 1898, the company was merged with the National Docks Railway Company (of 1891). At date of its demise the company had acquired some railroad property in Bayonne, N. J. The construction was performed under the supervision of the Lehigh Valley, which provided the necessary funds. The extent of the construction in question is not of record.

Kill Von Kull Railway — Predecessor of the National Docks Railway (1891)
The Kill Von Kull Railway Company was incorporated on July 20, 1885, under the laws of New Jersey. On January 24, 1898, the company was merged with the National Docks Railway Company (of 1891). At date of its demise the company owned about 0.46 mile of railroad in Jersey City, N. J. The property was constructed about 1892 under the supervision of the National Storage Company, which advanced the funds for construction.

National Docks and New Jersey Junction Connecting Railway — Predecessor of the National Docks Railway (1891)
The National Docks and New Jersey Junction Connecting Railway Company was incorporated on December 10, 1888, under the laws of New Jersey. On January 24, 1898, the company was merged with the National Docks Railway Company (of 1891). At date of its demise the company owned about 0.48 mile of railroad, extending from New Jersey Junction to Sterling Junction, N. J. The property was constructed in 1897, under the supervision of the National Storage Company, which advanced the funds for construction.

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During its operating existence the property of the company was operated by the National Docks Railway Company (of 1891). The results of such operations are not recorded in the records of the company. The company owned no equipment. The recorded investment in road at date of its demise amounted to $823,726.19, which represents $767,852.07 of money outlay and $55,874.12 of interest on advances.

Irvington Railroad
Irvington Railroad Company was incorporated on September 29, 1904, under the general laws of New Jersey. On June 29, 1906, the company was merged with the Lehigh Valley of New Jersey. At date of its demise the company owned about 2.91 miles of railroad, extending from West Elizabeth to Irvington, N. J., acquired by construction in 1905.

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The property of the company was operated by the Lehigh Valley but the results of such operations are not recorded in the company's accounts. The company owned no equipment. The recorded investment in road at date of its demise amounted to $250,000. This amount represented $255,089.20 of money outlay, less $5,089.20 of nonnegotiable debt canceled by the Lehigh Valley.