Wikipedia:WikiProject Trains/ICC valuations/New York, Susquehanna and Western Railroad

Interstate Commerce Commission, Valuation Reports, Volume 33

Location and General Description of Property
The railroad operated by the New York, Susquehanna and Western Railroad Company, herein called the New York, Susquehanna and Western, is a standard-gage steam railroad, located in New Jersey and Pennsylvania. The railroad is single track, with the exception of 17.823 miles in New Jersey, which is double tracked. The New York, Susquehanna and Western is a part of the Erie Railroad Company system, its line forming a portion of a through route from New York, N. Y., to Wilkes-Barre, Pa.

The owned and used mileage consists of a main line extending northwesterly from Jersey City, N. J., to Stroudsburg, Pa., 99.766 miles, and important branch lines extending from Beaver Lake, N. J., to the New Jersey-New York State line; Little Ferry Junction to Undercliff, N. J.; and Delaware Junction to Delaware, N. J. The mileage used under lease consists of branch lines in the vicinity of Paterson, N. J. The principal cities served by this road are Jersey City, Undercliff, Passaic, Paterson, and Hackensack, N. J., and Stroudsburg, Pa.

The New York, Susquehanna and Western wholly owns and uses 125.808 miles of road, and in addition wholly owns but does not use 10.239 miles of road consisting of detached lines near Scranton, Pa., which are leased to and operated by The Wilkes-Barre and Eastern Railroad Company. It wholly uses but does not own 7.986 miles of road owned by other carriers, of which 1.576 miles between Edgewater and Undercliff, N. J., is a portion of the property of the Erie Terminals Railroad Company. The remaining leased mileage is owned by four lessors whose entire common-carrier properties it leases and operates, as described in the paragraphs below.

The New York, Susquehanna and Western wholly owns and uses 239.518 miles of all tracks, wholly owns but does not use 12.412 miles of all tracks, and wholly uses but does not own 15.280 miles of all tracks. These tracks are classified in the trackage table in Appendix 1. The company also jointly owns and uses with another carrier 0.059 undivided mile of all tracks.

Introductory
The New York, Susquehanna and Western is a corporation of the States of New Jersey and Pennsylvania, having its principal office at Jersey City, N. J. Although the New York, Susquehanna and Western acquired title to its property on April 25, 1893, it did not commence recording the results of the operations of its property in its books until May 1, 1893. The accounting data in this report, therefore, cover the period from May 1, 1893.

The New York, Susquehanna and Western is controlled by the Erie Railroad Company through ownership of a majority of its outstanding capital stock. The New York, Susquehanna and Western controls, through ownership of their entire outstanding capital stock, the following named companies, whose several common-carrier properties were operated by the New York, Susquehanna and Western when its property was taken over for operation by the United States Railroad Administration, as stated hereinafter: Hackensack and Lodi, Lodi Branch Railroad, Macopin Railroad, and Passaic and New York.

It controls, further, through ownership of their entire outstanding capital stock, The Wilkes-Barre and Eastern Railroad Company and the Susquehanna Connecting Railroad Company, whose properties are separately operated and for which companies a separate report has been made.

It controls jointly with the Erie Railroad Company, through ownership of approximately 12 per cent of its capital stock, the Erie Terminals Railroad Company, whose entire property is leased to this company and the Erie Railroad Company and for which company a separate report has been made.

The property of the New York, Susquehanna and Western was operated by its own organization from May 1, 1893, to December 31, 1917, except several branches that have been operated by the Wilkes-Barre and Eastern under lease from the Susquehanna Connecting Railroad Company, from February 26, 1897, to December 31, 1917. On January 1, 1918, the common-carrier property of the company was taken over for operation by the United States Railroad Administration, which operates it on date of valuation.

Corporate History
The New York, Susquehanna and Western was incorporated under the general laws of New Jersey and Pennsylvania, through filing with the secretaries of State, of New Jersey on April 25, 1893, and of Pennsylvania on April 26, 1893, an agreement dated April 5, 1893, for the purpose of consolidating and merging the property, rights, and franchises of the New York, Susquehanna and Western Railroad Company (first corporation) and The Hudson River Railroad and Terminal Company. The date of organization was April 29, 1893.

Pursuant to the above purpose, the New York, Susquehanna and Western acquired at its organization the property, rights, and franchises of the two railroad corporations named. The New York, Susquehanna and Western, itself, and those corporations, together with their predecessors, total 14 different corporations, and comprise the line of corporate succession culminating in the New York, Susquehanna and Western 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 the respective number shown in the first column.

Development of Fixed Physical Property
The owned mileage of the New York, Susquehanna and Western, amounting to 136.047 miles, was acquired by it as indicated hereunder. Of the 13 corporations that comprise the line of succession culminating in the New York, Susquehanna and Western as at present constituted, six corporations did not construct any road, or other common-carrier property. These companies were the Sussex Valley Railroad Company, The Water Gap Railroad Company, The North Jersey Railroad Company, The Paterson Extension Railroad Company, The Midland Connecting Railway Company, and The Pennsylvania Midland Railway Company.

The property constructed by the remaining corporations and by the New York, Susquehanna and Western itself, the years when the various portions of the line were constructed, and the manner in which the New York, Susquehanna and Western 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 property of the New York, Susquehanna and Western, together with the property of others that it leases, devoted to common-carrier purposes, was taken over for operation by the United States Railroad Administration on January 1, 1918, and is so operated on date of valuation. The arrangements of the New York, Susquehanna and Western with other carriers, in effect December 31, 1917, covering the use of joint facilities, with one exception noted hereinafter, have been continued by the United States Railroad Administration during the period January 1, 1918, to date of valuation. 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 December 31, 1917, are as follows: There are other facilities of minor importance, such as stations, interlockers, yard tracks, and sidings, in which the New York, Susquehanna and Western grants or receives joint use, that are not listed in this chapter.

During the period January 1, 1918, to date of valuation the New York, Susquehanna and Western has accrued rentals as due from the United States Railroad Administration for the use of its road amounting to $410,197.08.

Lessor Companies

 * Hackensack and Lodi
 * Lodi Branch Railroad
 * Macopin Railroad
 * Passaic and New York

Predecessor Companies

 * THE NORTH JERSEY RAILROAD COMPANY—PREDECESSOR OF THE NEW YORK, SUSQUEHANNA AND WESTERN RAILROAD COMPANY (FIRST CORPORATION)

was controlled by any individual or corporation on June 17, 1881,

No accounting records of
 * THE MIDLAND CONNECTING RAILWAY COMPANY—PREDECESSOR OF THE NEW YORK, SUSQUEHANNA AND WESTERN RAILROAD COMPANY (FIRST CORPORATION)

or corporation on June 17, 1881, the date of its consolidation,

Company of New Jersey and the New York, Susquehanna and Western (first corporation)