Wikipedia:WikiProject Trains/ICC valuations/New York Bay Railroad

Interstate Commerce Commission, Volume 22, Valuation Reports

The New York Bay Railroad
The railroad of The New York Bay Railroad Company, herein called the New York Bay Railroad, is located entirely within New Jersey and extends from Waverly to Greenville, with a branch line projecting from Waverly to a point east of Manhattan Transfer, aggregating 12.942 miles of road, of which 11.285 miles is double tracked. In addition, this company jointly owns with the Lehigh Valley Railroad Company the West Newark branch consisting of 0.041 mile of double track road which is used jointly by the Pennsylvania Railroad and the latter carrier.

Introductory
The New York Bay Railroad is a corporation of the State of New Jersey, having its principal office at Camden, N. J. Although a portion of the property of the New York Bay Railroad was opened for operation in 1890, it did not commence recording the results of the operations of its property in its books until January 1, 1896. Therefore, only partial information can be given from its accounts regarding its corporate operations.

The New York Bay Railroad is controlled by the Pennsylvania Railroad through ownership of the entire outstanding capital stock. On the other hand, the records do not indicate that this company controls any common-carrier corporation.

The property of the New York Bay Railroad was operated by the Pennsylvania Railroad on a rental basis from the date the first section was placed in operation, March 15, 1890, to July 1, 1908. From that date to December 31, 1917, it was used by the Pennsylvania Railroad under trackage right agreement. On January 1, 1918, the common-carrier property of the New York Bay Railroad was taken over for operation by the United States Railroad Administration as a part of the operating system of the Pennsylvania Railroad and it is so operated on date of valuation.

Corporate History
The New York Bay Railroad was incorporated under the general laws of the State of New Jersey through articles of consolidation, dated January 30, 1890, filed March 15, 1890, for the purpose of consolidating the property, rights, and franchises of The Waverly and New York Bay Railroad Company and The Waverly and Passaic Railroad Company, which was done. The two railroad corporations named comprise the line of corporate succession culminating in the New York Bay Railroad as at present constituted. The Waverly and New York Bay Railroad Company and The Waverly and Passaic Railroad Company were incorporated under the general laws of the State of New Jersey, February 8, 1889, and February 11, 1889, respectively.

Development of Fixed Physical Property
The owned mileage of the New York Bay Railroad, 12.942 miles, was all acquired partly by consolidation and partly by construction. The years when the various portions of the line were constructed are indicated in the following statement:

Construction:
 * The Central Railroad Company of New Jersey crossing to Greenville, N. J., 1901-1904. 4.46
 * Newark to Kearney Junction, N. J., February, 1900, to November, 1901. 0.24
 * Lister Branch, August, 1892, to July, 1893. 0.70
 * Newark Bay Branch, September, 1892. 0.16
 * Newark, N.J., May, 1916. 0.27

Constructed partly by the Waverly and New York Bay, 1889–1890, and completed by the New York Bay Railroad, Waverly, N. J., to the Central of New Jersey crossing, about September, 1890. 2.20 Constructed partly by the Waverly and Passaic, 1890, and completed by the New York Bay Railroad:
 * Waverly to Newark, N.J., completed about September, 1892. 4.12
 * West Newark, N.J., branch, completed February, 1892. 2.05
 * 14.20

Less mileage abandoned, revised or remeasured:
 * Abandoned. 0.86
 * Revision or remeasurement. 0.40
 * 1.26
 * Total. 12.94

Difference between recorded mileage and mileage inventoried. 0.002
 * Mileage inventoried as of date of valuation. 12.942

It is not known whether the construction work of the New York Bay Railroad was performed by company forces or by contract.

Leased Railway Property
The common-carrier property of the New York Bay Railroad was taken over for operation by the United States Railroad Administration on January 1, 1918, as part of the operating system of the Pennsylvania Railroad, and it is so operated on date of valuation. From July 1, 1908, to December 31, 1917, the Pennsylvania Railroad used under trackage rights the entire road of the New York Bay Railroad. Further details with respect to the operation of the property of the New York Bay Railroad are given under leased railway property in the report on the Pennsylvania Railroad.

The Waverly and New York Bay Railroad Company
This company was incorporated February 8, 1889, in New Jersey. It was controlled on March 15, 1890, the date of consolidation, by the Pennsylvania Railroad through ownership of the capital stock. The records reviewed do not indicate that this company then controlled any common-carrier corporation.

The company owned on date of consolidation a partially constructed railroad between Waverly, N. J., and The Central Railroad Company of New Jersey crossing, that was acquired by construction about 1890. It is not known whether the construction work was performed by company forces or by contract.

The Waverly and Passaic Railroad Company
This company was incorporated February 11, 1889, in New Jersey. It was controlled on March 15, 1890, the date of consolidation, by the Pennsylvania Railroad through ownership of its capital stock. The records reviewed do not indicate that this company then controlled any common-carrier corporation.

The company owned on date of consolidation a partially constructed railroad between Waverly and the Passaic River at Newark, N. J., and an uncompleted branch known as the West Newark Branch. This property was all acquired by construction in 1892. It is not known whether the construction work was performed by company forces or by contract.