Wikipedia:WikiProject Trains/ICC valuations/Ohio River and Western Railway

Interstate Commerce Commission, Volume 121, Valuation Reports

Location and General Description of Property
The railroad of The Ohio River and Western Railway Company, hereinafter called the carrier, is a single-track narrow-gauge steam railroad, located in the eastern part of Ohio. The owned mileage extends in a westerly direction from Bellaire to Mill Run, a distance of 110.516 miles. There is about 15 miles of third rail for standard-gauge equipment. The carrier also owns and uses 13.129 miles of yard tracks and sidings. Its road thus embraces 123.645 miles of all tracks.

Economic Conditions Relating to Traffic
The principal products of the region are those of farm and mines. In the Zanesville region the manufacture of drainage tile and other rough products of clay is an important industry.

Physical Characteristics of Road
Grading. —The grading averages about 13,980 cubic yards to the mile. Tunnels. —There are three tunnels on the line aggregating 793 feet in length. Rail. —The rail varies from 35 to 85 pounds per yard.

Introductory
The carrier is a corporation of the State of Ohio, having its principal office at Zanesville, Ohio. The accounting records of the carrier cover only the period from March 1, 1906, when new books were opened. The records for the period prior to that date are so incomplete that no information can be given from them concerning the financial dealings, corporate operations, or investments for that period. The accounting data in this report are those obtained from the records that cover the period from March 1, 1906, to date of valuation. The carrier is controlled by the Pennsylvania Company through ownership of a majority of its outstanding capital stock. On the other hand, the records do not indicate that it controls any other carrier corporation. The property of the carrier has been operated during its corporate life as indicated below:


 * 1 Valuation date.

Corporate History
The carrier was incorporated February 27, 1882, under the general laws of the State of Ohio, for the purpose of consolidating the property, rights, and franchises of the Bellaire and South Western Railway Company and The Zanesville and South Eastern Railway Company. The date of organization of the carrier was February 28, 1882.

Pursuant to the above purpose, the carrier acquired at its organization the property, rights, and franchises of the two railroad corporations named. The carrier, itself, and those corporations total three different corporations, of which one underwent a change in 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 110.516 miles, was acquired partly by construction, partly by consolidation, and partly by purchase. Of the two corporations that comprise the line of succession culminating in the carrier as at present constituted, one corporation, The Zanesville and South Eastern Railway Company, did not construct any road or other common-carrier property. The property constructed by the carrier and the remaining corporations, 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.

The records reviewed do not indicate whether the construction work performed for the carrier was done under contract or by its forces.

Leased Railway Property
The carrier jointly uses on date of valuation facilities owned by another company and another company jointly uses facilities owned by the carrier to the extent indicated below. The description of the property, the terms of use, and the rentals accrued and charged or credited to income for the year ending on date of valuation, are as follows:

Solely owned, but jointly used, used with Pennsylvania Company, tracks, 2.30 miles, from Gravel Junction to Mapleton, Ohio, for indefinite period from July 1, 1913, annual rental, 9 cents per ton on coal handled over tracks, with minimum rental of $5,000. $16,321.09

Jointly used, but not owned, owned by The Baltimore and Ohio Railroad Company, tracks, 1.40 miles, from near Mill Run to Zanesville, Ohio; for indefinite period from Aug. 27, 1884; rental, $1,631.90 per annum. 1,631.90

The Zanesville and South Eastern Railway Company
The accounting records of The Zanesville and South Eastern Railway Company were so incomplete that nothing can be stated therefrom regarding its financial dealings, corporate operations, or investments. The records reviewed did not indicate whether The Zanesville and South Eastern Railway Company was controlled by any individual or corporation on February 27, 18S2, the date of its demise, nor, on the other hand, whether it controlled any common-carrier corporation. The Zanesville and South Eastern Railway Company did not construct any railroad or other common-carrier property.

Bellaire and South Western Railway Company
The accounting records of the Bellaire and South Western Railway Company were so incomplete that nothing can be stated therefrom regarding its financial dealings, corporate operations, or investments. The records reviewed did net indicate whether the Bellaire and South Western Railway Company was controlled by any individual or corporation on February 27, 1882, the date of its demise, nor, on the other hand, whether it controlled any common-carrier corporation. The property of the company was operated by its own organization from the date of acquirement thereof to the date of demise.

The Bellaire and South Western Railway Company owned on the date of its demise approximately 42 miles of railroad, extending from Bellaire to Woodsfield, Ohio. This property was all acquired by construction. The records reviewed do not indicate 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 section on development of fixed physical property in the report on the carrier.