Wikipedia:WikiProject Trains/ICC valuations/Port Reading Railroad

Interstate Commerce Commission of the United States, Valuation Reports, Volume 36

Location and General Description of Property
The railroad of The Port Heading Railroad Company, herein called the Port Reading Railroad, is a standard-gage, steam railroad, located in the eastern part of New Jersey. Its owned mileage extends easterly from Manville to Port Reading, with a branch line extending from Woodbridge Junction southerly 1.5 miles, a total of 21.145 miles of first main track. The Port Reading Railroad also owns and uses 0.906 mile of second main track and 52.618 miles of yard tracks and sidings. Its road thus embraces 74.669 miles of all tracks.

Economic Conditions Relating to Traffic
The principal products of the region are those of the factory.

Physical Characteristics of Road
On about one-third of the road the grading is medium. On the remainder it is very heavy, the average per mile over the entire line being 94,000 cubic yards. Considerable wet excavation was encountered. Some of the embankment was made from train-hauled borrow and from material dredged from slips at Port Reading Railroad. The main line is laid principally with 90-pound relay rail. The ballast is almost entirely cinders.

Introductory
The Port Reading Railroad is a corporation of the State of New Jersey, having its principal office at Philadelphia, Pa. The Port Reading Railroad is controlled by the Reading Company through ownership of the entire outstanding capital stock. The Port Reading Railroad operates its road as a part of the Philadelphia and Reading Railway Company's system, and uses in common with other roads of that system equipment owned by the Reading Company.

Corporate History
The Port Reading Railroad was incorporated November 5, 1890, under the general laws of the State of New Jersey. Its organization was perfected November 7, 1890.

Development of Fixed Physical Property
The owned mileage of the Port Reading, 21.145 miles, had been acquired by construction as follows:

The Port Reading Construction Company, which built the main line of the Port Reading Railroad, was organized by Interests identified with The Philadelphia and Reading Railroad Company and its president was a former official of the latter company.

Leased Railway Property
The Port Reading Railroad uses, in common with the other roads of the Philadelphia and Reading Railway System, equipment which is owned by the Reading Company and leased to the Philadelphia and Reading. The records examined indicate that no equipment is permanently assigned to the Port Reading Railroad, but the Philadelphia and Reading furnishes equipment as needed and assesses charges therefor under the rules of the American Railway Association. The amount payable by the Port Reading Railroad for the use of equipment is included in the income accounts for hire of equipment.