Wikipedia:WikiProject Trains/ICC valuations/Schuylkill River East Side Railroad

Interstate Commerce Commission, Valuation Reports, Volume 42

Location and General Description of Property
The railroad of The Schuylkill River East Side Railroad Company, hereinafter called the Schuylkill River East Side, is located entirely within the State of Pennsylvania and extends from Park Junction, through Philadelphia, to Eastwick, a distance of 3.776 miles, with branches projecting from Gray's Ferry Tunnel to Reed Street, Philadelphia, and at South Philadelphia. This property which forms a part of the principal main line to Chicago has 10.713 miles of road with 8.092 miles of second, 1.237 miles of third, and 0.285 mile of fourth main tracks. In addition to property leased to the Baltimore and Ohio, this company owns certain piers along the Delaware River with freight and warehouse facilities thereon which are leased to the Merchants and Miners Transportation Company.

Introductory
The Schuylkill River East Side is a corporation of the State of Pennsylvania, having its principal office at Philadelphia, Pa. The available accounting records which were established March 31, 1904, contain details of the company's transactions from its beginning. This data has been supplemented by information obtained from the accounting records of the Baltimore and Ohio. The company is controlled by the Baltimore and Ohio through ownership of capital stock. The records do not indicate that this company, itself, controls any other common-carrier corporation.

The property was operated by the Baltimore and Ohio from date of completion to December 31, 1917. Since January 1, 1918, it has been operated by the United States Railroad Administration as part of the Baltimore and Ohio system.

Corporate History
The Schuylkill River East Side was incorporated May 21, 1886, under the general laws of Pennsylvania, through an agreement of consolidation dated May 19, 1886, filed May 21, 1886, for the purpose of acquiring the property, rights, and franchises of The Schuylkill River East Side Railroad Company (of 1883), incorporated under the general laws of Pennsylvania, July 16, 1883, and the Philadelphia, Newtown Square and Chester Railroad Company, incorporated under the general laws of Pennsylvania, March 23, 1886. It was organized June 3, 1886.

Development of Fixed Physical Property
The owned mileage, 10.713 miles, was acquired principally by construction. The Schuylkill River East Side Railroad Company (of 1883) began the construction of a railroad through the city of Philadelphia, to connect the road of the Baltimore and Philadelphia with that of the Philadelphia and Reading Railroad Company, about April 1, 1885, but that work was not completed at the date of consolidation. The road was finished by the Schuylkill River East Side, December 7, 1886, and upon that date opened for operation by the Baltimore and Ohio as lessee. The Philadelphia, Newtown Square and Chester Railroad Company had the right to build a railroad from a point of connection with the Baltimore and Philadelphia to West Chester, Pa., about 25 miles, but no part of the road authorized was built. A document filed in the general accounting office of the Baltimore and Ohio states the purpose of the acquisition of the rights and franchises of this company to have been to secure its rights to issue securities as, under the laws of Pennsylvania, such securities were limited by the length of the road built or proposed to be built.

Leased Railway Property
The entire property is leased to the Baltimore and Ohio as stated in the report on that company.

Philadelphia, Newton Square and Chester Railroad
This company was incorporated under the general laws of Pennsylvania, April 4, 1868. The accounting records of the company were not obtained. However, certain data indicated below were obtained from its minute books and from the accounting records of its successor.

The records reviewed indicated that the company was controlled on date of consolidation by the Baltimore and Ohio but that it did not control any common-carrier corporation. The company had the right to build a railroad about 25 miles in length, from a point of connection with the Baltimore and Philadelphia, near Philadelphia, to West Chester, Pa. It is not shown that the company did more than achieve the status of a corporation.

The Schuylkill River East Side Railroad (of 1883)
This company was incorporated under the general laws of Pennsylvania, July 16, 1883. The accounting records of the company were not obtained. However, certain data indicated below were obtained from its minute books and the records of its successor. The records reviewed indicated that the company was controlled by the Baltimore and Ohio, but that it did not control any common-carrier corporation.

This company had the right to build a railroad within the city of Philadelphia, Pa., about 3 miles in length, intended to connect the Baltimore and Philadelphia and the Philadelphia and Reading Railroad. It acquired real estate and incurred engineering and other preliminary expenses but did not complete its road.