Wikipedia:WikiProject Trains/ICC valuations/Sussex Railroad

Interstate Commerce Commission, Valuation Reports, Volume 39

Location and General Description of Property
The railroad of The Sussex Railroad Company, herein called the Sussex Railroad, is a single-track, standard-gage, steam railroad, located in northern New Jersey. The main line extends northerly from Netcong to Franklin, 24.287 miles, with a branch line projecting from Branchville Junction to Branchville aggregating 30.633 miles of main track. The company also owns 9.308 miles of yard tracks and sidings. Its road thus embraces 39.941 miles of all tracks owned and used.

The Sussex Railroad is controlled by The Morris and Essex Railroad Company, a leased line of The Delaware, Lackawanna and Western Railroad Company, and its railroad comprises an important branch line of the last-named carrier's system.

Physical Conditions Affecting Construction
The country traversed by this road varies from swampy in the south to quite rolling in the north. The line passes through a sparsely settled region, the largest towns being Newton and Franklin, each having about 4,000 inhabitants. The soil is mostly sand with some clay, overlying boulders, slate, sandstone, and limestone.

Economic Conditions Relating to Traffic
The principal products of this locality are those of factories in connection with the zinc mines in the vicinity of Franklin.

Introductory
The Sussex Railroad is a corporation of the State of New Jersey, having its principal office at Hoboken, N. J. While the present name of the company is that shown above, it was originally incorporated as The Sussex Mine Railroad Company, which was later changed to the present name. The accounting records of the Sussex Railroad were not obtained for the period from the date of its organization, to December 1, 1857. Therefore, only partial information can be given from the accounting records regarding its financial dealings, corporate operations, or investments. The accounting data in this report were obtained from records that cover the period from December 1, 1857, to date of valuation.

The Sussex Railroad is controlled by The Morris and Essex Railroad Company through ownership of a majority of its outstanding capital stock. On the other hand, the records do not indicate that this company controls any common-carrier corporation.

The property of the Sussex Railroad was operated by its own organization from the date of its completion, August, 1851, to December 31, 1917. On January 1, 1918, its common-carrier property was taken over for operation by the United States Railroad Administration, which still operated it on date of valuation.

Corporate History
The Sussex Railroad was incorporated March 9, 1848, by a special act of the State of New Jersey as The Sussex Mine Railroad Company. This name was changed to the present name February 5, 1853, by a special act of the State of New Jersey. The date of its organization was January 9, 1850.

Development of Fixed Physical Property
The mileage owned by the Sussex Railroad, 30.633, was all acquired by construction. The years when the various portions of the line were constructed are indicated in the following statement:

In the construction of the road built for the Sussex Railroad, the line extending from Waterloo to Andover Mines, and the subsequent reconstruction and extension to Newton, were constructed under contracts by Cooper and Hewitt. Subsequent construction work was performed under contract by the Lackawanna Iron and Coal Company.

Leased Railway Property
The Sussex Railroad used on December 31, 1917, facilities owned by other companies and other companies used facilities owned by the Sussex Railroad to the extent indicated in the statement below. The description of the property, the period and terms of use, and the rentals accrued and charged or credited to income for the year ended December 31, 1917, are as follows:

Solely owned, but jointly used, used with—
 * New York, Susquehanna and Western Railroad Company, 1.06 miles of track at Franklin Furnace, N. J.; annual payment 524/1,000 of a cent per ton and one-half the cost of operation and maintenance of yards and terminals at Franklin, N.J. ---
 * The Lehigh and Hudson River Railway Company, 7.66 miles of track between Andover Junction and Netcong, N. J.; term five years from Oct. 23, 1906; annual payment 5 per cent of valuation of the property and a proportion of the cost of operation and maintenance based upon the number of trains handled. ---
 * Rentals received for the above facilities. $2,932.20