Wikipedia:WikiProject Trains/ICC valuations/Ulster and Delaware Railroad

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Introduction
The Ulster & Delaware Railroad Company, hereinafter called the carrier, is a corporation of the State of New York. It owns and operates a single-track standard-gauge steam railroad extending from Kingston to Oneonta, with branches from Phoenicia to Kaaterskill and from Kaaterskill Junction to Hunter, a total of 128.884 miles of main track, all within the State of New York. It also owns 34.045 miles of yard tracks and sidings.

Corporate History
The carrier is a New York corporation and was incorporated under general laws on December 31, 1901, as a consolidation of five New York corporations. These corporations were Ulster & Delaware Railroad Company, The Stony Clove & Catskill Mountain Railroad Company, Kaaterskill Railroad Company, Hobart Branch Railroad Company, and The Delaware & Otsego Railroad Company. The principal office of the carrier is at Kingston. The carrier is controlled by the estate of S. D. Coykendall, through the ownership of a majority of its outstanding capital stock. Information respecting the development of the fixed physical property of the carrier is given in Appendix 2.

Development of Fixed Physical Property
As stated in the text, the carrier is the result of the consolidation of five corporations. These five corporations and the mileage of railroad acquired from them, all of which were located in New York, appear from the following:

Except that, during 1911-1914, the location of the part of road known as the Ashokan line, comprising 13.96 miles of the railroad acquired from the Ulster & Delaware Railroad Company was slightly changed as described below, the railroad that the carrier owned and was operating on date of valuation was as indicated above. The relocation, mentioned above, of the Ashokan line was effected under an agreement dated June 15, 1911, between the carrier and the city of New York.

Under this agreement the city agreed to pay the carrier $1,500,000 with which to build a new line in exchange for part of its then existing roadbed lying within the site which the city wanted to acquire for the purpose of constructing a reservoir for its water-supply system. This payment was also to compensate the carrier for removing the part of its line which was to be abandoned. The city, in addition, was to cede to the carrier, without further consideration, certain lands for the right of way of the new line, and the latter was to cede to the city, with out further consideration, the site of that portion of the old line which it was to abandon. The city further agreed to pay the carrier the sum of $1,300,000 for all loss, damage, and expense to it incident to or resulting from this change in the location of its line.

Leased Railway Property
The carrier uses minor facilities of others and others use certain of its minor facilities as follows:

The carrier uses jointly with the owner the passenger station of the West Shore Railroad Company at Kingston. The stipulated compensation is an annual rental of $240 and a share of the costs of operation and maintenance. The rental accrued for the year ended on valuation date was $240.

The carrier uses exclusively certain dock land on which it has its own tracks, located in Rondout and owned by the Delaware Valley and Kingston Railway Company. The stipulated compensation is an annual rental of $400.

The Delaware & Northern Railroad Company uses jointly the passenger station and tracks of the carrier at Arkville. The stipulated compensation is an annual rental of $100 and a share of operation and maintenance costs.

The Hudson River Day Line uses jointly the dock and passenger station of the carrier at Kingston Point. The stipulated compensation is an annual rental of $440.

The West Shore Railroad Company uses exclusively certain land of the carrier for a station site at Kingston. The annual rental is $1.

The Kingston Consolidated Railroad Company (electric) uses exclusively the flat and improved part of the recreation park of the carrier at Kingston Point. The annual rental is $1,001.