Wikipedia:WikiProject Trains/ICC valuations/West Jersey and Seashore Railroad

Interstate Commerce Commission, Valuation Reports, Volume 22

Location and General Description of Property
The railroad of West Jersey and Seashore Railroad Company, hereinafter called the West Jersey and Seashore, is a partly double-track, steam and electric railroad located in the southern part of New Jersey. The more important main lines of the West Jersey and Seashore consist of a double-track, steam-operated line between Camden and Atlantic City; a double-track, electrically-operated line between the same points; and a double-track, electrically-operated line between Camden and Millville, with a steam-operated extension to Cape May. The West Jersey and Seashore owns 339.656 miles of first main track and 155.433 miles of second main track. The West Jersey and Seashore also owns yard and side tracks totaling 124.849 miles. Its road thus embraces 619.938 miles of all tracks owned. In addition to its rail lines, the West Jersey and Seashore owns about 2.75 miles of water transfer between Longport and Ocean City, which are leased to and operated by Atlantic City & Shore Railroad Company, and owns and operates about 0.15 mile, between Maurice River and Bivalve. It also operates as agent the ferries of The Cooper's Point and Philadelphia Ferry Company and Kensington and New Jersey Ferry Company, separate tentative valuations upon which will be made.

Corporate History
The West Jersey and Seashore was incorporated and organized May 4, 1896, under the general laws of New Jersey, as a consolidation, effective May 1, 1896, of the Alloway and Quinton Railroad Company, The Camden and Atlantic Railroad Company, The Chelsea Branch Railroad Company, The Philadelphia, Marlton and Medford Railroad Company, The West Jersey and Atlantic Rail Road Company, and the West Jersey Railroad Company. As of April 27, 1900, it purchased the franchises and property of the Delaware River Railroad Company. The principal office is located at Philadelphia.

Economic Conditions Relating to Traffic
The western half of the road traverses a section that is well developed with truck gardens, orchards, and vineyards. Elsewhere there is but little cultivation. At the western terminus of Camden, near Philadelphia, there are many large industries producing articles of numerous and various kinds. There are no other industrial communities of any importance reached by the West Jersey and Seashore's lines. Along the coast are many hotels and cottages, frequented during the summer months by vacationists in large numbers.

Physical Characteristics of Road
The terrain, being rather flat in character, the curvature is small in amount and degree; the grades, particularly on the main lines, are generally quite light.

Corporate History
The corporations whose franchises and properties have gone to make up the present company, and the dates of the changes in those corporations, are shown in the following table:

Development of Fixed Physical Property
The road owned by the West Jersey and Seashore was acquired as follows:

Leased Railway Property
The West Jersey and Seashore uses on date of valuation facilities owned by other companies, and other companies use facilities owned by the West Jersey and Seashore, to the extent indicated in the statement below. The description of the property, the period and terms of use, and the rental accrued and charged or credited to income for the year ending on date of valuation, are as follows:

Jointly used, but not owned, leased from—
 * The United New Jersey Railroad and Canal Company. (The Pennsylvania Railroad Company, lessee)—
 * Camden (Tenth Street) and Pavonia, N. J., main tracks, 1.92 miles.
 * Proportion of interest at 4 per cent per annum, maintenance and operation, including taxes and insurance, on basis of cars and locomotives (both passenger and freight) moved, including shifting movements. $11,238.19
 * Camden terminal to Tenth and Carman Streets. Terminal facilities and 0.99 mile of track. Connection at Broadway, Camden, and 0.17 mile of track. Proportion of interest at 4 per cent per annum, maintenance and operation, including taxes and insurance. Passenger terminal basis; passenger locomotives and cars moved, excluding shifting movements; freight yard terminal basis; freight locomotives and cars moved, excluding shifting movements; freight and transfer station basis; tonnage handled; engine-house, coaling, and water station basis; locomotives handled, excluding shifting locomotives; floating racks and bridge basis; freight cars handled. 136,713.82
 * Camden, N. J., interlocking plant. Interest at 4 per cent per annum, maintenance, operation, including taxes and insurance. Basis: Functions used. 21.13
 * Pennsylvania Railroad, lessee—
 * Philadelphia, Pa. Terminal facilities at Walnut Street Wharf. Proportion of interest at 4 per cent per annum, maintenance and operation, including taxes and insurance. Basis: Tonnage handled. 13,129.02
 * Philadelphia and Camden Ferry Company—
 * Philadelphia, Pa. Power plant at Market Street Wharf. Radiation furnished and number of electric lights. 307.49
 * Atlantic City Railroad Company—
 * Winslow Junction to Woodbine Junction, N. J. Main tracks, 31.10 miles, and facilities. Full rental at 2 per cent per annum, proportion of maintenance and operation, including taxes and insurance. Basis: Car and locomotive mileage. 33,281.04
 * Atlantic City & Shore Railroad Company—
 * Atlantic, N. J., power plant, New York, average rental at $70.81 per month for 7 months. 495.67
 * Atlantic City & Ocean City Railroad Company—
 * Trackage between Somers Point and Ocean City, N. J. This privilege covers the use of 1.92 miles of tracks, but was not exercised during the year ending on date of valuation.

Solely owned or controlled by the West Jersey and Seashore, but jointly used, used with—
 * Atlantic City & Shore Railroad Company-
 * Trackage between Pleasantville and Somers Point, 10.97 miles; Atlantic City to Longport, 8.38 miles; Longport to Ocean City (ferry), 2.75 miles; at Atlantic City, 0.21 mile; Pleasantville to point north, 2.01 miles. Interest at 4 per cent on valuation; 50 per cent of taxes (Nov. 1, 1915, arrangement was entered into for 5 years for 4.5 per cent interest on usage basis). 18,522.41
 * Atlantic City Railroad Company, trackage through yard. Cape May, N. J. (from Electric Light Company to Cape May Railroad connection on Beach Avenue). Basis: $1 per car. 1,331.85
 * Pennsylvania Railroad—
 * Milk station facilities, Cooper's Point, Camden, N. J. Interest at 4 per cent on valuation. Basis: Number of quarts handled. 913.86
 * Camden, N. J. Use of tracks between Wright Avenue and Second Street, 1.34 miles. Interest at 4 per cent on valuation. Basis: Cars and locomotives handled. 948.28
 * Camden, N. J. Use of electric terminal tracks and other facilities (Delaware Avenue and Merkle Street), 0.84 mile. Interest at 4 per cent on valuation. Basis: Cars and locomotives handled. 19,303.93
 * Philadelphia, Pa. Use of heat and light plant at Market Street Wharf; 50 per cent of rent paid by the West Jersey and Seashore to Philadelphia and Camden Ferry Company, output radiation, proportion of heat furnished railroad, and number of electric lights. ---
 * Atlantic City & Ocean City Railroad Company—
 * Ocean City, N.J., use of 0.34 mile of track. This privilege covers the use of track and loop in Ocean City, and, as the Atlantic City & Ocean City Railroad Company has exclusive use of this portion of the track, the rental received is credited to income from lease of road. ---

Trackage rights are granted to the West Jersey and Seashore by other companies as follows:
 * Atlantic City and Ocean City Railroad Company, Somer's point to Ocean City. 1.92
 * Atlantic City Railroad Company, Winslow Junction to Woodbine Junction. 31.10
 * The United New Jersey Railroad and Canal Company (Pennsylvania Railroad, lessee)—
 * Camden Terminal to Tenth and Carman Streets. .99
 * Tenth and Carman Streets, Camden, to Pavonia. 1.92
 * Connection at Broadway, Camden. .17
 * Total. 36.10

Trackage rights are granted by the West Jersey and Seashore to other carriers as follows:
 * Atlantic City and Ocean City Railroad Company, (Atlantic City & Shore Railroad Company, lessee):
 * At Ocean City. 0.34
 * Atlantic City Shore Railroad Company:
 * Pleasantville to Somer's Point. 10.97
 * Atlantic City to Longport. 8.38
 * Longport to Ocean City (ferry). 2.75
 * At Atlantic City. .21
 * At Pleasantville to point north. 2.01
 * Pennsylvania Railroad:
 * Camden Terminal to Mickle Street, Camden. .84
 * Cooper's Point to Wright Avenue, Camden. 1.34
 * Total. 26.84

Camden and Atlantic Railroad Company
Introductory

This company conducted its own railway operations and also operated properties under agreements as follows:

As of May 4, 1896, this company and five other corporations were consolidated to form the West Jersey and Seashore.

The West Jersey and Atlantic Railroad Company
Introductory

The property of this company was operated by the West Jersey Railroad Company as agent, until May 4, 1896, on which date the company and five other corporations were consolidated to form the West Jersey and Seashore.

The Pleasantville and Ocean City Rail Road Company
Introductory

The property of the company was operated for its own account as follows: By trustees of the Philadelphia & Atlantic City Railway Company during a part of 1880–2, and by the West Jersey Railroad from June 4 to December 8, 1882. The property of the company was acquired and merged into the West Jersey and Atlantic Railroad Company under an agreement dated October 28, 1882, and effective December 8, 1882.

The Philadelphia, Marlton and Medford Railroad Company
Introductory

This company conducted its railway operations until January 1, 1885, from which date the Camden and Atlantic Railroad Company operated the property as agent until May 4, 1896, on which date the company and five other corporations were consolidated to form the carrier.

West Jersey Railroad Company
Corporate History

Three successive New Jersey corporations named West Jersey Railroad Company are treated collectively in this report. Their successions did not involve recapitalization or other change of assets or liabilities, and their respective transactions are not separated in the records but are recorded as if they had pertained to a single and continuous corporation. The first of these corporations was incorporated February 5, 1853, by a special act of that date, and on September 1, 1885, was consolidated, with another corporation, to form the second of these corporations, which on December 31, 1887, was consolidated, with six other corporations, to form the last of these corporations. These three successive corporations and the seven corporations referred to above, with which they were consolidated, are treated in this report, as they are treated in the records, as having been consolidated by the company. Besides the consolidations referred to above, the company merged two corporations and purchased one corporation, making altogether 10 corporations which it succeeded. These 10 corporations, the dates they were acquired, the miles of railroad acquired from them, all of which are located in New Jersey, appear from the following tabulation:


 * 1 Partly built, completed by the company in 1888.

The company acquired railroad by construction, and ferry line by adoption, all located in New Jersey, as follows:

The railroad owned by the company, acquired as indicated, was 184.84 miles in length, of which 80.92 miles extends from Camden to Cape May and 103.90 miles to sundry branch termini between those points. The company operated its own property and also operated the railroad of other corporations as follows:


 * 1 2 months.
 * 2 1 month.

As of May 4, 1896, the company and five other corporations were consolidated to form the carrier.

Salem Railroad
This company conducted its railway operations until January 1, 1858, from which date the West Jersey Railroad operated the property under lease until December 31, 1887, when the West Jersey Railroad consolidated the company. No accounting records of the company are obtainable. The agreement of consolidation states that it had $206,400 par value of stock and $100,000 par value of 4 per cent bonds outstanding. The minutes state that 6 per cent dividends were paid from July 1, 1864, to December 31, 1867, and under the lease the West Jersey Railroad was to pay bond interest and 6 per cent dividends.

Swedesboro Railroad Company
The property of the company was operated by the West Jersey Railroad under lease from October 2, 1869, to December 31, 1887, when it was consolidated by that company. No accounting records of the company are obtainable. The agreement of consolidation states that it had $93,350 par value of stock and $200,000 par value of 7 per cent bonds outstanding. Under the lease the West Jersey Railroad was to pay bond interest and 6 per cent dividends.

Woodstown and Swedesboro Railroad Company
The property of this company was operated for its account by the West Jersey Railroad from January 1, 1883, to December 31, 1887, when the company was consolidated with the latter company.

Millville and Glassboro Railroad Company
Introductory

The company conducted its railway operations from October, 1860, to August, 1861; from the latter date the property was operated by sundry individuals and industrial companies until April 1, 1868. On that date the company was consolidated with the West Jersey Railroad.

The Cape May and Millville Railroad Company
Introductory

The company conducted its railway operations from August, 1863, to June 1, 1868, and from the latter date to September 25, 1879, its property was operated under lease by the West Jersey Railroad. Under agreement dated August 29, and filed September 25, in 1879, the company was consolidated by the West Jersey Railroad. The accounts of the company were continued to February 13, 1880.

The Ocean City Railroad Company
Introductory

The property of this company was operated for its account by the West Jersey Railroad from November 24, 1884, until September 1, 1885, when the West Jersey Railroad consolidated the company.

The Chelsea Branch Railroad Company
The property of this company was operated by the Camden and Atlantic Railroad Company from December, in 1889, until May 4, 1896, but the manner and results of operation are not shown. As of the latter date the company and five other corporations were consolidated to form the West Jersey and Seashore. Minutes are the only obtainable records of the company. From them, and from the records of the Camden and Atlantic, the only information pertinent to this report can be stated is that, at May 4, 1896, the company’s authorized stock was $50,000 par value, all outstanding and held by the Camden and Atlantic after acquiring it for cash at par, and the latter had a recorded investment of $36,260.77 in advances of money to the company for construction.

Alloway and Quinton Railroad Company
The property of this company was operated by and for account of the West Jersey Railroad from December 21, 1891, until May 4, 1896, as of which date it and five other corporations were consolidated to form the West Jersey and Seashore. No corporate operations were recorded by the owning company.

The Delaware River Railroad Company, Reorganization of Delaware Shore Railroad Company
The Delaware Shore Railroad Company conducted its own railway operations from July, 1876, to December, 1877. From the latter date the property was operated by a receiver until August 9, 1879, when the property and franchise passed to the Delaware River Railroad Company following a judicial sale thereof. As no records of the Delaware Shore Railroad are obtainable, its financing, corporate operations, and investment in property can not be stated.

The Delaware River Railroad was incorporated October 3, 1879, under general laws of New Jersey as a reorganization of the Delaware Shore Railroad and succeeded to the franchise and property of that company as of August 9, 1879, which was all of the property it acquired. Both are hereinafter referred to as the company. The company conducted its railway operations from August 9, 1879.until November 1, 1899, from which date its property was operated by the West Jersey and Seashore as agent until April 30, 1900, when the latter acquired the property and franchise of the company.