Wikipedia:WikiProject Trains/ICC valuations/Allentown Railroad

ALLENTOWN RAILROAD

INTRODUCTORY

The Allentown Railroad is a corporation of the State of Pennsylvania, having its principal office at Philadelphia, Pa. It is controlled by the Reading Company through ownership of a majority of the outstanding capital stock. The records reviewed do not indicate that this company controls any common-carrier corporation.

The property of the Allentown Railroad was operated by The Philadelphia and Reading Railroad Company from the date it was placed in operation until November 30, 1896. From December 1, 1896, to date of valuation, it has been operated by the Philadelphia and Reading.

CORPORATE HISTORY

The Allentown Railroad was incorporated September 19, 1853, by special act of Pennsylvania approved April 19, 1853, and through filing with the secretary of state of Pennsylvania an agreement dated January 1, 1857, for the merger of the properties, etc., of The Auburn and Port Clinton Railroad Company, which company had been incorporated July 11, 1854, by special act of Pennsylvania.

The act incorporating the Allentown Railroad authorized it to build and operate a railroad from Allentown to Port Clinton, Pa. Before the work of construction was begun the property of The Auburn and Port Clinton Railroad Company was merged with that of the Allentown Railroad.

The date of organization of the Allentown Railroad was October 18, 1853.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the Allentown Railroad, amounting to 4.390 miles, was acquired by construction. On the date of consolidation, January 1, 1857, The Auburn & Port Clinton Railroad Company had graded some of the right of way of a projected railroad from Port Clinton to Auburn, Pa. Construction of the road from Port Clinton to Allentown, Pa., was begun in 1857, and the line from Topton to Kutztown, Pa., was completed and placed in operation about December 1, 1870. The remainder of the projected line was abandoned after some of the right of way had been graded.

HISTORY OF CORPORATE FINANCING