Wikipedia:WikiProject Trains/ICC valuations/Cooperstown and Charlotte Valley Railroad
Interstate Commerce Commission, Valuation Reports, Volume 116
The Cooperstown and Charlotte Valley Rail-Road Company
[edit]Location and General Description of Property
[edit]The railroad of The Cooperstown and Charlotte Valley Rail-Road Company, hereinafter called the Cooperstown and Charlotte Valley, is a single-track standard-gauge steam railroad, located in the south-central part of New York. The owned mileage extends westwardly from a point near West Davenport to Hemlocks, a distance of 1.231 miles. The Cooperstown and Charlotte Valley also owns yard and side tracks totaling 0.014 mile. Its road thus embraces 1.245 miles of all tracks owned. The property is operated by its own organization.
Corporate History
[edit]The Cooperstown and Charlotte Valley was incorporated April 13, 1891, through filing with the secretary of state of New York an agreement for the consolidation of the properties, etc., of The Cooperstown and Charlotte Valley Railroad Company (of 1888) and of the West Davenport Rail Road Company. It was incorporated for the purpose of completing construction, managing, and operating the roads of the respective companies. It was organized April 15, 1891, and has its principal office at New York.
Development of Fixed Physical Property
[edit]The railroad owned by the Cooperstown and Charlotte Valley on date of valuation was acquired from The Cooperstown and Charlotte Valley Railroad Company (of 1888) under the agreement of consolidation effective April 13, 1891. Construction was begun sometime during the year 1891 and the road placed in operation on April 13 of that year.
Leased Railway Property
[edit]The Cooperstown and Charlotte Valley leases for sole operation the entire property of the Cooperstown & Susquehanna Valley extending from The Hemlocks to Cooperstown, a distance of 20.003 miles, which is leased under an agreement dated April 15, 1891, for a term of 99 years. Under the terms of the agreement the Cooperstown and Charlotte Valley operates and maintains the property, pays as annual rental the interest on the funded debt; dividends not to exceed 6 per cent on the capital stock, if earned, 6 per cent upon the actual cost of the additions and betterments, and divides the residue, if any, equally with the lessor.
Predecessors of the Cooperstown and Charlotte Valley
[edit]The Cooperstown and Charlotte Valley Railroad Company (of 1888)
[edit]Corporate History
The Cooperstown and Charlotte Valley Railroad Company (of 1888) was incorporated April 30 , 1888 , under the general laws of New York , for a term of 100 years. The purpose of incorporation, as stated in the articles of association, was to construct, maintain, and operate a railroad from The Hemlocks, in the county of Otsego, to Davenport Center, in the county of Delaware, N. Y., about 1.231 miles.
Development of Fixed Physical Property
Construction of the road was begun in November, 1889, and completed and placed in operation in 1891. In addition to its owned mileage, the Cooperstown and Charlotte Valley operated the railroad of the Cooperstown & Susquehanna Valley from The Hemlocks to Cooperstown, N. Y., under an agreement dated April 30, 1888, for 99 years from January 1, 1889. On April 13, 1891, The Cooperstown and Charlotte Valley Railroad Company was consolidated with The West Davenport Rail Road Company to form the Cooperstown and Charlotte Valley. At its demise it operated a total of 21.234 miles of single-track standard-gauge railroad, as follows:
| Miles | |
|---|---|
| Road owned, from near West Davenport to The Hemlocks | 1.231 |
| Road leased, from The Hemlocks to Cooperstown | 20.003 |
| Grand total | 21.234 |
Leased Railway Property
At April 30, 1888, The Cooperstown and Charlotte Valley Railroad Company (of 1888) leased the property of The Cooperstown and Susquehanna Valley for 99 years from January 1, 1889, upon the basis of guaranteeing the payment of interest and principal of $200,000 of that company's bonds. The rate of interest was 5 per cent. In addition, it agreed to pay all taxes and other expenses, 6 per cent on its capital stock, if earned, and to divide the residue equally between the two companies.
The West Davenport Rail-Road Company
[edit]The West Davenport Rail-Road Company was incorporated February 23, 1891, under the general laws of New York, for a term of 100 years. Its articles of association authorized it to construct, maintain, and operate a railroad from West Davenport to Davenport Center, N. Y., a distance of about 3 miles. There are no obtainable records for the company and its date of organization is not known. It constructed no road, and on April 13, 1891, it was consolidated and merged with The Cooperstown and Charlotte Valley Railroad Company (of 1888) to form the Cooperstown and Charlotte Valley.