Wikipedia:WikiProject Trains/ICC valuations/Erie and Wyoming Valley Railroad

Interstate Commerce Commission, Valuation Reports, Volume 33

The Erie and Wyoming Valley Railroad

Location and General Description of Property

The railroad of The Erie and Wyoming Valley Railroad Company, herein called the Erie and Wyoming Valley, is located entirely within the State of Pennsylvania and extends from Lackawaxen to Plains Junction, with important branches projecting from East Lake Junction to West Lake Junction, Rock Junction to Jessup Junction, East Junction to Scranton, Avoca to Moosic, No. 7 Junction to Pittston, and Avoca to Wyoming Junction. The property aggregates 88.651 miles of road, with 15.591 miles of second main track. In addition to property leased to the Erie, this company owns a bridge and several culverts, with the grading in connection therewith, at Dunmore, Pa., which it leases to the Lackawanna and Wyoming Valley Railway, an electric line.

Introductory

The Erie and Wyoming Valley is a corporation of the State of Pennsylvania, having its principal office at Scranton, Pa. The accounting records of the Erie and Wyoming Valley obtained cover only the period from January 1, 1890, when new books were opened. Therefore, no information can be given from the accounts in connection with its corporate operations, financial dealings, or investments for the period prior to the above date. The accounting data in this report are those obtained from the records that cover the period from January 1, 1890, to date of valuation. However, no entries were made in the income and profit and loss accounts of the company after February 28, 1901.

The Erie and Wyoming Valley is controlled by the Erie through ownership of its entire outstanding capital stock. The records do not indicate that this company controls any common-carrier corporation.

The property of the Erie and Wyoming Valley has been operated during its corporate life as indicated below:

Own organization (except Hawley branch). 1884, to Feb. 28, 1901.

New York, Lake Erie and Western Railroad Company and its receivers (Hawley branch). Jan. 1, 1886, to Nov. 30, 1895.

Erie (Hawley branch). Dec. 1, 1895, to Feb. 28, 1901.

Erie (entire property). Mar. 1, 1901, to Dec. 31, 1917.

The property of the Erie and Wyoming Valley was taken over for operation by the United States Railroad Administration on January 1, 1918, as a part of the system of the Erie, and it is so operated on date of valuation.

Corporate History

The Erie and Wyoming Valley was incorporated November 6, 1882, under the general laws of Pennsylvania, for the purpose of constructing, maintaining, and operating a railroad from Pittston to Lackawanna, Pa. The date of organization was November 17, 1882. The company acquired by merger agreement, dated May 19, 1894, filed in Pennsylvania June 14, 1894, the property, rights, and franchises of The Jones Lake Rail Road Company. The Jones Lake Rail Road Company, the only predecessor of the Erie and Wyoming Valley, was incorporated September 8, 1887, under the general laws of Pennsylvania and was merged with this company as stated.

Development of Fixed Physical Property

The owned mileage of the Erie and Wyoming Valley, amounting to 88.637 miles, was acquired partly by construction, partly by merger, and partly by purchase. The property constructed by the Erie and Wyoming Valley and its predecessor, the years when the various portions of the line were constructed, and the manner in which the Erie and Wyoming Valley acquired the property are indicated in the following table.

	Mileage
Acquired by construction:
West Hawley to Plains Junction, Pa., 1884.	48.991
Sebastopol to Pittston, Pa., 1884.	1.196
East Junction to Scranton, Pa., 1887.	8.746
Rock Junction to Jessup, Pa., 1888.	6.989
Avoca to Wyoming Junction, Pa., 1888.	1.681
Various branches, dates not recorded.	8.376
	70.959
Acquired by merger:
From the Jones Lake Rail Road Company, June 14, 1894, constructed by that company—
West Lake Junction to Lake Ariel, Pa., 1888.	2.142
Acquired by direct purchase:
From Pennsylvania Coal Company, Dec. 30, 1885—
Lackawaxen to West Hawley, Pa.	15.610
Total recorded mileage.	88.711
Difference between total recorded mileage and mileage inventoried as of date of valuation.	0.060
Mileage inventoried as of date of valuation.	88.651

Leased Railway Property

The property of the Erie and Wyoming Valley was solely operated by the Erie from March 1, 1901, to December 31, 1917, by virtue of capital stock control.

From January 1, 1918, to date of valuation the common-carrier property of this company has been operated by the United States Railroad Administration as part of the system of the Erie. Details with respect to the operation of this property are given in the chapter on leased railway property in the report on the Erie.

Predecessor Company

The Jones Lake Rail Road

The accounting records of The Jones Lake Rail Road Company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. The records reviewed did not indicate whether The Jones Lake Rail Road Company was controlled by any individual or corporation on June 14, 1894, the date of its demise, nor, on the other hand, whether it controlled any common-carrier corporation. The property of this company was operated by its own organization from the date it acquired its road until the date of demise. The Jones Lake Rail Road Company owned on the date of its demise 2.142 miles of single-track, standard-gage, steam railroad, between West Lake Junction and Lake Ariel, Pa., which had been acquired by construction. The records reviewed did not indicate whether this property was constructed under contract or by company forces. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Erie and Wyoming Valley.