Wikipedia:WikiProject Trains/ICC valuations/Fonda, Johnstown and Gloversville Railroad

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The railroad operated by the Fonda, Johnstown and Gloversville Railroad Company, hereinafter called the carrier, is a standard-gage railroad, located wholly within the State of New York. The operated road extends northwesterly from Schenectady via Amsterdam and Gloversville, to Northville with secondary main lines between Fonda and Gloversville and branch lines projecting from Amsterdam to Hagaman, and Broadalbin Junction to Broadalbin, aggregating 84.077 miles of which 25.424 miles is doubled[sic] tracked. That portion of the main line extending from Fonda to Northville and Broadalbin branch is steam operated while the remainder of the road is electrically operated. For convenience the entire property has been set up in this report under the steam classification of accounts.

The carrier owns all of its operated property with the exception of a secondary main line between Johnstown and Gloversville and the Broadalbin branch. The owned mileage aggregated 73.852 miles of first main track and 25.424 miles of second main track. It also wholly uses 10.225 miles of road owned by lessor companies, whose entire properties are leased to and operated by the carrier. There is given below a short description of the properties of the lessor companies.

The railroad of The Gloversville and Broadalbin Railroad Company, herein called the Gloversville and Broadalbin, is a single-track branch line located within the State of New York and extending from Broadalbin Junction to Broadalbin, a distance of 6.135 miles.

The railroad of The Johnstown, Gloversville and Kingsboro Horse Rail Road Company, herein called the Johnstown, Gloversville and Kingsboro, is a single-track secondary main line located within the State of New York, extending from Johnstown to Gloversville, a distance of 4.090 miles.

In addition to the foregoing, the carrier uses under trackage rights 1.99 miles of double-track railroad between Scotia and Schenectady, N.Y., owned by the Schenectady Railway Company, an electric line. It also has joint use of freight and passenger station and other facilities at Fonda, N.Y., owned by The New York Central Railroad Company.

The carrier wholly owns and uses 114.095 miles of all tracks and wholly uses but does not own 11.115 miles of all tracks. These tracks consisting of first and second main tracks and yard tracks and sidings, are classified in the trackage table in appendix 1.

CORPORATE HISTORY

The carrier was incorporated December 23, 1902, through filing of agreement for consolidation of the Fonda, Johnstown and Gloversville Rail Road Company, Cayadutta Electric Railroad Company, and Amsterdam Street Railroad Company. It was organized on the same date.

The carrier and the consolidating companies, together with their predecessors, total six different corporations and comprise the line of corporate succession culminating in the carrier as at present constituted. The names of the corporations, the respective dates of incorporation, and for each predecessor the date and manner of succession follows:

1. Fonda, Johnstown and Gloversville Railroad Company. General laws of New York through agreement for consolidation, dated December 17, 1902; filed December 23, 1902.
2. Fonda, Johnstown and Gloversville Rail Road Company. General laws of New York January 17, 1867. Consolidated December 23, 1902, with 4 and 6 to form 1.
3. Gloversville and Northville Rail Road Company. General laws of New York January 30, 1872. Sold at public auction January 22, 1881, and acquired same date by 2.
4. Cayadutta Electric Railroad Company. General laws of New York, February 27, 1892. Consolidated December 23, 1902, with 2 and 6 to form 1.
5. The Gloversville Street Electric Railroad Company. General laws of New York January 19, 1891. Merged with 4 December 13, 1893.
6. Amsterdam Street Rail Road Company. General laws of New York February 5, 1873. Consolidated December 23, 1902, with 2 and 4 to form 1.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The recorded mileage wholly owned by the carrier amounts to 76.55 miles, of which 47.49 miles was acquired by consolidation and 29.06 miles by construction. The inventoried mileage is 73.852 miles. The 29.06 miles was constructed by three corporations as follows: Partially by Cayadutta Electric Railroad Company and completed by the carrier, 7.92 miles; partially by the Amsterdam Street Rail Road Company and completed by the carrier, 19 miles; and by the carrier, 2.17 miles; less adjustments due to realignments and remeasurements 0.03 mile. Further details with respect to the construction of the property are given in the accounting report.

Of the five corporations which comprise the line of succession culminating in the carrier as at present constituted, one corporation, The Gloversville Street Electric Railroad Company, did not construct or improve any property, but owned only franchises and certain rights-of-way.

HISTORY OF CORPORATE FINANCING

CORPORATE HISTORY

The Gloversville and Broadalbin was incorporated April 17, 1895, under general laws of New York, for the purpose of constructing and operating a railroad from Broadalbin, N.Y., to a point of connection with the road of the Fonda, Johnstown and Gloversville Rail Road Company, near Gloversville, N.Y. It was organized April 24, 1895.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage, 6.135 miles, was acquired by construction in 1895 and 1896. It was constructed under contract by D. H. Lewis. Records reviewed do not indicate that the contractor was affiliated with the company.

HISTORY OF CORPORATE FINANCING

CORPORATE HISTORY

The Johnstown, Gloversville and Kingsboro was incorporated November 12, 1873, under general laws of New York, for the purpose of constructing and operating a horse-car railroad extending from Johnstown to Kingsboro (now a part of Gloversville), N. Y. The date of organization is not known.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage, 4.09 miles, was acquired by construction. It was originally constructed as a horse-car railroad about 1876 and was changed to an electric railroad about 1893.

HISTORY OF CORPORATE FINANCING