Wikipedia:WikiProject Trains/ICC valuations/Mount Jewett, Kinzua and Riterville Railroad

http://books.google.com/books?id=QM5DAAAAIAAJ

LOCATION AND GENERAL DESCRIPTION OF PROPERTY

The railroad of the Mount Jewett, Kinzua and Riterville Railroad Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in Pennsylvania. The owned mileage extends from Mt. Jewett northeasterly to Kushequa, Pa. The lines used under lease extend from Evano to Mt. Jewett and from Kushequa to Smethport, with additional facilities at Kane Crossing, Smethport, and East Smethport, all in Pennsylvania.

The carrier wholly owns 3.939 miles of road, all of which it uses. It also wholly uses 19.490 miles of road owned by lessors. The sections of road owned by the lessors, whose entire properties are leased to and operated by the carrier, are described in the paragraphs below.

The railroad of the Mead Run Railroad Company, hereinafter called the Mead Run Railroad, is a single-track line extending from Evano easterly to Mt. Jewett, Pa., a distance of 2.839 miles.

The railroad of the Kane Railroad Company, hereinafter called the Kane Railroad, consists of 0.335 mile of single-track line at Kane Crossing, Pa.

The railroad of the Kushequa Railroad Company, hereinafter called the Kushequa Railroad, is a single-track line extending from Kushequa northeasterly to McKean, Pa., a distance of 7.412 miles.

The railroad of the Smethport Railroad Company, hereinafter called the Smethport Railroad, is a single-track line extending from McKean northeasterly to Smethport, Pa., a distance of 8.150 miles.

The railroad of the Buffalo, Bradford and Kane Railroad Company, hereinafter called the Buffalo, Bradford and Kane, consists of 0.628 mile of single-track line at Smethport, Pa.

The railroad of the Keating and Smethport Railroad Company, hereinafter called the Keating and Smethport, consists of 0.126 mile of single-track line at East Smethport, Pa.

The carrier wholly owns and uses 5.988 miles of all tracks and wholly uses but does not own 23.862 miles of all tracks. These tracks, consisting of first main tracks and yard tracks and sidings, are classified in the trackage table in Appendix 1.

The property of the carrier has been operated by its own organization during its entire life.

CORPORATE HISTORY

The carrier was incorporated April 27, 1889, under the general laws of the State of Pennsylvania. It was organized on the date of incorporation.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the carrier, 3.939 miles, was all acquired by construction. The years when the various portions of the line were constructed or sold are indicated in the following statement.

Portions constructed:

Mount Jewett to Kushequa and Camp Halsey, Pa., 1889-1890 5.000

Branch lines, 1890-1894 1.450

Total 6.450

Portion sold [to the Kushequa Railroad], Gaffney to Camp Halsey, Pa., 1903 2.500

3.950

Difference between total recorded mileage and the mileage inventoried as of date of valuation .011

Mileage inventoried as of date of valuation 3.939

HISTORY OF CORPORATE FINANCING