Wikipedia:WikiProject Trains/ICC valuations/New York and Fort Lee Railroad
Interstate Commerce Commission, Valuation Reports, Volume 27
New York and Fort Lee Railroad
[edit]Location and General Description of Property
[edit]The property of the New York and Fort Lee Railroad Company, herein called the New York and Fort Lee, consists only of certain right of way in the vicinity of Weehawken, N.J.
Introductory
[edit]The New York and Fort Lee is a corporation of the State of New Jersey, having its principal office at Weehawken, N.J. The accounting records of the New York and Fort Lee are fragmentary and incomplete. Therefore, only partial information can be given from the accounting records regarding its financial dealings or investments and no information can be given regarding its corporate operations. The accounting data in this report were obtained from a journal for the month of April, 1904, and from the records of The New York Central and Hudson River Railroad Company. The New York and Fort Lee is controlled by the New York Central through ownership of the entire outstanding capital stock. On the other hand, the records do not indicate that this company, itself, controls any common-carrier corporation.
Corporate History
[edit]The New York and Fort Lee was incorporated March 14, 1861, by special act of the Legislature of New Jersey, as the New York and Bull's Ferry Railroad Company. On March 3, 1862, the name was changed to New York and Fort Lee Railroad Company, the present name. The New York and Fort Lee acquired through purchase, on December 4, 1868, the property, rights, and franchises of The Hoboken and Hudson River Turnpike Company, which had been incorporated March 16, 1857, by a special act of the Legislature of the State of New Jersey.
Development of Fixed Physical Property
[edit]The report of the New York Central on its corporate history states that the New York and Fort Lee constructed about 2.50 miles of road some time prior to 1870, but all of the tracks have gradually disappeared in the construction of the terminals and yard tracks of the West Shore Railroad at Weehawken, N.J.
Leased Railway Property
[edit]The property of the New York and Fort Lee is used by the New York Central under a lease dated June 30, 1886, between the former and the New Jersey Junction Railroad Company for a term of 999 years. This lease provided for the payment by the lessee of all taxes and assessments and a sum not to exceed $1,000 per annum for maintenance of the organization of the New York and Fort Lee.