Wikipedia:WikiProject Trains/ICC valuations/Perth Amboy and Woodbridge Railroad

Interstate Commerce Commission, Volume 22, Valuation Reports

Perth Amboy and Woodbridge Railroad

Location and General Description of Property

The railroad of the Perth Amboy and Woodbridge Railroad Company, herein called the Perth Amboy and Woodbridge, is a standard-guage, steam railroad, located in northeastern New Jersey. The main line extends southerly from Perth Amboy Junction, near Rahway, to Perth Amboy, 6.326 miles, of which 5.853 miles are double-tracked. The company also owns 4.124 miles of yard tracks and sidings. Its road thus embraces 16.303 miles of all tracks owned and used. This company has trackage rights over road of another carrier between Perth Amboy and Woodbridge Junction, N. J., about 1.70 miles.

The Perth Amboy and Woodbridge is a part of the Pennsylvania Railroad system, its line being a short but important branch extending from that carrier's New York-Philadelphia main line. The Perth Amboy and Woodbridge has no operating organization, its property being operated by the Pennsylvania Railroad as agent, as shown in Appendix 2.

Economic Conditions Relating to Traffic

The principal products of this locality are those of the farm and fisheries. Seashore resorts furnish a great amount of the passenger traffic during the summer months.

Physical Characteristics of Road

The grading is medium, averaging about 36,200 cubic yards per mile, of which about 10 per cent is loose rock. The bridges are through and deck-plate girder types, having spans ranging in length from 24 to 67 feet. The main track is laid chiefly with new 101.5, 100, and 85 pound rail on oak, yellow-pine, and treated crossties. The tracks are ballasted with stone and cinders.

Introductory

The Perth Amboy and Woodbridge is a corporation of the State of New Jersey, having its principal office at Camden, N. J. Although the Perth Amboy and Woodbridge did not acquire title to its original property until January 27, 1891, the company commenced recording the results of the operations of the property in its books on January 1, 1891. The accounting data in this report, therefore, cover the period from January 1, 1891.

The United States Railroad Administration did not maintain separate accounting records covering the operation of the property of the Perth Amboy and Woodbridge. The results from the operation of this property are included in its accounts covering the operation of the property of the Pennsylvania Railroad. Therefore, nothing can be given from the accounts of the railroad administration relative to its operation of this property during the period January 1, 1918, to date of valuation.

The Perth Amboy and Woodbridge is controlled by the Pennsylvania Railroad through ownership of a majority of the capital stock. The records do not indicate that this company controls any common-carrier corporation.

The property was operated from January 1, 1891, to December 31, 1917, by the Pennsylvania Railroad under an agency agreement dated June 26, 1889. On January 1, 1918, its common-carrier property, with that of the Pennsylvania Railroad, was taken over for operation by the railroad administration, which still operates it at date of valuation.

Corporate History

The Perth Amboy and Woodbridge was organized and incorporated January 27, 1891, under the general laws of the State of New Jersey, through articles of consolidation, dated December 19, 1890, filed January 27, 1891, for the purpose of acquiring the property, rights, and franchises of The Perth Amboy and Woodbridge Railroad Company and The Perth Amboy and Long Branch Railroad Company, which was done.

The Perth Amboy and Woodbridge Railroad Company was incorporated March 9, 1855, under special act of the State of New Jersey, and the Perth Amboy and Long Branch was incorporated August 25, 1890, under the general laws of the State of New Jersey.

Development of Fixed Physical Property

The owned mileage, 6.326 miles, was acquired by consolidation from The Perth Amboy and Woodbridge Railroad Company. It was constructed by that company during the period from about 1863 to about October, 1864. The Perth Amboy and Long Branch Railroad Company did not construct any road. There is a difference of 0.004 mile between the mileage, 6.33 miles, recorded by the company, and the mileage, 6.326 miles, inventoried as of date of valuation.

Leased Railway Property

The property of the Perth Amboy and Woodbridge was operated by the Pennsylvania Railroad, as agent for the owners, from January 1, 1891, to December 31, 1917, under an agreement dated June 26, 1889, on a basis of the net earnings from the operation of the property. On January 1, 1918, the common-carrier property was taken over for operation by the United States Railroad Administration, which still operates it on date of valuation. During this period, the Perth Amboy and Woodbridge has accrued rental from lease of road amounting to $38,705.17.

The Perth Amboy and Woodbridge jointly used on December 31, 1917, with the Central of New Jersey, about 1.70 miles of tracks extending from Woodbridge Junction to Perth Amboy, N. J., which that company leases from The New York and Long Branch Railroad Company. The rental accrued and charged to income for the use of this property for the year ended December 31, 1917, was $8,450.07. This arrangement has been continued by the railroad administration during the period January 1, 1918, to date of valuation.

Predecessor Companies

The Perth Amboy and Woodbridge Railroad Company

Introductory

This company was incorporated March 9, 1855, under special act of the State of New Jersey. No accounting records of the company for the period from the date of its organization to June 30, 1872, were obtained. Therefore, only partial information can be given from its accounts regarding its financial dealings, corporate operations, or investments. Certain information indicated hereinafter pertaining to the period first mentioned has been taken from sources other than the accounting records of the company.

The property was conveyed to the successor on January 27, 1891, by filing the consolidation agreement dated December 19, 1890, but the accounts of the company for the results of corporate operations were discontinued on December 31, 1890, and other accounts were closed on that date. The accounting data in this report, therefore, cover the period July 1, 1872, to December 31, 1890.

The company was controlled on January 27, 1891, the date of consolidation, by the Pennsylvania Railroad through ownership of a majority of its capital stock. The records reviewed do not indicate that this company controlled any common-carrier corporation. The property was operated under lease by The New Jersey Rail Road and Transporation[sic] Company from the date it was completed, about October, 1864, to June 30, 1871. From that date to January 1, 1889, it was operated under lease by the Pennsylvania Railroad, and from the latter date to date of consolidation it was operated by the Pennsylvania Railroad under an agency agreement.

The railroad consisted of 6.33 miles of standard-gauge, steam railroad, extending from Perth Amboy Junction, near Rahway, to Perth Amboy, N. J., which had been acquired by construction. The construction work was performed by The New Jersey Rail Road and Transporation[sic] Company during the period from about 1863 to October, 1864.

Perth Amboy and Long Branch Railroad Company

Introductory

This company was incorporated August 25, 1890, under the general laws of the State of New Jersey. It was controlled on January 27, 1891, the date of consolidation, by the Pennsylvania Railroad through ownership of its capital stock. The records reviewed do not indicate that this company controlled any common-carrier corporation.

The company owned on the date of consolidation certain right of way between the junction of the railroads of The Perth Amboy and Woodbridge Railroad Company and The Central Railroad Company of New Jersey in Middlesex County, N.J., and the northern end of the Raritan River bridge in that county, but no construction work had been performed.