Wikipedia:WikiProject Trains/ICC valuations/Philadelphia and Camden Ferry Company
Interstate Commerce Commission, Valuation Report, Volume 110
Philadelphia and Camden Ferry Company
[edit]Location and General Description of Property
[edit]The Philadelphia and Camden Ferry Company, hereinafter called the carrier, owns and operates a steam-ferry line across the Delaware River between Philadelphia, Pa., and Camden, N. J., a distance of about 0.5 mile. This ferry is the main connecting link in passenger service from Philadelphia, Pa., to points on the lines of the subsidiaries of the Pennsylvania Railroad Company in central and southern New Jersey. The property of the carrier consists of eight steam-propelled wood and steel passenger ferryboats and terminal property, located at Philadelphia, Pa., and Camden, N. J.
Terminal Property
[edit]The terminal property, in general, consists of two large steel-frame ferry houses with appurtenant bulkheads, pile ferry slips, and interior station, office, and telegraph and telephone facilities, together with a frame ferry house at Camden, used as a facility for repairing the floating equipment.
Introductory
[edit]The carrier is a corporation of the State of New Jersey, having its principal office at Camden, N. J. It is controlled by the Pennsylvania Railroad Company through ownership of a majority of the capital stock. On the other hand, the records do not indicate that the carrier itself controls any other common-carrier corporations. The property of the carrier has been operated by its own organization during its entire life.
Corporate History
[edit]The carrier was incorporated April 1, 1899, under the general laws of the State of New Jersey, for the purpose of acquiring the property, rights, and franchises of The Camden and Philadelphia Steam Boat Ferry Company and the West Jersey Ferry Company. Pursuant to the above purpose, the carrier acquired at its organization the property, rights, and franchises of the two water-line corporations named. The following table shows the names of the corporations, the respective dates of incorporation, and, for each predecessor the date and the manner of succession. Reference to each of these corporations is made in the last column by its respective number shown in the first column.
| Name | Incorporation | Succession |
|---|---|---|
| 1. Philadelphia and Camden Ferry Company. | Under general laws of New Jersey, April 1, 1899. | |
| 2. The Camden and Philadelphia Steam Boat Ferry Company. | Under special act of New Jersey, March 5, 1836. | Combined April 1, 1899, with 3 to form 1. |
| 3. The West Jersey Ferry Company. | Under special act of New Jersey January 31, 1849. | Combined April 1, 1899, with 2 to form 1. |
Development of Fixed Physical Property
[edit]The property of the carrier was acquired by the consolidation of The Camden and Philadelphia Steam Boat Ferry Company and the West Jersey Ferry Company on April 1, 1899, and by subsequent additions and betterments.
Predecessor Companies
[edit]The Camden and Philadelphia Steam Boat Ferry Company
[edit]Introductory
The records reviewed indicated that The Camden and Philadelphia Steam Boat Ferry Company was controlled by the Pennsylvania Railroad Company on date of its demise, April 1, 1899, through ownership of a majority of its capital stock. On the other hand, the records did not indicate that this company, itself, controlled any other common-carrier corporations. The property of this company was operated by its own organization from the date it was opened for operations, April 18, 1838, to the date of its demise, April 1, 1899. The property owned and operated on the date of demise consisted of ferry terminals at Federal Street, Camden, N. J., and Market Street, Philadelphia, Pa., together with ferryboats which were used between these terminals, a distance of about 0.5 mile.
Development of Fixed Physical Property
Of the real property and equipment owned by The Camden and Philadelphia Steam Boat Ferry Company on the date of its demise, it had acquired by purchase from The Camden and Amboy Railroad and Transportation Company and Jacob Ridgway its original ferry terminals at Camden, N. J., and at Philadelphia, Pa. Additions and betterments were made to this property. In addition, the company constructed during the years 1838 to 1840, a canal through Windmill Island, which is opposite Philadelphia, Pa., but this canal was subsequently sold and is not considered in this report.
The West Jersey Ferry Company
[edit]Introductory
The records reviewed indicated that the West Jersey Ferry Company was controlled by the Pennsylvania Railroad Company on date of its demise, April 1, 1899, through ownership of a majority of its capital stock. On the other hand, the records did not indicate that this company, itself, controlled any other common-carrier corporations. The property of this company was operated by its own organization from the date it was acquired, May 15, 1849, to the date of its demise, April 1, 1899. The property owned and operated by the West Jersey Ferry Company on the date of demise consisted of ferry terminals at Market Street, Camden, N. J., and Market Street, Philadelphia, Pa., together with ferryboats which were used between these terminals, a distance of about 0.5 mile on the Delaware River.
Development of Fixed Physical Property Of the real property and equipment owned by the West Jersey Ferry Company at the date of its demise, it had acquired by purchase from the incorporators of the company certain real property and equipment on May 15, 1849. Additions and betterments were made to this property. In addition, it owned one-half interest in the canal through Windmill Island, constructed by The Camden and Philadelphia Steam Boat Ferry Company, but this canal was subsequently sold and is not considered in this report.