Wikipedia:WikiProject Trains/ICC valuations/Pomeroy Belt Railway
Interstate Commerce Commission, Valuation Reports, Volume 29
The Pomeroy Belt Railway
[edit]Location and General Description of Property
[edit]The railroad of The Pomeroy Belt Railway Company, hereinafter called the Pomeroy Belt Railway, is a single-track line located entirely within the State of Ohio and extending from Pomeroy to near-by mines of the Peacock Coal Company, a distance of 3.953 miles.
Introductory
[edit]The Pomeroy Belt Railway is a corporation of the State of Ohio, having its principal office at Columbus, Ohio. Although the Pomeroy Belt Railway did not acquire title to its original property until February 8, 1910, it acquired possession of the property on October 1, 1909. It is controlled by the carrier [Hocking Valley Railway] through ownership of a majority of its outstanding capital stock. On the other hand, the records do not indicate that this company, itself, controls any common-carrier corporation. The property of this company has always been operated by the carrier.
Corporate History
[edit]The Pomeroy Belt Railway was incorporated September 30, 1909, under the general laws of the State of Ohio, for the purpose of acquiring certain railroad properties from trustees in the city of Pomeroy, Ohio, which properties were acquired by deed dated February 8, 1910. The date of organization was October 1, 1909.
Development of Fixed Physical Property
[edit]The owned mileage of the Pomeroy Belt Railway, extending from Pomeroy, Ohio, to Forest Run Mine of the Peacock Coal Company, a distance of 3.953 miles, was acquired partly by purchase from trustees, and partly by construction. The city of Pomeroy, Ohio, constructed 1.50 miles of the road and partially constructed 0.90 mile during 1891-1892. The carrier completed the 0.90 mile and in addition thereto constructed for this company 1.65 miles during 1912 and 1914. There is a difference of 0.003 mile between the mileage, 3.95 miles, recorded by the company, and the mileage, 3.953 miles, inventoried as of date of valuation.
Leased Railway Property
[edit]The entire property of the Pomeroy Belt Railway is leased to the carrier for a term of 99 years from November 1, 1909. The terms of the lease and the rental accrued for the year ending on date of valuation are given in the chapter on leased railway property in the report on the carrier.