Wikipedia:WikiProject Trains/ICC valuations/Ticonderoga Railroad
Interstate Commerce Commission, Valuation Reports, Volume 116
The Ticonderoga Railroad Company
[edit]Location and General Description of Property
[edit]The railroad of The Ticonderoga Railroad Company, hereinafter called the Ticonderoga Railroad, is a single-track standard-gauge steam railroad, located in the east-central part of New York. The owned mileage extends westwardly from Ticonderoga Junction to Ticonderoga, a distance of 0.587 mile. The Ticonderoga Railroad also owns yard and side tracks totaling 2.537 miles. Its road thus embraces 3.124 miles of all tracks owned.
Introductory
[edit]There are no obtainable accounting records prior to March 14, 1902, when the general books were opened. The information here submitted was taken from the articles of association, minute books of directors and stockholders, and from the existing accounting records.
Corporate History
[edit]The Ticonderoga Railroad was incorporated under the general laws of New York December 13, 1889, for a term of 50 years, for the purpose of constructing, maintaining, and operating a railroad from a connection with the line of the New York and Canada Railroad Company at Ticonderoga Junction to Ticonderoga. The date of organization was November 20, 1889, and its principal office was originally located at Ticonderoga. This office has since been located at New York City. The property of the Ticonderoga Railroad has been operated by the carrier since the date the road was opened for operation, under an agreement dated August 13, 1890, effective for the life of the lessor company.
Development of Fixed Physical Property
[edit]Construction of the road was begun in 1890, under contract with P. W. Clement, who was to receive under the terms of the contract dated July 23, 1890, $30,000 in capital stock and $30,000 in bonds. The road was completed about February 2, 1891, and placed in operation on that date.
Leased Railway Property
[edit]The property of the Ticonderoga Railroad has been operated by the carrier since the date the road was opened for operation, under an agreement dated August 13, 1890, and effective for the life of the lessor. The terms of the lease and the rental accrued for the year ending on date of valuation are given in the section on leased railway property in the report on the carrier.