Wikipedia:WikiProject Trains/ICC valuations/West Shore Railroad

Interstate Commerce Commission, Valuation Reports, Volume 27 - main content

Interstate Commerce Commission, Valuation Reports, Volume 28 - predecessors content

West Shore Railroad

Introductory

The West Shore Railroad is a corporation of the State of New York, having its corporate office at Albany, N.Y., and its general administrative office at New York, N.Y. It is controlled by the New York Central through ownership of the entire outstanding capital stock. On the other hand, the West Shore Railroad controls, through ownership of the entire capital stock, the Wallkill Valley Railroad. Although the ownership of this stock is not recorded in the accounting records of the West Shore Railroad, it is held by the New York Central for account of the West Shore Railroad. The property of the West Shore Railroad has always been operated by the New York Central, or its predecessor companies, as follows:

• The New York Central and Hudson River Railroad Company (first corporation) from Dec. 5, 1885, to Apr. 16, 1913.
• The New York Central and Hudson River Railroad Company (second corporation) from Apr. 16, 1913, to Dec. 23, 1914.
• New York Central from Dec. 23, 1914, to June 30, 1917.

The results of corporate operations of the West Shore Railroad as recorded in its books, cover only the period July 1, 1907, to date of valuation.

Corporate History

The West Shore Railroad was incorporated December 5, 1885, under the general laws of the State of New York, for the purpose of acquiring the property, rights, and franchises of the New York, West Shore and Buffalo Railway Company (second corporation). The date of organization of the West Shore Railroad was December 5, 1885.

Pursuant to this above purpose, the West Shore Railroad acquired at its organization the property, rights, and franchises of that corporation. It subsequently acquired the property, rights, and franchises of The Syracuse, Ontario and New York Railway Company and the West Shore and Ontario Terminal Company. The West Shore Railroad, itself, and those corporations, together with their predecessors, total 24 different corporations, of which 2 underwent a change of name, and comprise the line of corporate successsion[sic] culminating in the West Shore Railroad as at present constituted. The following chart shows the names of the corporations, the respective dates of incorporation and for each predecessor the date of succession, the immediately succeeding corporation 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.

No.	Name	Incorporation	Succession
1	West Shore Railroad Company.	Under general laws of New York, Dec. 5, 1885.
2	New York, West Shore and Buffalo Railway Company (second corporation).	Under general laws of New York and New Jersey, through articles of consolidation dated May 12, 1881; filed in New York and New Jersey June 14, 1881.	Sold at foreclosure Nov. 24, 1885, after receivership begun June 9, 1884, and reorganized Dec, 5, 1885, as 1.
3	New York, West Shore and Buffalo Railway Company (first corporation).	Under general laws of New York, Feb. 18, 1880.	Consolidated June 14, 1881, with 7 to form 2.
4	The New York, West Shore and Chicago Railroad Company.	Under general laws of New York, July 13, 1870.	Sold at foreclosure Feb. 7, 1879, and conveyed Feb. 7, 1879, to Joseph Pool and others, who sold the property at public auction Aug. 3, 1880, and conveyed it Aug. 5, 1880, to Conrad N. Jordan, and acquired Aug. 27, 1880, by 3.
5	West Shore Hudson River Railroad Company.	Under general laws of New York, Oct. 28, 1867.	Merged July 21, 1877, into 4.
6	The Hudson River West Shore Railroad Company.	Under general laws of New York, Sept. 16, 1867.	Merged Mar. 31, 1868, into 5.
7	North River Railroad Company.	Under general laws of New York and New Jersey through articles of consolidation dated Apr. 1, 1881; filed in New York and New Jersey May 5, 1881.	Consolidated June 14, 1881, with 3 to form 2.
8	North River Railway Company.	Under general laws of New York, Apr. 3, 1880.	Consolidated May 5, 1881, with 9 to form 7.
9	Jersey City and Albany Railway Company of the States of New York and New Jersey.	Under general laws of New York and New Jersey through articles of consolidation dated Jan. 8, 1879; filed in New York Jan. 28, 1879; New Jersey Jan. 25, 1879.	Consolidated May 5, 1881, with 8 to form 7.
10	The Jersey City and Albany Railway Company of New York.	Under general laws of New York, Oct. 12, 1878.	Consolidated Jan. 28, 1879, with 11 to form 9.
11	The Jersey City and Albany Railway Company of New Jersey.	Under general laws of New Jersey, Sept. 24, 1878.	Consolidated Jan. 28, 1879, with 10 to form 9.
12	The Jersey City and Albany Railroad Company.	Under general laws of New York through articles of consolidation dated May 6, 1873; filed in New York June 24, 1873, and by special act of New Jersey, chapter 155, laws of 1873.	Property within the State of New Jersey sold at foreclosure June 22, 1877, and conveyed Aug. 17, 1878, to Delos E. Culver, and acquired Oct. 1, 1878, by 11. Property within the State of New York sold at foreclosure Nov. 23, 1877, and conveyed on same date to Delos E. Culver, and acquired Jan. 2, 1879, by 10.
13	The Ridgefield Park Railroad Company.	Under special act of New Jersey Apr. 4, 1867.	Consolidated June 24, 1873, with 14 to form 12.
14	Rockland Central Railroad Company.	Under general laws of New York through articles of consolidation dated July 1, 1872; filed in New York July 29, 1872.	Consolidated June 24, 1873, with 13 to form 12.
15	The Rockland Central Railroad Company.	Under general laws of New York, May 23, 1870.	Consolidated July 29, 1872, with 16 to form 14.
16	Rockland Central Extension Railroad Company.	Under general laws of New York, May 29, 1872.	Consolidated July 29, 1872, with 15 to form 14.
17	The Syracuse, Ontario and New York Railway Company.	Under general laws of New York, June 20, 1883.	Merged June 30, 1891, into 1.
18	The Syracuse, Chenango and New York Rail Road Company.	Under general laws of New York, Apr. 7, 1877.	Sold at foreclosure Aug. 22, 1883, after receivership begun January, 1879, and conveyed Aug. 22, 1883, to H. W. Gardiner, and acquired Sept. 1, 1883, by 17.
19	Syracuse and Chenango Rail Road Company.	Under general laws of New York, May 14, 1873.	Sold at public auction, by order of the court, Mar. 17, 1877, and acquired Apr. 16, 1877, by 18.
20	The Syracuse and Chenango Valley Rail Road Company.	Under general laws of New York, Apr. 16, 1868.	Sold at public auction, by order of the court in bankruptcy proceedings, July 8, 1873, and acquired July 28, 1873. by 19.
21	West Shore and Ontario Terminal Company.	See 22.	Merged July 9, 1901, into 1.
22	The Open Cut and General Storehouse Company.	Under special act of New Jersey Mar. 22, 1871.	Name changed to 21, June 20, 1883.
23	The Weehawken Ferry Company.	Under special act of New Jersey, Mar. 25, 1852.	Sold at public auction, by order of the Court, Sept. 21, 1881. and acquired Sept. 21, 1881, by 22.
24	The Midland Terminal and Ferry Company.	See 25.	Merged June 19, 1883, into 22.
25	The Weehawken Transportation Company.	Under special act of New Jersey, Mar. 22, 1871.	Name changed to 24, by authority of act of New Jersey, Mar. 7, 1873.
26	The National Stock Yard Company.	Under special act of New Jersey, Mar. 16, 1869.	Merged June 19, 1883, into 22.

Development of Fixed Physical Property

The road owned by the West Shore Railroad amounting to 477.870 miles, was acquired as follows:

• By construction. 1.170 miles.
• By purchase from reorganization committee. 435.220 miles.
• By merger. 42.700 miles.
• Less difference between total recorded mileage and mileage inventoried as of date of valuation. 1.220 miles.

Mileage inventoried as of date of valuation. 477.870 miles.

Of the 23 corporations which comprise the line of succession culminating in the West Shore Railroad as at present constituted, 5 corporations did not construct or improve any property. These corporations were:

• The Hudson River West Shore Railroad Company.
• Rockland Central Railroad Company.
• The Rockland Central Railroad Company.
• Rockland Central Extension Railroad Company.
• West Shore Hudson River Railroad Company.

Four others acquired property from predecessors, but either those have no records, or the records reviewed do not show whether they improved such property while they owned it. Those corporations were:

• North River Railroad Company.
• The Jersey City and Albany Railway Company of New York.
• The Jersey City and Albany Railway Company of New Jersey.
• The Syracuse, Chenango and New York Rail Road Company.

Of the 14 other corporations, 1 only, The Syracuse, Ontario and New York Railway Company, improved property completed by others.

The data with respect to the miles of road constructed by the West Shore Railroad and the 13 remaining corporations, the years in which the various portions of the line were constructed, and the manner in which the West Shore Railroad acquired the property are indicated in the following table, wherein, to facilitate comparison with the table showing corporate succession, previously given, the same order of corporations is maintained.

• Acquired by construction:
  • Congers to Rockland Lake, N.Y., 1891. 1.170 miles.
• Acquired from the reorganization committee: 435.220 miles.
  • From the New York, West Shore and Buffalo Railway Company (second corporation) Dec. 5, 1885—
    • Constructed partly by The New York, West Shore and Chicago Railroad Company, the New York, West Shore and Buffalo Railway Company (first corporation) and the North River Railway Company, and completed by the New York, West Shore and Buffalo Railway Company (second corporation)—
      • Weehawken to Ridgefield Junction, N.J., 1881-1883. 5.830 miles.
      • Haverstraw to Buffalo, N.Y., 1870-1883. 391.640 miles.
      • Ravena to Kenwood Junction, N.Y., 1881-1883. 11.550 miles.
    • Constructed by the Jersey City and Albany Railway Company of the States of New York and New Jersey—
      • Tappan to Haverstraw, N.Y., 1880. 13.200 miles.
    • Constructed partly by The Ridgefield Park Railroad Company and completed by The Jersey City and Albany Railroad Company—
      • Ridgefield Junction, N.J., to Tappan, N.Y., 1873. 13.000 miles.
• Acquired by merger:
  • From The Syracuse, Ontario and New York Railway Company, June 30, 1891— 42.700 miles.
    • Constructed by the Syracuse and Chenango Rail Road Company—
      • Erieville to Earlville, N.Y., 1874. 17.480 miles.
    • Constructed by The Syracuse and Chenango Valley Rail Road Company—
      • Syracuse to Erieville, N.Y., 1872. 25.220 miles.
  • From the West Shore and Ontario Terminal Company, July 9, 1901—
    • Constructed by the West Shore and Ontario Terminal Company, The Weehawken Ferry Company, The Midland Terminal and Ferry Company and The National Stock Yard Company—
      • Terminals, warehouse and storage facilities, sidetracks, piers, wharves, and water-front property at Weehawken, N.J., and New York, N.Y.
• Less difference between total recorded mileage and mileage inventoried as of date of valuation. 1.220 miles.

Mileage inventoried as of date of valuation. 477.870 miles.

The West Shore Railroad also acquired in the reorganization 24.32 miles of road extending from Coxsackie to Fullers, N.Y., which is used as a second main track. It is a part of 37.87 miles of road that had been constructed by The Saratoga and Hudson River Rail Road Company and acquired by the New York, West Shore and Buffalo Railway Company (second corporation), that company having abandoned the portions between Coxsackie and Athens, N.Y., and between Fullers and Schenectady, N.Y., in all 13.55 miles.

Leased Railway Property

The entire property of the West Shore Railroad is leased to the New York Central for a term of 475 years from January 1, 1886, with the privilege of a further term of 500 years. 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 New York Central.

Predecessor Companies

New York, West Shore and Buffalo Railway Company (Second Corporation)

Introductory

The New York, West Shore and Buffalo Railway Company (second corporation) was incorporated June 14, 1881, under the general laws of the States of New York and New Jersey. The accounting records reviewed of this company were incomplete for the period June, 1881, to June, 1883. Therefore, full information can not be given from its accounts regarding its financial dealings, corporate operations, or investments. The records reviewed do not indicate that the New York, West Shore and Buffalo Railway Company (second corporation) was controlled by any individual or corporation on December 5, 1885, the date of its reorganization, nor, on the other hand, that it then controlled any common-carrier corporation.

That part of the railroad of this company extending from Cornwall to Buffalo, N.Y., and from Ravena to Kenwood Junction, N.Y., was operated by its own organization from the various dates acquired to June 9, 1884. From that date until the date of reorganization, it was operated by receivers. That part of its railroad extending from Weehawken, N.J., to Cornwall, N.Y., and from Cornwall to Middletown, N.Y., was operated, under lease, by the New York, Ontario and Western Railway Company from the various dates acquired until the date of reorganization. This company retained operating rights over that portion of its railroad so leased.

The results of operations, as recorded in the accounts of the New York, West Shore and Buffalo Railway Company (second corporation) and its receivers, cover only the period from June, 1883, to December 5, 1885.

The New York, West Shore and Buffalo Railway Company (second corporation) owned on the date of its reorganization 423.670 miles of double-track, standard-gage railroad, extending from Weehawken, N.J., to Buffalo, N.Y., also a branch line of 11.550 miles between Ravena and Kenwood Junction, N.Y., and a branch of 26 miles between Cornwall and Middletown, N.Y.

Development of Fixed Physical Property

Of the 461.220 miles of road owned by the New York, West Shore and Buffalo Railway Company (second corporation) on the date of its reorganization, it had acquired 26.200 miles from the North River Railroad Company and 435.020 miles by construction. The construction work for about 371 miles of the road between Cornwall and Buffalo, N.Y., also a branch line of about 12 miles between Ravena and Kenwood Junction, N.Y., was done by the North River Construction Company, under contract dated January 13, 1881, with the New York, West Shore and Buffalo Railway Company (first corporation). The construction work for about 26 miles of the road between Weehawken and Ridgefield Junction, N.J., and between Haverstraw and Cornwall, N.Y., also a branch line of about 26 miles between Cornwall and Middletown, N.Y., was done by the New York, Ontario and Western Railway Company, under a lease and construction agreement dated May 12, 1881, with the North River Railroad Company. The New York, West Shore and Buffalo Railway Company (second corporation) assumed the contracts for construction entered into by the consolidating companies. The branch line of about 26 miles between Cornwall and Middletown, N.Y., was not acquired by the West Shore Railroad in the reorganization of the New York, West Shore and Buffalo Railway Company (second corporation). It was conveyed by the reorganization committee to the New York, Ontario and Western Railway Company, under authority contained in the plan for reorganization. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the West Shore Railroad.

New York, West Shore and Buffalo Railway Company (First Corporation)

Introductory

The New York, West Shore and Buffalo Railway Company (first corporation) was incorporated February 18, 1880, under the general laws of the State of New York. The records reviewed do not indicate that this company was controlled by any individual or corporation on June 14, 1881, the date of consolidation, nor, on the other hand, that it then controlled any common-carrier corporation.

The New York, West Shore and Buffalo Railway Company (first corporation) did not own any completed railroad. It had in process of construction, under contract with the North River Construction Company, a railroad between Cornwall and Buffalo, N.Y., a small portion of which, formerly the property of The New York, West Shore and Chicago Railroad Company, it had acquired from Conrad N. Jordan.

The New York, West Shore and Chicago Railroad Company

The New York, West Shore and Chicago Railroad Company was incorporated July 13, 1870, under the general laws of the State of New York. No accounting records of this company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings or investments. It is not known whether this company was controlled by any individual or corporation on February 7, 1879, the date of foreclosure sale, nor, on the other hand, whether it then controlled any common-carrier corporation. The New York, West Shore and Chicago Railroad Company did not own any completed railroad. It began the construction of a railroad projected from the New York-New Jersey State line along the west shore of the Hudson River to Athens and Albany, N.Y., from Athens to Schenectady, thence to Buffalo, N.Y.

West Shore Hudson River Railroad Company — Predecessor of The New York, West Shore and Chicago Railroad Company

The West Shore Hudson River Railroad Company was incorporated October 28, 1867, under the general laws of the State of New York. No accounting records of this company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings or investments. It is not known whether this company was controlled by any individual or corporation on July 21, 1877, the date of merger, nor, on the other hand, whether it then controlled any common-carrier corporation. This company did not own any railroad on date of merger.

The Hudson River West Shore Railroad Company — Predecessor of the West Shore Hudson River Railroad Company

The Hudson River West Shore Railroad Company was incorporated September 16, 1867, under the general laws of the State of New York. No accounting records of this company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings or investments. It is not known whether this company was controlled by any individual or corporation on March 31, 1868, the date of merger, nor, on the other hand, whether it then controlled any common-carrier corporation. This company did not own any railroad on date of merger.

North River Railroad Company

The North River Railroad Company was incorporated May 5, 1881, under the general laws of the States of New York and New Jersey. No accounting records of this company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from agreements on file and from the records of the successor. The records reviewed do not indicate that this company was controlled by any individual or corporation on June 14, 1881, the date of consolidation, nor, on the other hand, that it then controlled any common-carrier corporation.

The property of this company was operated, under lease, by the New York, Ontario and Western Railway Company from date of acquirement thereof to date of consolidation. The North River Railroad Company owned on the date of consolidation 26.20 miles of single-track, standard-gage railroad, extending from Ridgefield Junction, N.J., to Haverstraw, N.Y., all of which it acquired from the Jersey City and Albany Railway Company of the States of New York and New Jersey.

North River Railway Company

The North River Railway Company was incorporated April 3, 1880, under the general laws of the State of New York. No accounting records of this company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings or investments. However, certain data indicated below were obtained from agreements and other papers on file. The records reviewed do not indicate that this company was controlled by any individual or corporation on May 5, 1881, the date of consolidation, nor, on the other hand, that it then controlled any common-carrier corporation.

The North River Railway Company did not own any completed railroad on date of consolidation. It began the construction of a steam railroad from a point of connection with the railroad of the Jersey City and Albany Railway Company of the States of New York and New Jersey, near Fort Montgomery, N.Y., to Albany, N.Y.

Jersey City and Albany Railway Company of The States of New York and New Jersey

The Jersey City and Albany Railway Company of the States of New York and New Jersey was incorporated under the general laws of New York and New Jersey by articles of consolidation filed in New York January 28, 1879, and in New Jersey January 25, 1879. No accounting records of this company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from agreements and other papers on file. The records reviewed do not indicate that this company was controlled by any individual or corporation on May 5, 1881, the date of consolidation, nor, on the other hand, that it then controlled any common-carrier corporation.

According to the articles of consolidation, the property of this company was operated by its own organization. This company owned on the date of consolidation 26.20 miles of single-track, standard-gage railroad, extending from Ridgefield Junction, N.J., to Haverstraw, N.Y., of which 13 miles was acquired in the consolidation of January, 1879, and the remainder was acquired by construction during 1879.

The Jersey City and Albany Railway Company of New Jersey; The Jersey City and Albany Railway Company of New York — Predecessors of the Jersey City and Albany Railway Company of The States of New York and New Jersey

The first-named company was incorporated September 24, 1878, under the general laws of the State of New Jersey. The second-named company was incorporated October 12, 1878, under the general laws of the State of New York. No accounting records of these companies were obtained. Therefore, no information can be given from their accounts regarding their financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from agreements and other papers on file. The records reviewed do not indicate that either of these companies was controlled by any individual or corporation on January 28, 1879, the date of consolidation, nor, on the other hand, that either company then controlled any common-carrier corporation.

The Jersey City and Albany Railway Company of New Jersey and The Jersey City and Albany Railway Company of New York were short-lived companies that consolidated to form The Jersey City and Albany Railway Company of the States of New York and New Jersey. The first-named company owned on January 28, 1879, the date of consolidation, approximately 12 miles of single-track, standard-gage railroad, extending from Ridgefield Junction, N.J., to the New Jersey and New York State line, which it acquired October 1, 1878, from Delos E. Culver, who had acquired it at a foreclosure sale on June 22, 1877, from The Jersey City and Albany Railroad Company. The second-named company owned on January 28, 1879, the date of consolidation, approximately 1 mile of single-track, standard-gage railroad, extending from the New Jersey and New York State line to Tappan, N.Y., which it acquired January 2, 1879, from Delos E. Culver, who had acquired it at a foreclosure sale on November 23, 1877, from The Jersey City and Albany Railroad Company.

The Jersey City and Albany Railroad Company — Predecessor of The Jersey City and Albany Railway Company of New Jersey and The Jersey City and Albany Railway Company of New York

The Jersey City and Albany Railroad Company was incorporated June 24, 1873, under the general laws of the State of New York. No accounting records of this company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from agreements and other papers on file. The records reviewed do not indicate that this company was controlled by any individual or corporation on the date of sale, nor, on the other hand, that it then controlled any common-carrier corporation.

The property of this company was operated by the New Jersey Midland Railway Company, and receivers thereof, from the date of opening in 1873 to some time in 1877, on or about the dates of foreclosure sale, June 22, 1877, in New Jersey and November 23, 1877, in New York. This company owned, prior to the sale of its property, 13 miles of single-track, standard-gage, steam railroad, extending from Ridgefield Junction, N.J., to Tappan, N.Y., which it acquired by completing construction begun by The Ridgefield Park Railroad Company.

The Ridgefield Park Railroad Company — Predecessor of The Jersey City and Albany Railroad Company

The Ridgefield Park Railroad Company was incorporated April 4, 1867, by special act of New Jersey. No accounting records of this company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings or investments. However, certain data indicated below were obtained from agreements and other papers on file. The records reviewed do not indicate that this company was controlled by any individual or corporation on June 24, 1873, the date of consolidation, nor, on the other hand, that it then controlled any common-carrier corporation. The Ridgefield Park Railroad Company did not own any completed railroad on date of consolidation. It began the construction of a railroad from Ridgefield Junction, N.J., to Tappan, N.Y. According to the articles of consolidation the capital stock of this company was $500,000 par value, and was convertible at par into stock of the successor company. The accounting records of the successor company were not obtained, therefore, no information can be given regarding the amount of stock converted.

Rockland Central Railroad Company — Predecessor of The Jersey City and Albany Railroad Company

The Rockland Central Railroad Company was incorporated July 29, 1872, under the general laws of the State of New York. No accounting records of this company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings or investments. However, certain data indicated below were obtained from agreements and other papers on file. The records reviewed do not indicate that this company was controlled by any individual or corporation on June 24, 1873, the date of consolidation, nor, on the other hand, that it then controlled any common-carrier corporation. This company did not own any railroad on date of consolidation. According to the articles of consolidation the capital stock of this company was $520,000 par value and was convertible into stock of the successor company on the basis of two shares for one, or 50 per cent of par value. The records of the successor company were not obtained; therefore no information can be given regarding the amount of stock converted.

The Rockland Central Railroad Company — Predecessor of the Rockland Central Railroad Company

The Rockland Central Railroad Company was incorporated May 23, 1870, under the general laws of the State of New York. No accounting records of this company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings or investments. However, certain data indicated below were obtained from agreements and other papers on file. The records reviewed do not indicate that this company was controlled by any individual or corporation on July 29, 1872, the date of consolidation, nor, on the other hand, that it then controlled any common-carrier corporation. This company did not own any railroad on date of consolidation. According to the articles of consolidation, the stock of this company was to be exchanged at par for stock of the successor company, but the amount of outstanding stock is not stated. The records of the successor company were not obtained; therefore, no information can be given regarding the amount of stock exchanged.

Rockland Central Extension Railroad Company — Predecessor of the Rockland Central Railroad Company

The Rockland Central Extension Railroad Company was incorporated May 29, 1872, under the general laws of the State of New York. No accounting records of this company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings or investments. However, certain data indicated below were obtained from agreements and other papers on file. The records reviewed do not indicate that this company was controlled by any individual or corporation on July 29, 1872, the date of consolidation, nor, on the other hand, that it then controlled any common-carrier corporation. This company did not own any railroad on date of consolidation. According to the articles of consolidation, the stock of this company was to be exchanged at par for stock of the successor company, but the amount of outstanding stock is not stated. The records of the successor company were not obtained, therefore, no information can be given regarding the amount of stock exchanged.

The Syracuse, Ontario and New York Railway Company

Introductory

The Syracuse, Ontario and New York Railway Company was incorporated June 20, 1883, under the general laws of the State of New York.

This company was controlled on June 30, 1891, the date of merger, by the West Shore, through ownership of its capital stock. On the other hand, the records reviewed do not indicate that this company controlled any common-carrier corporation. The property of this company was operated by its own organization from the date it was acquired, September 1, 1883, until July 1, 1890. From the latter date until the date of merger its property was operated under lease as the Chenango branch of the West Shore, The New York Central and Hudson River Railroad Company, lessee. The accounts of the company for the results of corporate operations cover only the period of operation by its own organization. No income or profit and loss accounts were kept during the period of the lease. This company owned on the date of merger 42.70 miles of single-track, standard-gage, steam railroad extending from Syracuse to Earlville, N.Y.

Development of Fixed Physical Property

The 42.70 miles of road owned by The Syracuse, Ontario and New York Railway Company on the date of merger had been acquired from Harrison W. Gardiner, who had acquired it at a foreclosure sale on August 22, 1883, from The Syracuse, Chenango and New York Rail Road Company.

The Syracuse, Chenango and New York Rail Road Company

The Syracuse, Chenango and New York Rail Road Company was incorporated April 7, 1877, under the general laws of the State of New York. No accounting records of this company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. Whether The Syracuse, Chenango and New York Rail Road Company was controlled by any individual or corporation on August 22, 1883, the date of its sale, or whether it then controlled any common-carrier corporations, was not ascertained.

The property of the company was operated by its own organization from the date of acquirement thereof until the receivership, January, 1879. From that date until the date of sale its property was operated by a receiver. This company owned on the date of sale, 42.70 miles of single-track, standard-gage railroad, extending from Syracuse to Earlville, N.Y., all of which had been acquired from the Syracuse and Chenango Rail Road Company at public sale on March 17, 1877, by Thomas B. Fitch et al, by whose direction the sheriff of Onondaga County, N.Y., by deed dated April 16, 1877, conveyed the property to this company.

Syracuse and Chenango Rail Road Company

The Syracuse and Chenango Rail Road Company was incorporated May 14, 1873, under the general laws of the State of New York. No accounting records of this company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. Whether the Syracuse and Chenango Rail Road Company was controlled by any individual or corporation on March 17, 1877, the date of sale, or whether it then controlled any common-carrier corporations was not ascertained. The property of the company was operated by its own organization from the dates of acquirement thereof to date of sale. This company owned on the date of sale, 42.70 miles of single-track, standard-gage railroad extending from Syracuse to Earlville, N. Y., of which 25.22 miles was acquired July 28, 1873, from Alfred A. Howlett, assignee of The Syracuse and Chenango Valley Rail Road Company, and 17.48 miles was acquired by construction during 1874.

The Syracuse and Chenango Valley Rail Road Company — Predecessor of the Syracuse and Chenango Rail Road Company

The Syracuse and Chenango Valley Rail Road Company was incorporated April 16, 1868, under the general laws of the State of New York. No accounting records of this company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. Whether The Syracuse and Chenango Valley Rail Road Company was controlled by any individual or corporation on July 8, 1873, the date of sale, or whether it then controlled any common-carrier corporation was not ascertained. The property of the company was operated by its own organization from the date it was completed to April 25, 1873, when it was placed in the hands of an assignee. This company owned on the date of sale, 25.22 miles of single-track, standard-gage railroad extending from Syracuse to Earlville, N.Y., which had been acquired by construction during 1871 and 1872.

West Shore and Ontario Terminal Company, Formerly Named The Open Cut and General Storehouse Company

Introductory

The West Shore and Ontario Terminal Company was incorporated March 22, 1871, by special act of New Jersey as The Open Cut and General Storehouse Company. By certificate filed June 20, 1883, in New Jersey authority was obtained to change its name to West Shore and Ontario Terminal Company. The accounting records of this company prior to 1881 and for the period from May 24, 1886, to July 9, 1901, the date of its merger, were not obtained. For that reason only partial information can be given from the accounts regarding its financial dealings, corporate operations, or investments, The West Shore and Ontario Terminal Company was controlled on July 9, 1901, the date of merger, by the West Shore, through ownership of its capital stock. On the other hand, the records reviewed do not indicate that this company, itself, then controlled any common-carrier corporation. The property of this company was operated under lease, jointly by the New York, Ontario and Western Railway Company and the New York, West Shore and Buffalo Railway Company and its receiver, from October 24, 1882, to November 23, 1885. From November 23, 1885, to June 16, 1886, the property was operated by a receiver, and from the latter date to the date of merger, it was operated under lease by The New York Central and Hudson River Railroad Company. By whom the property was operated prior to October 24, 1882, could not be definitely determined. The property owned by the West Shore and Ontario Terminal Company on the date of merger consisted of terminals, sidetracks, grain elevator, freight houses, piers, and wharves at Weehawken, N.J.

Development of Fixed Physical Property

Details with respect to the construction of the terminals, sidetracks and other property of the West Shore and Ontario Terminal Company were not obtained. Further details with respect to the construction of the property of this company are stated in the chapter on development of fixed physical property of the West Shore.

The Weehawken Ferry Company

The Weehawken Ferry Company was incorporated March 25, 1852, by special act of New Jersey, for the purpose of operating a ferry from a point north of Deas' Point in Hudson County, N.J., to New York City, also to construct piers, wharves, and bulkheads. No accounting records of The Weehawken Ferry Company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. The records reviewed with respect to the data obtained do not indicate that The Weehawken Ferry Company was controlled by any individual or corporation on September 21, 1881, the date of sale, nor, that it then controlled any common-carrier corporation. It acquired a ferry in August, 1859, which it operated between Weehawken, N.Y., and Forty-second Street, New York City, to December 16, 1870, on which date it conveyed the ferry to the New Jersey Midland Railway Company. It continued to operate other terminal and water-front property to the date of foreclosure sale.

The Midland Terminal and Ferry Company, Formerly Named The Weehawken Transportation Company

The Midland Terminal and Ferry Company was incorporated March 22, 1871, by special act of New Jersey as The Weehawken Transportation Company. By act March 7, 1873, of New Jersey, authority was obtained to change its name to The Midland Terminal and Ferry Company. No accounting records of The Midland Terminal and Ferry Company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain information stated below was obtained from the accounting records of the successor and the agreement for merger dated May 29, 1883. The records reviewed do not indicate that The Midland Terminal and Ferry Company was controlled by any individual or corporation on June 19, 1883, the date of its merger, nor, on the other hand, that it then controlled any common-carrier corporation.

This company owned on the date of merger a ferry and terminal property at Weehawken, N.J.

The National Stock Yard Company

The National Stock Yard Company was incorporated March 16, 1869, by special act of New Jersey. No accounting records of The National Stock Yard Company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain information stated below was obtained from the accounting records of the successor and the agreement for merger dated May 29, 1883. The records reviewed do not indicate whether The National Stock Yard Company was controlled by any individual or corporation on June 19, 1883, the date of merger, nor, on the other hand, whether it then controlled any common-carrier corporation.