Wikipedia:WikiProject Trains/ICC valuations/Elmira State Line Railroad

Interstate Commerce Commission, Valuation Reports, Volume 33

The Elmira State Line Railroad

Location and General Description of Property

The railroad of The Elmira State Line Railroad Company, herein called the Elmira State Line Railroad, is a single-track line, located within the State of New York and extends from State Line Junction near Elmira to the New York-Pennsylvania State line, 6.503 miles. This property forms a part of the main line between State Line Junction, N. Y., and Hoytville, Pa.

Introductory

Share of the Elmira State Line Railroad Company, issued 1 September 1876

The Elmira State Line Railroad is a corporation of the State of New York, having its principal office at Elmira, N. Y. No general accounting records of the company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated hereinafter were obtained from a balance sheet statement as of date of valuation, certified by the comptroller of the company, filed with us.

The Elmira State Line Railroad is controlled by the Erie through ownership of a majority of its outstanding capital stock. The records reviewed do not indicate that this company controls any common-carrier corporation.

The property of the Elmira State Line Railroad was operated by the Tioga Railroad Company from about the date it was completed, September 1, 1876, to some time in 1885. From that date to December 1, 1895, the property was operated by the New York, Lake Erie and Western Railroad Company and its receivers, and from the latter date to December 31, 1917, the property was operated by the Erie. The common-carrier property of this company was taken over for operation by the United States Railroad Administration on January 1, 1918, as part of the system of the Erie, and it is so operated on date of valuation.

Corporate History

The Elmira State Line Railroad was incorporated April 24, 1872, under the general laws of New York for a period of 100 years, to construct and operate a railroad from Elmira, N. Y., to a point near Lawrenceville, Pa. The date of its organization was June 19, 1872.

Development of Fixed Physical Property

The owned mileage of the Elmira State Line Railroad, 6.503 miles was constructed for it by the Tioga Railroad Company during the period from the fall of 1876 to about September 1, 1876.

Leased Railway Property

The common-carrier property of the Elmira State Line Railroad is operated on date of valuation by the United States Railroad Administration as part of the system of the Erie. Details with respect to the operation of this property are given in the chapter on leased railway property in the report on the Erie. The property was leased, effective September 1, 1876, to the Tioga Railroad Company, which lease was taken over, and the property was operated by the Erie and its predecessors, from about 1885 to December 31, 1917.