Wikipedia:WikiProject Trains/ICC valuations/Hudson River Bridge Company at Albany

Interstate Commerce Commission, Valuation Reports, Volume 27

Hudson River Bridge Company

Introductory

The Hudson River Bridge Company is a corporation of the State of New York, having its principal office at Albany, N.Y. The accounting records of the Hudson River Bridge Company that were obtained do not record any income account subsequently to 1885. For that reason, only partial information can be given from the accounts regarding its corporate operations. The Hudson River Bridge Company is controlled by The New York Central through ownership of a majority of its capital stock. On the other hand, the records do not indicate that this company, itself, controls any common-carrier corporation. The property of the Hudson River Bridge Company has been operated by The New York Central and its predecessors from the date of completion to date of valuation.

Corporate History

The Hudson River Bridge Company was incorporated April 9, 1856, under special act of the State of New York, authorizing the construction of a bridge across the Hudson River at Albany, N.Y. The date of organization has not been ascertainable from the records reviewed.

Development of Fixed Physical Property

The owned mileage of the Hudson River Bridge Company, 0.524 mile, including the two bridges spanning the Hudson River, was acquired by construction. The construction of the north or freight bridge was begun in May, 1864, and the bridge was put in service in April, 1866. The wooden spans were replaced with steel during 1872-1874. The construction of the south or passenger bridge was begun in April, 1870, and the bridge was put in service in 1872.

In the construction of the freight bridge, the superstructure was built by John Bridgeford, contractor. The substructure of the passenger bridge was built by Charles Newman and James Shanahan, contractors, and the superstructure by Kellogg, Clarke & Company, and Thomas Leighton, contractors. The records reviewed do not indicate that any of the contractors were affiliated with the company.

The records indicate that both bridges were renewed between 1899 and 1903.

Leased Railway Property

The Hudson River Bridge Company is operated by the New York Central under an implied lease by virtue of stock control. Details with respect to the operation of this property are given in the chapter on leased railway property in the report on the New York Central.