Wikipedia:WikiProject Trains/ICC valuations/Saratoga and Schenectady Rail Road

Interstate Commerce Commission, Valuation Reports, Volume 116

The Saratoga and Schenectady Rail Road Company

Location and General Description of Property

The railroad of Saratoga and Schenectady Rail Road Company, hereinafter called the Saratoga and Schenectady, is a partly double-track standard-gauge steam railroad located in the east-central part of New York. The owned mileage extends northeastwardly from Schenectady to Saratoga Springs, a distance of 20.806 miles. The Saratoga and Schenectady owns second main-line tracks aggregating 11.394 miles. It also owns yard and side tracks totaling 45.375 miles. Its road thus embraces 77.575 miles of all tracks owned.

Introductory

As the result of a fire on May 10, 1862, no accounting or corporate records prior to that date were obtainable, excepting a cash book dating from January 1, 1861. The information here submitted was obtained from this cash book, the published reports of the State engineer and surveyor, the railroad commissioners of the State of New York, the Saratoga and Schenectady's reports to us, and the returns of the carrier on corporate history.

Corporate History

The Saratoga and Schenectady was incorporated February 16, 1831, under a special act of New York. The date of its organization can not be ascertained. On January 1, 1851, the property was leased to the Rensselaer and Saratoga, which operated it until May 1, 1871, when its lease was assigned to the carrier. The principal office of the Saratoga and Schenectady is located at Troy. The road from Schenectady to Ballston Spa was opened for operation on July 12, 1832, and from Ballston Spa to Saratoga Springs in 1833.

Development of Fixed Physical Property

The Saratoga and Schenectady constructed its road from Schenectady to Saratoga Springs, about 20.806 miles. The road from Schenectady to Ballston Spa was opened July 12, 1832, and from Ballston Spa to Saratoga Springs in 1833. During the period under lease the road has been double-tracked by the lessees for 11.394 miles of its length.

Leased Railway Property

The Saratoga and Schenectady, under date of October 14, 1850, leased its property to the Rensselaer and Saratoga for a term of 15 years from January 1, 1851, for considerations not of record. A new lease in perpetuity from July 1, 1860, was made on June 13, 1850. Under this lease the lessee paid annual rentals of $30,150 until January 1, 1866, and $31,750 thereafter. In addition, the lessee maintained the lessor's property and paid all taxes. On May 1, 1871, the Rensselaer and Saratoga assigned its lease to the carrier.