Wikipedia:WikiProject Trains/ICC valuations/Tioga Railroad
Interstate Commerce Commission, Valuation Reports, Volume 33
Tioga Railroad
editLocation and General Description of Property
editThe railroad of the Tioga Railroad Company, herein called the Tioga Railroad, is a single-track line, located entirely within the State of Pennsylvania and extends from the New York-Pennsylvania State line to Blossburg, with branches projecting from Tioga Junction to Lawrenceville and from Blossburg to Morris Run, aggregating 42.897 miles. This property forms a part of the main line between State Line Junction, near Elmira, N. Y., and Hoytville, Pa.
Introductory
editThe Tioga Railroad is a corporation of the State of Pennsylvania, having its principal office at Susquehanna, Pa. The accounting records of the Tioga Railroad are so incomplete and fragmentary that nothing of value could be obtained from them 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, and from other sources.
The Tioga 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 Tioga Railroad was operated by its own organization from about 1852 to about 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
editThe Tioga Railroad was incorporated April 6, 1850, under special act of the Legislature of Pennsylvania for the purpose of reorganizing The Tioga Navigation Company and succeeding to the property, rights, and franchises of that company. The latter company was incorporated February 20, 1826, under special act of the Legislature of Pennsylvania, and its property, rights, and franchises passed to the Tioga Railroad about 1852, by right of corporate succession. The date of organization was January 5, 1852.
Development of Fixed Physical Property
editThe owned mileage of the Tioga Railroad, amounting to 42.897 miles, was acquired partly by virtue of corporate-right succession and partly by construction. The years when the various portions of the line were constructed and the manner in which the Tioga Railroad acquired the property are indicated in the following statement:
| Mileage | ||
|---|---|---|
| From The Tioga Navigation Company about 1852, constructed by that company— | ||
| Point near Lawrenceville to Blossburg, Pa., prior to 1841. | 27.000 | |
| Acquired by construction: | ||
| Blossburg to Morris Run, Pa., 1853. | 3.592 | |
| Tioga Junction to New York-Pennsylvania State line, 1876. | 11.392 | |
| Extension Morris Run branch, 1901-1902. | .282 | |
| 15.266 | ||
| 42.266 | ||
| Less portion of Morris Run branch abandoned in 1913. | .261 | |
| Total recorded mileage. | 42.005 | |
| Difference between total recorded mileage and mileage inventoried as of date of valuation. | .892 | |
| Mileage inventoried as of date of valuation. | 42.897 |
In the construction of the road built by the Tioga Railroad, the line extending from Blossburg to Morris Run, Pa., was constructed under contract by Gulick and Brewer, contractors. It was not determined by whom the line extending from Tioga Junction to the New York-Pennsylvania State line was constructed. The extension of the Morris branch [sic] was constructed by forces of the Erie.
Leased Railway Property
editThe property of the company, together with the property of The Arnot and Pine Creek Railroad Company and the Elmira State Line Railroad, which it held under lease, was operated by the Erie and its predecessors, from about 1885, to December 31, 1917. The common-carrier property of the Tioga 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.
Predecessor Company
editThe Tioga Navigation Company
editNo accounting records of this company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. Certain information stated below was obtained from a history of the Erie System, compiled by George H. Minor. The records reviewed did not indicate whether The Tioga Navigation Company was controlled by any individual or corporation on the date of its demise, about 1852, exact date unknown, nor, on the other hand, whether it controlled any common carrier corporation.
The railroad owned by the company consisted of 27 miles of single-track, steam railroad, extending from the Pennsylvania-New York State line, near Lawrenceville to Blossburg, Pa. This property was all acquired by construction. The records reviewed did not indicate whether the construction work was per formed by forces of the company or by contract. 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 Tioga Railroad.