The Belvidere Delaware is a corporation of the State of New Jersey, having its principal office at Camden, N.J. It is controlled by the Pennsylvania Railroad through the latter's lease of the United New Jersey Railroad. The last named company owns a majority of its outstanding capital stock. On the other hand, the records do not indicate that this company controls any common-carrier corporation. The property of the Belvidere Delaware was operated from the date of its organization, February 16, 1885, to December 31, 1917, by the Pennsylvania Railroad. On January 1, 1918, its common-carrier property was taken over for operation by the United States Railroad Administration, which still operates it on date of valuation.
The Belvidere Delaware was incorporated February 16, 1885, under the general laws of New Jersey, for the purpose of acquiring and consolidating the property, rights and franchises of The Belvidere Delaware Rail Road Company and The Flemington Railroad and Transportation Company. Pursuant to the above purposes, the Belvidere Delaware acquired at its organization the property, rights and franchises of the two corporations named. It subsequently acquired, under terms of an agreement dated February 26, 1896, filed with the Secretary of the Commonwealth of Pennsylvania March 11, 1896, filed with the Secretary of State of New Jersey, April 14, 1896, the property, rights and franchises of the Enterprise Railroad Company, the Martins Creek Railway Company (New Jersey) and the Martins Creek Railway Company (Pennsylvania). The Belvidere Delaware, itself, and the above-named corporations total six different corporations and comprise the line of corporate succession culminating in the Belvidere Delaware as at present constituted. The following chart shows the names of the corporations, the respective dates of incorporation and for each predecessor the date and manner of succession. Reference to each of these corporations is made in the last column by its respective number shown in the first column.
|1||The Belvidere Delaware Railroad Company.||Under general laws of New Jersey, Feb. 16, 1885.|
|2||The Belvidere Delaware Rail Road Company.||Under special act of New Jersey, Mar. 2, 1836.||Consolidated Feb. 16, 1885, with 3 to form 1.|
|3||The Flemington Railroad and Transportation Company.||Under special act of New Jersey, Feb. 22, 1849.||Consolidated Feb. 16, 1885, with 2 to form 1.|
|4||Enterprise Railroad Company||Under general laws of New Jersey, July 26, 1884.||Merged Apr. 14, 1896, with 1.|
|5||Martins Creek Railroad Company (New Jersey).||Under general laws of New Jersey, Apr. 16, 1885.||Merged Apr. 14, 1896, with 1.|
|6||Martins Creek Railroad Company (Pennsylvania).||Under general laws of Pennsylvania, Apr. 14, 1885.||Merged Apr. 14, 1896, with 1.|
The mileage owned by the Belvidere Delaware, amounting to 80.25 miles, was all acquired by consolidation and merger.
The property constructed by the five corporations that comprise the line of corporate succession culminating in the Belvidere Delaware as at present constituted, the years when the various portions of the line were constructed, and the manner in which this company acquired the property are indicated in the following table, wherein, to facilitate comparison with the table showing corporate succession, the same order of corporations is maintained.
|Acquired by consolidation of Feb. 16, 1885:|
|From The Belvidere Delaware Railroad  Company, constructed by that company--|
|Trenton to Lambertville, N.J., 1849-1851||16.20|
|Lambertville to Phillipsburg, N.J., 1852-1854||34.50|
|Phillipsburg to Belvidere, N.J., 1855||13.59|
|Belvidere to Manunka Chunk, N.J., 1863-1864||3.20||67.49|
|From The Flemington Railroad and Transportation Company, constructed by that company, Lambertville to Flemington, N.J. 1853-1855||11.67|
|Acquired by merger of Apr. 14, 1896:|
|From the Enterprise Railroad Company, constructed by that company, Trenton (Coalport) to East Trenton, N.J., 1884-1885||1.50|
|From the Martins Creek Railway Company (New Jersey), constructed by that company, Martins Creek, N.J. to the Pennsylvania State line (middle of the Delaware River), 1885||0.14|
|From the Martins Creek Railway Company (Pennsylvania), constructed by that company, Martins Creek, Pa., to the New Jersey State line (middle of the Delaware River), 1885||0.15|
|Difference between mileage recorded and mileage inventoried as of date of valuation||0.70|
|Mileage inventoried as of date of valuation||80.25|
Note 1: I believe the ICC meant to say "Rail Road" here. Back
The books of the Belvidere Delaware do not record as such any investments in the securities of other companies. However, the following securities are held by the Commercial Trust Company of Philadelphia, trustee of the sinking fund for the retirement of consolidated mortgage bonds, due serially, from 1925 to 1943. A statement of the several securities recorded as of date of valuation, with their respective par value and book value, follows.
|Par value||Book value|
|Norfolk and Western Railway Company||5,000||5,200.00|
|Allegheny Valley Railway Company||24,000||23,765.60|
|Cambria and Clearfield Railway Company||76,000||76,000.00|
|Columbia and Port Deposit Railway Company||6,000||5,811.84|
|Connecting Railway Company||85,000||85,000.00|
|Grand Rapids & Indiana Railway Company||13,000||11,180.00|
|Pennsylvania Company (Series A, B, and C)||60,000||56,227.50|
|Pittsburgh, Cincinnati, Chicago and St. Louis Railway Company||42,000||41,400.00|
|Long Island Railroad Company, The||6,000||5,283.60|
|Uninvested cash in fund||------||929.22|
|Balance in fund on date of valuation||317,000||310,907.76|
The entire property of the Belvidere Delaware is leased to the United New Jersey Railroad for a term begun January 1, 1876, and to end June 30, 2870. The United New Jersey Railroad assigned its leasehold estate to the Pennsylvania Railroad and the terms of the lease and the rental accrued for the year ended December 31, 1917, are given in the chapter on leased railway property of the report on the Pennsylvania Railroad. On January 1, 1918, the common-carrier property was taken over for operation by the United States Railroad Administration, which operates it on date of valuation.
|Original data source:||Valuation Reports Vol. 22 pp 368-369, 380-381|
Interstate Commerce Commission
Although published in 1929, the report is "...as of date of valuation" which was 30 June, 1918