The Bradford Railroad is a corporation of the State of Pennsylvania, having its principal office at Philadelphia, Pa. The accounting records of this company are incomplete, the only entries recorded therein being an issue of capital stock and a corresponding charge to the investment in road and equipment account. Therefore, the information shown by these entries is all that can be given from the accounts regarding its financial dealings and investments, and no information can be given from its accounts regarding its corporate operations. The Bradford Railroad is controlled by the Western New York and Pennsylvania Railway Company through ownership of its entire capital stock. On the other hand, the records do not indicate that this company controls any other carrier corporation. The property of the Bradford Railroad was operated from the date of its organization, June 30, 1911, to December 31, 1917, by the Pennsylvania Railroad. On January 1, 1918, its common carrier property was taken over by for operation by the United States Railroad Administration, which still operates it on the date of valuation.
The Bradford Railroad was incorporated June 30, 1911, under the general laws of Pennsylvania, for the purpose of acquiring and consolidating the property, rights, and franchises of the Olean, Bradford and Warren Railway Company and the Bradford Railway Company. Pursuant to the above purpose, the Bradford Railroad acquired at its organization the property, rights, and franchises of the two corporations named. The Bradford Railroad, itself, and those corporations total 3 different corporations, and comprise the line of succession culminating in the Bradford Railroad as at present constituted. The following chart shows the names of the corporations, the respective dates of incorporation and 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||Bradford Railroad Company||Under general laws of Pennsylvania June 30, 1911|
|2||Olean, Bradford and Warren Railway Company||Under general laws of Pennsylvania, Sept. 29, 1877||Consolidated June 30, 1911 with 3 to form 1.|
|3||Bradford Railway Company||Under general laws of Pennsylvania Jan. 7, 1881||Consolidated June 30, 1911 with 2 to form 1.|
The entire property of the Bradford Railroad is leased to the Western New York and Pennsylvania Railway Company for 999 years under the terms of agreements made by its predecessor and dated December 8, 1881. Its property is subleased to the Pennsylvania Railroad, and the terms of the lease are given in the chapter on leased railway property in the report on that company. On January 1, 1918, its common-carrier property was taken over for operation by the United States Railroad Adminstration, which still operates it on date of valuation.
|Original data source:||Valuation Reports Vol. 22 pp 382-383, 386|
Interstate Commerce Commission
Although published in 1929, the report is "...as of date of valuation" which was 30 June, 1918