The Catonsville Short Line is a corporation of the State of Maryland, having its principal office at Baltimore, Md. There are no accounting or other records available for the period prior to January, 1904, and but incomplete records for the period subsequent thereto and no reports have been made to this Commission since that for the year ended June 30, 1896. Therefore, only partial information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data were obtained from the incomplete accounting records which are available and from this and other records and files. The Catonsville Short Line is controlled by Frank H. Calloway, on the date of valuation, through ownership of a majority of the outstanding capital stock. On the other hand, the records reviewed do not indicate that the Catonsville Short Line controlled any common-carrier corporation.
The return filed by the company in response to Valuation Order No. 20, Corporate History, states that the road was operated from the date of completion, November 1884, to December 31, 1897, by the Baltimore and Potomac Railroad Company, and from January 1, 1898, to December 31, 1917, by the company's own organization. From March 1, 1910, to the date of valuation, the road has been used only for freight service by the Philadelphia, Baltimore and Washington Railroad Company and its successor The Philadelphia, Baltimore and Washington Railroad Company. At the date of valuation, the agreement for operation was assumed by the Pennsylvania Railroad through its lease of the property of The Philadelphia, Baltimore and Washington Railroad Company, effective January 1, 1918.
From January 1, 1918, to the date of valuation, the rights of the Pennsylvania Railroad under the agreement for the use of the property of the Catonsville Short Line were exercised by the United States Railroad Administration.
The Catonsville Short Line was incorporated March 6, 1882, under the general laws of Maryland for the purpose of constructing and operating a steam railroad from a point on the Baltimore and Potomac Railroad near Baltimore to Catonsville, Md. The organization was effected upon the date of incorporation.
The owned railroad mileage of the Catonsville Short Line was acquired by construction. The work was begun in December, 1883, and the road was completed and opened for operation in November, 1884.
The railroad of the Catonsville Short Line is used for freight purposes only, under an agreement dated March 1, 1910, made with the Philadelphia, Baltimore and Washington Railroad Company which was assumed by The Philadelphia, Baltimore and Washington Railroad Company at its formation September 15, 1916, and by the Pennsylvania Railroad Company upon its lease of the property of the latter effective January 1, 1918. Under the agreement referred to the Catonsville Short Line receives 25 cents for each ton (2,000 lbs.) of freight transported upon its road and pays the cost of maintenance. The agreement runs indefinitely and is terminable upon 60 day's notice from either party. On January 1, 1918, the United States Railroad Administration assumed the rights and obligations of the Pennsylvania Railroad under the agreement described.
The incomplete accounts of the Catonsville Short Line do not afford sufficient information from which a general balance sheet statement of its affairs may be made.
|Original data source:||Valuation Reports Vol. 22 pp 395-396|
Interstate Commerce Commission
Although published in 1929, the report is "...as of date of valuation" which was 30 June, 1918