The Harrison and East Newark is a corporation of the State of New Jersey, having its principal office at Camden, N.J. No accounting records of the Harrison and East Newark were obtained for the period from the date of its organization to March 1, 1915, and the only entries recorded in the accounting records that were obtained for the period subsequent to that date are the opening entries on March 1, 1915. Therefore, only partial information can be given from its accounts regarding its financial dealings, corporate operations, or investments. The company has not filed any reports with this Commission to date of valuation. Certain data indicated hereinafter were obtained from its minute book.
The Harrison and East Newark is controlled by the Pennsylvania Railroad through ownership of the entire outstanding capital stock. On the other hand, the records do not indicate that this company controls any common-carrier corporation. The property of the Harrison and East Newark was operated by its own organization from the date of acquirement thereof, about October, 1898, to June 3, 1910. From that date to December 31, 1917, it was operated by the Pennsylvania Railroad without written agreement. On January 1, 1918, its common-carrier property was taken over for operation by the United States Railroad Administration as part of the operating system of the Pennsylvania Railroad and it is so operated on date of valuation.
The Harrison and East Newark was incorporated January 21, 1898, under the general laws of the State of New Jersey, for the purpose of constructing and operating about one-half mile of railroad in Harrison, N.J. The date of its organization was January 22, 1898.
The owned mileage of the Harrison and East Newark, consisting of 0.206 mile at Harrison, N.J., was acquired by construction during the period from January to about October, 1898. The records reviewed indicate that the construction work was performed under contract, but the name of the contractor, and his affiliation with the company, if any, could not be ascertained. There is a difference of 0.004 mile between the mileage recorded by the company, 0.210 mile, and the mileage, 0.206 mile, inventoried as of date of valuation.
The property of the Harrison and East Newark was solely operated by the Pennsylvania Railroad from June 3, 1910, to December 31, 1917, without written agreement. From January 1, 1918, to date of valuation the common-carrier property of the Harrison and East Newark has been operated by the United States Railroad Administration as a part of the operating system of the Pennsylvania Railroad. Details with respect to the operation of this property are given in the chapter on leased railway property in the report on the Pennsylvania Railroad.
|Original data source:||Valuation Reports Vol. 22 pg 454-455|
Interstate Commerce Commission
Although published in 1929, the report is "...as of date of valuation" which was 30 June, 1918