The Johnsonburg Railroad is a corporation of the State of Pennsylvania, having its principle office at Philadelphia, Pa. The company is controlled by the Pennsylvania Railroad, through ownership of a majority of capital stock. The records reviewed do not indicate that this company controls any common-carrier corporation.
The property was operated by the Pennsylvania Railroad under lease from July 11, 1889, to September 30, 1908, and under an agency agreement from the latter date to December 31, 1917. On January 1, 1918, its common-carrier property, with that of the Pennsylvania Railroad, was taken over for operation by the United States Railroad Administration, which operates it at date of valuation.
The Johnsonburg Railroad was organized and incorporated March 14, 1887, under the general laws of the State of Pennsylvania, for the purpose of constructing and operating a railroad from Johnsonburg to Clermont, Pa., about 20 miles. The owned mileage, 19.623 miles, was acquired by construction. The years when various portions of the line were constructed are indicated in the following statement.
|Johnsonburg to Clermont, Pa., August, 1888, to July 11, 1889||19.620|
|Straight Creek branch, Straight Station Pa., to Terminus, 1894 to 1896||6.010|
|Less road abandoned Jan. 1, 1903, Straight Station, Pa., to Terminus||6.010|
|Net of above items||19.620|
|Difference between recorded mileage and mileage inventoried||0.003|
|Mileage inventoried as of date of valuation||19.623|
In 1894-1896, the Straight Creek branch of the Johnsonburg Railroad was built under an agreement dated September 12, 1894, between the Pennsylvania Railroad, Henry, Bayard and Company, and the Johnsonburg Railroad. Henry, Bayard and Company did the grading and built the bridges at their expense and the Pennsylvania Railroad, at its expense, furnished and placed the rails, ties, and fastenings on the roadbed constructed by Henry, Bayard and Company. Interest at the rate of 3 per cent was charged by the Pennsylvania Railroad on its recorded outlays aggregating $21,000, payable equally by Henry, Bayard and Company, Philadelphia and Erie Railroad Company and the Johnsonburg Railroad. The line thus built was operated by Henry, Bayard and Company under the agreement mentioned above, from the date of its completion until about January 1, 1903, when it was abandoned.
The entire property of the Johnsonburg Railroad is exclusively operated by the Pennsylvania Railroad under an agreement of October 14, 1908. The rent agreed on is a sum equal to the net revenue from railway operations resulting from the operations of the leased property. The agreement runs indefinitely and is terminable upon 30 days' notice from either party. On January 1, 1918, the common-carrier property was taken over for operation with that of the Pennsylvania Railroad by the United States Railroad Administration, which operates it on date of valuation.
The Johnsonburg Railroad uses jointly with the Pennsylvania Railroad its station facilities at Johnsonburg and Clermont, Pa. The Johnsonburg Railroad charged its miscellaneous rent account, in the year ended December 31, 1917, $100 as payment to the Pennsylvania Railroad for the joint use of these station facilities.
|Original data source:||Valuation Reports Vol. 23 pp 33, 37, 38|
Interstate Commerce Commission
Although published in 1929, the report is "...as of date of valuation" which was 30 June, 1918