Kane and Elk Railroad

INTRODUCTORY

The carrier is a corporation of the State of Pennsylvania, having its principal office at Kane, Pa. The records do not indicate that any individual or corporation controls the carrier. However, its entire capital stock is held by individuals connected with the James Brothers Lumber Company. On the other hand, the records reviewed do not indicate that the carrier, itself, controls any other common-carrier corporations. The property of the carrier has been operated by its own organization during its entire life, except during the period from December 27, 1913, to October 19, 1914, when it was operated by a receiver.

CORPORATE HISTORY

The carrier was incorporated September 3, 1895, under the general laws of the State of Pennsylvania. The date of its organization was September 4, 1895.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The road owned by the carrier, extending from East Kane to Lamont, with a branch extending from McKinley to James City, all in the State of Pennsylvania, amounting to 9.058 miles, was acquired by purchase and construction, as indicated below:

Recorded mileage
Acquired from the James Brothers Lumber Company September 4, 1895, East Kane to McKinley (date of construction not obtained), originally constructed as a narrow-gauge road and reconstructed to broad gauge by the carrier in 1903 and 1904 5.75
Acquired by construction:
     McKinley to Lamont, constructed in 1896 and 1897 as a narrow-gauge road and reconstructed to broad gauge in 1903 and 1904 1.05
McKinley to Spring Creek, 1902-1903 2.00
Martinville Junction to Martinville, 1902-1903 2.90
Martinville Junction Branch extended in 1910  2.00  7.95
Total 13.70
Less mileage sold in 1907, McKinley to Spring Creek   2.00
Net total 11.70
Difference between total recorded mileage and mileage inventoried as of date of valuation   2.642
Mileage inventoried as of date of valuation 9.058

TRAFFIC CONNECTIONS

The carrier has connection for interchange of traffic with the road of The Pennsylvania Railroad Company at East Kane, Pa.

INVESTMENTS IN OTHER COMPANIES

The investments of the carrier in other companies on date of valuation are stated in its records at a total book value of $11,200, as follows:

Par value Book value
Stock in nonaffiliated company, Manufacturers Casualty Insurance Company $600 $1,200
Bonds of nonaffiliated company, American Plate Glass Company 10,000 10,000

The consideration recorded as passed in connection with the acquisition of these investments was $11,200 cash.


Original data source: Decisions of the Interstate Commerce Commission Vol. 119 pp 618, 620, 625
Interstate Commerce Commission
Washington, DC
1927

Although published in 1927, the report is "...as of date of valuation" which was 30 June, 1918


HTML by Robert T. Netzlof 18 October 2002
Typographical error corrected 20 January 2008
Find an error? Have a comment? Tell Bob.