The carrier has no subscribers; neither does it own any buildings or land. Its business is carried on by the employees of the Maryland, Delaware and Viriginia Railway Company who act as agent for the company under terms of a contract dated July 1, 1908, and in effect at the date of valuation. This contract provides that the Maryland, Delaware and Virginia Railway Company shall use the plant and equipment of the carrier when and so often as desired for the transaction of its transportation business, and in consideration therefor furnishes the necesary offices and operators, pays a yearly rental of $500, gives the public access to its stations and premises for the purpose of using the telephone and forwarding telegrams, and collects for the telephone company the tolls which the latter prescribes for such use by the public. The carrier is obligated by this contract to maintain its plant and equipment and install telephone and telegraph apparatus only as the latter may desire.
The carrier is a corporation of the State of Delaware, having its principal office at Baltimore, Md. It is controlled by the Maryland, Delaware and Virginia Railway Company through ownership of a majority of its capital stock. On the other hand the records do not indicate that the carrier, itself, controls any other common-carrier corporations. The property of the carrier was operated by its own organization until July 1, 1908. From that date to date of valuation the property has been operated by the employees of the Maryland, Delaware and Virginia Railway Company, which acts as agent for the owners. Although the records reviewed indicate that the carrier was not incorporated until January 1, 1901, the accounts for the company record its financial dealings, corporate operations, and investments from May 5, 1897. No explanation of this discrepancy in dates was obtained.
The carrier was incorporated January 1, 1901, under the general laws of the State of Delaware. It was organized for the purpose of purchasing and operating the telephne and telegraph lines running along the right of way of the Queen Anne's Railroad from Queenstown, Md, to Lewes, Del., together with the branch lines to Centreville, Greensboro, Easton, Federalsburg, and Rehoboth.
The records reviewed indicate that the fixed physical property of the carrier, located in the States of Maryland and Delaware, was constructed partly by contract and partly by company forces during the period May 5, 1897, to November, 1901. The property thus constructed consists of a line of poles and wires between Love Point, Md, and Lewes, Del., and between Queenstown and Centreville, Md, located on the right of way of the Maryland, Delaware and Virginia Railway Company, a line of poles and wires between Wye Mills and Long Woods, Md, located along a public highway, and one wire between Long Woods and Easton, Md, supported on poles of the Delaware Railroad Company.
|Original data source:||Decisions of the Interstate Commerce Commission Vol. 121 pp 55-58|
Interstate Commerce Commission
Although published in 1927, the report is "...as of date of valuation" which was 30 June, 1915