The Maryland, Delaware and Virginia Railway Company is a corporation of the States of Maryland and Delaware, controlled by the Baltimore, Chesapeake & Atlantic Railway Company. It owns and operates a single-track standard-gauge steam railroad extending from Love Point, Md., to Lewes, Del., a distance of 72.959 miles, with a branch from Queenstown, Md., to Centreville, Md., a distance of 5.385 miles, together with certain steamer lines operating out of Baltimore, Md.
The carrier was incorporated on January 30, 1905, in the States of Maryland and Delaware, for the purpose of consolidating the properties of the Maryland, Delaware and Virginia Railroad Company of Delaware, and the Maryland, Delaware and Virginia Railroad Company. Its principal office is at Wilmington, Del. The two predecessor companies had been previously incorporated on January 28, 1905, for the purpose of acquiring the properties of the Quenn Anne's Railroad Company, The Weems Steamboat Company and the Chester River Steamboat Company, and had a paper existence for two days prior to their consolidation to form the carrier.
The owned mileage was acquired by consolidation on January 30, 1905, from the Maryland, Delaware and Virginia Railroad Company of Delaware and the Maryland, Delaware and Virginia Railroad Company as follows:
Rail line, constructed by the Queen Anne's Railroad Company and opened for operation in sections during the period from 1898 to April 14, 1902, of which the portion located in Delaware, approximately 32 miles, had, on January 28, 1905, been purchased by the Maryland, Delaware and Virginia Railroad Company of Delaware and the portion located in Maryland, approximately 46 miles, had on the same day been purchased by the Maryland, Delaware and Virginia Railroad Company:
|Main line, Love Point, Md., to Lewes, Del.||72.959|
|Centreville Branch, Queenstown to Centreville, Md.||5.385|
Steamer Lines, which had on January 28, 1905, been purchased by the Maryland, Delaware and Virginia Railroad Company partly from the Weems Steamboat Company and partly from the Chester River Steamboat Company:
|Ferry line, Baltimore to Love Point, Md.|
|Rappahannock River Line--|
|Baltimore, Md., to Fredericksburg, Va.|
|Norfolk to Rappahannock, Va.|
|Potomac River Line, Baltimore, Md., to Washington, D. C.|
|Patuxent River Line, Baltimore to Lyon Creek, Md.|
|Chester River line, Baltimore to Crompton, Md.|
In addition to the above the carrier operates, under trackage agreement, over the tracks of the Delaware, Maryland and Virginia Railroad Company, from Lewes to Rehoboth, Del., 5.19 miles, and uses the passenger and freight stations of that company at Lewes, Del.
The carrier's investments in securities of other companies on date of valuation were as follows:
|Capital stock:||Par value||Book value|
|Centreville & Corsica River Steamboat Company||40,000.00||1.00|
|Chesapeake Wharf Company of Calvert County, Md.||6,800.00||3,400.00|
|Dares Wharf Company of Calvert County, Md.||2,650.00||2,650.00|
|Maryland & Delaware Telephone & Telegraph Company||10,170.00||1,017.00|
|Baltimore Aviation Company of Baltimore||50.00||1.00|
|Governors Run Wharf Company of Calvert County, Md.||1,000.00||1,000.00|
|Skinner Shipbuilding and Dry Dock Company of Baltimore City||11,111.10||5,555.55|
|West Point Telephone Company||50.00||1.00|
|Skinner Shipbuilding and Dry Dock Company, 5 per cent||703.70||527.78|
All of these securities were acquired as assets taken over in the consolidation with the exception of a par value of $450 of the Chesapeake Wharf Company stock acquired for $225 cash, the Baltimore Aviation Company stock acquired for $50 cash, and the Skinner Shipbuilding and Dry Dock Company stock and bonds which were received in exchange for a par value of $5,555.55 stock of William Skinner & Sons Shipbuilding and Dry Dock Company, of which $5,000 was acquired in the consolidation and $555.55 as a stock dividend. Closed transactions of minor importance have been omitted.
The carrier does not lease from or to other common carriers, property for its or their exclusive use. It uses under agreement the tracks of The Delaware, Maryland and Virginia Railroad Company from Lewes to Rehoboth, Del., a distance of 5.19 miles, and the joint passenger station and facilities at Lewes, Del. The carrier uses the tracks to Rehoboth for passenger-train service during the summer months and pays therefore 1.25 cents per passenger per mile. For use of the depots it pays a portion of expenditures by the operating company for maintenance and operation based on the number of tickets sold by each company.
The carrier enjoys as rights in public domain the use of Pier 8, Light Street, Baltimore, Md., at an annual rental of $3,150, under a 50-year lease from the mayor and council of Baltimore, Md., and also the use of the Seventh Street wharf and pier at Washington, D. C., leased by the commissioners of the District of Columbia to J. P. Stephenson and sublet to the carrier from April 1, 1912, to July 30, 1917, at an annual rental of $1,800.
|Original data source:||Decisions of the Interstate Commerce Commission Vol. 84 pp 499, 502-503 515-516, 522|
Interstate Commerce Commission
Although published in 1925, the report is "...as of date of valuation" which was 30 June, 1915