Corporate Genealogy
Northern Central Railway

INTRODUCTORY

The Northern Central is a corporation of the States of Maryland and Pennsylvania, having its principal office at Baltimore, Md. It is controlled by the Pennsylvania Railroad through ownership of a majority of its capital stock. On the other hand, the Northern Central controls, through ownership of either a majority of, or the entire outstanding capital stock, the Shamokin Valley and Pottsville Railroad Company whose common-carrier property was operated by the Pennsylvania Railroad Company on December 31, 1917, under lease and The Elmira and Lake Ontario Railroad Company whose common-carrier property was operated by the Pennsylvania Railroad on December 31, 1917, under an agency agreement. It controls jointly with the Philadelphia, Baltimore and Washington Railroad Company, through ownership of 58 per cent of its capital stock, the Union Railroad Company of Baltimore, whose property was operated on December 31, 1917, by its own organization.

The property of the Northern Central was operated by its own organization from December 16, 1854, to January 1, 1911; by the Pennsylvania Railroad from the latter date to December 31, 1917, and by the United States Railroad Administration from that date to date of valuation as part of the operating unit of the Pennsylvania Railroad.

CORPORATE HISTORY

The Northern Central was incorporated March 10, 1854, and May 3, 1854, by special acts of the States of Maryland and Pennsylvania, respectively, for the purpose of acquiring the property, rights, and franchises of The Susquehanna Railroad Company, the York and Maryland Line Rail Road Company, the York and Cumberland Railroad Company, and the Baltimore and Susquehanna Railroad Company. Pursuant to this this purpose, the Northern Central acquired at its organization the property, rights, and franchises of the four railroad corporations named. The Northern Central, itself, and those corporations, total five different corporations and comprise the line of corporate succession culminating in the Northern Central as at present constituted.

The following chart shows the names of the corporations, the respective dates of incorporation, the immediately succeeding corporation, and the manner of succession. Reference to each of these corporations is made in the last column by its respective number shown in the first column.

No. Name Incorporation Succession
1 The Northern Central Railway Company By special acts of Maryland and Pennsylvania through articles of union; dated Dec. 4, 1854; filed in Pennsylvania Dec. 16, 1854, and in Maryland on or about the same date.
2 Baltimore and Susquehanna Railroad Company By special act of Maryland, Feb. 13, 1828 Consolidated Dec. 16, 1854 with 3 4 and 5 to form 1.
3 York and Maryland Line Rail Road Company By special act of Pennsylvania, Mar. 14, 1832 Consolidated Dec. 16, 1854 with 2 4 and 5 to form 1.
4 York and Cumberland Railroad Company By special act of Pennsylvania, Apr. 21, 1846 Consolidated Dec. 16, 1854 with 2, 3 and 5 to form 1.
5 The Susquehanna Railroad Company By special act of Pennsylvania, Apr. 14, 1851 Consolidated Dec. 16, 1854 with 2, 3 and 4 to form 1.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the Northern Central, 146.433 miles, was all acquired on December 16, 1854, by consolidation, as follows:

Acquired from --
    Baltimore and Susquehanna --
    Constructed by that company, Baltimore, Md., to Maryland-Pennsylvania State line, 1829-1838 35.60
Hollins to Turnpike, 1831-1832 10.00 45.60
York and Maryland, constructed by that company, Maryland-Pennsylvania State line to York, Pa., 1836-1838 22.00
York and Cumberland, constructed by that company, York to Lemoyne, Pa., 1849-1851 26.00
Susquehanna Railroad, constructed partly by that company and completed by the Northern Central, Lemoyne to Sunbury, Pa., 1855-1858 54.00
147.60
Less road sold and abandoned 2.22
TOTAL 145.38
Difference between recorded mileage and mileage inventoried 1.053
Mileage inventoried as of date of valuation 146.433

INVESTMENTS IN OTHER COMPANIES

The investments of the Northern Central in other companies on date of valuation are stated in its records at a total book value of $4,435,726.73. A statement of the several investments with their respective par values and book values, follows:

Stocks: Par value Book value
     Affiliated carrier corporations--
     Union Railroad Company of Baltimore 1,225,000 1,175,000.00
Pennsylvania Railroad 142,000 142,000.28
Shamokin Valley and Pottsville Railroad Company 619,650 548,765.95
The Elmira and Lake Ontario Railroad Company 1,500,000 1.00
Northern Central Connecting Railway Company    220,900    220,900.00
Total 3,707,550 2,086,676.23
Affiliated noncarrier corporations--
Mineral Railroad & Mining Company 199,998 1.00
Central Elevator Company of Baltimore     40,000     40,000.00
Total 239,998 40,001.00
Other stocks:
Southern Pacific Company 1,848,700 1,833,340.86
Norfolk and Western Railway Company 103,000 105,575.00
Terminal Warehouse Company    100,000    100,000.00
Total 2,051,700 2,038,915.86
Bonds; affiliated carrier corporations, Sodus Bay and Southern Railroad Company 265,000 269,108.64
Other investments; miscellaneous, mortgages and ground rents receivable 1,025 1,025.00

LEASED RAILWAY PROPERTY

The entire property of the Northern Central is leased to the Pennsylvania Railroad for 999 years from January 1, 1911. The terms of the lease and the rental accrued for the year ended December 31, 1917, are given under leased railway property in the report on the Pennsylvania Railroad.


Original data source: Valuation Reports Vol. 22 pp 475-477, 495-496
Interstate Commerce Commission
Washington, DC
January 1929

Although published in 1929, the report is "...as of date of valuation" which was 30 June, 1918


HTML by Robert T. Netzlof 5 Feb. 2001
Content expanded 11 June 2002
Typographical errors corrected 19 January 2008
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