Corporate Genealogy
Pittsburgh, Youngstown & Ashtabula

INTRODUCTORY

The Pittsburgh, Youngstown & Ashtabula is a corporation of the States of Ohio and Pennsylvania, having its principal office at Youngstown, Ohio. It is controlled by the Pennsylvania Company through ownership of a majority of the outstanding capital stock. On the other hand, the records do not indicate that the Pittsburgh, Youngstown & Ashtabula controls any carrier corporation. During the entire life of this company its property has been operated by the Pennsylvania Company, under lease agreement. The accounting records of the consolidating companies were closed as of December 31, 1905. For this reason the Pittsburgh, Youngstown & Ashtabula is considered, for accounting purposes, to date from January 1, 1906.

CORPORATE HISTORY

The Pittsburgh, Youngstown & Ashtabula was incorporated under the general laws of Ohio and Pennsylvania, through filing, in Ohio on January 13, 1906, and in Pennsylvania on January 16, 1906, articles executed on January 9, 1906, providing for the consolidation of the property, rights, and franchises of The Pittsburgh, Youngstown and Ashtabula Railroad Company and the New Castle and Beaver Valley Railroad Company. Letters patent were granted by the governor of Pennsylvania on February 1, 1906. The following chart shows the corporations comprised in the corporate history of the Pittsburgh, Youngstown & Ashtabula, their respective dates of incorporation, and manner and date of succession. Reference to each of these corporations is made in the last column by its respective number in the first column.

No. Name Incorporation Succession
1 The Pittsburgh, Youngstown & Ashtabula Railway Company. Under general laws of Ohio and Pennsylvania through articles of consolidation dated Jan. 9, 1906, filed in Ohio, Jan. 13, 1906, and in Pennsylvania, Jan. 16, 1906.
2 The Pittsburgh, Youngstown and Ashtabula Railroad Company. Under general laws of Ohio and Pennsylvania through articles of consolidation dated June 16, 1887, filed July 22, 1887, effective Aug. 1, 1887. Consolidated Jan. 6, 1906, with 15, to form 1.
3 Ashtabula, Niles and Youngstown Railroad Company. Under general laws of Ohio through articles of consolidation dated May 4, 1887, filed June 2, 1887. Consolidated June 16, 1887, effective Aug. 1, 1887, with 8 to form 2.
4 Ashtabula and Pittsburgh Railway Company. Under general laws of Ohio, Oct. 11, 1878. Consolidated May 4, 1887, effective June 16, 1887, with 7 to form 3.
5 The Ashtabula, Youngstown and Pittsburgh Rail Road Company. Under general laws of Ohio, Feb. 11, 1870. Sold at foreclosure Aug. 24, 1878, under a reorganization agreement of May 16, 1878, and conveyed by deed of Sept. 12, 1878, of George Driggs, commissioner, to a purchasing committee, who organized 4 and conveyed the property to it by deed of Oct. 31, 1878.
6 The Ashtabula and New Lisbon Rail Road Company. Under general laws of Ohio, Feb. 20, 1853. Part of property sold at foreclosure Apr. 17, 1869, and now forms part of Erie Railroad system; remainder sold Nov. 14, 1870 to 5.
7 The Alliance, Niles and Ashtabula Railroad Company. Under general laws of Ohio, Mar. 12, 1881. Consolidated May 4, 1887, effective June 16, 1887, with 4 to form 3.
8 Youngstown, Lawrence and Pittsburgh Railroad Company. Under general laws of Ohio and Pennsylvania through articles of consolidation dated May 3, 1887, effective June 1, 1887. Consolidated June 16, 1887, effective Aug. 1, 1887, with 3 to form 2.
9 New Brighton and New Castle Rail Road Company. Under general laws of Pennsylvania, Mar. 24, 1881. Consolidated May 3, 1887, effective June 1, 1887, with 10, to form 8.
10 Lawrence Railroad Company (1873). Under general laws of Pennsylvania and Ohio through articles of consolidation dated Apr. 23, 1873, effective May 16, 1873. Consolidated May 3, 1887, effective June 1, 1887, with 9, to form 8.
11 Youngstown & Canfield Railroad Company. Under general laws of Ohio, July 1, 1872 Consolidated Apr. 23, 1873, effective May 16, 1873, with 12, to form 10.
12 Lawrence Railroad Company (1865). Under general laws of Pennsylvania and Ohio through articles of consolidation dated June 29, 1865. Consolidated Apr. 23, 1873, effective May 16, 1873, with 11 to form 10.
13 Lawrence Railroad and Transportation Company (Pennsylvania). Under special act of Pennsylvania, Apr. 23, 1864. Consolidated June 29, 1865, with 14 to form 12.
14 Lawrence Rail Road and Transportation Company (Ohio). Under general laws of Ohio, June 6, 1864. Consolidated June 29, 1865, with 13, to form 12.
15 New Castle and Beaver Valley Railroad Company. Under special act of Pennsylvania, Feb. 6, 1862. Consolidated Jan. 9, 1906, with 2, to form 1
16 Pittsburgh, New Castle and Cleveland Rail Road Company. See 17 Sold at foreclosure Oct. 8, 1861, and conveyed by deed of trustee, of October, 1861, to John Ferguson, who, on June 27, 1862, assigned the property to 15. Deed of conveyance executed Mar. 21, 1863.
17 New Castle and Darlington Railroad Company. See 18 Name changed to 16, Jan. 31, 1857.
18 Nicholson Run and Pine Swamp Railroad and Coal Company. Under special act of Pennsylvania, Apr. 18, 1853. Name changed to 17, Mar. 13, 1856.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The Pittsburgh, Youngstown & Ashtabula owned on the date of valuation approximately 138 miles of road, all of which it acquired in the consolidation of January 9, 1906. In the following table are shown the years in which and the companies by which the several parts of the property were constructed and the manner in which they were acquired by the Pittsburgh, Youngstown & Ashtabula.

Acquired from New Castle and Beaver Valley Railroad Company, Homewood to New Castle, Pa., opened for operation Oct. 3, 1863 14.98
     (4.5 miles partly constructed by Pittsburgh, New Castle and Cleveland Rail Road Company.)
Acquired from the Pittsburgh, Youngstown and Ashtabula Railroad Company, constructed by--
The Pittsburgh, Youngstown and Ashtabula Railroad Company--
     Coverts to Walford, Pa., 1888 5.06
(Classified as sidetrack by The Pittsburgh, Youngstown and Ashtabula Railroad Company and the Pittsburgh, Youngstown & Ashtabula until 1906.)
Wampum to Lawrence Junction, Pa., 1891  5.75
Total 10.81
The Ashtabula, Youngstown and Pittsburgh Rail Road Company--
Ashtabula Harbor to Niles, Ohio, 1873 52.60
(Partly constructed by The Ashtabula and New Lisbon Rail Road Company.)
Niles to Girard, Ohio, 1873   5.43
Total  58.03
Liberty and Vienna Railroad Company, predecessor of Erie Railroad Company, 1871, acquired by The Ashtabula, Youngstown and Pittsburgh Rail Road Company by purchase on Aug. 25, 1871 5.25
The Alliance, Niles and Ashtabula Rail Road Company, east of Alliance to Niles, Ohio, 1882 24.90
New Brighton and New Castle Rail Road Company, Kenwood to Wampum Junction, Pa., 1884 12.54
Lawrence Railroad Company (1873), Canfield Junction, Ohio, to Foster's Coal Mines, 1874 4.06
(Partly constructed by Youngstown & Canfield Railroad Company.)
Lawrence Railroad Company (1865)--
Lawrence Junction, Pa., to Youngstown, Ohio, 1867-1868  17.13
(Partly constructed by Lawrence Railroad & Transportation Company (Ohio).)
Aggregate mileage constructed or purchased by The Pittsburgh, Youngstown and Ashtabula Railroad Company and its predecessors 132.72
Less mileage, Foster's Coal Mines to point 1.19 miles from Canfield Junction, Ohio, 1890   2.87 129.85
Total mileage acquired through consolidation 144.83
Less mileage abandoned or reclassified by the Pittsburgh, Youngstown & Ashtabula:
Portion of Alliance Branch in Niles, Ohio, abandoned 1906 0.66
Canfield Junction to end of branch, reclassified as sidetracks, 1908 1.19
Wampum Junction to Lawrence Junction, Pa., reclassified as other main tracks  5.42   7.27
Total recorded mileage owned 137.56
Difference between recorded mileage and mileage inventoried 0.008
Mileage inventoried as of date of valuation 137.568

In addition to the main-line mileage listed above, the Pittsburgh, Youngstown & Ashtabula had under construction on date of valuation an extension from Kenwood to Rochester, Pa., about 4.26 miles. Included in the mileage shown as constructed by The Pittsburgh, Youngstown and Ashtabula Railroad Company are 1.76 miles, near Girard, Ohio, acquired in 1874 from The Cleveland and Mahoning Valley Railway Company by exchange for 1.76 miles of road at the same place which had been constructed by The Pittsburgh, Youngstown and Ashtabula Railroad Company.

LEASED RAILWAY PROPERTY

The entire property of the Pittsburgh, Youngstown & Ashtabula has been operated by the Pennsylvania Company under lease since January 1, 1906. From January 1, 1906, to June 30, 1910, operation was under the terms of a lease dated January 16, 1906, effective for one year from January 1, 1906, and thereafter until terminated by 12 month's written notice by either party. From July 1, 1910, to date of valuation, operation was under the terms of a lease effective July 1, 1910, for a period of 999 years. Pennsylvania Company pays rental equal to the interest on the bonds of the Pittsburgh, Youngstown & Ashtabula, sinking-fund installments, organization expenses, and 7 per cent dividends on the capital stock. Improvements to the lessor's property made by the lessee are to be paid for by the lessor through the issuance of its securities. For the year ended on date of valuation the Pittsburgh, Youngstown & Ashtabula credited its income account with $999,271.07 as income from lease of road.


Original data source: Valuation Reports Vol. 23 550-553, 566
Interstate Commerce Commission
Washington, DC
January 1929

Although published in 1929, the report is "...as of date of valuation" which was 30 June, 1916


HTML by Robert T. Netzlof 18 April 2001
Valuation date corrected 7 July 2005
Typographical errors corrected 20 January 2008
Find an error? Have a comment? Tell Bob.