The Redstone Central is a corporation of the State of Pennsylvania, having its principal office at Brier Hill, Pa. Although the Redstone Central has been leased to the Monongahela Railway and the Monongahela Railroad since May 1, 1905, its books do not record any income from lease of road and no annual reports have been filed with this commission covering its operation. However, the books of the company record certain freight revenues collected by it from shippers during the years 1906, 1907, and 1908 on tonnage moved over its line by the Monongahela Railroad, and certain operating expenses as indicated hereinafter. The Redstone Central is controlled by the Brier Hill Coal Company through ownership of a majority of capital stock. The records do not indicate that this company controls any common-carrier corporation. The property of the company was operated by the Monongahela Railroad from the date it was placed in operation, May 1, 1905, to July 1, 1915. From the latter date to date of valuation, it has been operated by the Monongahela Railway.
The Redstone Central was incorporated December 18, 1902, under the general laws of Pennsylvania, for the purpose of constructing and operating a railroad from Dearth to the mouth of Redstone Creek, in Fayette County, Pa., about 15 miles. The date of organization was December 18, 1902.
The owned mileage of the Redstone Central, extending from Redstone Junction, south of Republic, to Brier Hill, Pa., 2.332 miles, was all acquired by construction during the period from July 1, 1902, to May 1, 1905. The construction work of the Redstone Central was all performed by numerous contractors and the Pennsylvania Railroad. The records reviewed do not indicate that any of the contractors were affiliated with the company. There is a difference of 0.058 mile between the mileage, 2.39 miles, recorded by this company, and the mileage, 2.332 miles, inventoried as of date of valuation.
The entire property of the Redstone Central is operated by the Monongahela Railway, without formal agreement.
|Original data source:||Valuation Reports Vol. 23 pp 73, 76|
Interstate Commerce Commission
Although published in 1929, the report is "...as of date of valuation" which was 30 June, 1916