The carrier is a corporation of the State of New Jersey, having its principal office at New Egypt, N. J. The condition of the books of the carrier as of date of valuation does not permit the preparation therefrom of a statement of income and profit and loss. The carrier has filed reports with us each year since 1896, from which have been compiled the statements of income and profit and loss herein. The records reviewed do not indicate that the carrier is controlled by any individual or corporation on date of valuation, nor, on the other hand, that it controls any common-carrier corporation. It does not own any railroad, but had operated a portion of the railroad owned by the Pennsylvania and Atlantic from July 21, 1888, to date of valuation.
The carrier was incorporated July 17, 1888, under the general laws of the State of New Jersey, for the purpose of leasing and operating a portion of the road now owned by the Pennsylvania and Atlantic. Pursuant to this purpose the carrier leased the line between Pemberton and Hightstown, N. J., on July 31, 1888.
The carrier has connections for the interchange of traffic with the Pennsylvania Railroad Company at Pemberton, Lewistown, and Hightstown, N. J.
The carrier uses on date of valuation property owned by other companies, and another company uses certain of the property leased by the Union Transportation Company, as indicated in the statement below:
|Solely used, but not owned, leased from Pennsylvania and Atlantic, tracks and facilities extending from Pemberton to Hightstown, N. J., 24.416 miles, under 60-day contract dated July 31, 1888; stipulated payment of $500 per annum, payment of taxes and maintenance of the property||500|
|Solely leased, but jointly used, leased from Pennsylvania and Atlantic; used with the Pennsylvania Railroad Company, that portion of the line between Pemberton and Wrightstown, N. J., about 4.5 miles; stipulated rental $6000 per annum; maintenance of that portion of the line used and free use of terminal facilities at Pemberton and Hightstown.||6000|
|Jointly used, but not owned, owned by the Pennsylvania Railroad, certain terminal facilities at Pemberton, N. J., and about 0.98 mile of track and Facilities at Hightstown, N. J., no details||-----|
|Original data source:||Decisions of the Interstate Commerce Commission Vol. 133 pp 728, 730, 735|
Interstate Commerce Commission
Although published in 1928, the report is "...as of date of valuation" which was 30 June, 1918.