The carrier is a corporation of the State of Pennsylvania having its principal office at Pittsburgh, Pa. It is controlled by The Pittsburgh, Cincinnati, Chicago and St. Louis Railroad Company through ownership of a majority of its capital stock. On the other hand, the records do not indicate that the carrier itself controls any other common-carrier corporation. The property of the carrier has been operated by its own organization during its entire life.
The carrier was incorporated under the general laws of Pennsylvania, approved April 4, 1868, and the several supplements thereto, especially the supplement approved March 18, 1875. Articles of association, dated May 15, 1875, were filed in the office of the secretary of state of Pennsylvania May 18, 1875, and letters patent were issued by the governor on the same date.
The property of the carrier was all acquired by construction. Work commenced in September 1875, and the entire line was open for operation in November, 1877. There is a difference of 0.029 mile between the recorded miles, 28.16, and the mileage in the inventory as of date of valuation. In the construction of the road the work was done partly by contractors and partly by the forces of the carrier.
The investments of the carrier in other companies on date of valuation are stated in its records at a total par value and book value of $190,000, consisting of a cash loan to The Pittsburgh, Cincinnati, Chicago and St. Louis Railroad Company in the amount of $190,000, which was classified by the carrier as loans and bills receivable. In addition to the above, the carrier acquired for cash during the period March, 1877, to January, 1893, as stated in its records, notes of individuals and companies having a par value of $3,799.29, which were recorded at a book value of $3,799.29. It disposed of notes of a par value and book value of $3,110.82 for cash at par, and charged notes of a par value and book value of $688.47 to the profit and loss account as uncollectible.
|Solely owned, but jointly used, used with The Pittsburgh, Cincinnati, Chicago and St. Louis Railroad Company, certain yard tracks and sidings at Washington, Pa.; annual rental 4 per cent per annum on valuation of property jointly used; maintenance and operation divided on basis of number of passenger and freight locomotives in and out; number of tons of freight handled at freight station; number of locomotives handled and amount of water supplied.||$2,782.60|
|Jointly used, but not owned, owned by The Pittsburgh, Cincinnati, Chicago and St. Louis Railroad Company; tracks, 0.82 mile of three-rail main track between Main and Chestnut Streets, Washington, Pa.; also three-rail yard tracks east of Main Street, freight and water stations, engine house, and other facilities. Annual rental 4 per cent per annum on valuation of property jointly used, divided on a basis of number of engines and cars of each company in and out of Washington monthly. The cost of maintenance of the tracks, including watch boxes and wages of crossing watchmen is divided on basis of total number of locomotives and cars in and out of Washington each month. The cost, including taxes, insurance, and assessments, of maintenance and operation of the freight-station facilities is divided on a platform-tonnage basis. The cost of maintenance and operation of the engine-house facilitiies is divided on the basis of the number of locomotives handled and of water-station facilities on the basis of the water furnished each company during Novemeber of each year.||1,703.14|
|Original data source:||Decisions of the Interstate Commerce Commission Vol. 121 pp 608-609, 615-616|
Interstate Commerce Commission
Although published in 1927, the report is "...as of date of valuation" which was 30 June, 1917