The carrier is a corporation of the State of Pennsylvania, having its principal office at Philadelphia, Pa. It is controlled by the Pennsylvania Railroad Company through ownership of the entire outstanding capital stock. On the other hand, the records reviewed do not indicate that this carrier itself controls any common-carrier corporation. The property of the carrier was operated from May 1. 1886, to December 31, 1917, by the Pennsylvania Railroad Company, as agent, except during the period from June 15, 1903, to February 10, 1907, when it was operated by C. O. Templeton, as agent. On January 1, 1918, its common-carrier property was taken over for operation by the United States Railroad Administration, which still operates it at date of valuation.
The carrier was incorporated September 5, 1885, under general laws of the State of Pennsylvania, for the purpose of constructing and operating a railroad from the tracks of the Pennsylvania Railroad at or near Tipton to the mines of the Tipton Run Coal Company, a distance of about 5 miles, both termini being in Blair Couny, Pa. The date of organization of the carrier was September 5, 1885.
The owned mileage of the carrier, 3.636 miles, was all acquired by construction, during the period September to December, 1885. The road constructed extended from Tipton to its terminus at the Tipton Coal Company mines, 3.55 recorded miles. The difference between the recorded mileage and mileage inventoried as of date of valuation is 0.086 mile. Mileage inventoried as of date of valuation is 3.636 miles.
The entire property of the carrier is operated by the Pennsylvania Railroad Company under an agreement of February 13, 1907, which was effective from February 10, 1907. The terms of the agreement provide that the operation by the Pennsylvania Railroad Company is to be without benefit or loss to the carrier. The agreement runs indefinitely and is terminable upon 30 days' notice from either party. On January 1, 1918, the common-carrier property of the carrier was taken over for operation with that of the Pennsylvania Railroad Company by the United States Railroad Administration which still operates it at date of valuation.
|Original data source:||Decisions of the Interstate Commerce Commission Vol. 110 pp 549-549, 551|
Interstate Commerce Commission
Although published in 1926, the report is "...as of date of valuation" which was 30 June, 1918