The Philadelphia and Trenton is a corporation of the State of Pennsylvania, having its principal office at Philadelphia, Pa. The accounting records of the Philadelphia and Trenton that were obtained are incomplete and of a fragmentary nature. For these reasons only partial information can be given from the accounts in connection with its financial dealings, corporate operations, or investments.
The Philadelphia and Trenton is controlled by the Pennsylvania Railroad under its lease of the property of The United New Jersey Railroad and Canal Company, which company owns the majority of the outstanding capital stock of this company. On the other hand, the records do not indicate that this company controls any common-carrier corporation.
The property of the Philadelphia and Trenton was operated by its own organization from November 3, 1834, the date the first section of the road was opened for operation, to November 30, 1871. From December 1, 1871, to December 31, 1917, it was operated by the Pennsylvania Railroad. The common-carrier property of the company was taken over for operation by the United States Railroad Administration on January 1, 1918, as a part of the system of the Pennsylvania Railroad and is so operated on date of valuation.
The Philadelphia and Trenton was incorporated February 23, 1832, by special act of the Legislature of Pennsylvania, for the purpose of constructing and operating a railroad from Philadelphia, Pa., to the Pennsylvania-New Jersey State line near Trenton, N.J. The date of its organization was June 9, 1832.
The owned mileage of the Philadelphia and Trenton, 26.831 miles, was acquired partly by construction and partly by conveyance from the Pennsylvania Railroad under the terms of the lease agreement.
| Acquired by construction: | |||
| Pennsylvania-New Jersey State line to Kensington passenger station, Philadelphia, Pa., 1833-1834 | 26.07 | ||
| Tioga Street branch in Philadelphia, Pa., 1878 | 1.23 | 27.30 | |
| Less mileage sold, Tioga Street branch in Philadelphia, Pa. | 1.23 | 26.07 | |
| Acquired from the Pennsylvania Railroad, under lease agreement of June 30, 1871, by deed dated November 27, 1917, constructed by The Trenton Cut-off Railroad Company, connection with the Trenton branch of the Pennsylvania Railroad at Morrisville, Pa., 1890-1891 | 0.54 | ||
| TOTAL | 26.61 | ||
| Difference between recorded mileage and mileage inventoried | 0.221 | ||
| Mileage inventoried as of date of valuation | 26.831 | ||
The property of the Philadelphia and Trenton has been solely operated by the Pennsylvania Railroad from December 1, 1871, to December 31, 1917, under a lease dated June 30, 1871, for a period of 999 years. From January 1, 1918, to date of valuation the property of the company has been operated by the United States Railroad Adminstration as a part of the operating system of the Pennsylvania Railroad. Further details with respect to the operation of this property are given under leased railway property in the report on the Pennsylvania Railroad.
| Original data source: | Valuation Reports Vol. 22 pp 497-498, 510 Interstate Commerce Commission Washington, DC January 1929 |
Although published in 1929, the report is ...as of date of valuation
which was 30 June, 1918