Syracuse Consolidated Street Railway
| Overview | |
|---|---|
| Headquarters | Syracuse, New York |
| Locale | Syracuse, New York |
| Dates of operation | 1890–1896 |
| Successor | Syracuse Rapid Transit Railway |
The Syracuse Consolidated Street Railway, chartered on May 22, 1890, in Syracuse, New York. On July 1, 1890, the company leased, in perpetuity, several street railroads in the city including Third Ward Railway, Fourth Ward Railroad, Fifth Ward Railroad, Seventh Ward Railroad, Eleventh Ward Railroad, Genesee and Water Street Railroad, Woodlawn and Butternut Street Railway, Syracuse and Geddes Railway and New Brighton and Onondaga Valley Railroad. The rail ran a total distance of 24 miles (39 km) and had branches every 3 miles (4.8 km).[1]
The company filed for bankruptcy in 1893 and merged with the Syracuse Rapid Transit Railway Company in May 1896.[2]
History
The company operated 20 miles (32 km) of road with the Thomson-Houston system of electricity and the remaining 4 miles (6.4 km) with horse power.[1]
At the time of the consolidation, the rail included all the roads in Syracuse except the Central City Railway, the Syracuse and Onondaga Railway and the People's Railroad.[3]
The street railway fell into bankruptcy and a receiver was appointed in December 1893.[1]
Operations
The railroad had a rolling stock of 63 box, 21 open and 31 motor cars. The year ending December 31, 1893, a total of 4,745,204 passengers rode on the line and gross earnings for the company were $233,133. Operating expenses were $196,197 and net earnings were $36,936 with a $31,278 deficit for the year due to costs of interest and taxes.[1]
The financial statement at the end of June 1893, showed capital stock of $1,250,000 with funded debt of $1,242,000 due July 1, 1920.[1]
Total cost of the road was $2,605,052.[1]
Company management
Nine of the first board of thirteen directors were Syracusans, as follows: John Dunn, Jr., Manning C. Talmer, Louis Marshall, Theodore L. Poole, Fred C. Eddy, Hamilton S. White, William S. Andrews, Bruce S. Aldrich and John H. Kaufmann.[3]
During 1894, directors of the company were W. W. Hazzard, H. C. Ford, George E. Herrick, all of Cleveland, Ohio, W. R. Kimball, Paul T. Brady, C. L. Stone, W. P. Gannon, all of Syracuse, New York and Clarence H. Wildes of Riverdale, New York.[1]
Company officers were P. J. Mack, recorder of Syracuse; president was W. W. Hazzard; vice-president was P. T. Brady; secretary was W. P. Gannon; treasurer was W. R. Kimball; E. F. Rice was general manager; and J. H. Moffett was superintendent. Both were from Syracuse where the principal office was located.[1]
Syracuse Street Railway Company
Both the Consolidated and People's Railroad were purchased by a syndicate on December 20, 1892, with formal control of the company taken on January 1, 1893. Legal complications followed from holders of minority stock of the Consolidated who refused to part with their holdings at the price paid for the remainder of the stock. There were injunctions, arguments, delays and then a mortgage foreclosure with a sale to the secretary of the bondholders' committee for $865,000 on August 17, 1895. The consolidation was consummated on August 24, 1896, under the name of the Syracuse Street Railway Company which had been incorporated on April 20, 1894, with capital stock of four million dollars.[4]
By the time 1895 was over, the Syracuse Street Railway Company ridership increased a total of 665,141 passengers since the previous year and the Consolidated lost 330,740 riders. During 1895, the Grace Street line to Delaware Street was built and was open for business on December 28, 1895.[4]
Powerhouse buildings were begun in Tracy Street in 1894 and the company started further work in 1896. That same year, the street car barns in South Salina and Tallman streets were commenced.[4]
The Syracuse Street Railway Company ran into problems and on March 7, 1896, E. B. Judson and W. Judson Smith were appointed receivers.[4]
Syracuse Rapid Transit railway
On May 21, 1896,[2] the Syracuse Rapid Transit Railway Company was incorporated for approximately four million dollars and by August 26, 1896, the Onondaga County sheriff sold the Syracuse Street Railway Company property upon mortgage foreclosure to the reorganization committee. The consolidation of the roads was completed on September 1, 1896.[4]
References
- ^ a b c d e f g h Poor, Henry Varnum. Manual of the railroads of the United States, Volume 27. Poors, 1889 p. 85; 317. Retrieved February 18, 2011.
- ^ a b American street railway investments. The Street Railway Publishing Company, 1899 p. 262. Retrieved February 18, 2011.
- ^ a b Bruce, Dwight Hall. Memorial history of Syracuse, N.Y., from its settlement to the present time. Electronic Library, 2011. Retrieved July 5, 2011.
- ^ a b c d e Beauchamp, Rev. William Martin. "Past and present of Syracuse and Onondaga county, New York (Volume 1)". New York: S. J. Clarke Publishing Co., 1908. Retrieved January 14, 2012.