Wikipedia:WikiProject Trains/ICC valuations/Amsterdam, Chuctanunda and Northern Railroad

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AMSTERDAM, CHUCTANUNDA & NORTHERN
INTRODUCTORY

The Amsterdam, Chuctanunda & Northern is a corporation of the State of New York, having its principal office at Amsterdam, N. Y. There were no available accounting records of the Amsterdam, Chuctanunda & Northern for the period from the date of its organization to June 30, 1907. For that reason only partial information can be given from the accounts in connection with its financial dealings, corporate operations, or investments. The Amsterdam, Chuctanunda & Northern is controlled by individuals affiliated with the Amsterdam Linseed Oil Works through ownership of the entire outstanding capital stock. On the other hand, the records reviewed do not indicate that this company, itself, controls any common-carrier corporation. The property of the Amsterdam, Chuctanunda & Northern has always been operated by the New York Central and its predecessors. No formal agreement was executed until November 1, 1907.

CORPORATE HISTORY

The Amsterdam, Chuctanunda & Northern was incorporated September 23, 1879, under the general laws of the State of New York, for the purpose of constructing and operating a railroad from a point on the line of The New York Central and Hudson River Railroad Company (first corporation) in Amsterdam, N. Y., to the oil mills of Kellogg & Miller, owners of the Amsterdam Linseed Oil Works, a distance of about 1.5 miles. The date of organization of the Amsterdam, Chuctanunda & Northern has not been ascertainable from the records reviewed.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The property of the Amsterdam, Chuctanunda & Northern, consisting of right-of-way lands, grading, and masonry, on its line of 1.373 miles of railroad, was acquired by purchase from George and Lawrence Kellogg, affiliated with the firm of Kellogg & Miller of Amsterdam, N. Y., who were the incorporators of the company and owners of the Amsterdam Linseed Oil Works. The rails, ties, track fastenings, and ballast are the property of the New York Central. The details of the construction of the line, which was built in 1880-1881, are not ascertainable from the records reviewed. There is a difference of 0.127 mile hetween the mileage recorded by this company, 1.5 miles, and the mileage, 1.373 miles, inventoried as of date of valuation.

HISTORY OF CORPORATE FINANCING