Wikipedia:WikiProject Trains/ICC valuations/Long Dock Company

Interstate Commerce Commission, Valuation Reports, Volume 33

Long Dock Company

Location and General Description of Property

The railroad of the Long Dock Company, herein called the Long Dock Company, is located entirely within Jersey City and extends from the passenger station to Bridge Creek. This property, which forms a part of the Erie's principal main line, aggregates 2.882 miles of road, with 2.860 miles of second, 4.923 miles of third and 4.278 miles of fourth main tracks. This company also owns a large express building, at Jersey City, N. J., which is leased to the American Railway Express Company.

Introductory

The Long Dock Company is a corporation of the State of New Jersey, having its principal office at Jersey City, N. J. The accounting records of this company obtained cover the periods from date of its organization to May, 1873, and from June, 1911, on which date new books were opened, to date of valuation. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments for the period from June, 1873, to May, 1911. However, certain information indicated hereinafter has been taken from sources other than the accounting records of this company.

The Long Dock Company is controlled by the Erie through ownership of its entire outstanding capital stock. The records reviewed do not indicate that this company controls any common-carrier corporation.

The property of the Long Dock Company has been operated by various companies and their receivers from the date of completion to December 31, 1917, as follows:

New-York and Erie Rail-Road Company and its receivers Completion to Dec. 31, 1861.

Erie Railway Company and its receivers Jan. 1, 1861[sic], to May 31, 1878.

The New York, Lake Erie and Western Railroad Company and its receivers June 1, 1878, to Nov. 30, 1895.

Erie Railroad Company Dec. 1, 1895, to Dec. 31, 1917.

The property of the Long Dock Company was taken over for operation by the United States Railroad Administration on January 1, 1918, as a part of the system of the Erie and it is so operated on date of valuation.

Corporate History

The Long Dock Company was incorporated February 26, 1856, by special act of the State of New Jersey, for the purpose of constructing a railroad within the limits of Hoboken and Jersey City, N. J.; also to construct docks, piers, and bulkheads and establish a ferry at or near Pavonia Avenue, Jersey City, N. J. The date of organization was March 4, 1856.

Development of Fixed Physical Property

The owned mileage of the Long Dock Company, extending from Jersey City passenger station to Bridge Creek, N. J., 2.882 miles, was all acquired by construction and was completed in 1861. The construction work was performed by various contractors, none of whom appear to have been affiliated with the company.

Leased Railway Property

The property of the Long Dock Company was solely operated by the Erie from December 1, 1895, to December 31, 1917, under lease agreement executed with the New York, Lake Erie and Western Railroad Company, predecessor of the Erie, dated November 16, 1885. From January 1, 1918, to date of valuation the property of this company has been operated by the United States Railroad Administration as a part of the system of the Erie. Details with respect to the operation of this property are given in the chapter on leased railway property in the report on the Erie.