Wikipedia:WikiProject Trains/ICC valuations/Sandy Valley and Elkhorn Railway

Interstate Commerce Commission, Valuation Reports, Volume 29

The Sandy Valley & Elkhorn Railway

Location and General Description of Property

The railroad of The Sandy Valley & Elkhorn Railway Company, herein called the carrier, is a single-track, standard-gage, steam railroad, located in southeastern Kentucky. The main Line extends southerly from Shelby Junction to Consolidation Mine No. 208, near Jenkins, a distance of 30.415 miles. The carrier also owns 14.792 miles of yard tracks and sidings. Its road thus embraces 45.207 miles of all tracks owned and used.

The carrier has trackage rights over 1.09 miles of track between Shelby Junction and Shelby, and has joint use of terminal facilities at Shelby, both owned by The Chesapeake and Ohio Railway Company.

Introductory

The carrier is a corporation of the State of Kentucky, having its principal office at Baltimore, Md. It is controlled by The Baltimore and Ohio Rail Road Company through ownership of the entire outstanding capital stock. On the other hand, the records reviewed do not indicate that the carrier controls any common-carrier corporation. The property of the carrier was operated from October 1, 1912, the date of its completion, to January 1, 1918, by its own organization. On the latter date its property was taken over by the United States Railroad Administration, which still operates it on date of valuation.

Corporate History

The carrier was incorporated August 4, 1902, under the general laws of the State of Kentucky. The date of organization was August 5, 1902.

Development of Fixed Physical Property

The road owned by the carrier extending from Shelby Junction to Consolidation Mine No. 208, near Jenkins, Ky., a distance of 30.415 miles, was acquired by construction during the years 1911 and 1912.

Leased Railway Property

The carrier uses, under trackage agreement, 1.09 miles of track, station buildings, and track water supply owned by The Chesapeake and Ohio Railway Company and located at Shelby, Ky. The term of use is for an indefinite period from January 1, 1915, and the stipulated annual payment is a portion of the cost of maintenance and operations based on engine and car movements. The recorded rental paid by the carrier for the year ending December 31, 1917, is $2,590.38.

The carrier uses on date of valuation, without formal agreement, equipment belonging to the Baltimore and Ohio, consisting of 5 steam locomotives, 5 freight-train cars, 4 passenger-train cars, and 2 units of work equipment.

The rentals for the steam locomotives were assessed at the rate of $40.98 per day at date of valuation. The rentals for the freight-train cars are assessed at a nominal rate of $1 per day. The rentals for the passenger-train cars are assessed at rates varying from 32 cents to 60 cents per day. A wrecking crane is assessed at a daily rental of $2.74 and a tool car at 50 cents per day. All of the foregoing rentals were charged to income account Hire of Equipment.