Wikipedia:WikiProject Trains/ICC valuations/Zanesville Terminal Railroad
Interstate Commerce Commission, Valuation Reports, Volume 28
Zanesville Terminal Railroad
[edit]Introductory
[edit]The Zanesville Terminal Railroad is a corporation of the State of Ohio, having its principal office at Columbus, Ohio. It is controlled jointly by The Zanesville and Western Railway Company and The Cleveland, Akron and Cincinnati Railway Company in equal proportion through ownership of its entire capital stock. On the other hand, the records do not indicate that the Zanesville Terminal Railroad, itself, controls any common-carrier corporation.
The property of this company has been operated by other carriers under lease and operating agreements from the date of its incorporation to December 31, 1917. On January 1, 1918, its common-carrier property was taken over for operation by the United States Railroad Administration, which still operates it on date of valuation in connection with the properties of The Zanesville and Western Railway Company and The Cleveland, Akron and Cincinnati Railway Company; although no separate books were opened to record the Federal operations. At the time the property was taken over for operation by the United States Railroad Administration, that portion of the road between West Zanesville and Spangler, Ohio, was operated by the Pennsylvania Company as agent for the Zanesville Terminal Railroad.
Corporate History
[edit]The Zanesville Terminal Railroad was incorporated April 7, 1902, under the general laws of the State of Ohio. The following chart shows the names of the corporations, the respective dates of incorporation, and for its predecessor the date and manner of succession. Reference to these corporations is made in the last column by its respective number shown in the first column.
| No. | Name | Incorporation | Succession |
|---|---|---|---|
| 1 | The Zanesville Terminal Railroad Company. | Under the general laws of Ohio, Apr. 7, 1902. | |
| 2 | The Zanesville Terminal Railway Company. | Under the general laws of Ohio, Mar. 17, 1890. | Sold at foreclosure and conveyed May 7, 1902, to 1. |
Development of Fixed Physical Property
[edit]The owned mileage of the Zanesville Terminal Railroad, amounting to 4.686 miles, was acquired by purchase from The Zanesville Terminal Railway Company, which had been constructed by the latter company in 1890. The Zanesville Terminal Railroad has not constructed any additional mileage to date of valuation.
Leased Railway Property
[edit]Other companies used facilities owned by the Zanesville Terminal Railroad to the extent indicated in the statement below. The property of the Zanesville Terminal Railroad was taken over for operation by the United States Railroad Administration on January 1, 1918, in connection with the properties of The Zanesville and Western Railway Company and The Cleveland, Akron and Cincinnati Railway Company and is so operated on date of valuation. A description of the property, the period and terms of use, and rentals accrued and credited to income for the year ending December 31, 1917, are as follows:
- Owned but not used, leased to—
- The Zanesville and Western Railway Company—
- Tracks, 1.424 miles, Muskingum to Spangler, Ohio. Term Apr. 27, 1917 to Jan. 1, 1926, and thereafter from year to year until terminated by one year's notice. Annual rental $2,988.54 equal to 5 per cent per annum on a valuation of $59,770.80 plus cost of maintenance and taxes, $2,988.54 rental.
- Tracks, 0.29 mile between Market Street and connection with Zanesville Belt and Terminal Railway at Zanesville. Terms, annual rental $3,465.54 equal to 5 per cent per annum on a valuation of $69,310.75 plus maintenance, insurance and taxes, $3,465.54 rental.
- The Zanesville and Western Railway Company—
- Owned but jointly used with the Baltimore and Ohio Railroad Company, trackage rights:
- Tracks, 2.71 miles, West Zanesville to Spangler, Ohio; tracks, 0.22 mile at West Zanesville; rental $3.50 per train handled, or not less than $4,000 per year.
Predecessor Company
[edit]The Zanesville Terminal Railway Company
[edit]Introductory
The accounting records of The Zanesville Terminal Railway Company for the period January 31, 1898, to May 7, 1902, were not obtained. Therefore, complete information can not be given from the accounts regarding its financial dealings, corporate operations, or investments. The records reviewed do not indicate whether this company was controlled by any individual or corporation on May 7, 1902, the date of sale, or, on the other hand, whether it controlled any common-carrier corporation.
The property of this company was operated under lease agreement dated July 1, 1890, by The Columbus, Shawnee and Hocking Railway Company and its successors from date of completion until date of sale. The railroad owned by The Zanesville Terminal Railway Company on the date of sale amounted to 4.686 miles and consisted of a standard-gage, steam railroad, extending from Muskingum, Ohio to West Zanesville, Ohio, a distance of 4.396 miles, together with 0.29 mile of track at Zanesville, Ohio.
Development of Fixed Physical Property
The entire 4.686 miles of road owned by The Zanesville Terminal Railway Company on the date of sale was acquired by construction and was placed in operation some time in the year 1890. Construction work was performed by the Perry Construction Company. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on The Zanesville Terminal Railroad Company.