[PRCo] Re: WP 832

[Edward H. Lybarger]

One more essential item:  The cars were originally purchased by The West
Penn Electric Company (the overall parent) and leased 1-1-30 to Allegheny
Valley Street Railway Company.  On November 25, 1930, West Penn Securities
Department, Inc. was substituted for The West Penn Electric Company as
lessor.

The lease called for payments equal to 5% per year of the original actual
cost, plus an amount equal to 6% interest on the unamortized balance of thee
original actual cost.  In other words, the parent paid cash and charged the
subsidiary for the interest it could have earned on the cash (plus maybe a
wee bit extra?).

Now that your eyes have glazed over, I refer you to PUC Docket A-36920 if
you require more information!

Ed

-----Original Message-----
From: pittsburgh-railways-bounce at lists.dementia.org
[mailto:pittsburgh-railways-bounce at lists.dementia.org]On Behalf Of Fred
W. Schneider III
Sent: Thursday, June 07, 2001 10:51 AM
To: pittsburgh-railways at dementia.org
Subject: [PRCo] Re: WP 832



They were owned by West Penn Securities Corporation and leased first to
the Allegheny Valley Street Railway, and after 1937 to West Penn
Railways Company.  Sometime during WW2, when the purchase price had been
amortized, WPS sold the cars to WPRys ... I think for a very nominal
amount to transfer the equipment to the user's account.

John, look in the PUC indexes.  In order to transfer the lease from AVSR
to WPRC, PUC permission was needed.  You will find a very interesting
application that tells (pure bull shit) how much West Penn Railways
would spend adapting the cars to Coke Region needs in order to allow for
scrapping of the 600-606, 608-609 cars and perhaps some 200s.  All the
fancy work that was to be done to the lightweights was so much
goofiness.  About the only things that were done was the addition of an
additional anticlimber plate above the original on the 800s and a lower
one on the 280s and 700s so the 700s would not sheer off the top of an
830 in an accident.  They also added a bar across the end of the roof of
the 830s to keep the trolley rope from rubbing the roof.  The only paint
work involved those particular new parts!

John Swindler wrote:
>
> The curved side cars were leased to West Penn Railways.  May have been
owned
> and leased by another corporation within the West Penn corporate
structure.
> (Where's Ed when you need him.  oh yes, enroute from Harrisburg to little
> Washington.)  But as I understand it, would not appear on West Penn
Railway
> accounts as a depreciable asset.  It would appear as a leased property.
>
> Ed has the details.
>
> John
>
> >From: Kenneth Josephson <kjosephson at sprintmail.com>
> >Reply-To: pittsburgh-railways at dementia.org
> >To: pittsburgh-railways at dementia.org
> >Subject: [PRCo] WP 832
> >Date: Thu, 07 Jun 2001 03:15:15 -0700
> >
> >
> >
> >
> >Jim Holland wrote:
> >
> > > > ROGER Jenkins wrote:
> > >
> > > > Come on Jim, if WP didnt own #832, who did. Was it bought by someone
> > > > before abandonment.??
> > >
> > >         I said it was inadvertently left off the West Penn roster and
> >for this
> > > reason was not scrapped.
> > >
> > >         John then said it was never on the roster.
> > >
> > >         When Ed chimes in, he can probably tell us more.
> > >
> > >         Don't know what that all means.
> > >
> > >         But since it wasn't on the roster, it wasn't scrapped.
Because
> >it was
> > > spared, PERC stepped in and purchased the car.
> >
> >I'm going off topic again, but this reminds me of the story of Nevada
> >Northern
> >Railway's last steamer, Number 40. Railroad employess hid it in a far
> >corner of
> >the shop and management forgot about it. It was saved simply because
> >someone
> >"forgot" to send it to the scrappers. It is used today in tourist
service.
> >
> >Ken J.
> >
> >
>
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