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RE: (erielack) 1963 Notes

Gary, thanks for the clarification.

SGL 

> -----Original Message-----
> From: Gary R. Kazin [mailto:gkazin_@_yahoo.com] 
> Sent: Monday, April 02, 2007 10:59 PM
> To: EL Mail List
> Subject: RE: (erielack) 1963 Notes
> 
> --- Schuyler Larrabee <schuyler.larrabee_@_verizon.net> wrote:
> > > What does "CRP" stand for ("...ran the CRP up to Taylor...")? 
> 
> > CRP is the Central Railroad of Pennsylvania.  A separate
> > corporation which owned the NJ Central's lines in Pennsylvania,
> > which was a fabrication to satisfy legal niceties.  I don't
> > remember the details of WHY this was done, I just recall that it
> > WAS done.
> 
> The CRP was supposed to enable the CNJ to evade much of its property
> tax bill in New Jersey.  The courts stopped that.
> 
> > It seems to me that the WB&E was a similar situation with respect
> > to the NYS&W.
> 
> No.  The WB&E was incorporated separately from the NYS&W years after
> the line reached Gravel Place.  It raised money and built its own
> line, then was taken over by the NYS&W - the WB&E never owned any
> rolling stock.  That was a common procedure - an existing line would
> incorporate a new one to build an extension or new route.  It
> protected the old company from legal claims incurred by the new one.
> 
> The CRP was formed to take over ownership of the already existing
> parts of the CNJ in Pennsylvania, along with a substantial portion of
> the CNJ's rolling stock - the double-ended baby face Baldwins, for
> instance, were lettered CRP under the numbers.  Since the CRP was a
> PENNSYLVANIA corporation, it would not be subject to NEW JERSEY
> property taxes.  The various NJ governments impacted by this sued and
> the courts ruled the CRP a sham, formed only for the purpose of
> avoiding taxation in NJ and the CNJ was stuck.
> 
> Gary R. Kazin
> DL&W Milepost R35.7
> Rockaway, New Jersey
> 
> 
>  
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