Re: You wreck, you buy ?
Paul Koehler <buygone@...>
I believe worked this way. The damaging RR would make an estimate of costs to repair car, would then contact the owing road to find the depreciated value. If cost to repair would exceed the deprecated value they would scrap the car and settle up with the railroad. On the other hand if the deprecated value was lower that the cost to repair, the damaging railroad could repair the car and return the car or repair the car pay the scrap value re-letter it and keep it.
Paul C. Koehler
From: STMFC@... [mailto:STMFC@...] On Behalf Of Charles R Yungkurth
Sent: Saturday, September 14, 2013 12:21 PM
Subject: Re: [STMFC] You wreck, you buy ?
Since no one else answered I've venture my understanding.
The railroad doing the damage contacts the owner as to what he wants to do about the car along with an assesment of the damage. If owner elects to scrap it the damaging railroad pays the owner the value of the car and then chooses whther to scrap it ot keep it. If the car is toraly destroyed the railroad having the wreck simply pays the current value of th car.
Often (especially in the case of flat cars or hoppers) the owner elects to have the body returned and then they bill the damaging company for repair costs. It is faily common to see hopper or flat bodies placed upside down on a flat car and shipped back to the owner. Have seen an occaisaon mech reefer body being sent on a flat car since these are expensive cars.
I've just recently heard about the whole idea of "you wreck, you buy" principle of acquiring cars from other railroads. Do any of you know the details about how this worked? Did a car have to have a certain amount of damage? Or require a certain percentage of the car's value before requiring the road that wrecked it to buy it?
I've found photos of various cars in the G&F shops that were not original purchases. So I'm wondering how this worked.