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 Post subject: Re: Scrap Value?
PostPosted: Thu May 24, 2007 6:22 pm 

Joined: Thu Aug 26, 2004 2:50 pm
Posts: 2815
Location: Northern Illinois
pactrail wrote:
440 tons not including the aux. tender equals 44,000.00 in my book. Don't think you could buy her for that. According to GPRR's accounting she is booked at 1.4M.



Eh? I come up with the following weights from:
http://www.steamlocomotive.com/northern/reading/#specs

278,200 lbs over drivers
441,300 lbs total locomotive only
809,000 lbs total locomotive with fully loaded tender

Not sure if that is loco and tender empty, but total engine and tender in working order is only 404 tons, and nobody is going to pay for the water.

As to book value, that's totally irrelevant. If this does go to bankruptcy auction, the creditors have to take what they can get; they don't need a locomotive, whether it is in working order or not. There is always the possibility the former owner will buy it back, but we'd better hope there is someone there who is willing to out bid the scrap merchant.

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Last edited by Dennis Storzek on Fri May 25, 2007 12:52 am, edited 1 time in total.

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 Post subject: Re: Scrap Value?
PostPosted: Thu May 24, 2007 7:45 pm 

Joined: Sun Aug 22, 2004 5:19 pm
Posts: 2701
Location: Sackets Harbor, NY
When we attempted to find a qualified buyer for the 614 (1999-2000) through D.F.Barnhardt& Co. we did extensive advertising of the auction in magazines aimed at the rich and famous in addition to all the normal railroad publications. Despite strong rumors of interest from the likes of Bill Gates, Jerry Jacobson, Rick Corman and others the sole bid of any substance was from Mr. Andy Muller of the Reading&Northern and it was miles below ( I believe from memory his bid was $125,000) our minimum price. And that was for a far more modern (all roller bearing) machine which had just come off a highly successful 3 year mainline program pulling 24 car long trains at track speed PLUS thanks to NJTransit she had just been fully equipped with full HEP,event recorder, cab signal system with ATS,diesel control stand, 26 braking system etc.,etc.
Therefore it would seem entirely likely that unless someone totally unexpected comes out of the woodwork that the 2100 will probably not attract any interest above its scrap value???
Being a friction bearing machine it would be very difficult if not impossible to convince one of the Class 1's to let her run on the mainline, and it would be very difficult to find a regional with the infrastructure and population metrics needed for her to be self supporting.
Based on my calculations at todays scrap values I believe she's worth about $50,000 as is where is?????
It's also important to remember that for a buyer to purchase her for operating purposes he needs to add the cost of shipping her from Tacoma to his place, and doing the not incidental repairs now needed to make her a runner again. So it's far more than just the purchase price.
Sure hope by some miracle "Mr. Right" shows up and gives her another turn at bat!!!
Ross Rowland


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 Post subject: Re: Scrap Value?
PostPosted: Thu May 24, 2007 8:28 pm 

Joined: Sun Aug 22, 2004 1:51 pm
Posts: 12150
Location: Somewhere east of Prescott, AZ along the old Santa Fe "Prescott & Eastern"
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But 2100 is worth far more as an extant Reading 4-8-4.


Only--and I truly mean ONLY--if, AND WHEN, someone says so with an American Express card, a certified check, suitcase of gold bullion, etc. Until then, it's worth whatever someone's wiling to pay for it, and in the meantime it's as much a liability as an asset. Those who claim stored locomotives "don't each anything" own the real estate upon which the loco sits!

I once, in dead seriousness, asked a locomotive owner if he had any certified proof--a title, a bill of sale, anything--that proved that he actually owned said locomotive. His facetious answer, delivered with a sly grin, was "Well, it depends--are you trying to buy or rent it from me, or are you trying to bill me for siding storage?"


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 Post subject: Re: Scrap Value?
PostPosted: Thu May 24, 2007 8:31 pm 
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Location: Beaumont, Texas
This also explains why ships and boats; some quite historical and in immaculate condition, are heading off to India for scrapping. We haven't even mentioned the high cost of fuel.

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 Post subject: Re: Scrap Value?
PostPosted: Thu May 24, 2007 8:44 pm 

Joined: Sun May 15, 2005 2:22 pm
Posts: 1543
Why was this engine converted to oil?


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 Post subject: Oil conversion
PostPosted: Thu May 24, 2007 8:49 pm 

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Location: Somewhere east of Prescott, AZ along the old Santa Fe "Prescott & Eastern"
I think the all-purpose answer fits this: "It seemed like a good idea at the time....." <:-)


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 Post subject: Re: Oil conversion
PostPosted: Thu May 24, 2007 9:11 pm 

Joined: Thu Jun 16, 2005 11:54 am
Posts: 609
Anyone know, did this conversion use the a flow loop with a rear facing burner, or was it just a burner through the firebox door?

MX

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 Post subject: Re: Oil conversion
PostPosted: Thu May 24, 2007 9:26 pm 

Joined: Sun May 15, 2005 2:22 pm
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Alexander D. Mitchell IV wrote:
I think the all-purpose answer fits this: "It seemed like a good idea at the time....." <:-)


That's it? I would have thought the oil conversion was a carefully thought out decision based on fuel cost, emission issues, or fuel handling logistics. There must have been a substantial cost to make the conversion. I am surprised they would have done it on a whim.

RTK


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 Post subject: Re: Moderator's Warning: was Calling all Rdg. T-1 lovers
PostPosted: Fri May 25, 2007 12:15 am 

Joined: Fri Sep 09, 2005 9:04 am
Posts: 151
Location: Argos, Indiana
Les, I could not agree more...

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 Post subject: Re: Oil conversion
PostPosted: Fri May 25, 2007 2:01 am 

Joined: Thu Dec 01, 2005 2:42 am
Posts: 32
Location: Tualatin, OR.
mxdata wrote:
Anyone know, did this conversion use the a flow loop with a rear facing burner, or was it just a burner through the firebox door?

MX


Through the firebox door, or whats left of it.
Mike


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 Post subject: Re: Moderator's Warning: was Calling all Rdg. T-1 lovers
PostPosted: Fri May 25, 2007 6:51 am 

Joined: Sat Feb 11, 2006 10:42 am
Posts: 335
Location: Wyoming, DE
Point Taken.

I apologize for the neagative digression on my part. As for Steamtown what is done is done.

Undrescoring a point I made earlier, now that this thread has surpassed 20,000 views in almost 5 days again underscores the intensity of the subject. Albeit many of these are repeat views like myself, it still is significant.

For the past few years I have done a lot of investigation of steam and heritage rail ventures in South Africa and the UK. In the UK, I sense the overall enthusiasm for rail preservation is much more pervasive and taken more seriously than here in America. The UK, as a county is geographically much smaller than America effectively concentrating the effort. Despite that, it seems the UK public as a whole has a taste for vintage rail and vigorously supports it. In only one visit to the UK, I quickly picked up that the cost of living there is very high and in many cases the working salary is not always sufficiently high enough to have the level of "luxuries" that we have. Why is it that rail preservation is so prolific there? Perhaps its because everyone wants to be a part of something bigger than themselves as well as preserving history. We could learn from this in America.

This gets to my point of this post, there are many of us that have participated in rail preservation at one point in our lives and many of us wish the same interest and support existed here per capita as it does in the UK. However, it doesn't. This is where many of us get frustrated seeing good opportunity misdirected in a land of major opportunity.

Our frustration boils to the point of negative comments, which at times have been made. I need to keep reminding myself to channel the frustrastion into action. Action being when the R&N 425 gets on the road this fall, plunk the cash on the barrel head and ride behind her. If enough people do this, perhaps they would get the 2102 on the road again?? The same holds for the 2100, where ever she goes. Hopefully she is well placed and well marketed for her own survival but to vigerously and dramatically promote the cause of rail preservation in this country.

Cheers.

Randy Musselman


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 Post subject: Re: Oil conversion
PostPosted: Fri May 25, 2007 8:11 am 

Joined: Thu Jun 16, 2005 11:54 am
Posts: 609
Regarding the burner arrangement, with that burner placement it must have been a very interesting project to design a firebrick distribution that would compensate for the temperature gradient across the firebox and also provide an adequate heat sink.

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 Post subject: Re: Scrap Value?
PostPosted: Fri May 25, 2007 10:12 am 

Joined: Wed Jan 25, 2006 5:00 pm
Posts: 822
Location: NJ
Sorry to say, but yes they would and probably will sell her for scrap if that is the best they can do. You see in today's profit, power and greed motivated society, the buck rules. I hope it does get sold to a person or organization for restoration because you cannot call the local locomotive store and order a new one! If we destroy history, how do we teach our kids about it? Pictures just don't hold the same sway as touching and feeling do.

Later!
Mr. Ed


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 Post subject: Re: Scrap Value?
PostPosted: Fri May 25, 2007 1:42 pm 

Joined: Thu Jul 07, 2005 4:31 pm
Posts: 69
To sell to scrap to needs to be made such a bad PR move that any seller would not think of it.

I for one would work tirelessly to get word to anyone that will listen if such a event were even a possibility. I hope we can count on more prominent railfans and rail entrepreneurs then myself to help take up the cause of making sure any potential seller of 2100 knows that scrap is not an option.

We have lost several prominent locomotives over the years, most recently poor 5629 in the 1980's. As railfans we need to work together to be sure this never happens again.

Unfortunately due to the risky financial nature of any new venture involving steam, especially projects with large steam locomotives, there is the risk of large, mainly heartless, financial institutions gaining control of the priceless mechanical treasures that are steam locomotives. It needs to be made clear to these companies that steam locomotives, especially operable or near operable ones, are priceless American treasures that are not be disposed of in any destructive manor.

This kind of thing always makes me think. I have wondered before if the railfan community should push for new category of national treasure that would allow for the repair and refurbishment of a steam locomotive as need be but would forbid scrapping. It would make taking a risk on a new steam venture safer, especially if the loco itself was required as collateral.

Ok, I'll get off my soap box now, but any talk of scrapping any steam locomotive just makes my blood boil.


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 Post subject: getting ahead of ourselves
PostPosted: Fri May 25, 2007 1:59 pm 

Joined: Mon Jul 24, 2006 12:44 pm
Posts: 28
prr643 wrote:
To sell to scrap to needs to be made such a bad PR move that any seller would not think of it.

Unfortunately due to the risky financial nature of any new venture involving steam, especially projects with large steam locomotives, there is the risk of large, mainly heartless, financial institutions gaining control of the priceless mechanical treasures that are steam locomotives.


I do not imagine that a concern for bad publicity would temper a heartless financial institution. Their concern is definitely not one for railroad heritage!
Methinks that public relations (or in fact, industry relations) or heritage preservation just isn't a priority in this matter.

But really, folks, lets not speculate ourselves into a tizzy. It's too easy to paint this picture immediately into such dire straights as a locomotive in immediate peril that needs savin' by railroaders on a white horse. It is unfortunate that amid all of this consternation that the GPRR hasn't tried to refute or inform the claims being made here, as there have been a few vocal insiders on TO and Railway Preservation News in the past. We aren't entitled to be "in the know," but it would be progressive for the industry and this anthracite machine to have some facts at hand.

W.W.

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