Wikipedia:WikiProject Trains/ICC valuations/Avon, Geneseo and Mount Morris Railroad

Interstate Commerce Commission, Valuation Reports, Volume 33

Location and General Description of Property
The railroad of the Avon, Geneseo and Mount Morris Railroad Company, herein called the Avon, Geneseo and Mount Morris, is a single-track, standard-gage, steam railroad, partly equipped for electric motive power, and located in western New York. The main line extends from Avon to Sonyea, 17.584 miles. The company also owns 2.664 miles of yard tracks and sidings. Its road thus embraces 20.248 miles of all tracks owned but not used.

The entire mileage of the Avon, Geneseo and Mount Morris is leased to the Erie Railroad Company. That portion of the road extending from Avon to Mount Morris, 15.345 miles, is operated by the Erie Railroad Company and forms a part of that carrier's electric line between Rochester and Mount Morris, N. Y. The remaining portion of the road extending from Mount Morris to Sonyea, N. Y., 2.239 miles, is subleased to and operated by The Dansville and Mount Morris Railroad. Further classification of the mileage used by each of the operating carriers is given in the trackage table in Appendix 1.

Physical Conditions Affecting Construction
The country traversed by this road is slightly rolling, the soil being a sandy loam.

Economic Conditions Relating to Traffic
The principal products of this region are those of the farm. In addition, salt is mined in this region.

Physical Characteristics of Road
The grading is light, averaging about 24,000 cubic yards per mile, all of which is common material. There are no bridges of importance on the road. The main track is laid principally with relay 80 pound rail upon pine, oak, and cedar crossties. The tracks are ballasted with gravel and cinders. About 16 miles of the road is equipped with a power pole line and trolley wire for the operation of electric equipment.

Introductory
The Avon, Geneseo and Mount Morris is a corporation of the State of New York, having its principal office at Mount Morris, N. Y. No accounting records of the Avon, Geneseo and Mount Morris were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated hereinafter were obtained from reports filed for the year ended December 31, 1917, with the State engineers, the Railroad Commissioners, and the Public Service Commission for the Second District of New York, and from the records of the Erie Railroad Company and two of its predecessors, the Erie Railway Company and The New York, Lake Erie and Western Railroad Company.

The records reviewed do not indicate that this company is controlled by any individual or corporation, or that it controls any common-carrier corporation.

The property of the Avon, Geneseo and Mount Morris has been operated during its corporate life as indicated below.

Entire property:
 * Own organization. May, 1860, to Dec. 31, 1871.
 * Erie Railway Company and its receivers. Jan. 1, 1872, to May 31, 1878.
 * The New York, Lake Erie and Western Railroad Company and its receivers. June 1, 1878, to Jan. 1, 1894.

Portion, Avon to Mount Morris, N. Y.:
 * The New York, Lake Erie and Western Railroad Company and its receivers. Jan. 2, 1894, to Nov. 30, 1895.
 * Erie Railroad Company. Dec. 1, 1895, to Dec. 31, 1917.

Portion, Mount Morris to Sonyea, N. Y.:
 * The Dansville and Mount Morris Railroad Company and its receiver. Jan. 2, 1894, to date of valuation.

The common-carrier property of the Avon, Geneseo and Mount Morris that was operated by the Erie Railroad Company was taken over for operation by the United States Railroad Administration on January 1, 1918, as a part of the system of the Erie Railroad Company, and it is so operated on date of valuation.

Corporate History
The Avon, Geneseo and Mount Morris was incorporated March 8, 1860, for a period of 100 years, under the general laws of New York, for the purpose of acquiring the property, rights, and franchises of The Geneseo Valley Railroad Company, which was done. On April 11, 1871, the charter of the company was amended authorizing an extension of its railroad. The date of organization was not determined. The company acquired by deed dated May 29, 1860, the property, rights, and franchises of The Geneseo Valley Railroad Company, which had been sold at foreclosure February 10, 1860.

The Geneseo Valley Railroad Company, the only predecessor of the Avon, Geneseo and Mount Morris, was incorporated July 22, 1857, under the general laws of New York. It was sold at foreclosure February 10, 1860, and was later acquired by the Avon, Geneseo and Mount Morris, as stated above.

Development of Fixed Physical Property
The owned mileage of the Avon, Geneseo and Mount Morris, amounting to 17.584 miles, was acquired partly by construction and partly by purchase after foreclosure. The property constructed by the company and its predecessor, the years when the two portions of the line were constructed, and the manner in which the company acquired the property are indicated in the following table: The records reviewed do not indicate whether the construction work performed for the Avon, Geneseo and Mount Morris was done under contract or by company forces.

Leased Railway Property
On January 1, 1872, the entire property of the Avon, Geneseo and Mount Morris was solely leased to the Erie Railway Company through an agreement dated December 27, 1871, whereby it was agreed that the lessee would pay $13,500 per annum, equal to 6 per cent per annum on $225,000 par value of capital stock outstanding, and $100 per annum for maintenance of investment organization. On February 26, 1896, a new lease was entered into by the Erie Railroad Company for the entire property of the Avon, Geneseo and Mount Morris which provided for a rental of $5,625 per annum for four years, $6,750 for the fifth year and $7,875 per annum thereafter, together with $100 per annum for organization expenses.

On January 2, 1894, that portion of the property of the company extending from Mount Morris to Sonyea, N. Y., 2.239 miles, was subleased by the receivers of The New York, Lake Erie and Western Railroad Company, successor of the Erie Railway Company, to the Dansville and Mount Morris at an annual rental of $300. The last described property has been operated by The Dansville and Mount Morris Railroad Company and its receiver from January 2, 1894, to date of valuation.

That portion of the property leased by the Erie Railway Company extending from Avon to Mount Morris, N. Y., 15.345 miles, was operated by that company and its successors, The New York, Lake Erie and Western Railroad Company and the Erie Railroad Company, and the receivers of the first two named companies, from January 1, 1872, to December 31, 1917. On January 1, 1918, the common-carrier property of the Avon, Geneseo and Mount Morris that was operated by the Erie Railroad Company was taken over for operation in connection with that of the Erie Railroad Company by the United States Railroad Administration, which still operates it on date of valuation.

The accounts of the Erie Railroad Company record that for the year ended December 31, 1917, it paid a rental of $7,975 for the property of the Avon, Geneseo and Mount Morris.

The Geneseo Valley Railroad
No accounting records of the company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated below with respect to the issuance of stock and bonds were obtained from articles of association and other documents on file.

The property was operated by its own organization from the date it was completed to the date of demise. The company owned on date of demise 15.356 miles of railroad, extending from Avon to Mount Morris, N. Y. This property was all acquired by construction. It is not known whether the construction work was performed by the forces of this company or by contract.