Wikipedia:WikiProject Trains/ICC valuations/Cleveland and Mahoning Valley Railway

Interstate Commerce Commission, Valuation Reports, Volume 33

Location and General Description of Property
The railroad of The Cleveland and Mahoning Valley Railway Company, herein called the Cleveland and Mahoning Valley, is located entirely within the State of Ohio and extends from Hubbard, through Youngstown, to Cleveland, with branch lines from Girard to Hazleton and from Niles to Lisbon. This property, which aggregates 122.966 miles of road, with 77.009 miles of second main track, comprises that part of the principal main line extending from Hubbard to Leavittsburg, Ohio, via Youngstown.

Introductory
The Cleveland and Mahoning Valley is a corporation of the State of Ohio, having its principal office at Cleveland, Ohio. It is controlled by The Atlantic First Leased Lines Rental Trust, Ltd., of London, England, through ownership of a majority of its capital stock. On the other hand, the records do not indicate that this company controls any common-carrier corporation.

The property of the Cleveland and Mahoning Valley has been operated by other companies during its entire life. From the date it acquired its original road, August 14, 1872, until May 1, 1883, the property was operated by The New York, Pennsylvania and Ohio Railroad Company (consolidated company) and the predecessors of that company, and from the latter date until December 1, 1895, by the New York, Lake Erie and Western Railroad Company. From December 1, 1895, to December 31, 1917, it was operated by the Erie. The common-carrier property of the Cleveland and Mahoning Valley was taken over for operation by the United States Railroad Administration on January 1, 1918, as a part of the system of the Erie, and it is so operated on date of valuation.

Corporate History
The Cleveland and Mahoning Valley was incorporated August 14, 1872, under the general laws of Ohio, for the purpose of consolidating the property, rights and franchises of The Cleveland and Mahoning Railroad Company, Liberty and Vienna Railroad Company, and the Niles and New Lisbon Railway Company. The date of organization of the Cleveland and Mahoning Valley was not obtained.

Pursuant to the above purpose, the Cleveland and Mahoning Valley acquired at its organization the property, rights, and franchises of the three railroad corporations named. The Cleveland and Mahoning Valley itself and those corporations, together with their predecessors, total five different corporations and comprise the line of corporate succession culminating in the Cleveland and Mahoning Valley as at present constituted. The following chart shows the names of the corporations, the respective dates of incorporation, and for each predecessor the date of succession, the immediately succeeding corporation, and the manner of succession. Reference to each of these corporations is made in the last column by its respective number shown in the first column.

Development of Fixed Physical Property
The owned mileage of the Cleveland and Mahoning Valley, amounting to 123.324 miles, was acquired partly by consolidation and partly by purchase. The property constructed by the four corporations that comprise the line of succession culminating in the Cleveland and Mahoning Valley as at present constituted, the years when the various portions of the line were constructed, and the manner in which this company acquired the property are indicated in the following table, wherein, to facilitate comparison with the table showing the corporate succession, previously given, the same order of corporations is maintained.

Leased Railway Property
The property of the Cleveland and Mahoning Valley is leased to the Nypano Railroad Company for a term of 999 years from March 9, 1917, which company subleases the property to the Erie. It was solely operated by the Erie from December 1, 1895, to December 31, 1917, under lease agreement. From January 1, 1918, to date of valuation the common-carrier property of the Cleveland and Mahoning Valley has been operated by the United States Railroad Administration as a part of the system of the Erie. Details with respect to the operation of this property are given in the chapter on leased railway property in the report on the Erie.

The Cleveland and Mahoning Railroad
Introductory

The records do not indicate that The Cleveland and Mahoning Railroad Company was controlled by any individual or corporation at the date of its demise, August 14, 1872, nor, on the other hand, that it controlled any other common-carrier corporation. The property of this company was operated by its own organization from the date the first section of its road was placed in operation in August, 1856, to October 7, 1863. From that date to the date of demise the property was operated by The Atlantic and Great Western Railway Company under lease agreement.

The railroad owned by The Cleveland and Mahoning Railroad Company and operated by The Atlantic and Great Western Railway Company amounted to 81.951 miles of single-track, standard-gage, steam railroad, all in the State of Ohio. It consisted of one main line extending from Cleveland to Youngstown, Ohio, and two branch lines, one of which extended to a connection with the Westerman Coal and Iron Railroad at Ohio–Pennsylvania State line and the other to Hazelton, Ohio.

Development of Fixed Physical Property

The entire 81.951 miles of road owned by The Cleveland and Mahoning Railroad Company on the date of its demise had been acquired by construction. The records reviewed did not indicate whether the road was constructed under contract or by company forces. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Cleveland and Mahoning Valley.

Liberty and Vienna Railroad
The accounting records of the Liberty and Vienna Railroad Company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from the books of the Cleveland and Mahoning Valley. The records reviewed did not indicate whether the Liberty and Vienna Railroad Company was controlled by any individual or corporation on August 14, 1872, the date of its demise, nor, on the other hand, whether it controlled any common-carrier corporation.

The property of the company was operated by its own organization from the date of acquirement thereof to the date of demise. The railroad owned by the Liberty and Vienna Railroad Company consisted of approximately 7 miles of single-track, steam railroad, extending from Mosier to Coal Mines, Ohio. The entire 7 miles of road had been acquired by construction. The records reviewed did not indicate whether the road was constructed under contract or by company forces. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Cleveland and Mahoning Valley.

Niles and New Lisbon Railway
Introductory

The records reviewed do not indicate that the Niles and New Lisbon Railway Company was controlled by any individual or corporation on August 14, 1872, the date of its demise, nor, on the other hand, that it controlled any common carrier corporation. The property of the company was operated by its own organization from the date the first section of its road was placed in operation, in April, 1869, to the date of demise. The Niles and New Lisbon Railway Company owned on the date of its demise 35.504 miles of railroad extending from Niles to 3 miles beyond Lisbon, all in the State of Ohio.

Development of Fixed Physical Property

The entire 35.504 miles of road owned by the Niles and New Lisbon Railway Company on date of demise had been acquired by completion of construction begun by the New Lisbon Railway Company. An unknown portion of this road was constructed on right of way and partially graded roadbed acquired from interests who had previously acquired it from the New Lisbon Railway Company. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Cleveland and Mahoning Valley.

New Lisbon Railway
The accounting records of the New Lisbon Railway Company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. The records reviewed do not indicate that the New Lisbon Railway Company was controlled by any individual or corporation on July 19, 1869, the date of its demise, nor, on the other hand, whether it controlled any common-carrier corporation. This company owned on the date of its demise some right of way between Niles and New Lisbon, Ohio, on which an unknown amount of construction work had been done. The records reviewed do not indicate whether the work was performed by company forces or by contract.