Wikipedia:WikiProject Trains/ICC valuations/Lackawanna and Montrose Railroad

Interstate Commerce Commission, Valuation Reports, Volume 39

Location and General Description of Property
The railroad of The Lackawanna and Montrose Railroad Company, herein called the Lackawanna and Montrose, is a single-track, standard-gage, steam railroad, located in northeastern Pennsylvania. The main line extends westerly from Alford to Montrose, 9.931 miles. The company also owns 1.803 miles of yard tracks and sidings. Its road thus embraces 11.734 miles of all tracks owned and used. The Lackawanna and Montrose is controlled by The Delaware, Lackawanna and Western Railroad Company and its railroad comprises the Montrose branch of the latter carrier's system.

Physical Conditions Affecting Construction
The country traversed by this road is rolling. The soil is sand and gravel, with considerable outcrop of sandstone and shale.

Economic Conditions Relating to Traffic
The principal products of this region are those of the dairy farm.

Introductory
The Lackawanna and Montrose is a corporation of the State of Pennsylvania, having its principal office at Montrose, Pa. It is controlled by The Delaware, Lackawanna and Western Railroad Company through ownership of a majority of its outstanding capital stock. On the other hand, the records do not indicate that this company controls any common-carrier corporation. The property of the Lackawanna and Montrose was operated by its own organization from the date of its completion, August 24, 1891, to December 31, 1917. On January 1, 1918, its common-carrier property was taken over for operation by the United States Railroad Administration, which still operates it on date of valuation.

Corporate History
The Lackawanna and Montrose was incorporated September 30, 1889, under the general laws of the State of Pennsylvania, and by letters patent of the Governor of Pennsylvania, for the purpose of constructing and operating a railroad between Alford and Montrose, Pa. The date of its organization was October 2, 1889.

Development of Fixed Physical Property
The owned mileage of the Lackawanna and Montrose, 9.931 miles, was all acquired by construction and was placed in operation August 24, 1891. The construction work was performed by independent contractors under the direction of The Delaware, Lackawanna and Western Railroad Company.

Leased Railway Property
On January 1, 1918, the common-carrier property of the Lackawanna and Montrose was taken over for operation in connection with that of The Delaware, Lackawanna and Western Railroad Company by the United States Railroad Administration, which still operates it on date of valuation.