Wikipedia:WikiProject Trains/ICC valuations/Lake Erie, Alliance and Wheeling Railroad

Interstate Commerce Commission, Valuation Reports, Volume 27

The Lake Erie, Alliance & Wheeling Railroad
The railroad of The Lake Erie, Alliance & Wheeling Railroad Company, herein called the Lake Erie, Alliance & Wheeling, is a single- track branch line, within the State of Ohio, extending from Phalanx to Dillonvale, a distance of 87.673 miles.

Introductory
The Lake Erie, Alliance & Wheeling is a corporation of the State of Ohio, having its principal office at Cleveland, Ohio. The accounting records of the Lake Erie, Alliance & Wheeling covering the period from the date of organization to December 31, 1902, were abandoned as of the latter date, and new books were opened on January 1, 1903, the balances in the old books being disregarded. Although the Lake Erie, Alliance & Wheeling acquired title to its original property on March 16, 1901, it did not commence recording the results of the operations of its property in its books until April 1, 1901. The accounting data in this report, therefore, for the results of corporate operations, cover the period from April 1, 1901.

The Lake Erie, Alliance & Wheeling is controlled by the New York Central through ownership of the entire outstanding capital stock. On the other hand, the records do not indicate that this company, itself, controls any other common-carrier corporation.

The property of the Lake Erie, Alliance & Wheeling was operated by its own organization from April 1, 1901, to July 1, 1912. From this date to December 23, 1914, the property was operated under lease by The Lake Shore and Michigan Southern Railway Company, and from the latter date to date of valuation it has been operated under lease by the New York Central.

Corporate History
The Lake Erie, Alliance & Wheeling was incorporated January 25, 1901, under the general laws of the State of Ohio, for the purpose of constructing, operating and maintaining a railroad from Fairport, Lake County, to Bridgeport, Belmont County, Ohio, and further for the purpose of acquiring by lease or purchase of such railroads, franchises, etc., as may be necessary for carrying out the objects of its incorporation. Pursuant to this purpose, the Lake Erie, Alliance & Wheeling acquired by purchase the property, rights, and franchises of The Alliance and Northern Railroad Company, The Ohio River and Lake Erie Railroad Company and The Wheeling and Cleveland Railroad Company. The Lake Erie, Alliance & Wheeling, itself, and those corporations, together with their predecessors, total 12 different corporations, of which one underwent a change of name, and comprise the line of corporate succession culminating in the Lake Erie, Alliance & Wheeling 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 in the first column.

Development of Fixed Physical Property
The owned mileage of the Lake Erie, Alliance & Wheeling, amounting to 87.673 miles, was acquired partly by purchase and partly by construction. Of the 11 corporations that comprise the line of succession culminating in the Lake Erie, Alliance & Wheeling as at present constituted, nine corporations did not construct any road or other common-carrier property. These companies were:
 * The Alliance and Northern Railroad Company.
 * The Ohio River and Lake Erie Railroad Company.
 * The Lake Erie, Alliance and Southern Railway Company.
 * The Alliance and Lake Erie Railroad Company.
 * The Steubenville, Canton and Cleveland Railway Company.
 * Cleveland, Youngstown and Pittsburgh Railroad Company.
 * The Wheeling and Cleveland Railroad Company.
 * Cleveland and Wheeling Railroad Company.
 * The South Pennsylvania and Ohio Railway Company.

The property constructed by the remaining corporations and by the Lake Erie, Alliance & Wheeling, itself, the years when the various portions of the line were constructed, and the manner in which the Lake Erie, Alliance & Wheeling 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.

Mileage inventoried as of date of valuation. 87.673 miles.
 * Acquired by construction:
 * Constructed by the Lake Erie, Alliance & Wheeling—
 * Bergholz to Dillonvale, Ohio, about 1902. 27.67 miles.
 * Acquired through the syndicate managers:
 * From The Alliance and Northern Railroad Company, July 1, 1902. 25.20 miles.
 * Constructed by The Lake Erie, Alliance and Wheeling Railroad Company (of 1874), Phalanx to Alliance, Ohio, 1877. 25.20 miles.
 * From The Ohio River and Lake Erie Railroad Company, Mar. 16, 1901. 34.80 miles.
 * Constructed by The Cleveland, Youngstown and Pittsburgh Railway Company, Alliance to Bergholz, Ohio, 1883. 34.80 miles.
 * Difference between total recorded mileage and mileage inventoried as of date of valuation. .003 miles.

The records reviewed do not indicate whether the construction work performed for the Lake Erie, Alliance & Wheeling was done under contract or by the company's forces.

Leased Railway Property
The entire property of the Lake Erie, Alliance & Wheeling is leased to the New York Central for the term of its corporate existence. The terms of the lease and the rental accrued for the year ending on date of valuation are given in the chapter on leased railway property in the report on the New York Central.