Wikipedia:WikiProject Trains/ICC valuations/Montgomery and Erie Railway

Interstate Commerce Commission, Valuation Reports, Volume 33

Location and General Description of Property
The railroad of The Montgomery and Erie Railway Company, herein called the Montgomery and Erie, is a single-track line, located entirely within the State of New York and extends from Goshen to Montgomery, 10.490 miles.

Introductory
The Montgomery and Erie is a corporation of the State of New York, having its principal office at Montgomery, N. Y. Although the railroad of the Montgomery and Erie was placed in operation about November, 1867, the records obtained do not record the detail of its income prior to January 1, 1872. Therefore, no information can be given from its accounts regarding its corporate operation prior to January 1, 1872, except the balance carried to profit and loss account as shown hereinafter.

The records reviewed do not indicate that the Mongomery[sic] and Erie is controlled by any individual or corporation, or that it controls any common-carrier corporation.

The property of the Montgomery and Erie has been operated from the date of its completion to December 31, 1917, by its own organization and by various companies and their receivers under lease, as follows:
 * Its own organization. Completion 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 Nov. 30, 1895.
 * The Erie. Dec. 1, 1895, to Dec. 31, 1917.

The property of the Montgomery and Erie 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 Montgomery and Erie was incorporated January 2, 1866, under the general laws of New York, for the purpose of constructing, maintaining, and operating a railroad from a point in Montgomery N. Y., to the line of the Erie Railway Company in Goshen, N. Y. Its organization was effected January 6, 1866.

Development of Fixed Physical Property
The owned mileage of the Montgomery and Erie, extending from a connection with the railroad of the Erie at Goshen to Montgomery, N. Y., 10.490 miles, was all acquired by construction and was completed and placed in operation about November, 1867. The construction work was begun by William H. Chesley, an independent contractor, and was completed by Thomas Edsall, an independent contractor.

Leased Railway Property
The property of the Montgomery and Erie was solely operated by the Erie or its predecessors and their receivers from January 1, 1872, to December 31, 1917, under lease agreement dated December 16, 1871. From January 1, 1918, to date of valuation the property of the company 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.