Wikipedia:WikiProject Trains/ICC valuations/South Buffalo Railway

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Location and General Description of Property
The railroad of the South Buffalo Railway Company, hereinafter called the carrier, is a single-track, standard-gage, steam railroad, located in New York. The main line extends southerly from a point near the Buffalo River in the city of Buffalo, through the plant of the Lackawanna Steel Company to a terminal yard at Lackawanna, a distance of 5.844 miles. The carrier also owns 14.584 miles of yard tracks and sidings. Its road thus embraces 20.428 miles of all tracks owned and used. In addition, the carrier leases from the Northern Operating Company 0.724 mile of yard tracks and sidings, extending from a connection with the carrier's tracks near the Hamburg-Lackawanna town line to a connection with the carrier's track leading to the Seneca Iron & Steel Company.

The carrier has trackage rights over about 57.66 miles of tracks owned by the Lackawanna Steel Company and located in and about the latter company's plant at Lackawanna, N. Y. It also has trackage rights over about 3 miles of road owned by The Delaware, Lackawanna & Western Railroad Company and leading to that company's station at Main Street, Buffalo, N. Y.

The carrier is an industrial railroad, serving principally the plant of the Lackawanna Steel Company, which controls the carrier.

Economic Conditions Relating to Traffic
The principal products of this region are fabricated steel and iron. The road serves the plant of the Lackawanna Steel Company and most of its revenue is derived from switching cars between that industry and connecting railroads.

Physical Characteristics of Road
The grading is principally embankment of slag from furnaces in the vicinity. There are two important bridges which carry the road over tracks of other carriers. The most costly structure is 846 feet in length and consists of two 91-foot, one 101-foot, one 112-foot, and one 110-foot through-plate girder spans, and one 184-foot and one 156-foot truss spans on two concrete and stone abutments and six concrete and stone piers. The other bridge is a through-truss span, 234 feet long, on two stone and concrete abutments.

The crossties in the main track average about 2,700 per mile and are oak and chestnut. The rail in the main track is principally 80 and 90-pound, most of which was new when laid. The tracks are ballasted chiefly with cinders.

Introductory
The carrier is a corporation of the State of New York, having its principal office at Lackawanna, N. Y. It is controlled by the Lackawanna Steel Company, through ownership of its entire capital stock except directors' qualifying shares. The records reviewed do not indicate that the carrier controls any common-carrier corporation. The property of the carrier has always been operated by its own organization.

Corporate History
The carrier was incorporated April 25, 1899, under the general laws of the State of New York, for the stated purpose of acquiring and operating a railroad to be located in and around Buffalo and Lackawanna, N. Y. The date of organization was May 17, 1899.

Development of Fixed Physical Property
The mileage owned by the carrier, 5.844 miles of main line and 14.558 miles of yard tracks and sidings, was acquired by it through construction. The greater part of the property was constructed under contract by Lothrop, Shea, and Kenwood, contractors, and was completed in 1902. The records reviewed indicate that the contractors were not connected with the organization or control of the carrier. Other portions of the property were constructed principally by the forces of the carrier, and were completed in 1907, 1908, 1910, and 1917.

Leased Railway Property
The carrier on date of valuation uses property owned by other companies and other companies use property owned by the carrier to the extent indicated in the statement below. The description of the property, the period and terms of use and the rentals accrued and charged or credited to income for the year ending on date of valuation are as follows:


 * Rentals
 * Solely owned, but jointly used; used with The Delaware, Lackawanna and Western Railroad Company:
 * Interchange tracks at Station C, at Buffalo, N. Y., stipulated payment of $350 per annum, of which $200 is classified as maintenance and $150 as rental. $150.00
 * Jointly used, but not owned; owned by—
 * Lackawanna Steel Company—
 * About 24.46 miles of main tracks and about 33.2 miles of yard tracks and sidings, in or near Lackawanna, N. Y., the carrier maintains the tracks, pays the taxes thereon, and in addition pays an annual rental equal to 5 per cent of the appraised value thereof. 17,736.76
 * The Delaware, Lackawanna and Western Railroad Company—
 * About 3 miles of track and passenger station at Buffalo, N. Y.; stipulated payment equal to 65 cents per train-mile. $2,276.66
 * Northern Operating Company—
 * Tracks, 0.724 mile, at or near Station H, at Lackawanna, N. Y.; stipulated payment equal to 50 cents per loaded car. 324.50
 * Solely used, but not owned; owned by—
 * Lackawanna Steel Company—
 * Six steam locomotives, terms not ascertained. ---