Wikipedia:WikiProject Trains/ICC valuations/Valley Railroad (New York)

Interstate Commerce Commission, Valuation Reports, Volume 39

Location and General Description of Property
The railroad of The Valley Railroad Company, hereinafter called the Valley Railroad, is a double-track line located within the State of New York and extending from the Pennsylvania-New York State line to Binghamton, a distance of 11.089 miles. This road forms a part of the Lackawanna's main line between Hoboken and Buffalo.

Introductory
The Valley Railroad is a corporation of the State of New York, having its principal office at New York, N. Y. The accounting records of this company do not include the results of its corporate operations. The records reviewed do not indicate that the company is controlled by any individual or corporation, nor, on the other hand, that it controls any common-carrier corporation. The property of the Valley Railroad was operated by the Lackawanna from the spring of 1870, when it was opened for operation, to December 31, 1917, and by the United States Railroad Administration from that date to date of valuation as a part of the operating unit of the Lackawanna.

Corporate History
The Valley Railroad was incorporated March 4, 1869, under the general laws of the State of New York. It was organized April 12, 1869.

Development of Fixed Physical Property
The owned mileage of the Valley Railroad, amounting to 11.089 miles of main line from the Pennsylvania-New York State line to Binghamton, all in the State of New York, was acquired by construction between April, 1869, and the spring of 1870. The road was built by the Lackawanna for account of the Valley Railroad.

Leased Railway Property
The entire property of the Valley Railroad is leased to the Lackawanna for the term of its corporate existence from April 15, 1869. The terms of the lease and the rental accrued for the year ended December 31, 1917, are given in the chapter on leased railway property of the report on the Lackawanna.