Wikipedia:WikiProject Trains/ICC valuations/Valley Railroad (Virginia)

Interstate Commerce Commission, Valuation Reports, Volume 42

Location and General Description of Property
The railroad of The Valley Rail Road Company, hereinafter called the Valley Railroad, is a single-track line, located entirely within the State of Virginia and extends from Harrisonburg to Lexington, a distance of 61.224 miles. This property, which forms a part of the line between Harpers Ferry, W.Va., and Lexington, Va., is separated from other parts of the Baltimore and Ohio system, and is reached by means of trackage rights.

Introductory
The property of the Valley Railroad has been operated by the Baltimore and Ohio from the date the first section of the road was opened for operation, April 1, 1874, to December 31, 1917. Since January 1, 1918, it has been operated by the United States Railroad Administration as part of the Baltimore and Ohio system,

Corporate History
The Valley Railroad was incorporated February 23, 1866, under special act of Virginia, for the purpose of constructing a railroad through the Valley of Virginia. The date of organization was April 23, 1867.

Development of Fixed Physical Property
The owned mileage, 61.224 miles, was all acquired by construction. The section from Harrisonburg to Staunton, Va., 25.60 miles, was constructed from 1871 to April 1, 1874; from Staunton to East Lexington, Va., 34.73 miles, from 1880 to November 1, 1883; and at Lexington, Va., 0.98 mile in 1883. The foregoing, 61.31 miles, was increased 0.11 mile in 1918 by transfer from sidetrack to main track and reduced 0.19 mile in 1918 by transfer from main track to sidetrack. The difference between total recorded mileage and mileage inventoried as of date of valuation is 0.006 mile.

Besides the above the Valley Railroad owns a partially constructed line between Lexington and Salem, Va., known as the "Salem Extension." Construction work was begun in October 1873, but suspended in November 1874, and was not completed at date of valuation. The records reviewed do not indicate definitely the manner of construction, but it is clear that the Baltimore and Ohio held a dominant interest from the beginning and that it furthered the building of the road by advancing funds and furnishing material and supplies.

Leased Railway Property
The entire property is leased to the Baltimore and Ohio for an indefinite term, as stated in the report on that company.