Wikipedia:WikiProject Trains/ICC valuations/Youngstown and Austintown Railway

Interstate Commerce Commission, Valuation Reports, Volume 33

Location and General Description of Property
The railroad of The Youngstown and Austintown Railway Company, herein called the Youngstown and Austintown, is a single-track branch line, located entirely within the State of Ohio and extends from Youngstown to Leadville, 0.859 mile.

Introductory
The Youngstown and Austintown is a corporation of the State of Ohio, having its principal office at Youngstown, Ohio. No accounting records of the company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated hereinafter were obtained from a balance sheet statement as of date of valuation, certified by the comptroller of the company, filed with us, and from other sources.

The Youngstown and Austintown is controlled by the Erie through ownership of a majority of its outstanding capital stock. The records reviewed do not indicate that this company controls any common-carrier corporation.

The property of the Youngstown and Austintown was operated by its own organization from about 1872, when its original mileage was completed, until about May 1, 1883. From that date to December 1, 1895, the property was operated by The New York, Lake Erie and Western Railroad Company and its receivers, and from the latter date to December 31, 1917, it was operated by the Erie. The common-carrier property of this company was taken over for operation by the United States Railroad Administration on January 1, 1918, as part of the system of the Erie, and it is so operated on date of valuation.

Corporate History
The Youngstown and Austintown was incorporated June 22, 1871, under the general laws of Ohio to construct and operate a railroad from Youngstown to Austintown, Ohio, and to construct a branch known as the Manning branch. The date of its organization was not determined. The company acquired from the Leadville Coal Company by deed dated June 1, 1882, the property formerly owned by the Youngstown Railroad Company and the Wicks and Wells Railroad, copartnerships organized in Ohio, July 17, 1871.

Development of Fixed Physical Property
The owned mileage of the Youngstown and Austintown, 0.859 mile, was acquired by it as indicated in the following statement. The records reviewed indicate that the construction of the road built for the Youngstown and Austintown was performed by the forces of the company and of The New York, Lake Erie and Western Railroad Company.

Leased Railway Property
The common-carrier property of the Youngstown and Austintown is operated on date of valuation by the United States Railroad Administration as 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.