The carrier is a corporation of the State of Pennsylvania, having its principal office at Ligonier, Pa. It was originally incorporated as the Latrobe & Ligonier Rail Road Company. The records reviewed do not indicate that any individual, association, or corporation controls the carrier. Its entire capital stock is held individually by J. R. Mellon, A. W. Mellon, R. B. Mellon, T. A. Mellon, E. P. Mellon, W. L. Mellon, Thomas Mellon, and M. C. M. McClung. On the other hand, the records reviewed do not indicate that the carrier controls any other common-carrier corporations. The carrier has operated its property with its own organization since the dates acquired by it.
The carrier was incorporated April 15, 1853, under general laws of Pennsylvania, as the Latrobe & Ligonier Rail Road Company. It renewed its charter three times, on April 4, 1866, April 17,1869, and March 15, 1871, but did not perfect its organization until April 29, 1871. It changed its name to Ligonier Valley Rail Road Company as of June 3, 1871. The property of the carrier was sold at a judicial sale on August 9, 1875, but was later returned to it by the purchasers, as explained in other sections of this report.
The owned mileage of the carrier was acquired as indicated below. The carrier acquired right of way and partly constructed about 10.3 miles of narrow-gauge railroad extending from Latrobe to Ligonier, Pa., during the period from 1871 to August, 1875. On August 9, 1875, this partly constructed property was sold at a sheriff's sale in order to satisfy a judgment of $5,000 covering an unpaid construction bill. Certain stockholders of the carrier were the purchasers at the sale, and they later returned the property to the company. Construction of the above-mentioned 10.3 miles of road was completed during the period from July to December, 1877. The construction work was performed by Thomas Mellon under contract. The gauge of the road was changed to standard during 1881. The road was extended about 5.7 miles from Ligonier to Fort Palmer, Pa., during the period from April, 1904, to December, 1908.
The carrier has direct connection for the interchange of traffic with the line of The Pennsylvania Railroad Company at Latrobe.
The investment of the carrier in other companies on date of valuation is stated in its accounts as $13,620.44. This covers cash advanced for account of the Laurel Hill Railroad Company.
|Original data source:||Decisions of the Interstate Commerce Commission Vol. 114 pp 558-560, 566|
Interstate Commerce Commission
Although published in 1926, the report is "...as of date of valuation" which was 30 June, 1917