Iron Road Railways engaged RLBA twice over the course of three years to perform desk-top going-concern valuations of the Windsor & Hantsport Railway Company (WHRC). The valuations comprised the synthesis of four major elements: 1)engineering; 2)traffic and revenue; 3)operations and costs and 4)financial analysis. RLBA calculated the going-concern values based on WHRC-provided information including the following items: traffic volumes, costs of labor and materials, magnitude of deferred maintenance, carloads and revenues, train and switching operations, operating expenses and audited financial statements. Iron Road Railways engaged RLBA the second time to measure the impact on value associated with a substantial increase in business volume, that commenced with the completion of a three-part, capacity enhancement investment program made by the carrier’s largest customer, Fundy Gypsum, a wholly-owned subsidiary of U.S. Gypsum.