leased for 25 years to the Lake Shore and Michigan Southern Railway (LS&MS), with 40 percent of the gross annual revenue retained by the original investors as rent. The LS&MS made the Youngstown-Andover Branch part of its Franklin Division. In 1882, the MCR built a branch east to the Keel Ridge Coal Mines on the east side of Hermitage, Pennsylvania, from its Youngstown-Andover line near Brookfield Center, Ohio. On July 1, 1884, the LS&MS and MCR amended their lease, making it perpetual. The agreement also transferred the rights of way, track, and all equipment of the MCR to the LS&MS, effectively ending the MCR's independent existence as a railroad. A branch was built from the Ohio state line east into Pennsylvania just north of Sharon, Pennsylvania, in 1887. This line was built under authority of a charter held by the Stewart Iron Company, and was used to link the Stewart works to the Youngstown-Andover line. In 1888, the MCR began and finished its Sharon Branch, a branch from its Youngstown-Andover line into Sharon. On the Ohio side of the border, this included track from Doughton, Ohio (a now-abandoned village which used to exist on the north edge of what is now the Pine Lakes Golf Club on the west side of Hubbard) to the Pennsylvania state line. For the track on the Pennsylvania side, the MCR purchased the right of way from the Mahoning and Shenango Valley Railroad, which had a Pennsylvania state charter giving it authority to build there. The Hubbard spur was abandoned when the Sharon Branch was finished. A line from the Sharon Branch northeast to Sharpsville, Pennsylvania, was also completed at this time (under authority of the charter of the Chenango Valley Railroad. The MCR bought the Mahoning and Shenango Valley Railroad, the Chenango Valley Railroad, and the Stewart Railroad in 1890. It issued $400,000 in preferred stock to raise the money for the purchase. The Mahoning and Shenango Valley Railroad then became part of the LS&MS' Franklin Division. The Vienna coal mine branch was torn up in 1899. In 1903, the LS&MS built a "low-grade" line parallel to the MCR from Carson, Ohio, to Brookfield Center. Later corporate history The Mahoning Coal Railroad was listed on the New York Stock Exchange on May 10, 1888. But even after it doubled the amount of preferred stock on the market in 1890, there was so little stock