Under the Valuation Act of 1913, the Interstate Commerce Commission (ICC) was tasked with determining the value of all railroad property in the United States. The ICC's Bureau of Valuation supervised all valuation surveys but worked closely with the staff of the railroad companies. The highly detailed surveys covered every mile of railroad line, as well as buildings, equipment, and land. Leased lines and joint trackage were also included, although with certain qualifications.

The valuation survey for the Copper Range Railroad Company was conducted in 1916 and assessed the condition of the railroad as of June 30, 1916 using prices as of June 30, 1914. The railroad protested the Bureau of Valuation's findings, and the resulting legal cases were not settled until the 1930s.

Starting July 1, 1917, railroads were required to report additions, betterments, and retirements for the purpose of updating the valuations. This requirement would be in effect throughout the life of the Copper Range Railroad Company.