Wikipedia:WikiProject Trains/ICC valuations/Atlantic and Yadkin Railway
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- CORPORATE HISTORY
The Atlantic and Yadkin was incorporated in North Carolina under the general laws ratified March 1, 1873, for the purpose of acquiring the property, rights, and franchises formerly owned by the Cape Fear and Yadkin Valley Railway Company. The reorganization was approved by an act of legislature ratified February 23, 1899. An organization of the company was effected on February 6, 1899.
Pursuant to the above purpose, the Atlantic and Yadkin acquired at its organization the property, rights, and franchise of the Cape Fear and Yadkin Ferry[sic] Railway Company, which company
| No. | Name | Incorporation | Succession |
|---|---|---|---|
| 1. | Atlantic and Yadkin Railway Company. | Under general laws of North Carolina and a special act of North Carolina, of which the latter was ratified on Feb. 23, 1899. | |
| 2. | Western Railroad Company.[sic - should be switched with 3] | See 3. | Sold at foreclosure Dec. 29, 1898, after receivership began Mar. 31, 1894, and reorganized Feb. 23, 1899, as 1. |
| 3. | Cape Fear and Yadkin Valley Railway Company.[sic - should be switched with 2] | Under special act of North Carolina, Dec. 24, 1852, amended Feb. 3, 1857, Feb. 16, 1861, Feb. 25, 1867, Jan. 10, 1871, Feb. 25, 1879, Apr. 3, 1879, Feb. 27, 1883, and Jan. 20, 1893. Authority to bridge navigable rivers granted by acts of Congress June 6, 1886. | Name changed to 2 on Apr. 3, 1879. |
| 4. | The Florence and Fayetteville Railroad Company. | Under acts of South Carolina, Dec. 21, 1861, amended Mar. 17, 1875, and of North Carolina, May 12, 1862, amended Feb. 8, 1872. | Merged into 2 on Apr. 6, 1881. |
| 5. | Mount Airy Railroad Company. | See 6. | Merged into 2, on Apr. 4, 1879. |
| 6. | Mount Airy and Ore Knob Railroad Company. | Under special act of North Carolina, Apr. 4, 1871, amended Feb. 28, 1877, Feb. 11, 1879, and Feb. 25, 1879. | Name changed to 4, Feb. 11, 1879. |
- DEVELOPMENT OF FIXED PHYSICAL PROPERTY
The 160.087 miles of road owned by the Atlantic and Yadkin, on date of valuation, were acquired as indicated in the tabulation below, which also states the years when construction was completed:
- Acquired from the Western Railroad Company:
- Constructed by the Western Railroad Company—
- Fayetteville to Cumnock, 1860 42
- Cumnock to Gulf, 1879 2
- Gulf to Greensboro, June 19, 1884 52
- Greensboro to Mount Airy, June 11, 1888 69
- Fayetteville to Wilmington, Feb. 17, 1890 83
- Climax to Ramseur, 1890 19
- Stokesdale to Madison, 1890 11
- Gulf to Cape Fear Bluff, 1890 1
- Mount Airy to Woodruff, 1890 2
- Sanford to Aldrich Quarry, 1890 1
- Roadway graded by The Florence and Fayetteville Railroad Company construction completed by the Cape Fear and Yadkin Valley Railway Company, Fayetteville to South Carolina State line, Dec. 5, 1884 47
- 329
- Constructed by the Western Railroad Company—
- Sale to the Wilmington and Weldon Railroad Company on May 13, 1899—
- Sanford to Wilmington 117
- Fayetteville to South Carolina State line 47
- Sanford to Aldrich Quarry 1
- 165
- Abandonments, Gulf to Cape Fear Bluff 1
- Classified by us as sidings, Mount Airy to Woodruff 2
- 168
- Total recorded road mileage owned on date of valuation 161
- Difference between total recorded mileage and mileage inventoried as of date of valuation .913
- Mileage inventoried as of date of valuation 160.087
- HISTORY OF CORPORATE FINANCING