Wikipedia:WikiProject Trains/ICC valuations/Charleston and Western Carolina Railway

Interstate Commerce Commission, Valuation Reports, Volume 121

Charleston & Western Carolina Railway

Location and General Description of Property

The railroad of Charleston & Western Carolina Railway Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, which traverses western South Carolina, crossing into and out of Georgia a few miles north and south of Augusta, Ga. This railroad extends from Port Royal, S. C, in a northeasterly direction to Spartanburg, S. C, with a branch from Laurens to Greenville, S. C, and another from McCormick to Anderson, S. C. The following constitutes the mileage of lines owned by the carrier:

[Line]	Main track miles	Yard tracks and sidings miles	All tracks miles
Main line—Port Royal to Spartanburg, S.C.	246.803	74.164	320.967
Greenville branch—Laurens to Greenville, S.C.	35.841	10.022	45.863
Anderson branch—McCormick to Anderson, S.C.	58.200	7.220	65.420
Total.	340.844	91.406	432.250

Of the 320.967 miles of all tracks shown above for the main line from Port Royal to Spartanburg, 20.191 miles of main track and 19.806 miles of yard tracks and sidings, or a total of 39.997 miles of all tracks, are located in Georgia. The remainder of the main line and the two branch lines, above referred to, are located within South Carolina. In addition to the owned mileage, the carrier, under trackage agreements, uses 1.61 miles of main tracks and, under lease, 2.183 miles of yard tracks and sidings of other carriers, all of which are located in Augusta, Ga.

Corporate History

The carrier was incorporated under the general laws of South Carolina on September 16, 1896, to acquire, own, and operate the property, rights, and franchises of The Port Royal and Western Carolina Railway Company, to extend and build branches thereto, and to purchase, own, and operate other railroads. The principal office of the carrier is at Charleston, S. C. The time and manner of acquisition of the property, rights, and franchises of the Port Royal and Western Carolina Railway Company, and subsequently of the Port Royal and Augusta Railway Company, the Carolina, Knoxville and Western Railway Company, and The Augusta Terminal Railway Company are described in Appendix 2. The Atlantic Coast Line Company owns all of the outstanding capital stock of the carrier, except the necessary qualifying shares of the directors, by reason of which it has controlled the carrier since February, 1908.

Development of Fixed Physical Property

The railroad of the carrier constitutes a consolidation of properties formerly owned and operated by the Port Royal and Western Carolina Railway Company, the Port Royal & Augusta Railway Company, the Augusta Terminal Railway Company, and the Carolina, Knoxville & Western Railway Company. No railway mileage was acquired from the Carolina, Knoxville & Western Railway Company. The property acquired from the Port Royal and Western Carolina Railway Company embraced the line from Augusta to Spartanburg, together with the Anderson and Greenville branches, a total of 228.12 miles of track. This property constitutes a consolidation of the properties of the following companies:

Predecessor to the Port Royal and Western Carolina Railway Company	Location of line	Miles of track
Savannah Valley Railroad Company.	McCormick to Anderson, S. C.	58.23
Greenville and Laurens Railroad Company.	Laurens to Greenville, S. C.	35.84
Greenwood, Laurens & Spartanburg Railroad Company.	Greenwood to Spartanburg, S. C.	66.00
Augusta & Knoxville Railroad Company.	Augusta, Ga., to Greenwood, S. C.	68.05
Total.		228.12

The lines of the first three companies above named were constructed by agents of the Central Railroad and Banking Company of Georgia, some construction work having been done on the line of the Savannah Valley Railroad Company prior to 1884, on the lines of the Greenville and Laurens Railroad Company and the Greenwood, Laurens & Spartanburg Railroad Company prior to 1882, and construction having been completed on the line of the Savannah Valley Railroad Company sometime in 1886, on the line of the Greenville and Laurens Railroad Company, September 8, 1886, and on the line of the Greenwood, Laurens & Spartanburg Railroad Company, September 23, 1885. The Augusta and Knoxville Railroad Company effected a consolidation and completed the construction of properties owned by two other corporations, which had been organized for construction purposes. This line was opened for operation on May 1, 1882.

On October 27, 1886, the properties of all the companies above listed were consolidated to form the Port Royal and Western Carolina Railway Company, which consolidation was ratified by a special act of the Legislature of Georgia, approved September 21, 1887. On September 26, 1896, the carrier acquired from Thomas and Ryan the property, rights, and franchises of the Port Royal and Western Carolina Railway Company, which had been secured by them at foreclosure sale. A deed of release was executed by the Port Royal and Western Carolina Railway Company to the carrier on November 14, 1896.

The property acquired from the Port Royal and Augusta Railway Company embraces 112.75 miles of track from Augusta, Ga., to Port Royal, S. C. The original owner of this property was the Port Royal Railroad Company. Construction was begun in 1870. From Port Royal to Yemassee, S. C., 25 miles of road was opened for operation in 1871, and the remaining 87.75 miles from Yemassee, S. C., to Augusta, Ga., in 1873. A receiver was appointed on May 19, 1875, who operated the property until it was sold at foreclosure on June 6, 1878, to the Union Trust Company of New York. The trust company held the property for the benefit of the bondholders until July 10, 1878, when it was conveyed by deed to the Port Royal and Augusta Railway Company. The incorporators of the Port Royal and Augusta Railway Company were bondholders of its predecessor. A majority of the outstanding securities of the Port Royal and Augusta Railway Company were owned by the Central Railroad and Banking Company of Georgia. During the year 1892 the Port Royal and Augusta Railway Company was placed in the hands of a receiver, and so continued until October 3, 1896, when it was sold under foreclosure proceedings to the carrier as assignee of Thomas and Ryan.

The property acquired from the Augusta Terminal Railway Company consisted of 3.49 miles of yard tracks and a warehouse in Augusta, Ga., together with certain equipment. The construction of this track was completed from a point on the line of the carrier to McIntosh Street, Augusta, in December, 1897, and in 1901 an extension was built to connect with the Southern Railway. Prior to its purchase, under a contract dated April 1, 1897, the carrier had leased this property for a term of 99 years, a 30-year franchise granted the Augusta Terminal Railway Company by the city of Augusta having previously been transferred to the carrier on March 23, 1897. On March 20, 1906, the property, rights, and franchises of the Augusta Terminal Railway Company were purchased by the carrier on consideration of the assumption of all liabilities of the Augusta Terminal Railway Company.

The property acquired from the Carolina, Knoxville and Western Railway Company was confined to a quantity of rails, equipment, and certain lands and rights in the city of Greenville, S. C. As previously stated, it embraced no railway mileage. The Carolina, Knoxville and Western Railway Company represents a consolidation of the Carolina, Knoxville and Western Railway Company, the Pennsylvania and Haywood Railroad Company, and the Atlantic, Greenville and Western Railway Company. The purpose of the consolidated company was to build a line from Augusta, Ga., to Knoxville, Tenn. Considerable grading was done, and 10 miles of road was completed and turned over to the Carolina, Knoxville and Western Railway Company in August, 1888. About 3.5 additional miles of road appears to have been completed by January, 1889, when the company which had contracted to perform the construction was placed in the hands of receivers. A receiver was appointed for the Carolina, Knoxville and Western Railway Company in May, 1891, and on April 19, 1899, the portion of the property to which reference has already been made was conveyed by deed to the carrier.

Leased Railway Property

On date of valuation the carrier used property of other carriers jointly with them and permitted the joint use of its property, as is shown in the following statement. Mention is also made of property leased for sole operation.

The property owned and operated by other carriers and used jointly with them by the carrier is as follows:

At Augusta, Ga.:

Of main track of the Augusta and Savannah Railroad Company, 0.02 mile is leased to and operated by the Central of Georgia Railway Company, but used jointly by the carrier in pursuance of an agreement detailed under the caption Property of Others Solely Operated by the Carrier.

Of main track owned and operated by the Augusta and Summerville Railroad Company, 0.57 mile is used by the carrier and two other carriers under a perpetual agreement dated March 1, 1900, for freight traffic The carrier's rental payment for the year 1915 was $540.92, in addition to which it paid the city of Augusta $1,666.66 as its proportion of a $5,000 yearly payment undertaken by the three tenant companies to indemnify the city for any damages awarded in litigation that may arise from permission given to use certain streets in connection with the track described.

Of the main track, 0.59 mile and the passenger station of the Augusta Union Station Company are used by the carrier and five other companies under a contract date August 1, 1903, for a term of 50 years. The carrier's rental payment for the year 1915 was $2,712.56, being its proportion, based on cars handled, of interest on the station company's bonds, dividends on its stocks, and an agreed percentage of extraordinary expenditures for additions and betterments made to the facilities.

Of main track of the Georgia Railroad and Banking Company, 0.43 mile, leased to and operated by the Georgia Railroad (Lessee Organization) (Atlantic Coast Line Railroad Company and Louisville and Nashville Railroad Company, lessees), is used by the carrier under an agreement of May 1, 1902, for a term of 15 years. The carrier's rental payment for the year 1915 was $650.04, on the basis of 2.5 per cent of the valuation of the track used.

Of yard track of the Augusta Belt Line Railway Company, 0.156 mile is used by the carrier under an agreement terminable at will without payment of rent, the use being offset by the Belt Line's use of track of the carrier, later described.

Of yard track of the Central of Georgia Railway Company, 0.33 mile is used by the carrier under an agreement terminable at will without payment of rent, the use being offset by the former's use of track of the carrier, later described.

At Spartanburg, S. C.: Passenger station and 0.06 mile of yard track of the Southern Railway Company, used by the carrier under an agreement terminable on 90 days' notice. The carrier's rental payment for the year 1915 was $456.

At Greenwood, S. C.: Passenger station of the Southern Railway Company, used by the carrier under an agreement terminable on six months' notice. The carrier's rental payment for 1915 was $266.28.

At Anderson, S. C.: Passenger station and 0.07 mile of yard track of the Blue Ridge Railway Company, used by the carrier under an agreement terminable on one year's notice. The rent is based on valuation, and the payment for 1915 was $192.51.

Three minor facilities owned and operated by other carriers are used jointly by the carrier without rental payment.

The property owned and operated by the carrier and used jointly with it by other carriers is as follows:

At Maxwell, S. C.: 1.90 miles of yard track used by the Seaboard Air Line Railway under an agreement terminable on one year's notice. The rent is based on valuation and the amount received for the year 1915 was $262.68.

Between Salak and Greenwood, S. C.: Right of way and yard track used by the Seaboard Air Line Railway under an agreement for an indefinite period. $250 rent was paid for the first year only.

At Allendale, S. C.: Freight and passenger station used by the Southern Railway Company under an agreement terminable on one year's notice. The rent is based on valuation and the amount received for the year 1915 was $254.16.

Between Augusta, Ga., and Robbins, S. C, and in Augusta, Ga.: 28.80 miles of main track with 15.38 miles of yard track in Augusta, the freight and passenger terminal tracks and all buildings there, used by the Atlantic Coast Line Railroad Company under an agreement of December 1, 1899, for a period of 99 years, subject, however, to termination on six months' notice. The rent is based on valuation and the amount received for the year 1915 was $17,366.17.

At Augusta, Ga.: 0.57 mile of yard track used by the Augusta Belt Line Rail way Company under an agreement terminable at will without payment of rent, the use being offset by the carrier's use of track of the belt line, previously described.

At Augusta, Ga.: 1.99 miles of yard track used by the Central of Georgia Railway Company under an agreement terminable at will without payment of rent, the use being offset by the carrier's use of track of the former, previously described.

Four minor facilities owned and operated by the carrier are used jointly by other carriers. The rents received for the year 1915 amounted to $495.32.

The property of others solely operated by the carrier is as follows:

At Augusta, Ga.: 2.183 miles of yard track, station and office building, water station, fuel station, shops, and engine house, owned by the Augusta and Savannah Railroad Company, originally leased to the Central of Georgia Railway Company and by it subleased to the carrier under contract of June 30, 1899, supplemented May 31, 1906, terminable on 12 months' notice from either party. Shop machinery and tools and some land owned by the Central of Georgia Railway Company are included in the agreement. The latter pays all taxes and assessments against the property and the carrier maintains and operates it, paying $2,040 per year rent. Of the main track covered by the agreement, 0.02 mile is used jointly by the Central of Georgia Railway Company and the carrier as heretofore mentioned. The former also had use of the water station, fuel station, engine house, and any necessary tracks.