Wikipedia:WikiProject Trains/ICC valuations/Logan and Southern Railway

Interstate Commerce Commission, Valuation Reports, Volume 24

Logan and Southern Railway

Location and General Description of Property

The railroad of Logan and Southern Railway Company, herein called the Logan and Southern, likewise leased to and operated by the carrier [Chesapeake and Ohio Railway] is a single-track line, extending from Monitor Junction to Barnabas, W. Va., a distance of 9.588 miles.

Introductory

The Logan and Southern is a corporation of the State of West Virginia, having its principal office at Richmond, Va. It is controlled by the carrier through ownership of the entire outstanding capital stock. The property of the Logan and Southern has been operated by the carrier since completion.

Corporate History

The Logan and Southern was incorporated under the general laws of West Virginia on November 2, 1907, on which date it also perfected its organization.

Development of Fixed Physical Property

The owned mileage of the Logan and Southern, extending from Monitor Junction to Barnabas, W. Va., a distance of 9.588 miles, was acquired partly from other companies and partly by construction, as follows:

On March 25, 1912, the Logan and Southern acquired from the Monitor Coal & Coke Company and the Yuma Coal & Coke Company, each, a section of completed road, the termini or mileage of which are not ascertainable, and right of way through the properties of these companies. These tracks were a part of the section of road between Monitor Junction and Monitor, about 1.20 miles, construction of which was begun, under contract, in February, 1912. The date of completion is not of available record. On April 1, 1912, the carrier acquired control and began operation of the road for its own account. Apparently some use was made of the road prior to that date by the Monitor Coal & Coke Company and the Yuma Coal & Coke Company, although the results of such operations are not disclosed in the obtainable accounting records.

Construction of the section between Monitor and Barnabas, 8.59 miles, was begun under contract, under the supervision of the carrier in 1912, and was completed in sections during the years 1914 and 1915.

Leased Railway Property

The entire property of the Logan and Southern has been operated by the carrier since its completion, under an implied lease by virtue of the latter company's ownership of the entire outstanding capital stock. No accounting is made to the Logan and Southern of the revenues and expenses nor do the records indicate that any rental is paid.