Wikipedia:WikiProject Trains/ICC valuations/Piedmont and Northern Railway

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INTRODUCTORY

The carrier is a South Carolina corporation having its corporate office at Greenville, S. C., and its general offices at Charlotte, N. C. It is not controlled by any individual or corporation and does not, itself, control any other common-carrier corporation.

Its property has been operated by its own organization from July 1, 1914, to December 31, 1917, and from March 1, 1920, to date of valuation. During the period January 1918 to February 1920, inclusive, the property was operated by the United States Railroad Administration.

CORPORATE HISTORY

The carrier was incorporated under a special act of the General Assembly of South Carolina, approved February 24, 1911, for the purpose of constructing, purchasing, and operating lines of railways and street railways in South Carolina, to be operated by electricity or other motive power, and to establish lines of automobiles, cabs, or other vehicles necessary for the conduct of its business, to generate, develop, and contract for electric power, and to dispose of such power as may not be needed for its own purposes to individuals, corporations, or municipalities, to develop real estate, erect, sell, lease, or dispose of schools, stores, mills, warehouses, hotels, and other structures, factory sites, parks, or other properties, and to consolidate and merge the capital stock, property, and franchises of the Greenville, Spartanburg & Anderson Railway Company with those of its own.

Records obtained do not indicate any activities by the carrier until 1914, when, on June 30, it acquired by purchase the properties and assets, and assumed certain liabilities, of the Greenville, Spartanburg & Anderson Railway Company, which was incorporated March 10, 1910, under general laws of South Carolina, and of the Piedmont Traction Company, which was incorporated under general laws of North Carolina, January 8, 1910.

The predecessor of the Greenville, Spartanburg & Anderson Railway Company, the Anderson Traction Company, was incorporated under the general laws of South Carolina on June 22, 1904. Its property, rights, and franchises were sold at foreclosure sale, confirmed on November 12, 1909, to Edwin W. Robertson, who, by deed dated November 29, 1909, conveyed the same to Ellison A. Smyth, trustee. The parties interested in the trust, together with W. S. Lee, were the incorporators of the Greenville, Spartanburg & Anderson Railway Company, and the property was turned over to that company during 1910, but deed confirming the transfer was not executed by the trustee until June 16, 1916.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The 129.617 miles of road owned by the carrier on date of valuation was acquired partly by purchase on June 30, 1914, and partly by subsequent construction. It consists of two separate sections of road, one of 101.626 miles in South Carolina and the other of 27.991 miles in North Carolina. The following statement shows by whom the several sections of road were constructed, the years in which they were constructed, and the manner in which the carrier acquired the property.