Wikipedia:WikiProject Trains/ICC valuations/Union Point and White Plains Railroad

Interstate Commerce Commission, Valuation Reports, Volume 103

Union Point & White Plains Railroad

Location and General Description of Property

The railroad of Union Point & White Plains Railroad Company, herein called the carrier, is a single-track standard-gauge steam railroad located in the north-central part of Georgia. The owned mileage extends southerly from Union Point to White Plains, Ga., a distance of 11.974 miles. The carrier also owns yard and side tracks totaling 0.520 mile. Its road thus embraces 12.494 miles of all tracks owned. In Appendix 1 will be found a general description of the property of the carrier.

Corporate History

The carrier was incorporated August 5, 1886, under the general laws of the State of Georgia, for the purpose of constructing a railroad to extend from Union Point in a southerly direction to White Plains, Ga., approximately 13 miles. The organization of the company was perfected September 22, 1888. Its principal office is located at Union Point.

On date of valuation 200 of the 325 shares of the outstanding capital stock of the carrier were owned by The Georgia Railroad and Banking Company, but control was exercised by the Atlantic Coast Line Railroad Company and the Louisville and Nashville Railroad Company, which jointly lease and operate the property of the Georgia Railroad and Banking Company, and exercise power of attorney over all securities owned by it. The two lessee companies exercise their powers over the property and securities of the Georgia under the trade name of the lessee organization.

The detailed facts as to the development of the fixed physical property are given in Appendix 2.

Development of Fixed Physical Property

The property of the carrier was constructed by the Georgia Railroad (Lessee Organization) for account of the carrier. The construction work was begun February 5, 1889, and the entire property placed in operation September 23, 1889.

Leased Railway Property

On date of valuation the carrier used under a joint-facility agreement with the Georgia Railroad (Lessee Organization), dated July 1, 1915, 1.59 miles of track between White Plains Junction and Union Point. These tracks and other facilities are owned by the Georgia Railroad and Banking Company, but operated and maintained by the Lessee Organization under lease. For rental and maintenance of the tracks the carrier paid $30 per month, and for the use of the depot and other facilities it paid a proportion of the expense of maintenance and operation divided on a tonnage basis. The total payment made by the carrier for the year ending on date of valuation aggregated $1,337.41, of which amount $180 was charged to the income account and the remainder to operating expenses.