Wikipedia:WikiProject Trains/ICC valuations/Virginia and Kentucky Railway

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Location and general description of property.—The railroad of the Virginia and Kentucky Railway Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad located in Virginia. The owned mileage consists of 4.103 miles of main track extending from a connection with the line of the Norfolk and Western Railway Company near Norton to Wise. In addition, it owns 1.336 miles of yard tracks and sidings, making a total of 5.439 miles of all tracks.

CORPORATE HISTORY

The carrier was incorporated February 20, 1892, under the general laws of the State of Virginia, as the Gladeville Railroad Company. By act approved April 2, 1902, the name was changed to Virginia and Kentucky Railway Company. The purpose for which it was incorporated was not disclosed by the records reviewed. It did not file a return on corporate history. Certain information herewith has been taken from return filed by the Norton and Northern Railway Company, which acquired the property and franchises of the carrier subsequent to date of valuation. On June 30, 1913, the carrier defaulted in the payment of the principal and interest on its first-mortgage 6 per cent bonds, due on that date. On January 1, 1914, the property was placed in the hands of a receiver.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

All of the owned mileage of the carrier, aggregating 4.103 miles, was acquired by construction. The following tabulation from reports filed prior to 1907 with the State of Virginia shows the sections of trackage that go to make up the mileage of road owned on date of valuation.

By construction:

From Wise to Ramsey Junction 1898 Sept. 1, 1899 3.020

From Ramsey Junction to connection with Norfolk and Western 1903 1904 1.770

Less abandonments, connection at Ramsey Junction abandoned 1904 .687

Total road mileage owned on date of valuation 4.103

HISTORY OF CORPORATE FINANCING