Wikipedia:WikiProject Trains/ICC valuations/Atlantic Coast Line Railroad

Interstate Commerce Commission, Valuation Reports, Volume 38

Location and General Description of Properties
The railroad operated by the Atlantic Coast Line Railroad Company, herein called the Coast Line, is a standard-gage, steam railroad, located in the States of Virginia, North Carolina, South Carolina, Georgia, Florida, and Alabama. The main stem of the Coast Line extends from Richmond, Va., where it connects with the lines from the north, through Rocky Mount and Fayetteville, N. C, Florence and Charles ton, S. C, Jacksonville to Port Tampa, Fla., with branches extending to interior points and to ports on the west coast of Florida. Other branches extend to Norfolk, Va.; Kinston, Wilmington, and New Bern, N. C; Columbia and Georgetown, S. C; Albany and Brunswick, Ga.; and a branch crossing Georgia to Montgomery, Ala. Augusta, Ga., is reached by means of trackage rights. Other important cities served by the Coast Line are Petersburg, Va., Goldsboro, N. C, Savannah and Waycross, Ga., and Fort Myers, Tampa, and River Junction, Fla. The main stem is double tracked from Richmond, Va., to Parkton, N. C, from Pee Dee to Florence, S. C, from Lanes to Charleston, S. C, and from Folkeston, S. C, to Jacksonville, Fla., totaling 332 miles of road. The properties used under lease consist of tracks at Wilmington, N. C, certain wharf and dock facilities at Savannah, Ga., and railroad lines extending from Sumter to Lanes, S. C, and from the North Carolina-South Carolina State line to Bennettsville, S. C.

The Coast Line wholly owns 4,370.735 miles of road, of which 3.170 miles at Petersburg, Va., is leased to and operated by the Virginia Railway and Power Company, and 4.834 miles between Enterprise and Enterprise Junction, Fla., is leased to and operated by the Florida East Coast Railway Company. In addition, certain wharves and docks at Pinners Point (Norfolk), Va., are leased to and operated by the Southern Railway Company. The Coast Line wholly uses 51.570 miles of road owned by other companies, of which 0.956 mile is owned by the Tidewater Power Company. The remaining 50.614 miles is owned by lessors whose entire common-carrier properties the Coast Line leases and operates, as described in the paragraphs below.

The railroad of the Central Railroad Company of South Carolina, herein called the Central of South Carolina, is a single-track line located entirely within the State of South Carolina and extending from Sumter to Lanes, 40.202 miles.

The railroad of the South Carolina Pacific Railway Company, herein called the South Carolina Pacific, is a single-track line located entirely within the State of South Carolina and extending from the North Carolina-South Carolina State line to Bennettsville, 10.412 miles.

In addition, the Coast Line jointly owns and uses with the Seaboard Air Line Railway Company 0.515 undivided mile of road. It also jointly uses with the same carrier 2.518 undivided miles of road consisting of the property of the Wilmington Railway Bridge Company and extending from Hillton to Navassa (Wilmington), N. C. A more complete description of jointly owned or jointly used properties is given in Appendix 1.

The Coast Line wholly owns and uses 6,095.074 miles of all tracks, wholly owns but does not use 8.491 miles of all tracks, and wholly uses but does not own 60.812 miles of all tracks. The Coast Line also jointly owns and uses with other carriers 23.772 undivided miles of all tracks and jointly uses but does not own 6.048 undivided miles of all tracks. These tracks, consisting of first and second main tracks and yard tracks and sidings, are classified in the trackage table in Appendix 1.

Introductory
The Coast Line is a corporation of the State of Virginia, with its principal office at Richmond, Va. While its present name is Atlantic Coast Line Railroad Company, it was originally incorporated as Richmond and Petersburg Railroad Company, later changing its name to Atlantic Coast Line Railroad Company of Virginia and again to the present name. The accounting records for the period from 1836 to June 30, 1865, were not obtained. Therefore, only partial information can be given from the accounts regarding financial dealings, corporate operations, or investments during that period.

The records reviewed do not indicate that the Coast Line is controlled by any individual or corporation. Its principal stockholder is the Atlantic Coast Line Company of Connecticut, a holding company, which holds 185,906 shares out of the total of 685,580 shares outstanding. Prior to March 10, 1914, the Coast Line was controlled by the former company through ownership of a majority of the capital stock, but this control was relinquished, prior to date of valuation, by the Atlantic Coast Line Company of Connecticut distributing among its stockholders 176,400 shares of the capital stock of the Coast Line.

On the other hand, the Coast Line controls, through ownership of 82.2 per cent of its capital stock, the South Carolina Pacific Railway Company whose common-carrier property it operates, and through the ownership of its entire capital stock it controls The Belt Line Railway Company (Montgomery, Ala.) whose common-carrier property is separately operated.

It controls jointly with the Louisville and Nashville Railroad Company, partly through the ownership of capital stock and partly through the right to exercise the voting power attached to the capital stock owned by the Georgia Rail Road & Banking Company, the Atlanta and West Point Railroad Company whose property is operated by its own organization.

It controls jointly with the Central of Georgia Railway Company and the Louisville and Nashville Railroad Company, through the joint right with the latter company to exercise the voting power attached to the 50 per cent of capital stock owned by the Georgia Rail Road & Banking Company, The Western Railway of Alabama whose property is operated by its own organization. The Central of Georgia Railway Company owns the remaining 50 per cent of capital stock.

It controls, through ownership of the entire outstanding capital stock, the following companies whose properties were incomplete at date of valuation.
 * Richmond Terminal Company
 * Tampa Southern Railroad Company

It controls, further, through ownership of the outstanding capital stock to the extent indicated, the following named companies, which operate their own properties.

It further controls jointly with other companies, through ownership of capital stock to the extent indicated, the following named companies, whose properties are operated as stated.

In addition, the Coast Line controls jointly with the Southern Railway Company, the Pennsylvania Railroad Company, The Baltimore and Ohio Railroad Company, the Seaboard Air Line Railway Company, and The Chesapeake and Ohio Railway Company, through ownership by each of one-sixth of the capital stock, the Richmond Washington Company, which does not own or operate any common-carrier property but which controls through ownership of the entire capital stock, the Washington Southern Railway Company, and, through ownership of a majority of the capital stock, The Richmond, Fredericksburg and Potomac Railroad Company.

The property of the Coast Line has been operated by its own organization during its entire life.

Corporate History
The Coast Line was incorporated March 14, 1836, by a special act of the Legislature of Virginia, as the Richmond and Petersburg Railroad Company, for the purpose of constructing and operating a railroad from Richmond to Petersburg, Va., a distance of about 22 miles.

On November 21, 1898, under the authority of a special act of the Legislature of Virginia, approved March 1, 1898, the name of the Richmond and Petersburg Railroad Company was changed to Atlantic Coast Line Railroad Company of Virginia, and subsequently, on April 23, 1900, under the authority of a special act of the Legislature of Virginia, approved January 12, 1900, the name was again changed to Atlantic Coast Line Railroad Company. Under the act of January 12, 1900, the Coast Line was authorized to consolidate with, to purchase or otherwise acquire, any railroad or transportation company in the United States.

Pursuant to the above purposes, the Coast Line acquired the property, rights, and franchises of 13 railroad corporations. The Coast Line itself and those corporations, together with their predecessors, total 82 different corporations, of which 19 underwent a change of name, and comprise the line of corporate succession culminating in the Coast Line as at present constituted.

The following chart shows the names of the corporations, the respective dates of incorporation, and for each predecessor the date of succession, the immediately succeeding corporation and the manner of succession. corporations is made in the last column by its respective number shown in the first column.

In addition, the Coast Line is the successor to the rights and franchises pertaining to 165 miles of road in the State of North Carolina which were acquired May 13, 1899, by the Wilmington and Weldon Railroad Company from the Atlantic and Yadkin Railway Company.

The Atlantic and Yadkin Railway Company was incorporated January 31, 1899, under the general laws of the State of North Carolina and disposed of a part of its property, together with the rights and franchises pertaining thereto, as above indicated, and at the same time, the operation of its remaining property was assumed by the Southern Railway Company.

The accounting report on the Atlantic and Yadkin Railway Company is a part of the accounting report on the Southern Railway Company to which reference is hereby made.

Development of Fixed Physical Property
The owned mileage of the Coast Line amounting to 4,373.768 miles was acquired as follows:

Of the 81 corporations that comprise the line of succession culminating in the Coast Line as at present constituted, one corporation, namely, the East Georgia and Florida Railroad Company, conveyed its rights and franchises only; one corporation, namely, the Greensville and Roanoke Railroad Company, constructed 21.30 miles of road all of which has been abandoned; and 10 corporations did not construct any road or other common-carrier property. These companies were:
 * Petersburg and Western Railroad Company.
 * Wilmington and Newbern Railroad Company.
 * Wilmington, Columbia and Augusta Railroad Company (of 1879).
 * The Columbia and Sumter Railroad Company.
 * Wilmington and Conway Railroad Company.
 * Charleston and Northern Railroad Company.
 * Jacksonville and St. John's River Railway Company.
 * DeLand and St. John's River Railroad Company.
 * Northwestern and Florida Railroad Company.
 * Sanford and St. Petersburg Railroad Company.

The property described includes 165 miles of road received by the Coast Line with the other property of the Wilmington and Weldon Railroad Company, which was purchased by the latter from the Atlantic and Yadkin Railway Company. This property was constructed by the following predecessors of the Atlantic and Yadkin Railway Company.
 * The Western Railroad Company. Mileage 36
 * Cape Fear and Yadkin Valley Railroad Company. 82
 * Fayetteville and Florida Railroad Company, (completed by the Cape Fear and Yadkin Valley Railroad Company). 47

These companies are treated as predecessor of the Atlantic and Yadkin Railway Company in the report upon that company which at its date of valuation, was a lessor of the Southern Railway Company.

The property constructed by the remaining corporations, together with that constructed by the Coast Line, the years when the various portions were constructed, and the manner in which the Coast Line acquired the property are indicated in the following table, wherein, to facilitate comparison with the table showing the corporate succession, previously given, the same order of corporations is maintained.

Leased Railway Property
The Coast Line uses on date of valuation facilities owned by other companies and other companies use facilities owned by the Coast Line to the extent indicated in the statement below. The description of the property, the period and terms of use, and the rental accrued and charged or credited to income so far as reported for the year ending on date of valuation, are as follows:

In addition to the joint facilities enumerated above, the Norfolk and Western Railway Company operates two through passenger trains each way daily over the tracks of the Coast Line between Petersburg and Richmond, Va., 22.45 miles. These trains, while on the tracks of the Coast Line, are entirely controlled by that company. The Coast Line pays, in addition to car hire, 20 cents per train-mile to cover the cost of the crew, engine, and other services and takes all revenue from local traffic.

There are other facilities of minor importance, such as stations, interlockers, yard tracks, and sidings, in which the Coast Line grants or receives joint use, that are not listed in this chapter.

Petersburg Railroad
Introductory

No accounting records of the Petersburg Railroad Company were obtained for the period from the date of organization to June 1, 1855. Therefore, only partial information can be given from the accounts regarding its financial dealings, corporate operations, or investments. While the date of demise was November 21, 1898, the books were kept open until June 30, 1899. The net results of operations for the last fiscal year were transferred to the books of the Coast Line. Certain information pertaining to the period prior to June 1, 1855, has been taken from other sources as hereinafter indicated. The records reviewed did not indicate that the company was controlled by any individual or corporation on the date of demise, nor, on the other hand, that it then controlled any common-carrier corporation. The property of this company was operated by its own organization from December 24, 1832, until the date of demise, except during the period May 14, 1877, to May 10, 1881, when a receiver was in charge of the property. The railroad operated by the company on the date of demise, 67.39 miles, all owned, extended from Petersburg, Va., to Weldon, N. C.

Development of Fixed Physical Property

Of the 67.39 miles of road owned by this company on the date of demise, it had acquired 21.30 miles from the Greensville and Roanoke Railroad Company, 3.15 miles from the Petersburg and Western Railroad Company, and 68.08 miles by construction. Of the 90.76 miles so acquired, 25.14 miles of road was abandoned. Details with respect to the construction of this property and the subsequent abandonment of a portion are given in the chapter on development of fixed physical property of the Coast Line.

Greensville and Roanoke Railroad
The accounting records of this company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from the records of the Petersburg Railroad Company. The records reviewed did not indicate whether the company was controlled by any individual or corporation on November 13, 1855, the date of its demise, nor, on the other hand, whether it then controlled any common-carrier corporation. The property of the company was operated by the Petersburg Railroad Company from the date of acquirement to the date of demise.

The railroad owned by the company consisted of approximately 21.30 miles of single-track, standard-gage, steam railroad, extending from Hicksford, Va., to Gaston, N. C., which it had acquired by construction. Details with respect to the construction of this property are given in the chapter development of fixed physical property of the Coast Line.

Petersburg and Western Railroad
The accounting records of this company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from the records of the Petersburg Railroad Company. The records reviewed did not indicate whether the company was controlled by any individual or corporation on June 1, 1898, the date of its demise, nor, on the other hand, whether it then controlled any common-carrier corporation. The property of the company was operated by the Petersburg Railroad Company from the date of acquirement to the date of demise. The railroad owned consisted of approximately 3.15 miles of single-track, standard-gage, steam railroad, located entirely within the city of Petersburg, Va. The entire 3.15 miles of railroad owned by the company on the date of demise was acquired through reorganization of the Petersburg and Asylum Railway Company. Details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Coast Line.

Petersburg and Asylum Railway
The accounting records of this company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from the records of the Petersburg Railroad Company. The records reviewed did not indicate whether the company was controlled by any individual or corporation on February 7, 1894, the date of its demise, nor, on the other hand, whether it then controlled any common-carrier corporation. The property of the company was operated by its own organization from the date of acquirement to the date of demise. The railroad owned and operated by the company consisted of approximately 3.15 miles of single-track, standard-gage, steam railroad, located entirely within the city of Petersburg, Va., which it had acquired by construction. Details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Coast Line.

Norfolk and Carolina Railroad and Chowan and Southern Railroad
Introductory

The records reviewed did not indicate that this company was controlled by any individual or corporation on April 30, 1900, the date of its demise, nor, on the other hand, that it then controlled any common-carrier corporation. The property of this company was operated by its own organization from the date of its completion by The American Construction Company on September 1, 1890, to the date of demise. The railroad operated by the company on the date of demise amounted to 108.17 miles, all owned. It consisted of a single-track, standard-gage, steam railroad, extending from Pinners Point, Va., to Tarboro, N. C., about 100 miles, with about 8.18 miles of branch lines.

Development of Fixed Physical Property

Of the 108.17 miles of road owned by the company on the date of demise, it had acquired about 10 miles from the Chowan River Railway and Baltimore Steamboat Company, 20.17 miles from the Western Branch Railway Company, and 78 miles by construction. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line.

Western Branch Railway
The records reviewed did not indicate that this company was controlled by any individual or corporation on June 30, 1888, the date of its demise, nor, on the other hand, that it then controlled any common-carrier corporation. The company owned on the date of its demise approximately 20.17 miles of single-track, standard-gage, steam railroad, extending from Pinners Point to Drivers, Va., with four branch lines. This property was constructed during the years 1887 and 1888 and when completed was acquired by the Norfolk and Carolina Railroad Company.

Wilmington and Weldon Railroad and Wilmington and Raleigh Railroad
Introductory

No accounting records of this company were obtained for the period prior to October 1, 1851. Therefore only partial information can be given from the accounts regarding its financial dealings, corporate operations, or investments.

The records reviewed did not indicate that the company was controlled by any individual or corporation on May 1, 1900, the date of its demise, nor, on the other hand, that it then controlled any common-carrier corporation.

The property of this company was operated by its own organization from the date of its incorporation, March 14, 1836, to the date of demise.

The railroad operated by the company was a single-track, standard-gage, steam railroad, located wholly within the State of North Carolina, and aggregated approximately 762.98 miles. The original main line extended from Weldon to Wilmington. Another line extended from Contentnea, a point on the original main line, via Fayetteville to a point on the South Carolina State line, near Bennettsville, S. C., and which with part of the original main line between Weldon and Wilmington was a part of the through route from New York to Jacksonville, Fla. Other lines extended from Rocky Mount to Plymouth via Tarboro and Parmelee, from Goldsboro to Smithfield, from Clinton to Warsaw, and from Wilmington to Sanford. Minor branches connected other points.

The owned mileage amounted to 761.73 miles. In addition, 1.25 miles, in the city of Wilmington, N. C., was operated under lease from the Tide Water Power Company.

Development of Fixed Physical Property

The owned mileage of the company, 761.73 miles, was acquired as follows: 8 miles of partly constructed road from the Halifax and Weldon Railroad Company, 53 miles from The Albemarle and Raleigh Railroad Company, 21.47 miles from The Midland North Carolina Railway Company, 85 miles from the Wilmington and Newbern Railroad Company, 165 miles from the Atlantic and Yadkin Railway Company, and 429.26 miles by construction. The construction work of the company was performed by numerous contractors, but the records obtained did not show that they were affiliated with the company. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line.

Halifax and Weldon Railroad
The accounting records of this company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings or investments. The records reviewed did not indicate whether the company was controlled by any individual or corporation on February 20, 1837, the date of its demise, nor, on the other hand, whether it then controlled any common-carrier corporation. This company owned on the date of its demise approximately 8 miles of partly completed road, projected to extend from Halifax to Weldon, N. C. It is not known whether the construction work was performed by the forces of the company or by contract. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line. No records were obtained showing the securities or other liabilities of this company outstanding on the date of demise.

The Midland North Carolina Railway
The accounting records of this company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. The records reviewed did not indicate whether the company was controlled by any individual or corporation on June 1, 1885, the date of its demise, nor, on the other hand, whether it then controlled any common carrier corporation. This company owned on the date of demise approximately 21.47 miles of railroad, extending from Goldsboro to Smithfield, N. C. This property was all acquired by construction. It is not known whether the construction work was performed by the forces of the company or by contract. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line. No records were obtained showing the securities or other liabilities of this company outstanding on the date of demise.

Clinton and Warsaw Railroad and Clinton and Faison Railroad
The accounting records of this company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings or investments. The records reviewed did not indicate whether the company was controlled by any individual or corporation in October, 1886, the date of its demise, nor, on the other hand, whether it then controlled any common-carrier corporation. This company at its demise had partly constructed a single-track, standard-gage railroad, projected to extend from Clinton to Warsaw, N. C., about 13.47 miles. It is not known whether the construction work was performed by the forces of the company or by contract. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line. No records were obtained showing the securities or other liabilities of this company outstanding on the date of demise.

The Albermarle and Raleigh Railroad and Seaboard and Raleigh Railroad
Introductory

The available accounting records of this company cover the period from October, 1883, to January 10, 1894, and the accounting data in this report are those afforded by these records. The records reviewed did not indicate that the company was controlled by any individual or corporation on January 10, 1894, the date of its demise, nor, on the other hand, that it then controlled any common-carrier corporation. The property of this company was operated by its own organization from October 1, 1883, to the date of demise. The railroad owned and operated by the company on the date of demise, 53 miles, consisted of a single track, standard-gage, steam railroad, extending from Tarboro to Plymouth, N. C.

Development of Fixed Physical Property

The road from Williamston to Tarboro, N. C., 31 miles, projected by the Williamston and Tarboro Railroad Company, was built and equipped under a contract with the Southern Construction Company and opened for operation October 1, 1883. The extension from Williamston Junction to Plymouth, N. C., 22 miles, was also built under contract and was opened for operation in 1889.

The Williamston and Tarboro Railroad
The accounting records of this company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings or investments. The property of this company consisted of an uncompleted railroad, projected to extend from Williamston to Tarboro, N. C., about 31 miles.

Wilmington and Newbern Railroad
The records reviewed did not indicate that this company was controlled by any individual or corporation on November 30, 1897, the date of its demise, nor on the other hand, that it then controlled any common-carrier corporation. The property of this company was operated by its own organization from August 24 to November 30, 1897.

The railroad operated by the company on the date of demise, 85 miles of single-track, standard-gage, steam railroad, all owned, extended from Newbern to Wilmington, N. C., and about 1.25 miles of track in the city of Wilmington, N.C., was operated under lease. The entire 85 miles of road owned on the date of demise had been acquired from the Wilmington, Newbern and Norfolk Railroad Company through foreclosure and sale under deed dated July 27, 1897. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line. The records do not indicate that any syndicating arrangements were made in connection with the issuance of securities. Financial arrangements of this company included the issuance of its stock and bonds directly in purchase of its property. From the date of its incorporation to the date of its demise, the company issued capital stock and funded debt, as disclosed by its records, aggregating $450,000 par value, all of which was actually outstanding on the date of demise. Common stock of $50,000 par value and 4 per cent first-mortgage bonds dated August 2, 1897, and maturing August 1, 1947, of $400,000 par value, were issued for the property of the Wilmington, Newbern and Norfolk Railroad Company. The funded debt issued by the company was assumed by the Wilmington and Weldon Railroad Company.

Wilmington, Newbern and Norfolk Railroad and Wilmington, Onslow and East Carolina Railroad
Introductory

There were no available accounting records of this company for the period from the date of its organization to February 1, 1891. Therefore, only partial information can be given from the accounts regarding its financial dealings, corporate operations, or investments.

The records reviewed did not indicate that the company was controlled by any individual or corporation on August 23, 1897, the date of its demise, nor, on the other hand, that it then controlled any common-carrier corporation.

The property of this company was operated by its own organization from the date it acquired its original 48 miles of railroad by construction, February 1, 1891, until it went into receivership, March 15, 1897. From the latter date until the date of demise the property was operated by receivers.

The railroad operated by the receivers on the date of demise, 85 miles, was all owned by the Wilmington, Newbern and Norfolk Railroad Company. It consisted of a single-track, standard-gage, steam railroad, extending from Wilmington to Newbern, N. C.

Development of Fixed Physical Property

Of the 85 miles of road owned by the company on the date of demise, it had acquired 37 miles from the East Carolina Land and Railway Company and 48 miles by construction. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line.

East Carolina Land and Railway — Predecessor of the Wilmington, Newbern and Norfolk Railroad
The accounting records of this company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. Certain data indicated below were obtained from minute books and other documents on file. The records reviewed did not indicate whether the company was controlled by any individual or corporation on February 8, 1894, the date of its demise, nor, on the other hand, whether it then controlled any common-carrier corporation. The company owned on the date of demise approximately 37 miles of standard-gage, steam railroad between Jacksonville and Newbern, N. C., which it acquired by construction. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line. The minute book of the company states that approximately 37 miles of railroad was built by a contractor, who received $200,000 par value of capital stock, and $432,000 par value of 5 per cent first-mortgage bonds dated January 1, 1891, in payment for construction.

Atlantic Coast Line Railroad of South Carolina
Introductory

The records reviewed did not indicate that this company was controlled by any individual or corporation on May 1, 1900, the date of its demise, nor, on the other hand, that it then controlled any common-carrier corporation. The property of this company was operated by its own organization from the date of incorporation July 1, 1898, to the date of its demise.

The railroad operated by the company on the date of demise, 694.74 miles, all owned, consisted of main lines extending from Wilmington, N. C., to Columbia, S. C.; Florence, to Charleston, S. C.; Florence, S. C., to Wadesboro, N. C., and Darlington to Denmark, S. C., with several branch lines. This company used under trackage rights the railroad of the Charleston and Western Carolina Railroad Company between Robbins, S. C., and Augusta, Ga., from December 1, 1899, to the date of demise.

Development of Fixed Physical Property

Of the 694.74 miles of road owned by this company on the date of its demise, it had acquired 236.22 miles from the Wilmington, Columbia and Augusta Railroad Company (of 1879), 110.61 miles from the Cheraw and Darlington Railroad Company, 44.23 miles from the Florence Railroad Company, 160.43 miles from the Manchester and Augusta Railroad Company, 103.50 miles from the Northeastern Railroad Company, other tracks aggregating 5.75 miles for which a description was not obtained, and 34 miles by construction. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line.

Wilmington, Columbia and Augusta Railroad (of 1879)
Introductory

The records reviewed did not indicate that this company was controlled by any individual or corporation on July 18, 1898, the date of its demise. On the other hand, this company then controlled and used, jointly with others, the property of the Wilmington Railway Bridge Company. The extent of such control and use was not indicated by the records reviewed.

The property of this company was operated by its own organization from the date of incorporation, October 1, 1879, until June 1, 1885, when the property was leased to the Wilmington and Weldon Railroad Company for operation. The railroad owned by the company, 236.22 miles, consisted of two lines, one from Wilmington, N. C., to Columbia, S. C., and the other from Boardman, N. C., to Conway, S. C. In addition, this company operated, jointly with the Northeastern Railroad Company, the property of the Central Railroad Company of South Carolina, from April 1, 1882, to date of demise.

Development of Fixed Physical Property

Of the 236.22 miles of road owned by this company on the date of its demise, it had acquired 187.09 miles from the Wilmington, Columbia and Augusta Railroad Company (of 1870), and 49.13 miles from the Wilmington and Conway Railroad Company. Details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Coast Line.

Wilmington, Columbia and Augusta Railroad (of 1870) and the Wilmington and Carolina Railroad
Introductory

The records reviewed did not indicate that this company was controlled by any individual or corporation on October 1, 1879, the date of demise. On the other hand, this company then controlled and used jointly with others the property of the Wilmington Railway Bridge Company. The property of this company was operated by its own organization from acquirement thereof on April 26, 1870, until April 15, 1878, when a receiver was appointed who operated the property until the date of demise. The railroad owned by the company, on date of demise and operated by receivers, 187.09 miles, consisted of a single track, standard-gage, steam railroad, extending from Wilmington, N. C., to Kingsville, S. C., and from Sumter, S. C., to Columbia, S. C.

Development of Fixed Physical Property

Of the 187.09 miles of road owned by the company on the date of demise, it had acquired 170 miles from the Wilmington and Manchester Railroad Company and 42.70 miles by construction under a franchise acquired without recorded cost from the Columbia and Sumter Railroad Company. The company abandoned 25.61 miles of the road purchased. Details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Coast Line.

Wilmington and Manchester Railroad — Predecessor of the Wilmington, Columbia and Augusta Railroad (of 1870)
The accounting records of this company were so incomplete that no definite information could be obtained from them regarding the financial dealings, corporate operations, or investments. However, certain data given below were obtained from the records of the Coast Line.

The records reviewed did not indicate whether the company was controlled by any individual or corporation on the date of its demise, January 5, 1870. On the other hand, the records indicate that this company then controlled and used, jointly with others, the property of the Wilmington Railway Bridge Company, but the extent of such control and use was not disclosed.

The property of the company was operated by its own organization from the date of acquirement thereof to the date of demise.

The railroad owned by the company consisted of approximately 170 miles of single-track, standard-gage, steam railroad, extending from Eagle Island, N. C., to Kingsville, S. C. The entire 170 miles of railroad owned by the company on the date of its demise was acquired by construction. Details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Coast Line.

The Columbia and Sumter Railroad — Predecessor of the Wilmington, Columbia and Augusta Railroad (of 1870)
The accounting records of this company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings or investments. However, certain data indicated below were obtained from other sources. The records reviewed did not indicate whether the company was con trolled by any individual or corporation in 1870, the date of its demise, nor, on the other hand, whether it then controlled any common-carrier corporation. The company acquired no common-carrier property to the date of demise. The records reviewed indicate that it had a franchise to build a railroad from Sumter to Columbia, S. C., which franchise was acquired by the Wilmington, Columbia and Augusta Railroad Company (of 1870) sometime during the year 1870.

Wilmington and Conway Railroad
Introductory

The records reviewed did not indicate that this company was controlled by any individual or corporation on January 1, 1896, the date of demise, nor, on the other hand, that it then controlled any common-carrier corporation. The property of this company was operated by its own organization from the date of its organization, January 18, 1895, until the date of demise. The company owned on the date of its demise 49.13 miles of single-track, standard-gage, steam railroad, extending from Boardman, N. C., to Conway, S. C.

Development of Fixed Physical Property

The 49.13 miles of road owned by the company on the date of demise had been acquired from the Wilmington, Chadbourn and Conway Railroad Company (of S. C.) through foreclosure and reorganization, under deed dated January 18, 1895. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line.

Wilmington, Chadbourn and Conway Railroad (of S.C.) — Predecessor of the Wilmington and Conway Railroad
Introductory

The records reviewed did not indicate that this company was controlled by any individual or corporation on January 18, 1895, the date of its demise, nor, on the other hand, whether it then controlled any common-carrier corporation. The property of the company was operated by its own organization from the date of acquirement thereof to the date of demise. The railroad operated by this company on the date of demise, 49.13 miles of single-track, standard-gage, steam railroad, all owned, extended from Boardman, N. C., to Conway, S. C.

Development of Fixed Physical Property

Of the 49.13 miles of road owned by the company on the date of demise, it had acquired 13.13 miles from the Wilmington, Chadbourn and Conway Railroad Company (of N. C.), and 36 miles by construction. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line.

Wilmington, Chadbourn and Conway Railroad (of N.C.) and Wilmington, Chadbourn and Conwayboro Railroad — Predecessor of the Wilmington, Chadbourn and Conway Railroad (of S.C.)
The accounting records of the Wilmington, Chadbourn and Conway Railroad Company (of North Carolina) were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from other sources.

The records reviewed did not indicate whether the company was controlled by any individual or corporation on March 14, 1887, the date of demise, nor, on the other hand, whether it then controlled any common-carrier corporation. The property of the company was operated by its own organization from the date of acquirement thereof to the date of demise.

The railroad owned by the company on the date of demise consisted of approximately 13.13 miles of single-track, standard-gage, steam railroad, extending from Chadbourn, N. C., to the North Carolina-South Carolina State line. The entire 13.13 miles of road owned by the company on the date of its demise was acquired by construction. Details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Coast Line.

Cheraw and Darlington Railroad
Introductory

The records reviewed did not indicate that this company was controlled by any individual or corporation on July 18, 1898, the date of its demise, nor, on the other hand, that it then controlled any common-carrier corporation. The property of this company was operated by its own organization from the date it acquired its original 39 miles of road by construction, in 1854, until the date of demise. The railroad operated by the company was a single-track, standard-gage, steam railroad, located in North Carolina and South Carolina and aggregating 110.61 miles.

Development of Fixed Physical Property

Of the 110.61 miles of road owned by the company on the date of its demise, it had acquired 39 miles by construction, 24.76 miles from the Cheraw and Salisbury Railroad Company through foreclosure sale, 36.70 miles from the Charleston and Northern Railroad Company by purchase, and 10.15 miles from the Hartsville Railroad Company by purchase. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line.

Cheraw and Salisbury Railroad and Cheraw and Coal Fields Railroad
Introductory

There were no available accounting records of this company for the period from the date of its organization to October 1, 1883. Therefore, only partial information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from other sources.

The records reviewed did not indicate that the company was controlled by any individual or corporation on November 30, 1892, the date of demise, nor, on the other hand, that it then controlled any common-carrier corporation.

The property of this company was operated by the Cheraw and Darlington Railroad Company from 1880 until November 30, 1892, under an agency agreement the terms of which have not been ascertained. The railroad owned by the company, consisted of approximately 24.76 miles of single-track, standard-gage, steam railroad, extending from Wadesboro, N. C., to Cheraw, S. C.

Development of Fixed Physical Property

The entire 24.76 miles of railroad owned by the company on the date of its demise was acquired by it through construction. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line.

Hartsville Railroad
The records reviewed did not indicate that this company was controlled by any individual or corporation on February 27, 1895, the date of its demise, nor, on the other hand, that it then controlled any common-carrier corporation. The property of this company was operated by its own organization from the date of acquirement thereof to the date of demise.

The railroad owned by the company consisted of approximately 10.15 miles of single-track, standard-gage, steam railroad, extending from Hartsville to Floyds, N. C. The entire 10.15 miles of railroad owned by the company on the date of its demise was acquired by construction. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line.

Florence Railroad
Introductory

There were no available accounting records of this company for the period from the date of its incorporation to March 1, 1887. Therefore, only partial information can be given from the accounts regarding its financial dealings, corporate operations, or investments. Certain information indicated hereafter pertaining to the period first mentioned has been taken from other sources.

The records reviewed did not indicate that the company was controlled by any individual or corporation on July 1, 1898, the date of demise, nor, on the other hand, that it then controlled any common-carrier corporation.

The property of this company was operated by its own organization from November 1, 1886, to the date of demise. The railroad operated by the company on the date of demise 44.23 miles, all owned, consisted of a single-track, standard gage, steam railroad, extending from Pee Dee to Clio, S. C.

Development of Fixed Physical Property

The entire 44.23 miles of road owned by the company on the date of its demise had been acquired by construction. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line.

Manchester and Augusta Railroad
Introductory

The records reviewed did not indicate that this company was controlled by any individual or corporation on July 18, 1898, the date of its demise, nor on the other hand, that it then controlled any common-carrier corporation. The property of this company was operated by its own organization from the date it acquired its original 20 miles of railroad by construction in 1889, until the date of demise. The railroad operated by the company was a single-track, standard-gage, steam railroad, located in the State of South Carolina, aggregating 160.43 miles, all of which was owned by this company.

Development of Fixed Physical Property

Of the 160.43 miles of road owned by the company on the date of demise, it had acquired 72.70 miles from the Charleston and Northern Railroad Company, 16.73 miles from the South and North Carolina Railroad Company, and 71 miles by construction. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line.

South and North Carolina Railroad and The Bishopville Railroad
Introductory

No accounting records of the South and North Carolina Railroad Company were obtained for the period from the date of its incorporation to December 31, 1895. Therefore, only partial information can be given from the accounts regarding its financial dealings, corporate operations, or investments. Certain information indicated hereafter pertaining to the period mentioned was taken from other sources.

The records reviewed did not indicate that the company was controlled by any individual or corporation on January 1, 1896, the date of its demise, nor, on the other hand, that it then controlled any common-carrier corporation. The property of this company was operated by its own organization from the date it acquired its original road by construction in 1887 to the date of demise. The railroad owned and operated by the company on the date of demise, 14.42 miles of single-track, standard-gage, steam railroad, extended from Elliotts to Bishopville, S. C.

Development of Fixed Physical Property

The entire 14.42 miles of road owned by the company on the date of demise had been acquired by construction. The company constructed 20 miles of road but abandoned 5.58 miles. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line.

Charleston and Northern Railroad
The above company acquired about 144 miles of road by purchase from the Charleston, Sumter and Northern Railroad Company on February 25, 1895, and on the same date sold parts of its property to three companies, as indicated below: The remaining 4.5 miles of road acquired extending from Merriam to Vance, S. C., was abandoned.

Charleston, Sumter and Northern Railroad and Eutawville Railroad
No records of the above company were found, and therefore no information can be given regarding its financial dealings, the results of its corporate operations, or its investments. The information given below was obtained from records of the Northwestern of South Carolina. The company operated its property with its own organization from the dates constructed until January 19, 1892. A receiver operated the property from this date until February 25, 1895, date of sale after foreclosure to the Charleston and Northern Railroad Company. The railroad owned by the company on the date of sale consisted of about 144 miles of railroad located in South Carolina and North Carolina. It comprised a main line extending from Vance, S. C., to Gibson, N. C., with branches extending from Elloree to Pregnalls, S. C., and from Eutawville to Ferguson, S. C. This prop erty was acquired by construction during the period from 1885 to 1892.

Northeastern Railroad
Introductory

The records reviewed did not indicate that this company was controlled by any individual or corporation on July 18, 1898, the date of demise, nor, on the other hand, that it then controlled any common-carrier corporation. The property of this company was operated by its own organization from May 7, 1855, to the date of demise. The railroad owned and operated by the company was a single-track, standard-gage, steam railroad, located wholly within the State of South Carolina, aggregating 101.91 miles, and extended from Florence to Charleston. It also operated jointly with the Wilmington, Columbia and Augusta Railroad Company about 40 miles of railroad of the Central Railroad Company of South Carolina.

Development of Fixed Physical Property

The entire 101.91 miles of road owned by the company on the date of demise had been acquired by construction. The construction work was all performed by numerous contractors, but an examination of the records available did not disclose that any of them were affiliated with the company. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line.

Southeastern Railroad
The accounting records of this company were incomplete from August 31, 1898, to May 1, 1900, the date of demise. Therefore, only partial information can be given from its accounts regarding its financial dealings, corporate operations, or investments.

The records reviewed indicate that the Southeastern Railroad Company was controlled on May 1, 1900, the date of its demise, by The Atlantic Coast Line Company of Connecticut, through ownership of a majority of its capital stock. On the other hand, the records do not indicate that the company, itself, then controlled any common-carrier corporation. The property of the company was operated by H. D. Wade from the date of completion to the date of demise, under lease agreement. The railroad owned by the company consisted of approximately 11.25 miles of single-track, standard-gage, steam railroad, extending from Elrod to Ashpole, N. C., which had been acquired by it through construction. The records of the company do not indicate that any syndicating arrangements were made in connection with the issuance of its securities. The financial arrangements included the issuance of capital stock and short-term notes for cash from which the company met the construction expenses. The authorized capital stock was $22,000 par value, divided into shares of $100 par value each. The records indicate that cash aggregating $1,100 was paid on the subscriptions to this stock, and that these receipts for subscriptions were outstanding on date of demise. The company issued short-term notes of $123,750 par value to the date of demise, all of which were outstanding. These notes were issued to The Atlantic Coast Line Company of Connecticut in part payment for the construction of its property, and were outstanding on the date of demise.

The Savannah, Florida and Western Railway
Introductory

The accounting records of this company were maintained by its own organization from the date of its incorporation to June 30, 1894, and by the Plant System organization from July 1, 1894, to June 30, 1902. It was controlled on April 10, 1902, by the Plant Investment Company. That was the date for acquisition of the property by the Coast Line, but July 1, 1902, was the effective date.

The property of the company was operated by its own organization from the dates acquired to June 30, 1894. From July 1, 1894, to June 30, 1902, the railroad properties of this company and of other companies together with the properties of certain steamship companies, all controlled by the Plant Investment Company, were merged for operating purposes under the name Plant System. The single organization which conducted operations also kept accounts for the various companies, recording for each the results of corporate operations of its property and the investment in additions and betterments thereto, together with all corporate transactions.

The railroad operated for account of the company on June 30, 1902, consisted of 1,745.5 miles of railroad located in the States of South Carolina, Georgia, Alabama, and Florida. The owned mileage amounted to 1,720.5 miles, and consisted of main lines extending from near Charleston, S. C., to Port Tampa, Fla., and to Montgomery, Ala., together with numerous branches. The mileage operated under lease, 25 miles, consisted of a branch line extending from Winston to Tiger Bay, Fla. It also had trackage rights over about 19 miles of road, extending from Archer to Morristown, Fla.

Development of Fixed Physical Property

The mileage owned by the company, 1,720.5 miles, was acquired as indicated below: Of the mileage shown above as acquired by construction, 16 miles was partly constructed by the Live Oak, Tampa and Charlotte Harbor Railroad Company prior to March 10, 1884, date of its merger into the Savannah, Florida and Western Railway Company. In addition, the company purchased during the year 1888 the franchise of the East Georgia and Florida Railroad Company which had not acquired any property. Details respecting the construction of the above mileage are given in the chapter on development of fixed physical property in the report on the Coast Line.

Atlantic and Gulf Railroad
Introductory

The accounting records of this company for the period from its organization to May 1, 1863, were not obtained. Further, the company discontinued its accounts on February 18, 1877, when its property was taken over by a receiver, and the receiver's accounts for the receivership period, February 19, 1877, to December 8, 1879, are incomplete. Therefore, only partial information can be given from the accounts regarding the financial dealings, corporate operations, and investments.

The records examined do not indicate whether or not any individual or corporation controlled the company or whether it controlled any other common-carrier corporation on November 25, 1879, the date of sale of its property after foreclosure to a reorganized company, The Savannah, Florida and Western Railway Company.

The property of the company, except the section of road mentioned below, was operated by its own organization from the dates acquired to February 18, 1877, and by a receiver from February 19, 1877, to December 8, 1879. The entire property was taken over by The Savannah, Florida and Western Railway Company on December 9, 1879. About 6.5 miles of the company's railroad, extending from Savannah to Central Junction, Ga., was operated from the date constructed to December 8, 1879, by another carrier under lease agreement.

The railroad of the company consisted of 349.77 miles of railroad located in Georgia and Florida. It comprised a main line extending from Savannah to Albany and to Bainbridge, Ga., with branch lines extending from Savannah to Central Junction, Ga., and from Dupont Junction, Ga., to Live Oak, Fla.

Development of Fixed Physical Property

The owned mileage of the company 349.77 miles, was acquired in the manner indicated below. Details respecting the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line.

Savannah, Albany and Gulf Railroad and Savannah and Albany Railroad
No accounting records of the company were obtained, therefore, no information can be given from the accounts regarding its financial dealings, corporate operations, or investments. It has not been ascertained whether the company was controlled by any individual or corporation, or whether it then controlled any other common-carrier corporation, on May 1, 1863, the date of its merger into the Atlantic and Gulf Railroad Company. The company on date of merger owned 68 miles of railroad extending from Savannah to Screven, Ga., which it had constructed during the years 1853 to 1856, and which it had operated with its own organization from November 1, 1856, to date of the merger.

Pensacola and Georgia Railroad
No accounting records of the company were found, therefore, no information can be given from the accounts regarding the cost of constructing any part of its mileage. This company during the period 1864 to 1866 constructed 23 miles of railroad extending from Live Oak, Fla., to the Georgia State line, which it sold to the Atlantic and Gulf Railroad Company on July 17, 1866. It acquired and operated other lines of railroad. This other property, together with the company's franchises, were acquired by a predecessor of the Seaboard Air Line Railway Company.

South Georgia and Florida Railroad
No records of the company were obtained, therefore, no information can be given regarding its financial dealings or investments. It has not been ascertained whether this company was controlled by any individual or corporation, or whether it controlled any other common-carrier corporation on January 15, 1869, date of its merger into the Atlantic and Gulf Railroad Company. This company on the date of the merger owned 31.50 miles of railroad extending from Thomasville to Camilla, Ga., together with 27 miles of partly completed railroad extending from Camilla to Albany, Ga. It acquired this property by construction during the period 1867 to 1869. No part of this property had been placed in operation on date of the merger.

Waycross and Florida Railroad
No accounting records of this company were obtained, therefore, no information can be given from the accounts regarding its financial dealings, corporate operations, and investments. The company was controlled on March 10, 1884, the date of its merger into The Savannah, Florida and Western Railway Company, by the Plant Investment Company through ownership of capital stock. The property of this company was operated from the dates constructed until the date of the merger under lease by The Savannah, Florida and Western Railway Company. The railroad owned by the company on the date of merger consisted of 33.76 miles of railroad located in Georgia, and extended from Waycross, Ga., to the St. Mary's River. It acquired this property by construction during the years 1880 and 1881. According to the records of The Savannah, Florida and Western Railway Company, it issued $400,000 par value of its capital stock and $440,000 par value of its funded debt, par for par, in exchange for the outstanding capital stock and funded debt of the merged company.

The East Florida Railway
No accounting records of this company were obtained, therefore, no information can be given from the accounts regarding its financial dealings, corporate operations, and investments. It was controlled on March 10, 1884, the date of its merger into The Savannah, Florida and Western Railway Company, by the Plant Investment Company through ownership of capital stock. The property of the company was operated from the dates constructed until the date of merger under lease by the Savannah, Florida and Western Railway Company. The railroad owned by the company on the date of merger consisted of 37 miles of railroad located in Florida, and extended from the St. Mary's River to Jacksonville, Fla. It acquired this property by construction during the years 1880 and 1881. According to the records of The Savannah, Florida and Western Railway Company, it issued $716,100 par value of its capital stock and $660,000 par value of its funded debt, par for par, in exchange for the outstanding capital stock and funded debt of the merged company.

Chattahoochee and East Pass Railway
No accounting records of this company were obtained, therefore, no information can be given from the accounts regarding its financial dealings, corporate operations, and investments. It was controlled on March 10, 1884, the date of its merger into The Savannah, Florida and Western Railway Company, by the Plant Investment Company through ownership of the capital stock. The property of the company was operated from the dates constructed until the date of merger under lease by The Savannah, Florida and Western Railway Company. The railroad owned by the company on the date of merger consisted of 2.52 miles of railroad located in Florida, and extended from River Junction, Fla., to the Georgia State line. It acquired this property by construction during the years 1882 and 1883. According to the records of The Savannah, Florida and Western Railway Company, it issued $78,000 par value of its capital stock par for par, in exchange for the outstanding capital stock of the merged company.

Live Oak, Tampa and Charlotte Harbor Railroad
No accounting records of this company were obtained, therefore, no information can be given from the accounts regarding its financial dealings, corporate operations, and investments. It was controlled on March 10, 1884, the date of its merger into The Savannah, Florida and Western Railway Company, by the Plant Investment Company through ownership of the capital stock. The property of the company was operated by its own organization from the dates constructed until the date of merger.

The railroad owned by the company on date of merger consisted of 30 miles of railroad located in Florida, and extended from Brandford, to Newmansville, Fla. It also owned 16 miles of partly constructed road extending from Newmansville to Gainesville, Fla. It acquired this property by construction during the years 1882 to 1884.

Live Oak and Rowland's Bluff Railroad
No accounting records of this company were obtained, and therefore no information can be given from the accounts regarding its financial dealings, corporate operations, and investments. It was controlled on March 10, 1884, the date of its merger into The Savannah, Florida and Western Railway Company, by the Plant Investment Company through ownership of capital stock. The property of the company was operated from the dates constructed until the date of merger under lease by The Savannah, Florida and Western Railway Company. The railroad owned by the company on the date of merger consisted of 23 miles of railroad located in Florida, and extended from Live Oak to Brandford, Fla. It acquired this property by construction during the years 1881 and 1882. According to the records of The Savannah, Florida and Western Railway Company, it issued $365,400 par value of its capital stock, par for par, in exchange for the outstanding capital stock of the merged company.

East Georgia and Florida Railroad
No accounting records of the company were obtained. The only information regarding its affairs has been taken from records of the successor company. The company was authorized by its charter to build a railroad extending from Jesup, Ga., to the St. Mary's River with a branch from Jesup to Millen, Ga. During the year 1888, it sold its franchises to The Savannah, Florida and Western Railway Company. The records examined do not indicate that any physical property was acquired by the East Georgia and Florida Railroad Company.

South Florida Railroad
Introductory

The first available accounting records date from January 1, 1887, but are not complete. For that reason only partial information can be given from the accounts in connection with the finances, operations, or investments. It was not ascertained whether the company was controlled by any individual or corporation on June 30, 1894, the date of demise, not on the other hand, that it controlled any common-carrier corporation. The property of this company was operated by its own organization from the time of acquisition to the date of demise. The railroad owned and operated by the company aggregated 249 miles, all located in the State of Florida, and consisted of two main lines and several branch lines. One main line extended from Sanford to Port Tampa, and the other extended from Bartow to Inverness.

Development of Fixed Physical Property

Of the 249 miles of road owned by the company on the date of demise, it had acquired 142 miles by construction, 17 miles from the Sanford and Indian River Railroad Company, 14 miles from the St. Cloud and Sugar Belt Railway Company, and 75 miles by completion of construction begun by the Jacksonville, Tampa and Key West Railroad Company. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line.

Sanford and Indian River Railroad
The accounting records of the company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. The property of the company was operated by the South Florida Railroad Company from November, 1882, to the date of demise, March 10, 1893. The company owned on the date of its demise, 17 miles of railroad, extending from Sanford to Lake Jesup, Fla., and from Onoro to Lake Charm, Fla., all of which had been acquired by construction. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line.

St. Cloud and Sugar Belt Railway
The accounting records of the company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. The property of the company was operated by its own organization from November 2, 1888, to June 1, 1892. From the latter date to the date of demise, March 10, 1893, it was operated under lease by the South Florida Railroad Company. The company owned on the date of its demise 14 miles of railroad extending from Kissimmee to Noxcossee, Fla., all of which had been acquired by construction. Details with respect to this construction are given in the chapter on development of fixed physical property in the report on the Coast Line.

Jacksonville and St. John's River Railway
The accounting records of the company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. The company owned on the date of its demise, June 5, 1899, 133 miles of railroad, all located in Florida. Its main line extended from Sanford to Jacksonville and its branch lines from De Land to De Land Junction and from Enterprise to Enterprise Junction. All of this property had been acquired from the Jacksonville, Tampa and Key West Railway Company on the same day that the Jacksonville and St. John's River Railway Company demised.

Jacksonville, Tampa and Key West Railway and Tampa, Peace Creek and St. John's River Railroad
The accounting records of the company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. The property of the company was operated by its own organization from the date of acquisition to April 8, 1893, and from the latter date to April 21, 1899, the date of sale of its property (except 28 miles), it was operated by a receiver. The railroad owned by the company on April 21, 1899, aggregated 161 miles and extended from Jacksonville to Tavares, with branches to Enterprise and De Land, all in Florida. Of the road owned on April 21, 1899, 74 miles had been acquired from the Palatka and Indian River Railway Company, 4 miles from the De Land and St. John's River Railroad Company, 28 miles from The Sanford and Lake Eustis Railroad Company, and 55 miles by construction. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line.

Palatka and Indian River Railway — Predecessor of Jacksonville, Tampa and Key West Railway
The accounting records of the company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. The property of the company was operated by its own organization from the completion of construction to April 4, 1887, the date of demise. The company owned on April 4, 1887, about 74 miles of road, extending from Palatka to Sanford and Enterprise to Enterprise Junction, all in Florida. This property had been acquired by construction. Details regarding the construction are given in the chapter on development of fixed physical property in the report on the Coast Line.

De Land and St. John's River Railroad — Predecessor of Jacksonville, Tampa and Key West Railway
The accounting records of the company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. The property was operated by its own organization from the date of acquisition, April 10, 1886, to the date of demise, May 27, 1887. The company owned, on the date of demise, about 4 miles of railroad extending between De Land Junction and De Land Landing, Fla., which had been acquired from the Orange Ridge, De Land and Atlantic Railroad Company. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line.

Orange Ridge, De Land and Atlantic Railroad — Predecessor of De Land and St. John's River Railroad
The accounting records of this company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. The property was operated by R. W. Bond from date of completion to April 10, 1886, the date of sale. The company owned on the date of sale about 6 miles of road, extending from De Land to De Land Landing, Fla., all of which had been acquired by construction during the year 1884. Construction of this property was performed by E. W. Bond, the majority stockholder of the company.

The Sanford and Lake Eustis Railroad — Predecessor of Jacksonville, Tampa and Key West Railway
The accounting records of the company were not obtained. Therefore, no information can be given regarding its financial dealings, corporate operations, or investments. Certain data, stated below, were obtained from the report of the Coast Line on its corporate history. The property was operated from the date of completion of construction in February, 1887, to the date of demise, by the Jacksonville, Tampa and Key West Railway Company. The company owned on May 1, 1890, the date of its demise, about 28 miles of railroad in the State of Florida. Details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Coast Line.

Charleston and Savannah Railway
Introductory

This company was controlled by the Plant Investment Company on July 1, 1901, the date of demise, through ownership of its capital stock. On the other hand, the records reviewed did not indicate that it controlled any common-carrier corporation.

The property of this company was operated by its own organization from the date it was acquired to June 30, 1894. From the latter date to the date of demise the property was operated as a part of the so-called Plant System. All available details concerning the arrangements under which the accounts of the various companies comprised in the system were handled have been given in the report on The Savannah, Florida and Western Railway Company.

The railroad owned by the company on the date of demise was a single-track, standard-gage, steam railroad, located in South Carolina and Georgia, and aggregating 125.73 miles. Its lines extended from St. Andrews, S. C., to Central Junction, Ga., 99.71 miles, and from John's Island to Ashley River, S. C., 5 miles, with branches in South Carolina aggregating 21.02 miles and extending to Yonges Island, Hollywood, Blitches, and Toogoodoo.

Development of Fixed Physical Property

Of the 125.73 miles of road owned by the company on the date of demise, it had acquired 104.71 miles from the Savannah and Charleston Railroad Company and 21.02 miles by construction. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line.

Savannah and Charleston Railroad
Introductory

The only accounting records of this company obtained were those covering the receivership period. For this reason only partial information can be given from the accounts in connection with the finances, operations, or investments.

The records reviewed did not indicate that the company was controlled by any individual or corporation on June 8, 1880, the date of demise, nor, on the other hand, that it controlled any common-carrier corporation.

The property of this company was operated by its own organization from the date it acquired its original 99.71 miles of railroad through foreclosure and reorganization on January 31, 1867, until it went into receivership on April 28, 1874. From the latter date to the date of demise the property was operated by a receiver. The railroad operated by the receiver for the company on the date of demise amounted to 115.71 miles, of which 104.71 was owned and 11 was leased. The owned mileage of the company comprised 99.71 miles of railroad between St. Andrews, S. C., and Central Junction, Ga., and 5 miles in South Carolina, extending from John's Island to Ashley River. The mileage operated under lease consisted of 7 miles between Savannah and Central Junction, Ga., and 4 miles between Ashley Junction and Bee's Ferry, S. C.

Development of Fixed Physical Property

Of the 104.71 miles of railroad owned by the company on the date of demise it had acquired 99.71 miles from The Charleston and Savannah Railroad Company on January 31, 1867, through foreclosure and reorganization, and 5 miles by construction. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Coast Line.

The Charleston and Savannah Railroad — Predecessor of Savannah and Charleston Railroad
The accounting records of this company were not obtained. Therefore, no information can be given from the accounts regarding its financial dealings, corporate operations, or investments. Certain information stated below was obtained from the minute book.

The records reviewed did not indicate whether the company was controlled by any individual or corporation on January 31, 1867, the date of its demise, nor, on the other hand, whether it controlled any common-carrier corporation.

The company owned on the date of demise 99.71 miles of railroad, extending from St. Andrews, S. C., to Central Junction, Ga. This property was all acquired by construction between 1856 and 1860. It was not ascertained whether the construction work was performed by forces of the company or by contract. The property of the company was operated by its own organization from the date it was completed until 1864, when operations were suspended due to the Civil War, and were not resumed prior to the date of demise.

The property and franchises of the company were sold on November 20, 1866, by trustees under a mortgage to Jas. H. Taylor, who conveyed it to the Savannah and Charleston Railroad Company on January 31, 1867. The available information concerning the investment of the company in road and equipment is contained in the minute book which states that such investment in 1861 was $2,998,284. This record indicates that at that time the company had outstanding capital stock amounting to $907,310 and bonds of $1,365,158.

Brunswick and Western Railroad, Brunswick and Albany Railroad, and Brunswick and Florida Railroad
Introductory

No accounting records of the Brunswick and Western Railroad Company were obtained for the period from the date of its organization to December 19, 1882, and such records from the latter date to January 1, 1888, are incomplete. For this reason only partial information can be given from the accounts regarding its financial dealings, corporate operations, and investments. However, certain data indicated hereinafter pertaining to the period from December 19, 1882, to January 1, 1888, were obtained from the minute book.

The company was controlled by the Plant Investment Company on July 1, 1901, the date of demise, through ownership of its capital stock. On the other hand, the records do not indicate that the company then controlled any common-carrier corporation.

The property was operated by its own organization from the date it was completed until October 30, 1871, and from February 23, 1879, to June 30, 1894; by a receiver from October 31, 1871, to July 7, 1874, by a trustee from July 8, 1874, to February 22, 1879, and as a part of the so-called Plant System from June 30, 1894, to the date of demise. All available details concerning the arrangements under which the accounts of the various companies comprised in the system were handled have been given in the section of this report devoted to The Savannah, Florida and Western Railway Company.

The company owned, on the date of demise, 168.50 miles of railroad all in the State of Georgia, extending from Brunswick to Albany.

Development of Fixed Physical Property

All of the 168.50 miles of road owned by the company on the date of demise had been acquired by construction. Details with respect to the construction of this property and the abandonment of a part thereof are given in the chapter on development of fixed physical property on the Coast Line.

The Silver Springs, Ocala and Gulf Railroad
Introductory

No accounting records of this company were obtained for the period from the date of its organization to January 1, 1893. From the latter date to June 30, 1894, the records obtained pertain only to the income and profit and loss accounts. For this reason only partial information can be given from the accounts regarding the financial dealings, corporate operations, or investments. Certain information indicated hereinafter relating to the period prior to January 1, 1893, was obtained from the minute book.

The company was controlled on July 1, 1901, the date of demise, by the Plant Investment Company through ownership of its capital stock. On the other hand, the records do not indicate that it then controlled any common-carrier corporation.

The property of this company was operated by its own organization from the dates of completion thereof until June 30, 1894. From the latter date to the date of demise the property was operated as a part of the so-called Plant System. All available details concerning the arrangements under which the accounts of the various companies comprised in that system were handled have been given in the section of this report on The Savannah, Florida and Western Railway Company.

The company owned on the date of its demise 64.24 miles of railroad, all in the State of Florida, comprising lines extending from Ocala to Homosassa, 49.24 miles, and from Gulf Junction to Inverness, 15 miles.

Development of Fixed Physical Property

The entire 64.24 miles of road owned by the company on the date of its demise had been acquired by it through construction. Details with respect to this construction are given in the chapter on development of fixed physical property on the Coast Line.

Tampa and Thonotosassa Railroad
The accounting records of this company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from its minute book and from the records of the Plant Investment Company.

The company was controlled on July 1, 1901, the date of its demise, by the Plant Investment Company through ownership of its capital stock. On the other hand, the records reviewed do not indicate that it then controlled any common-carrier corporation.

The property of the company was operated by its own organization from January 1, 1894, to June 30, 1894. From the latter date to January 1, 1900, the property was operated as a part of the so-called Plant System. All available details concerning the arrangements under which the accounts of the various companies comprised in that system were handled have been given in the section of this report on The Savannah, Florida and Western Railway Company. From January 1, 1900, to the date of demise the property was operated by The Savannah, Florida and Western Railway Company.

The company owned on the date of demise 13.33 miles of railroad, all in the State of Florida, extending from Thonotosassa to Thonotosassa Junction, which had been acquired by construction. The minute book states that construction of the road had been performed by the Plant Investment Company.

The Alabama Midland Railway
Introductory

The accounting records of this company were incomplete. For this reason only partial information can be given from its accounts regarding its financial dealings, corporate operations, or investments. Certain information indicated hereinafter has been obtained from the company's minute book and from the report of the Coast Line on its corporate history.

The records reviewed indicated the company was controlled on July 1, 1901, the date of its demise, by the Plant Investment Company. On the other hand, the records reviewed did not indicate that this company then controlled any common-carrier corporation.

The property of this company was operated by its own organization from the date it acquired its first section of road to June 30, 1894. From the latter date to the date of demise the property was operated as part of the so-called Plant System. All available details concerning the arrangements under which the accounts of the various companies comprised in that system were handled have been given in the report on The Savannah, Florida and Western Railway Company.

The railroad owned and operated by the company on the date of demise, aggregating 207 miles, was located in the States of Alabama and Georgia. It extended from Bainbridge, Ga., to Sprague, Ala., 156 miles, and from Montgomery to Luverne, Ala., 51 miles. In addition to the owned railroad operated by the company, it operated as agent for account of the owners thereof, the railroad of the Abbeville Southern Railway Company, 26.90 miles, from December 1, 1893, to July 1, 1901, and the railroad of The Southwestern Alabama Railway Company, 37.22 miles, from October, 1898, to July 1, 1901.

Development of Fixed Physical Property

Of the 207 miles of road owned by the company on the date of demise the Coast Line reports in its corporate history that 51 miles had been acquired by purchase from the Alabama Terminal and Improvement Company and 156 miles by construction. The construction work for the company was performed under contract by the Alabama Terminal and Improvement Company. It was not determined from the records examined whether the Alabama Terminal and Improvement Company was affiliated with The Alabama Midland Railway Company. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Coast Line.

Northwestern and Florida Railroad
The accounting records of the company were not obtained. Therefore, no information can be given from the accounts regarding its financial dealings, corporate operations, or investments. Certain information stated below was obtained from the report of the Coast Line on its corporate history. The available records did not indicate whether the company was controlled by any individual or corporation on December 30, 1889, the date of its demise, nor, on the other hand, whether it then controlled any common-carrier corporation. The property of this company was operated by its own organization from the date it acquired possession thereof, July 14, 1888, to January 1, 1890. The company owned on the date of demise 51 miles of railroad, extending from Montgomery to Luverne, Ala., all of which had been acquired by purchase.

Montgomery and Florida Railway — Predecessor of Northwestern and Florida Railroad
The accounting records of the company were not obtained. Therefore, no information can be given from the accounts regarding the financial dealings, corporate operations, or investments. Certain information stated below was obtained from the report of the Coast Line on its corporate history. The available records do not indicate whether the company was controlled by any individual or corporation on July 14, 1888, the date of demise, nor, on the other hand, whether it then controlled any common-carrier corporation. The property of this company was operated by its own organization from the date of its acquisition to February 29, 1888, and by a receiver from the latter date to the date of demise. The company owned on the date of demise 51 miles of railroad extending from Montgomery to Luverne, Ala. Of the 51 miles of road owned by the company on the date of demise, 20 miles had been acquired by purchase and 31 miles by construction.

The Montgomery Southern Railway — Predecessor of Montgomery and Florida Railway
The accounting records of the company were not obtained. Therefore, no information can be given from the accounts regarding the financial dealings, corporate operations, or investments. Certain information stated below was obtained from the report of the Coast Line on its corporate history. The available records do not indicate whether the company was controlled by any individual or corporation on May 24, 1886, the date of sale after foreclosure to the Montgomery and Florida Railway Company, nor, on the other hand, whether it then controlled any common-carrier corporation. The property of the company was operated by its own organization from April, 1882, to the date of sale. The company owned on the date of demise 20 miles of railroad extending from Montgomery to Ada, Ala., all of which was acquired by construction during the period 1880 to 1882.

Abbeville Southern Railway
Introductory

This company was controlled on September 2, 1901, the date of demise, by the Plant Investment Company, through ownership of its capital stock. On the other hand, the records reviewed did not indicate that it then controlled any common-carrier corporation. The property of this company was operated from the date of completion thereof to date of demise, under an agreement whereby The Alabama Midland Railway Company or The Savannah, Florida and Western Railway Company acted as agent of the company. The railroad owned by the company, 26.90 miles, all in Alabama, extended from Grimes to Abbeville.

Development of Fixed Physical Property

All of the 26.90 miles of railroad owned by the company on the date of demise had been acquired by construction. The records reviewed indicate that construction had been performed by the Plant Investment Company under contract. Details with respect to the construction of this property are given in the chapter on development of fixed physical property on the Coast Line.

The Southwestern Alabama Railway
Introductory

This company was controlled on September 2, 1901, the date of demise by the Plant Investment Company, through ownership of its capital stock. On the other hand, the records reviewed did not indicate that it then controlled any common-carrier corporation. The property of this company was operated from date of completion thereof to the date of demise by The Alabama Midland Railway Company or by The Savannah, Florida and Western Railway Company as its agent. The railroad owned by the company on date of demise, 37.22 miles, extended from Waterford to Elba, all in Alabama.

Development of Fixed Physical Property

The entire 37.22 miles of railroad owned by the company on the date of demise had been acquired by construction. The records reviewed indicates that construction had been performed for it by the Plant Investment Company. Details with respect to the construction of this property are given in the chapter on development of fixed physical property on the Coast Line.

Ashley River Railroad
Introductory

It was not ascertained whether this company was controlled by any individual or corporation on September 2, 1901, the date of demise, nor, on the other hand, whether it controlled any common-carrier corporation. The property of this company was operated under lease by the receiver of the Savannah and Charleston Railroad Company, or its successor, the Charleston and Savannah Railroad Company, from January 1, 1878, the date of completion of construction, until July 1, 1901. From the latter date to the date of demise, it was operated under lease by The Savannah, Florida and Western Railway Company. The railroad owned by the company on the date of its demise, 4 miles, all located in South Carolina, extended between Ashley Junction and Bee's Ferry, across the Ashley River.

Development of Fixed Physical Property

The road owned by the company on the date of demise, 4 miles, was acquired by construction during the period 1876 to 1878.

Greenpond, Walterboro and Branchville Railroad and Greenpond, Walterboro and Branchville Railway
Introductory

The available accounting records of this company cover the period from May 1, 1890, and no transactions are recorded therein after June 30, 1894. Therefore, only partial information can be given from the accounts regarding its financial dealings, corporate operations, and investments.

It was not ascertained whether or not the Greenpond, Walterboro and Branchville Railroad Company, was controlled by any individual or corporation on September 2, 1901, the date of its demise, nor, on the other hand whether or not it then controlled any common-carrier corporation.

The property of the company was operated by its own organization from March 1, 1887, to June 30, 1894. From the latter date to the date of demise, the property was operated as a part of the so-called Plant System. All available details concerning the arrangements under which the accounts of the various companies comprised in that system were handled have been given in the section of this report devoted to The Savannah, Florida and Western Railway Company.

The railroad owned by the company about 37.67 miles, extended from Green pond to Ehrhardts, all in South Carolina.

Development of Fixed Physical Property

Of the 37.67 miles of road owned by the company, 12 miles had been acquired by construction and 25.67 miles had been acquired from the Walterboro and Western Railroad Company. Details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Coast Line.

Walterboro and Western Railroad
Introductory

It was not ascertained whether or not this company was controlled by any individual or corporation on February 12, 1900, the date of its demise, nor, on the other hand, whether or not it then controlled any common-carrier corporation. The property of this company was operated by its own organization from September 10, 1895, the date of acquisition, to February 28, 1898. From the latter date to the date of demise the property was operated as a part of the so-called Plant System. All available details concerning the arrangements under which the accounts of the various companies comprised in that system were handled have been given in the section of this report devoted to The Savannah, Florida and Western Railway Company. The railroad owned by the company, about 25.67 miles, all in South Carolina, extended from Walterboro to Ehrhardts.

Development of Fixed Physical Property

Of the 25.67 miles of road owned by the company, 14 miles had been acquired from the Stokes & Raysor Lumber Company and 11.67 miles had been acquired by construction. Details with respect to the construction of this property are given in the chapter on development of fixed physical property on the Coast Line.

St. John's and Lake Eustis Railroad
The accounting records of this company were fragmentary. Therefore, no definite information could be obtained therefrom regarding the financial dealings, corporate operations, or investments. However, certain data, stated hereinafter, were obtained from the report of the Coast Line on its corporate history, the accounting records of that company, and those of the Plant System. The property of this company was operated from December 15, 1896, shortly after purchase, until the date of demise, as a part of the so-called Plant System. All available details concerning the arrangements under which the accounts of the various companies comprised in that system were handled have been given in the report on The Savannah, Florida and Western Railway Company. The company owned on June 12, 1902, the date of demise, about 48 miles of standard-gage railroad in the State of Florida, which it had acquired at foreclosure sale. Details with respect to the construction and reconstruction to standard gage of this property are given in the chapter on development of fixed physical property of the Coast Line.

St. John's and Lake Eustis Railway
The accounting records of this company were fragmentary. Therefore, no definite information could be obtained from them regarding the financial dealings, corporate operations, or investments. However, certain data, given below, were obtained from the report of the Coast Line on its corporate history. This company operated its road from the date construction was completed until January 1, 1885, on which date the road was leased to The Florida Southern Railway Company. The road was operated by the last-named company and its lessee, The Jacksonville, Tampa and Key West Railway Company, until March 18, 1890, when the lease was canceled and operations were resumed by the St. John's and Lake Eustis Railway Company. A receiver was appointed and operated the property from August, 1893, until February 21, 1896, when the property was sold under foreclosure proceedings to F. Q. Brown.

The company owned on February 21, 1896, the date of its demise, about 48 miles of narrow-gage railroad in the State of Florida which it had constructed in the years 1879 to 1884. Details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Coast Line.

Florida Midland Railway
The accounting records of this company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. Certain data, stated below, were obtained from the reports of the Coast Line on its corporate history. The company owned on April 10, 1896, the date of its demise, about 34 miles of railroad in the State of Florida. Details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Coast Line. In addition to the 34 miles referred to, this company built an extension of about 3 miles which was abandoned in the same year and prior to being placed in operation. It also abandoned, during the years 1904 to 1906, the line between Longwood and Apopka, about 10 miles. The property was operated by the company’s own organization until November 7, 1891, after which date, and until date of demise, the operations were conducted by receivers. The property was sold under foreclosure proceedings and was conveyed on April 10, 1896, to M. E. Bishop who, on April 17, 1896, conveyed the property to the Plant In vestment Company. The last-named company operated the road until July 1, 1902, on which date the property was conveyed to the Coast Line.

Sanford and St. Petersburg Railway
Introductory

The accounting records of this company were not obtained. Therefore, no information can be given from that source regarding its financial dealings, corporate operations, or investments. However, certain data, given herein, were obtained from the books of the so-called Plant System and from the report of the Coast Line on its corporate history.

The property of the company was operated by its own organization from date of purchase, December 7, 1893, to March 31, 1895. From the latter date to June 30, 1902, the property was operated as a part of the so-called Plant System. All available details concerning the arrangements under which the accounts of the various companies comprised in that system were handled have been given in the section of this report on The Savannah, Florida and Western Railway Company. From July 1, 1902, to date of demise, the property was operated for the Sanford and St. Petersburg Railway Company by the Coast Line, as agent.

The road owned by the company extended from Sanford to St. Petersburg, Fla., 156.68 miles.

Development of Fixed Physical Property

The road owned by the company on the date of its demise was the property formerly owned by the Orange Belt Railway Company which had been sold to individuals under foreclosure proceedings. Details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Coast Line.

Orange Belt Railway
The accounting records of the company were not obtained. Therefore, no information can be given regarding its finances, corporate operations, or investments. However, certain data, given below, were obtained from the report of the Coast Line on its corporate history. The property was operated by its own organization from date the several sections of road were completed to December 7, 1893, the date of demise. The road owned by the company had been constructed by it during the period from 1885 to 1889, and extended from Sanford to St. Petersburg, Fla., 156.68 miles.

The Florida Southern Railroad
Introductory

The records reviewed did not indicate by whom this company was controlled on March 19, 1903, the date of demise. Neither did the records indicate that this company controlled any common-carrier corporation.

The property was operated by receivers during the period from August 1, 1892, to April 8, 1893. Prior to August 1, 1892, and from April 8, 1893, to November 30, 1895, the property was operated by its own organization. From the latter date to June 30, 1902, the property was operated as a part of the so called Plant System. All available details concerning the arrangements under which the accounts of the various companies comprised in that system were handled have been given in the report on The Savannah, Florida and Western Railway Company. From July 1, 1902, to date of demise, the property was operated by the Coast Line as agent for this company.

The railroad owned by the company was a single-track, standard-gage steam railroad located in the State of Florida, and aggregated about 248 miles in length.

Development of Fixed Physical Property

Of the 248 miles of road owned by the company on the date of its demise, about 237 miles had been formerly owned by The Florida Southern Railway Company, about 6 miles were acquired from the Yalaha and Western Railroad Company, and about 5 miles were constructed. In addition, this company had partly constructed about 28 miles of road between Punta Gorda and Fort Myers, Fla. Details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Coast Line.

The Florida Southern Railway and Gainsville, Ocala and Charlotte Harbor Railroad
The accounting records of this company were of such a fragmentary nature that little information could be obtained from them regarding its financial dealings, corporate operations, or investments. However, the data obtained therefrom and from the report of the Coast Line on its corporate history are given below.

The company constructed during the period from 1881 to 1886 about 237 miles of single-track, standard-gage, steam railroad, in the State of Florida, extending from Gainesville to Palatka, Rochelle to Brooksville, and Bartow to Punta Gorda, together with branch lines extending to Micanopy and Citra. This company leased on January 1, 1885, from the St. John's and Lake Eustis Railway Company, about 48 miles of road between Astor and Lane Park and Fort Mason and Leesburg Junction.

The owned and leased property was operated by the company until January 1, 1889, after which date and until March 18, 1890, it was operated under lease by the Jacksonville, Tampa and Key West Railway Company. The receiver of The Florida Southern Railway Company operated the owned road from March 18, 1890, to April 30, 1892, when the property was sold under court proceedings. The individuals who bought the property conveyed it to The Florida Southern Railroad Company by deed of June 2, 1892, effective as of May 1, 1892.

This company made a contract with the Florida Commercial Company for the construction of that portion of the road between Gainesville and Palatka, about 49 miles in length. The contractor was to receive $26,000 per mile of road constructed, the payment to be made with $15,000 par value of capital stock and $11,000 par value of bonds. The available records of the contractor indicate the expenditure of $328,578.85 in building that section of the road.

Yalaha and Western Railroad
The accounting records of the company were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. The Coast Line, in its report on its corporate history, states that the Yalaha and Western Railroad Company constructed during 1901 and 1902 about 6 miles of railroad between Yalaha and Okahumpka, Fla., that the property was sold on February 11, 1902, to the Plant Investment Company, which conveyed it to The Florida Southern Railroad Company on July 3, 1902; and that the property had been operated, under agreement, by The Florida Southern Railroad Company from February, 1902, until July 3, 1902.

Jacksonville and Southwestern Railroad
Introductory

The accounting records of this company prior to July 1, 1903, were not obtained. The records reviewed indicate that the company was controlled by the Coast Line on July 28, 1904, the date of demise, and that it did not then control any common-carrier corporation. The property of this company was operated by its own organization from completion of construction in December, 1899, until the date of demise. The railroad owned and operated by the company was a single-track, standard-gage, steam railroad, located in the State of Florida, and extended from Milldale to Newberry, about 86 miles. This company had partly constructed an extension of about 4 miles beyond Newberry at the date of demise.

Development of Fixed Physical Property

The 86 miles of road and the 4 miles of partly constructed road owned by the company on the date of its demise had been acquired by construction. Details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Coast Line.

Winston and Bone Valley Railroad
Introductory

The accounting records of this company were not obtained for the period prior to May 1, 1903. On that date books of account were begun from which the data herein given were taken. The records reviewed indicate that the company was controlled by the Coast Line on February 18, 1909, the date of demise, and that it did not then control any common-carrier corporation. The property was operated at all times as a part of the so-called Plant System. All available details concerning the arrangements under which the accounts of the various companies comprised in the system were handled have been given in the report on The Savannah, Florida and Western Railway Company. The railroad owned by the company was a single-track, standard-gage, steam railroad, located in the State of Florida, and extended from Winston to Tiger Bay, about 25 miles.

Development of Fixed Physical Property

Of the 25 miles of road owned by the company on the date of demise, it had acquired about 15 miles from the Winston Lumber Company and about 10 miles by construction. Details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Coast Line.

Conway Coast and Western Railroad and Conway Seashore Railroad
Introductory

This company was controlled on July 1, 1912, the date of its sale by the Coast Line. On the other hand, the records reviewed do not indicate that this company controlled any other carrier corporation. The property of this company was operated by its own organization from date placed in operation until date of demise. The railroad operated by the company was a single-track, standard-gage, steam railroad, which extended from Aynor to Myrtle Beach, S. C., about 30 miles.

Development of Fixed Physical Property

The road owned by the company, on the date of its demise, was all acquired by construction. It is not known whether the construction work was performed by it or under contract. Details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Coast Line.

Sanford and Everglades Railroad
The accounting records of the company were not obtained. Therefore, no information can be given regarding its financial dealings, corporate operations, or investments. The Coast Line states in its report upon its corporate history that the Sanford and Everglades Railroad Company constructed about 11.5 miles of railroad between Sanford and Mecca Junction during the period from 1908 to 1910, and operated the property until October 13, 1913. It also reported that on the latter date the road between Mecca Junction and S. & E. Junction, about 9.42 miles in length, was conveyed to the Coast Line and the remainder of the road abandoned.

Florida Central Railroad
Introductory

This company was incorporated June 23, 1907, under the general laws of Georgia and filed its articles of association in Florida, October 22, 1907. The records reviewed do not indicate that the company was controlled by any individual or corporation on October 7, 1914, the date of sale, nor, on the other hand, that it then controlled any common-carrier corporation. The property of this company was operated by its own organization from the date of completion of the first section of its road, October 1, 1907, until May 31, 1912, and from that date to the date of sale, October 7, 1914, by a receiver. The railroad operated by the receiver of, and owned by, the company on the date of sale, 47.81 miles, consisted of a single-track, standard-gage, steam railroad extending from Thomasville, Ga., to Fanlew, Fla.

Development of Fixed Physical Property

The railroad owned by the company on the date of sale had been acquired by construction. On the date of sale about 15.81 miles of road extending from Thomasville, Ga., to Fincher, Fla., was abandoned and the remainder, extending from Fincher to Fanlew, Fla., about 32 miles, was sold through an intermediary to the Coast Line under a decree of foreclosure.