Wikipedia:WikiProject Trains/ICC valuations/Milledgeville Railway

Interstate Commerce Commission, Valuation Reports, Volume 110

Location and General Description of Property
The railroad of Milledgeville Railway Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in the city and environs of Milledgeville, Ga. The owned mileage consists of 6.367 miles of main line and 1.916 miles of yard and side tracks. Its road thus embraces 7.282 miles of all tracks owned. In Appendix 1 will be found further description of the property of the carrier.

Corporate History
The carrier was incorporated February 14, 1896, under the general laws of the State of Georgia, to acquire, maintain, and operate the property formerly owned by Old Capital Railway Company, extending from Milledgeville to the Georgia State Sanitarium, a distance of about 3 miles, which property was sold at foreclosure February 13, 1896. This property was conveyed by deed dated February 13, 1896, to Samuel Lumpkin, who by deed dated February 14, 1896, conveyed the property to the carrier. The organization of the carrier was perfected on February 15, 1896. The carrier is controlled by the Atlantic Coast Line Railroad Company and the Louisville and Nashville Railroad Company, hereinafter referred to as the controlling companies, through equal ownership of its entire outstanding capital stock. Its principal office is located at Augusta, Ga. The detailed facts as to the development of the fixed physical property are given in Appendix 2.

Development of Fixed Physical Property
The property owned by the carrier on date of valuation was acquired as follows: The branch line was completed and opened for operation during the summer of 1899, and the extension during the summer of 1901.

Leased Railway Property
The carrier on date of valuation used certain yard tracks and terminal facilities at Milledgeville, under lease from the Georgia Railroad (Lessee Organization), paying rental therefor based on the proportion of the total tonnage handled. The rental paid for these facilities for the year ended on date of valuation could not be identified in the obtainable accounting records.

Old Capital Railway Company
The Old Capital Railway Company was incorporated under the general laws of the State of Georgia on June 29, 1893, for the purpose of acquiring and operating the railroad formerly owned by the Milledgeville & Asylum Dummy Railroad Company, extending from a connection with the railroad of the Georgia Railroad and Banking Company at Milledgeville southeastwardly to the Georgia State Sanitarium, about 3 miles. The property of the Milledgeville & Asylum Dummy Railroad Company was sold under foreclosure proceedings on May 30, 1893, and was conveyed by deed of the same date to W. T. Conn et al., who conveyed it on June 26, 1893, to Samuel Lumpkin and W. W. Lumpkin. The last-named parties organized the Old Capital Railway Company and conveyed the same property to it by deed dated July 1, 1893. The Old Capital Railway Company assumed control of the property on June 29, 1893, and operated it with its own organization from that date to December 30, 1895. From December 30, 1895, to February 14, 1896, it was operated by Thomas K. Scott, receiver. The property was sold at foreclosure on February 13, 1896, and conveyed by deed of the same date to Samuel Lumpkin, who on February 14, 1896, conveyed it to the carrier. No accounting records of the company were obtainable and no information could be secured relative to its financial affairs, corporate operations, or property investments.

Milledgeville & Asylum Dummy Railroad Company
The Milledgeville & Asylum Dummy Railroad Company was incorporated by a special act of the Georgia Legislature approved December 24, 1888. The company constructed (exact date unknown) about 3 miles of railroad extending from a connection with the railroad of the Georgia Railroad and Banking Company at Milledgeville southeastwardly to the Georgia State Sanitarium. The owned line of the company was operated by its own officers from the date of completion to its demise, May 30, 1893, and the same organization continued the operation of the property for the owners from that date to June 29, 1893. The property was sold at foreclosure on May 30, 1893, and conveyed by deed of that date to W. T. Conn et al., who reconveyed it on June 26, 1893, to Samuel Lumpkin and W. W. Lumpkin. The last-named parties conveyed the property on July 1, 1893, to the Old Capital Railway Company. No accounting records or other information could be obtained relative to the financial affairs, corporate operations, or property investments of the Milledgeville & Asylum Dummy Railroad Company.