Wikipedia:WikiProject Trains/ICC valuations/Southern Railway – Carolina Division

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Southern Railway – Carolina Division was organized at the instigation of the Southern to take over the properties owned by Asheville & Spartanburg Railroad Company, South Carolina and Georgia Railroad Company, The Carolina Midland Railway Company, and South Carolina & Georgia Extension Railroad Company. Incorporation was effected under an act of South Carolina, approved February 19, 1902, by filing with the secretary of state on June 23, 1902, a consolidation agreement between the four companies above named. The company was formally organized on June 26, 1902, but the corsolidation was not perfected until July 1, 1902.
 * CORPORATE HISTORY

On December 30, 1902, the Southern Railway – Carolina Division acquired by purchase the property of the Sumter and Wateree River Railroad Company.

The Southern Railway – Carolina Division and the five companies named in the two preceding paragraphs, together with their predecessors total 30 different corporations, of which 7 underwent a change of name. [...]

Of the 716.588 miles of road owned by Southern Railway – Carolina Division, about 699 miles were acquired in the consolidation of 1902, about 15.8 miles were acquired by purchase from the Sumter and Wateree River Railroad Company, and about 1.80 miles were constructed by the Southern. Of the 36 corporations, which comprise the line of succession culminating in the Southern Railway – Carolina Division, as at present constituted, 16 corporations did not construct any road or other common-carrier property. These companies were:
 * DEVELOPMENT OF FIXED PHYSICAL PROPERTY
 * Spartanburg and Asheville Railroad Company.
 * The Greenville and French Broad Railroad Company.
 * The Spartanburg, Union and Columbia Railroad Company.
 * Spartanburg & Union Railroad.
 * South Carolina & Georgia Extension Railroad Company.
 * South Carolina & Georgia Extension Railroad Company of South Carolina.
 * South Carolina and Georgia Extension Railroad Company of North Carolina.
 * Ohio River & Charleston Railway Company.
 * The Ohio River & Charleston Railway Company of North Carolina.
 * The Ohio River & Charleston Railway Company of South Carolina.
 * Ohio River and Charleston Railway Company of Tennessee.
 * Ohio River and Charleston Railroad Company of Virginia.
 * Georgia and Carolina Midland Railroad Company.
 * Augusta, Edgefield and Newberry Railroad Company.
 * The Atlantic and Northwestern Railroad Company.
 * Rutherford, Marion and Tennessee Railway Company.

The property constructed by the remaining corporations, the dates when the various portions of the lines were constructed, and the manner in which the Southern Railway – Carolina Division 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.

Acquired in the consolidation of 1892:
 * From Asheville & Spartanburg Railroad Company—
 * Constructed by Asheville & Spartanburg Railroad Company, Hendersonville to Biltmore, N. C., 1886 19.80
 * Constructed by Spartanburg and Asheville Railroad Company (No. 2), Spartanburg, S. C., to Hendersonville, N. C., 1879 47.67
 * Constructed by Spartanburg and Union Railroad Company, Alston to Spartanburg, S. C., 1861 67.93
 * Aggregate mileage constructed by Asheville and[sic] Spartanburg Railroad Company and its predecessors 135.40
 * Less adjustments on account of remeasurement 1.46
 * 133.94
 * From The Carolina Midland Railway Company—
 * Constructed by The Carolina Midland Railway Company—
 * Barnwell to Allendale, S. C., 1891 16.30
 * Perry to Cayce, S. C., 1899 31.12
 * Allendale to Hardeeville, S. C., 1900 61.60
 * Constructed by Blackville, Alston and Newberry Railroad Company, Blackville to Sievern, S. C., 1888 28.05
 * Constructed by The Barnwell Railway Company, Blackville to Barnwell, S. C., 1882 9.30
 * 136.27
 * From South Carolina and Georgia Railroad Company—
 * Constructed by South Carolina and Georgia Railroad Company, Kaolin to Immaculate Mines, S. C., 1902 2.60
 * Constructed by The South Carolina Railway Company, Burton Branch, 1883 3.40
 * Constructed by South Carolina Rail Road Company—
 * Branchville to Columbia, S. C., 1840 66.30
 * Kingsville to Camden, S. C., 1848 37.10
 * Hamburg, S. C., to Augusta, Ga., bridge across Savannah River, 1853 1.80
 * Constructed by The South Carolina Canal and Rail Road Company—
 * Charleston, S. C., to a point about 6 miles west, 1830 6.00
 * From connection with the above-mentioned track about 6 miles west of Charleston to Hamburg, S. C., 1883[sic - 1833] 129.70
 * Aggregate mileage constructed by South Carolina and Georgia Railroad Company and its predecessors 246.90
 * Less adjustment because of remeasurement of the line from Charleston, S. C., to Augusta, Ga. 1.00
 * 245.90
 * From South Carolina & Georgia Extension Railroad Company—
 * Constructed by Charleston, Cincinnati and Chicago Railroad Company—
 * Blacksburg to Gaffney, S. C., date of opening for operation not known 10.50
 * Rutherfordton to Marion, N. C., 1890 23.90
 * Constructed partly by The Rutherford Railway Construction Company and completed by Charleston, Cincinnati and Chicago Railroad Company, Camden, S. C., to Rutherfordton, N. C., 1889 147.50
 * 181.90
 * Acquired by purchase from Sumter and Wateree River Railroad Company, subsequent to consolidation, constructed by that company, Sumter to Sumter Junction, S. C., 1899 15.81
 * Constructed for Southern Railway – Carolina Division by the Southern and included in its records as improvements on leased railway property extension to Burton branch, date of opening for operation not known 1.80
 * Total 715.62
 * Difference between recorded mileage and mileage inventoried on date of valuation 0.968
 * Mileage inventoried on date of valuation 716.588

The 214.24 miles of road owned by this company at date of its demise were acquired by it in the consolidation of November 23, 1894; 117.93 miles from The Ohio River & Charleston Railway Company of South Carolina, 63.97 miles from The Ohio River & Charleston Railway Company of North Carolina, and 32.34 miles from the Ohio River & Charleston Railway Company of Tennessee. Details with respect to the construction of this property are given in the chapter on development of fixed physical property for Southern Railway – Carolina Division.
 * OHIO RIVER & CHARLESTON RAILWAY COMPANY—PREDECESSOR OF SOUTH CAROLINA & GEORGIA EXTENSION RAILROAD COMPANY OF SOUTH CAROLINA AND OF SOUTH CAROLINA AND GEORGIA EXTENSION RAILROAD COMPANY OF NORTH CAROLINA

The property above referred to was operated by the Ohio River & Charleston Railway Company from November 23, 1894, to August 13, 1898. [?] No accounting records are available for the Ohio River & Charleston Railway Company. The information herein contained is taken from a return made by the Southern and annual reports filed by the Ohio River & Charleston Railway Company with this commission. The property in South Carolina and North Carolina was sold to Samuel Hunt and others, for an upset price of [?] This sale was confirmed on August 10, 1898, and conveyance was made to the purchasers August 13, 1898. These purchasers subsequently organized the South Carolina & Georgia Extension Railroad Company of South Carolina and the South Carolina and Georgia Extension Railroad Company of North Carolina, to which they conveyed the property, rights, franchises, etc., in South Carolina and North Carolina, respectively, by deeds dated December 14, 1898, which deeds state that securities of the grantees were issued to the grantors as the purchase price. In a report to this commission, under date of June 30, 1898, the Ohio River & Charleston Railway Company gave [?] A footnote in that report stated that the stock was issued at the rate of $25,000 per mile for completed road; $15,000 per mile for graded road in Tennessee, and at the rate of $16,000 per mile for graded road in Virginia.

The 63.97 miles of road owned by this company on date of its demise was acquired on November 13, 1894, from C. E. Hellier, purchaser at foreclosure sale of the property of the Charleston, Cincinnati and Chicago Railroad Company for a deed consideration of 16,030 shares of the capital stock of The Ohio River & Charleston Railway Company of North Carolina, having a total par value of [?] In a return made by the Southern it is assumed that this property was operated for account of and by The Ohio River & Charleston Railway Company of North Carolina, from July 17, 1893, to November 23, 1894.
 * THE OHIO RIVER & CHARLESTON RAILWAY COMPANY OF NORTH CAROLINA—PREDECESSOR OF OHIO RIVER & CHARLESTON RAILWAY COMPANY

The 117.93 miles of road owned by this company on date of its demise were acquired by it from C. E. Hellier, purchaser at foreclosure sale of the property of the Charleston, Cincinnati and Chicago Railway[sic] Company for a deed consideration of 26,800 shares of capital stock of The Ohio River & Charleston Railway Company of South Carolina, having a par value of [?] In a return made by the Southern it is assumed that this property was operated for account of and by The Ohio River & Charleston Railway Company of South Carolina, from June 17, 1893, to November 23, 1894.
 * THE OHIO RIVER & CHARLESTON RAILWAY COMPANY OF SOUTH CAROLINA—PREDECESSOR OF OHIO RIVER & CHARLESTON RAILWAY COMPANY

No accounting records of this company are available. In a return made by the Southern it is stated that, while no record could be obtained showing that the rights and franchises in Virginia, formerly owned by the Charleston, Cincinnati and Chicago Railroad Company, were conveyed to the Ohio River and Charleston Railroad Company of Virginia, it is believed that such conveyance was made by C. E. Hellier, purchaser at foreclosure of the property of the former. From this return it appears that no property was constructed in Virginia by the Ohio River and Charleston Railroad Company of Virginia or its predecessors.
 * OHIO RIVER AND CHARLESTON RAILROAD COMPANY OF VIRGINIA—PREDECESSOR OF OHIO RIVER & CHARLESTON RAILWAY COMPANY

The 32.34 miles of road owned by this company on date of its demise were acquired from the Charleston, Cincinnati and Chicago Railroad Company. Details with respect to the construction of this property are given in the chapter on development of fixed physical property for Southern Railway – Carolina Division. In a return made by the Southern that company states that, while no record is available showing that the title to the property above referred to was conveyed to the Ohio River & Charleston Railway Company of Tennessee, it is believed that such conveyance was made by C. E. Hellier, the purchaser at foreclosure sale of the property of the Charleston, Cincinnati and Chicago Railroad Company, and that this property was operated for account of and by the former from July 17, 1893, the date it is believed the property was conveyed to it, to November 23, 1894, when the property passed to the Ohio River & Charleston Railway Company.
 * OHIO RIVER & CHARLESTON RAILWAY COMPANY OF TENNESSEE—PREDECESSOR OF OHIO RIVER & CHARLESTON RAILWAY COMPANY

No accounting records for this company are available. Proceedings were instituted December 10, 1890, to foreclose the mortgages of the Charleston, Cincinnati and Chicago Railroad Company, and the property was placed in the hands of receivers as follows: The line in South Carolina and North Carolina December 10, 1890; the line in Tenneesee[sic], December 26, 1890, and the line in Kentucky, February 20, 1891. Final disposition of the property is described in the chapter on corporate history for Southern Railway – Carolina Division.
 * CHARLESTON, CINCINNATI AND CHICAGO RAILROAD COMPANY—PREDECESSOR OF THE OHIO RIVER & CHARLESTON RAILWAY COMPANY OF NORTH CAROLINA; THE OHIO RIVER & CHARLESTON RAILWAY COMPANY OF SOUTH CAROLINA; OHIO RIVER AND CHARLESTON RAILROAD COMPANY OF VIRGINIA; OHIO RIVER & CHARLESTON RAILWAY COMPANY OF TENNESSEE, FORMERLY NAMED GEORGETOWN AND NORTH CAROLINA NARROW GAUGE RAILROAD COMPANY

Of the 222.74 miles of road owned by the Charleston, Cincinnati and Chicago Railroad Company on date of its demise, it acquired 147.50 miles of partially constructed line, the construction of which it completed, from The Rutherford Railway Construction Company, 8.50 miles of completed line from the Ohio, Kentucky and Virginia Railroad Company, and, in addition to the completion of the 147.50 miles above referred to, itself constructed 66.74 miles. Details with respect to the construction of this property are given in the chapter on development of fixed physical property for Southern Railway – Carolina Division.

A return made by the Southern states that it is presumed that the property was operated by the Charleston, Cincinnati and Chicago Railroad Company and its receivers from the date of its acquisition or the completion of the several lines, as shown above, until July 17, 1893, when it was sold at foreclosure.

The annual report of the Charleston, Cincinnati and Chicago Railroad Company to this commission for the year ended with June 30, 1891, gives $15,284,650.41 as the balance in its investment in road and equipment account.

No accounting records of Georgia and Carolina Midland Railroad Company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations or investments. The Georgia and Carolina Midland Railroad Company constructed no property.
 * GEORGIA AND CAROLINA MIDLAND RAILROAD COMPANY—PREDECESSOR OF CHARLESTON, CINCINNATI AND CHICAGO RAILROAD COMPANY

No accounting records of Augusta, Edgefield and Newberry Railroad Company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. The Augusta, Edgefield and Newberry Railroad Company constructed no property.
 * AUGUSTA, EDGEFIELD AND NEWBERRY RAILROAD COMPANY—PREDECESSOR OF GEORGIA AND CAROLINA MIDLAND RAILROAD COMPANY, FORMERLY NAMED AUGUSTA AND EDGEFIELD RAILROAD COMPANY

No accounting records of The Atlantic and Northwestern Railroad Company were obtained. Therefore, no information can be given from its accounts regardings[sic] its financial dealings, corporate operations, or investments. The Atlantic and Northwestern Railroad Company constructed no property.
 * THE ATLANTIC AND NORTHWESTERN RAILROAD COMPANY—PREDECESSOR OF GEORGIA AND CAROLINA MIDLAND RAILROAD COMPANY, FORMERLY NAMED UNION, GAFFNEY CITY AND RUTHERFORDTON RAILROAD COMPANY

No accounting records of the Rutherfordton, Marion and Tennessee Railway Company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. The Rutherfordton, Marion and Tennessee Railway Company constructed no property.
 * RUTHERFORDTON, MARION AND TENNESSEE RAILWAY COMPANY—PREDECESSOR OF CHARLESTON, CINCINNATI AND CHICAGO RAILROAD COMPANY

On September 30, 1886, the date of its demise, this company owned a partially completed railroad, the construction of which was begun during the year 1885. No accounting records of The Rutherford Railway Construction Company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations or investments.
 * THE RUTHERFORD RAILWAY CONSTRUCTION COMPANY—PREDECESSOR OF THE CHARLESTON, CINCINNATI AND CHICAGO RAILROAD COMPANY

The New Albany Belt and Terminal Railroad Company was a corporation of Indiana which owned at its demise about 2.12 miles of railroad in the city of New Albany, Ind. Its principal office was located at Louisville, Ky.
 * NEW ALBANY BELT AND TERMINAL RAILROAD COMPANY—PREDECESSOR OF THE SOUTHERN OF INDIANA