Wikipedia:WikiProject Trains/ICC valuations/Virginia and Carolina Southern Railroad

Interstate Commerce Commission, Valuation Reports, Volume 141

Location and General Description of Property
The railroad of the Virginia and Carolina Southern Railroad Company, herein called the carrier, is a single-track, standard-gauge, steam railroad, located in southern North Carolina. The main line extends northerly from Lumberton to Hope Mills, 25.227 miles, with a branch line extending southeasterly from the main line at St. Pauls to Elizabethtown, aggregating 52.964 miles of first main track. The carrier also owns 11.120 miles of yard tracks and sidings. Its road thus embraces 64.084 miles of all tracks owned and used.

Introductory
The carrier is a corporation of the State of North Carolina, having its principal office at Lumberton, N. C. It is controlled by the Atlantic Coast Line Railroad Company through ownership of 99 per cent of the capital stock. The carrier does not control any common-carrier corporation. It has operated its property with its own organization from the dates acquired to date of valuation.

Corporate History
The carrier was incorporated March 4, 1906, under the laws of North Carolina by special acts of 1903 and 1907.

Development of Fixed Physical Property
The owned mileage of the carrier, 52.964 miles, was acquired by it through construction. The road from Lumberton to St. Pauls was constructed under contract by the Atlantic Improvement Company and completed in December, 1907. The president of the latter company was one of the incorporators of the carrier, and also its first president. The section from St. Pauls to Hope Mills was also constructed under contract by the improvement company and was completed in June, 1909. The right of way and material for the construction of the branch line from St. Pauls to Elizabethtown were furnished by the carrier and the grading and other labor was performed under contract by Wade and Clower, contractors. This section was completed about May, 1911.

Leased Railway Property
The carrier on date of valuation has joint use of certain property of other carriers, and on the other hand grants to other carriers sole or joint use of certain of its property. A description of the property so used is given below, but the amount of rental accrued and charged or credit to income for the year ending on date of valuation was not ascertained.


 * Solely owned, but not used, leased to other than carriers; rail.
 * Solely owned, but Jointly used; used with —
 * Atlantic Coast Line Railroad Company; yard and side tracks at Hope Mills, N. C.
 * Seaboard Air Line Railway Company; yard and side tracks at Lumberton, N. C.
 * Jointly used, but not owned, owned by —
 * Atlantic Coast Line; yard and side tracks, freight and passenger stations, and cotton platform at Hope Mills, N. C
 * Seaboard Air Line; yard and side tracks and passenger station at Lumberton, N. C.