Wikipedia:WikiProject Trains/ICC valuations/Washington and Vandemere Railroad

Interstate Commerce Commission, Valuation Reports, Volume 121

Location and General Description of Property
The railroad of the Washington & Vandemere Railroad Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in eastern North Carolina. The main line extends south easterly from Washington Junction to Vandemere, a distance of 39.609 miles. The carrier also owns 2.742 miles of yard tracks and sidings. Its road thus embraces 42.351 miles of all tracks owned and used. The carrier operates from Washington Junction into Washington, N. C, a distance of 0.94 mile, by means of trackage rights over the road of the Atlantic Coast Line Railroad Company.

Introductory
The carrier is a corporation of the State of North Carolina, having its principal office at Washington, N. C. It is controlled by the Atlantic Coast Line Railroad Company through ownership of a majority of its capital stock. The property of the carrier has been operated by its own organization from the date of completion of construction, June 1, 1908.

Corporate History
The carrier was incorporated March 3, 1903, under a special act of the State of North Carolina, for the stated purpose of constructing and operating a railroad from Washington or vicinity to Vandemere, N. C. The date of organization was December 5, 1903.

Development of Fixed Physical Property
The owned mileage of the carrier, extending from Washington Junction to Vandemere, N. C., a distance of 39.609 miles, was acquired by construction during the years 1907 and 1908.

Leased Railway Property
The carrier used property owned by the Atlantic Coast Line Railroad Company as follows: Jointly used, but not owned, track 0.94 mile, from Washington Junction to Washington, N. C., and terminal facilities at Washington, N. C., for an indefinite period from September 30, 1908; stipulated rental 12.5 per cent of annual expenses; rental accrued and charged to income for the year ending on date of valuation, $1,300.80.