Wikipedia:WikiProject Trains/ICC valuations/Western Railway of Alabama

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The bureau, on the other hand, considers that these two properties constitute a system and should be so treated in determination of cost of transportation for reproduction purposes. The stipulation referred to recites that the Atlanta and West Point was controlled through stock ownership by the Louisville and Nashville Railroad Company, and the Atlantic Coast Line Railroad Company and that the carrier was controlled through stock ownership jointly by the Louisville and Nashville and Atlantic Coast Line of 50 per cent of the stock, the Central of Georgia Railway Company owning or controlling the balance. It appears from our tentative valuations that the Central of Georgia owns 50 per cent of the stock of the carrier and that the Louisville and Nashville and the Atlantic Coast Line jointly exercise voting power of the balance of the stock which is owned by the Georgia Railroad and Banking Company; also that the Louisville and Nashville and the Atlantic Coast Line own 3,118 shares of the capital stock of the Atlanta and West Point and exercise voting power of 9,361 shares owned by the Georgia Railroad and Banking Company, the combined ownership by these companies comprising a majority of the shares outstanding on valuation date. The above indicates that the corporate control of the properties lies in substantially the same interests.

The carrier and the Atlanta and West Point have the same operating organizations. The two roads together constitute a continuous line of railroad extending from Atlanta to Selma, Ala., over which through trains under the same management are operated.

The accounting data in this report, therefore, cover the period from April 1, 1883.

The carrier is controlled jointly by the Central of Georgia Railway Company, the Louisville and Nashville Railroad Company, and the Atlantic Coast Line Railroad Company, the Central of Georgia Railway Company owning 50 per cent of the capital stock of the company and the other two companies exercising voting power of the remainder of the stock, which is owned by the Georgia Rail Road & Banking Company. On the other hand, the records reviewed do not indicate that the carrier controls any common-carrier corporation.

The property of the carrier was operated by its own organization from April 1, 1883, to December 31, 1917. On January 1, 1918, the common-carrier property of the carrier was taken over for operation by the United States Railroad Administration, which still operated it on date of valuation.

The carrier was incorporated March 15, 1883, under the general laws of the State of Alabama, for the purpose of acquiring the property, rights, and franchises of the Purchasers of the Western Railroad of Alabama, an unincorporated organization. [...]
 * CORPORATE HISTORY

The owned mileage of the carrier, amounting to 129.681 miles, was acquired
 * DEVELOPMENT OF FIXED PHYSICAL PROPERTY