Wikipedia:WikiProject Trains/ICC valuations/Long Branch Coal Railroad

Interstate Commerce Commission, Valuation Reports, Volume 39

Long Branch Coal Railroad

Location and General Description of Property

The railroad of the Long Branch Coal Railroad Company, hereinafter called the Long Branch Coal Railroad, likewise leased to and operated by the Louisville and Nashville, is a single-track, standard-gage line, extending northwesterly from Village Springs to Lehigh No. 2, Ala., a distance of 8.329 miles.

Introductory

The Long Branch Coal Railroad is a corporation of the State of Alabama, having its principal office at Birmingham, Ala. It is controlled by the Louisville and Nashville, through ownership of the entire outstanding capital stock. The property of the Long Branch Coal Railroad has always been operated by the Louisville and Nashville. The Long Branch Coal Railroad does not maintain any accounting records, nor does it file annual reports with us. Therefore, nothing can be obtained from the accounts in connection with its finances, investments, or original cost. Certain information has been obtained from the accounting records of the Louisville and Nashville, as indicated hereinafter.

Corporate History

Incorporation of the Long Branch Coal Railroad was effected under the general laws of Alabama, for the purpose of constructing and operating a railroad in Alabama, extending from the properties of the Birmingham Mineral Railroad to the properties of the Lehigh Coal Company. Articles of incorporation were filed in the office of the secretary of state on November 12, 1901, and a certificate of incorporation was issued December 19, 1901. Its first board of directors was elected December 19, 1901.

Development of Fixed Physical Property

The 8.329 miles of railroad owned by the Long Branch Coal Railroad were all acquired by construction. The construction work was commenced in November, 1901, and was completed on October 1, 1902.

Leased Railway Property

The entire property of the Long Branch Coal Railroad is operated by the Louisville and Nashville, by virtue of that company's ownership of all of the outstanding capital stock of the Long Branch Coal Railroad. Nothing is recorded in the accounts of the Louisville and Nashville as representing rental paid for the use of the property of the Long Branch Coal Railroad for the year ending on date of valuation.