Wikipedia:WikiProject Trains/ICC valuations/Virginia–Carolina Railway
Interstate Commerce Commission, Valuation Reports, Volume 110
Virginia–Carolina Railway
editLocation and General Description of Property
editThe railroad of the Virginia–Carolina Railway Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in the States of Virginia and North Carolina. The owned mileage extends in a southeasterly direction from Abingdon, Va., to Elkland, N.C., a distance of 76.626 miles, with a branch extending from Damascus, Va., to the Virginia-Tennessee State line, 1.844 miles. This mainline mileage includes a spur about 1.6 miles in length, extending from Creek Junction, Va., to Grassy Ridge, Va. The carrier wholly owns and uses 83.086 miles of all tracks, and owns but does not use 1.616 miles of all tracks which are classified in the trackage table in Appendix 1.
Introductory
editThe carrier is a corporation of the State of Virginia, having its principal office at Roanoke, Va. It is controlled by the Norfolk and Western Railway Company through ownership of all but seven shares of its outstanding capital stock. On the other hand, the carrier itself does not control any common-carrier corporations. The property of the carrier has been operated by its own organization during its entire life.
Corporate History
editThe carrier was incorporated on March 21, 1894, under the laws of Virginia, as the Virginia Western Coal and Iron Railroad Company. By act of Virginia approved March 1, 1898, the name was changed to the Virginia-Carolina Railway Company. The following chart shows the names of the corporations, the respective dates of incorporation and for each predecessor the date of succession, the immediately succeeding corporation and the manner of succession. Reference to each of these corporations is made in the last column by its respective number shown in the first column.
| No. | Name | Incorporation | Succession |
|---|---|---|---|
| 1. | Virginia–Carolina Railway Company. | General laws of Virginia, Mar. 21, 1894, as the Virginia Western Coal and Iron Railway Company. Name changed Mar. 1, 1898, to that borne on date of valuation. | |
| 2. | Virginia–Carolina and Southern Railway Company. | General laws of Virginia, Jan. 5, 1906. | Sold to 1, Oct. 16, 1912. |
| 3. | The Abingdon Coal and Iron Railroad Company. | General laws of Virginia, Apr. 11, 1887. | Sold to 1, Mar. 21, 1894. |
Development of Fixed Physical Property
editThe property of the carrier was acquired by purchase and by construction, as follows:
- Purchase:
- The Abingdon Coal and Iron Railroad Company, Abingdon to Damascus, Va. (including branch), Mar. 21, 1894, 16.06 miles.
- In course of construction when acquired. Completed by carrier between Jan. 1, 1900, and Feb. 7, 1901.
- Virginia–Carolina and Southern Railway Company, Taylors Valley to Grassy Ridge, Va., Oct. 16, 1912, 5.20 miles.
- The Abingdon Coal and Iron Railroad Company, Abingdon to Damascus, Va. (including branch), Mar. 21, 1894, 16.06 miles.
- Construction:
- Damascus to Virginia-Tennessee State line, 1901, 1.42 miles.
- Damascus to Laureldale, Va., October, 1904, 2.37 miles.
- Laureldale to Taylors Valley, Va., April, 1906, 4.79 miles.
- Creek Junction, Va., to Elkland, N.C., May 24, 1918, 48.65 miles.
- Less difference between recorded mileage and that inventoried by us, 0.111 miles.
Total mileage inventoried as of date of valuation, 78.369 miles.
Leased Railway Property
editThe carrier leases 1.386 miles of branch line to the Beaver Dam Railroad Company at an annual rental of $300, this being covered by an agreement dated December 18, 1909, terminating December 18, 1934. The carrier has trackage rights over the railroad of the White Top Railroad Company between Grassy Ridge and Kennarock, Va., a distance of 1.74 miles, together with joint use of that company's station facilities at the latter point. The only cost to the carrier is to maintain an agency at Kennarock, the facilities being maintained by the owning company.