Wikipedia:WikiProject Trains/ICC valuations/North Charleston Terminal Company

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The railroad of the North Charleston Terminal Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located at North Charleston, S. C. The carrier owns 2.297 miles of main track, together with 5.805 miles of yard tracks and sidings. Its road thus embraces 8.102 miles of all tracks owned and used. The carrier is a terminal railroad, providing switching facilities between the various industries of the manufacturing district and the connecting railroads at North Charleston.


CORPORATE HISTORY

The carrier was incorporated February 14, 1916, under special act of the State of South Carolina for the purpose of constructing and operating terminal facilities at North Charleston, S. C. The date of organization of the carrier was April 25, 1916.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the carrier, amounting to 2.297 miles, and wholly located at North Charleston, S. C., was acquired partly by construction uud partly by purchase, as indicated hereunder:

Acquired by construction, 1916-1917 1.09
Acquired by purchase:
From the Southern Railway Company and the Southern Railway – Carolina Division, Nov. 13, 1917 1.94
From the Atlantic Coast Line Railroad Company, about December, 1918 1.45
3.39
Total 4.48
Difference between total recorded mileage and mileage inventoried as of date of valuation 2.183
Mileage inventoried as of date of valuation 2.297

The difference between the total recorded mileage and mileage inventoried as of date of valuation is due to certain recorded main-line mileage being inventoried as yard tracks and sidings. The records reviewed indicate that the construction work of the 1.09 miles of road constructed by the carrier was performed principally by the forces of the Southern Railway Company.

HISTORY OF CORPORATE FINANCING