Wikipedia:WikiProject Trains/ICC valuations/Ware Shoals Railroad

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CORPORATE HISTORY

The carrier was incorporated July 25, 1908, under the general laws of the State of South Carolina, for the purpose of acquiring and operating an existing line of railroad extending from Shoals Junction, S. C., to Ware Shoals, S. C., a distance of 5.154 miles. The date of organization of the carrier was July 25, 1908.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The carrier owns no road. The railroad operated by it was constructed prior to the incorporation of the carrier by the Southern Railway Company as an industrial track, under agreements with the Ware Shoals Manufacturing Company dated July 27, 1904, and March 30, 1907. Under these agreements, the Ware Shoals Manufacturing Company furnished the right of way, prepared the roadbed, and furnished part of the ties, and the Southern Railway Company furnished the remaining material and constructed the trestling and track. On August 4, 1908, the carrier purchased from the Ware Shoals Manufacturing Company all of the latter's rights and privileges in the property thus constructed.

HISTORY OF CORPORATE FINANCING