Wikipedia:WikiProject Trains/ICC valuations/Atlanta and West Point Railroad
Interstate Commerce Commission, Valuation Reports, Volume 29
Atlanta and West Point Rail Road
[edit]Location and General Description of Property
[edit]The railroad of the Atlanta and West Point Rail Road Company, herein called the carrier, is a standard-gage, steam railroad, located in northwestern Georgia. The main line extends southwesterly from Atlanta to West Point, near the Georgia-Alabama State line, a distance of 85.596 miles, and from Oakland Junction to Lakewood, a distance of 5.177 miles. The entire road thus aggregates 90.773 miles, all of which is single track except 1.963 miles of double-track line at East Point, Ga. The company also wholly owns and uses 30.866 miles of yard tracks and sidings. Its road thus embraces 123.602 miles of all tracks wholly owned and used. This entire mileage is located in Georgia, except 0.213 mile of sidetracks at Lanett, Ala., near the Georgia-Alabama State line. In addition, the carrier jointly owns and uses with other carriers 4.983 undivided miles of yard tracks and sidings in Georgia, its portion thereof, based on ownership, being 2.492 miles.
The carrier has a reciprocal double-track arrangement with The Central of Georgia Railway Company between Atlanta and East Point, Ga., a distance of 5.69 miles, where the tracks of the two companies are parallel.
Introductory
[edit]The carrier is a corporation of the State of Georgia, having its principal office at Atlanta, Ga. It is controlled jointly by the Louisville and Nashville Railroad Company and the Atlantic Coast Line Railroad Company through the ownership of 3,118 shares of its capital stock and the voting power of 9,361 shares of stock owned by the Georgia Rail Road & Banking Company. On the other hand, the carrier controls jointly with the Southern Railway Company and Central of Georgia Railway Company, through ownership of one-third of the capital stock, the Atlanta Terminal Company, which operates its own property.
The property of the carrier was operated by its own organization from March 3, 1851, when the first section of the road was placed in operation, 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 operates it on date of valuation.
Corporate History
[edit]The carrier was incorporated December 27, 1847, under special act of the State of Georgia, as the Atlanta and La Grange Railroad Company for the purpose of constructing and operating a railroad from Atlanta, or some point on the railroad of the Macon and Western Railroad Company, to Lagrange, Ga. On December 22, 1857, under special act of the State of Georgia, the name was changed to Atlanta and West Point Rail Road Company and an extension of the road was authorized to Greenville or Columbus, Ga. Under special act of the State of Georgia, December 19, 1896, the life of the corporation was extended for 50 years, to December 19, 1946. The date of organization was May 24, 1849.
The carrier acquired by purchase on September 8, 1914, the property, rights, and franchises of the Atlanta Belt Line Company. The Atlanta Belt Line Company, the only predecessor of the carrier, was incorporated October 17, 1899, under the general laws of Georgia, and its property, rights, and franchises were sold and conveyed to the carrier by deed dated September 8, 1914.
Development of Fixed Physical Property
[edit]The owned mileage of the carrier, amounting to 90.773 miles, was acquired partly by construction and partly by direct purchase. The property constructed by the carrier, itself, and its predecessor, the Atlanta Belt Line Company, the years when the various portions of the line were constructed, and the manner in which the carrier acquired the property are indicated in the following table.
| Mileage | |
|---|---|
| Acquired by construction: | |
| East Point to Newnan, Ga., 1851. | 33.00 |
| Newnan to near Hogansville, Ga., 1852. | 19.00 |
| Near Hogansville to Lagrange, Ga., 1853. | 12.75 |
| Lagrange to West Point, Ga., 1854. | 15.18 |
| East Point to Atlanta, Ga., 1889-1890. | 5.69 |
| Total. | 85.62 |
| Acquired by direct purchase: | |
| From the Atlanta Belt Line Company, Sept. 8, 1914— | |
| Constructed by that company, Oakland City to Hulsey Junction (Lakewood), Ga., 1899-1900. | 5.24 |
| Total recorded mileage. | 90.86 |
| Difference between total recorded mileage and mileage inventoried as of date of valuation. | 0.087 |
| Mileage inventoried as of date of valuation. | 90.773 |
The construction of the 79.93 miles of road from East Point to West Point, Ga., was performed by company forces, and the construction of the 5.69 miles of road from East Point to Atlanta, Ga., was performed under contract by Brown and Lawrence, contractors. The records reviewed do not indicate that these contractors were affiliated with the railroad company.
Leased Railway Property
[edit]The property of the carrier devoted to common-carrier purposes was taken over for operation by the United States Railroad Administration on January 1, 1918, and is so operated on date of valuation. The arrangements of the carrier with other carriers in effect December 31, 1917, covering the use of joint facilities have been continued by the United States Railroad Administration during the period January 1, 1918, to date of valuation. The description of the property, the period and terms of use, and the rentals accrued and charged or credited to income for the year ending on date of valuation, are as follows:
| Rentals | |
|---|---|
| Solely owned, but jointly used, used with– | |
| The Western Railway of Alabama— | |
| Terminal facilities, with tracks appurtenant thereto, at West Point, Ga., for indefinite period from July 1, 1911; annual rental equal to 5 per cent on valuation thereof, plus one-half of maintenance and operation. | $15,053.78 |
| Central of Georgia Railway Company— | |
| Tracks, 5.68 miles, used as second main track, from Atlanta to East Point, Ga.; for indefinite period from July 1, 1909; for the use of these facilities the Central of Georgia Railway Company permits the carrier to use in like manner its tracks and facilities between the points named; maintenance and operation divided on train basis. | ...... |
| The Western Railway of Alabama— | |
| Yard and terminal tracks and other terminal facilities at West Point, Ga.; for indefinite period from July 1, 1911; annual rental one-half of 5 per cent interest on valuation of $111,942.70, plus insurance, taxes, and depreciation. | 8,702.07 |
| Solely owned, but leased to— | |
| Atlanta Terminal Company— | |
| 4,444 square feet of land at Atlanta, Ga.; term Dec. 1, 1905, to June 1, 1953; annual rental equal to 6 per cent on valuation thereof. | 533.04 |
| Jointly used, but not owned; owned by— | |
| Atlanta Terminal Company— | |
| Passenger station and terminal facilities and tracks appurtenant thereto at Atlanta, Ga.: term 50 years from June 1, 1903; annual rental a proportion, on basis of use, of interest at 4 per cent per annum on securities of the Atlanta Terminal Company outstanding, plus a proportion, on basis of use, of maintenance and operation, including rents for tracks and land held by the Atlanta Terminal Company for use of tenants. | 12,351.68 |
| Georgia Rail Road & Banking Company (Georgia Railroad, Lessee Organization, lessee)— | |
| "Atlanta Joint Terminals," Atlanta, Ga.; consisting of 2.29 miles of first and 2.08 miles of second main track, and 28.40 miles of other tracks and various terminal facilities; term Apr. 1, 1907, to Apr. 1, 1980; annual rental a proportion, on basis of cars handled, of interest at 5 per cent on valuation, and of maintenance and operation. | 45,531.61 |
| The Western Railway of Alabama— Repair shops at Montgomery, Ala.; for indefinite period from July 1, 1911; annual rental one-half of 5 per cent interest on valuation of $397,079.21 and insurance, taxes and depreciation, plus proportion, on basis of labor distribution, of maintenance and operation. | 13,523.61 |
| Central of Georgia Railway Company— | |
| Tracks, 5.69 miles, used as second main track, from Atlanta to East Point, Ga.; for indefinite period from July 1, 1909; for the use of these facilities the carrier permits the Central of Georgia to use in like manner its tracks and facilities between the points named; maintenance and operation divided on train basis. | ...... |
There are other facilities of minor importance not listed in this chapter, such as stations, interlockers, and yard tracks and sidings, in which the carrier grants or receives joint use.
Predecessor Company
[edit]Atlanta Belt Line Company
[edit]Introductory
Although the property of the Atlanta Belt Line Company was conveyed to its successor by deed dated September 8, 1914, the accounts of the company for the results of corporate operations were not continued after March 1, 1908. The accounting data in this report for the results of corporate operations, therefore, cover the period to March 1, 1908.
The Atlanta Belt Line Company was controlled by the carrier on September 8, 1914, the date its property was sold, through ownership of its entire outstanding capital stock. On the other hand, the records reviewed do not indicate that it then controlled any common-carrier corporation.
The property of the Atlanta Belt Line Company was operated by the carrier, under lease, from the date of completion thereof, November 30, 1900, to the date of sale. The railroad owned by the company and operated by the carrier amounted to 5.24 miles. It consisted of a single-track, standard-gage, steam railroad, extending from Okland[sic] City to Hulsey Junction (Lakewood), Ga.
Development of Fixed Physical Property
The entire 5.24 miles of railroad owned by the company on the date of sale was acquired by construction in 1899-1900. The construction work was performed by A. & C. Wright & Company, contractors, who do not appear to have been affiliated with the railroad company.