Wikipedia:WikiProject Trains/ICC valuations/Atlantic and East Coast Terminal Company

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The carrier and the Coast Line operate for their joint benefit the property of the Atlantic and East Coast Terminal Company, consisting of a freight terminal and 2.845 miles of track at Jacksonville. The capital stock of this company is held in equal amounts by the carrier and the Coast Line. Each carrier has certain tracks and a part of the freight station assigned to it for its exclusive use.

The property of Atlantic and East Coast Terminal Company, hereinafter referred to as the Atlantic, consists of a freight station and about 2.485 miles of track, situated within the city of Jacksonville, Fla.

Corporate history.—The Atlantic was incorporated on August 11, 1905, under the general laws of the State of Florida, for the purpose of affording certain terminal facilities at Jacksonville, Fla., for the carrier and the Atlantic Coast Line Railroad Company, herein referred to as the Coast Line. Its principal office is at St. Augustine, Fla.

Control of the Atlantic is vested in the carrier and the Coast Line in equal proportions through their ownership of its entire capital stock. Each of the operating companies has assigned to it, for its exclusive use, a portion of the freight station and tracks, and bears an agreed-upon proportion of the expense of maintaining the property.

The Atlantic maintains no books of account and files no reports with this commission. The information herein given regarding its financial affairs and investment in property is taken from the records of the carrier.

ATLANTIC AND EAST COAST TERMINAL COMPANY

Development of fixed physical property.—The work of constructing the property of the Atlantic was commenced on October 28, 1906, and was completed on October 1, 1908. The contractors who constructed the property were in no way affiliated with the Atlantic. Operation of the property by the carrier and Coast Line was begun on October 1, 1908.

History of capital financing.—