Wikipedia:WikiProject Trains/ICC valuations/Carthage and Pinehurst Railroad
Interstate Commerce Commission, Valuation Reports, Volume 84
Carthage and Pinehurst Railroad
[edit]Location and General Description of Property
[edit]The railroad of the Carthage and Pinehurst Railroad Company, hereinafter called the Carthage and Pinehurst, is a single track, standard gauge, steam-operated road of 12.227 miles in length between Pinehurst and Carthage, N. C. The principal office is that of the secretary, at Norfolk. The majority of the stock is held by the carrier, which operated the property on valuation date under the terms of a lease that had expired October 1, 1912. The Carthage and Pinehurst was incorporated July, 1907, and built by the Page interests, who had previously developed the road of the Aberdeen and Asheboro Railroad Company, which was later incorporated into the Norfolk Southern system.
The mileage comprised on valuation date 12.227 miles of main track and 0.313 mile of siding, making a total of all tracks of 12.540 miles.
Corporate History
[edit]The Carthage and Pinehurst was incorporated in July, 1907. Construction was begun at once and the property was leased, before completion, under an informal agreement, to the Aberdeen and Asheboro Railroad Company. In 1909, the lease was given a formal written status as of the date, October 1, 1907, for a period of 5 years from that date. The terms of this lease have already been described in the account of leased property in the report on the carrier. The lease eventually passed to the carrier which had, in the meantime, acquired 498 of the 699 shares of stock.