Wikipedia:WikiProject Trains/ICC valuations/Chattanooga Terminal Railway

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The Chattanooga Terminal Railway Company, hereinafter called the Chattanooga Terminal Railway, owns 0.855 mile of single-track, standard-gage, steam railroad, comprising a terminal belt line at Chattanooga, Tenn.

CORPORATE HISTORY

The Chattanooga Terminal Railway was incorporated November 16, 1892, under the general laws of the State of Tennessee for the purpose of acquiring the property, rights and franchises formerly owned by the Chattanooga Railway, Bridge & Terminal Company. The date of organization was November 17, 1892. Pursuant to the above purpose, the Chattanooga Terminal Railway acquired at its organization the property, rights, and franchises of the corporation named, which had been sold at foreclosure sale on April 28, 1892.

The Chattanooga Railway, Bridge & Terminal Company, the only predecessor of the Chattanooga Terminal Railway, was incorporated September 17, 1890, under the general laws of the State of Tennessee. It was sold at foreclosure April 28, 1892, to Newman Erb, and was acquired by the Chattanooga Terminal Railway by deed, dated November 18, 1892.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The entire owned mileage of the Chattanooga Terminal Railway, 0.855 mile, was acquired by purchase after foreclosure proceedings, as previously explained. It had previously been acquired by the Chattanooga Railway, Bridge & Terminal Company by purchase from the Southern Iron Company. Details of the construction of this property were not obtainable from the records obtained. There is a difference of 0.495 mile between the mileage reported by the company, 1.35 miles, and that inventoried as of date of valuation, 0.855 mile.

HISTORY OF CORPORATE FINANCING