Wikipedia:WikiProject Trains/ICC valuations/Durham and Southern Railway

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The railroad of the Durham and Southern Railway Company, herein called the carrier, is a single-track, standard-gauge, steam railroad, located in central North Carolina. The main line extends southeasterly from East Durham to Dunn, 54.811 miles, and a branch line extends from Wye to Duke, 2.261 miles, aggregating 57.072 miles of first main track. The carrier also owns 8.064 miles of yard tracks and sidings. Its road thus embraces 65.136 miles of all tracks wholly owned and used. The carrier also jointly owns and uses with other carriers 1.012 undivided miles of yard tracks and sidings, its portion thereof, based on ownership, being 0.506 mile.

CORPORATE HISTORY

The carrier was incorporated January 13, 1904, by special act of the State of North Carolina, for the purpose of acquiring the property, rights, and franchises of The Cape Fear and Northern Railway Company, which had been incorporated February 14, 1898, under the general laws of North Carolina. Pursuant to this purpose, the carrier acquired at its organization the property, rights, and franchises of the railroad corporation named.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the carrier, 57.072 miles, was acquired as follows:

By construction, East Durham to Apex, N. C., 1905-1906 18.4

By purchase, constructed by the Cape Fear and Northern:

Apex to Angier, N. C., 1898-1899 20.

Angler to Duke, N. C., 1902-1903 14.74

Wye to Duke, N. C., 1903 3.26

38.

Total recorded mileage 56.4

Difference between total recorded mileage and mileage inventoried as of date of valuation .672

Mileage inventoried as of date of valuation 57.072

HISTORY OF CORPORATE FINANCING