Wikipedia:WikiProject Trains/ICC valuations/Greenville and Northern Railway

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The railroad of the Greenville and Northern Railway Company, hereinafter called the carrier, is a single-track, standard-gage, steam railroad, located in the western part of South Carolina. The main line extends northerly from Greenville to Marietta, a distance of 14.419 miles. The carrier also owns 2.557 miles of yard tracks and sidings. Its road thus embraces 16.976 miles of all tracks wholly owned and used. In addition, it jointly owns with the Piedmont and Northern Railway Company an undivided one-half interest in 0.145 mile of yard tracks and sidings at Greenville, S.C. The railroad formerly extended from Greenville to River Falls, S.C., but on date of valuation that portion of the road from Marietta to River Falls, about eight miles, had been abandoned.

CORPORATE HISTORY

The carrier was incorporated January 3, 1920, under the general laws of South Carolina to acquire and operate the railroad formerly owned by the Greenville & Western Railway Company. Pursuant to the above purpose, the carrier acquired by purchase from W. H. Cooke, by deed dated January 28, 1920, the property of the company named.

Greenville & Western Railway Company was incorporated June 18, 1914, under the general laws of South Carolina to acquire and operate the railroad formerly owned by the Greenville and Knoxville Railway Company, which had been sold at foreclosure sale on June 1, 1914. The latter company was incorporated May 31, 1904, in South Carolina.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The road, all owned, amounting to 14.419 miles extending from Greenville to Marietta, S. C., is part of the property formerly owned by the Greenville & Western Railway Company, which company had abandoned operations in 1917. Its property was sold at foreclosure sale May 6, 1919, and conveyed to the carrier by deed dated January 26, 1920. The entire property acquired was constructed by the Greenville and Knoxville Railway Company in 1908. As of date of valuation the carrier operated that portion of its road extending from Greenville to Marietta, 14.419 miles, for transportation purposes, the remaining 7.891 miles has been abandoned for carrier purposes and has been treated herein as noncarrier property.

HISTORY OF CORPORATE FINANCING