Wikipedia:WikiProject Trains/ICC valuations/Lockhart Railroad

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The railroad of Lockhart Railroad is a single-track road wholly within the State of South Carolina and extends from a connection with Southern Railway—Carolina Division at Lockhart Junction to Lockhart. This company owns the right of way and grading and the Southern owns the track for about 14 miles of first main and 15 miles of all tracks.

CORPORATE HISTORY

The Lockhart Railroad was incorporated October 23, 1899, under the general laws of South Carolina, for the purpose of constructing and operating a railroad from Lockhart Mills at Lockhart, S. C., to a connection with the tracks of the Southern.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The entire 14 miles of road owned by the Lockhart Railroad on date of valuation, was acquired through construction. The line was opened for operation on May 28, 1900. Construction of the roadbed was performed by R. C. Strother under contract with the Lockhart Railroad. The available records do not indicate that the above-mentioned contractor was affiliated with the Lockhart Railroad.

As stated hereinbefore the Southern owns the rails, ties, and fixtures that were laid on this road. The work of laying the rail and ties was performed by the Southern's own forces.

HISTORY OF CORPORATE FINANCING