Wikipedia:WikiProject Trains/ICC valuations/Norfolk Terminal and Transportation Company
Interstate Commerce Commission, Valuation Reports, Volume 24
Norfolk Terminal and Transportation Company
[edit]Location and General Description of Property
[edit]The property of the Norfolk Terminal and Transportation Company, herein called the Norfolk Terminal, which is leased to and operated by the carrier [Chesapeake and Ohio Railway], consists of 2.537 miles of yard tracks located at Norfolk, Va., and constitutes a terminal yard for the latter company at that place. This property has no physical connection with the remainder of the system, but is reached from the carrier's rail terminus at Newport News by means of car floats upon Hampton Roads.
Introductory
[edit]The Norfolk Terminal is a corporation of the State of Virginia, having its principal office at Norfolk, Va. It is controlled by the carrier through ownership of the entire outstanding capital stock. The property of the Norfolk Terminal is operated by the carrier under agreement dated June 1, 1898. There are no accounting records of the Norfolk Terminal obtainable. The information herein given has been taken from the corporate-history return and the accounting and other records of the carrier.
Corporate History
[edit]The Norfolk Terminal was incorporated May 5, 1893, under the general laws of the State of Virginia as the Norfolk Wharf, Warehouse and Terminal Company. Its name was changed to that above given by a special act of Virginia dated January 27, 1896. The date of its organization was May 8, 1893.
Development of Fixed Physical Property
[edit]The Norfolk Terminal owns no road mileage. Its property consists of terminal facilities and 2.537 miles of yard tracks and sidings located at Norfolk, Va. The records reviewed do not indicate when or by whom the property was constructed.
Leased Railway Property
[edit]The entire property of the Norfolk Terminal is leased to the carrier in perpetuity from June 1, 1898, at an annual rental of $30,000.