Wikipedia:WikiProject Trains/ICC valuations/Norwood and St. Lawrence Railroad

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The railroad of Norwood & St. Lawrence Railroad Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad located in the northwestern part of New York. The owned mileage extends northwesterly from Norwood to Waddington, N. Y., a distance of 18.344 miles. The carrier also owns yard and side tracks totaling 3.502 miles. Its road thus embraces 21.846 miles of all tracks owned.

Corporate history.—The carrier was incorporated March 30, 1901, under the railroad law of New York. Effective November 25, 1908, the Raymondville and Waddington Railroad Company [incorporated February 8, 1907] was merged with the carrier. The corporation is controlled by its stockholders, no one of whom owns a controlling interest. The detailed facts as to the development of the fixed physical property are given in Appendix 2.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The property was acquired by construction and merger. The section acquired by construction extended from Norwood to Raymondville, about 7 miles. It was constructed partly by the carrier and partly by the Remington-Martin Company, with funds furnished by the latter. Work was begun about May, 1901, and the road was completed and opened for operation about one year later. The section acquired from the Raymondville and Waddington Railroad Company was practically an extension from Raymondville to Waddington, about 11 miles. It was constructed by the carrier for the Raymondville and Waddington Railroad Company and the construction accounts were included in the accounting records of the carrier which furnished the construction funds. Work was begun about July 1, 1907, and completed approximately two years later, and subsequent to date of merger.

HISTORY OF CORPORATE FINANCING