Wikipedia:WikiProject Trains/ICC valuations/White Oak Railway

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The White Oak Railway Company, hereinafter called the carrier, is a corporation of the State of West Virginia, controlled by the New River Company, through stock ownership. The carrier operates no common-carrier property. It owns a single-track standard-gauge steam railroad extending in three disconnected sections, from Bishop to Duncans Crossings, Lochgelly to Carlisle, and Price Hill Junction to Price Hill, all in West Virginia, a total of 10.665 miles. It also owns 7.168 miles of yard tracks and sidings. Its entire mileage is leased to and jointly used by The Virginian Railway Company and The Chesapeake and Ohio Railway Company, each company having an undivided half interest.

Corporate history.—The carrier was incorporated under the general laws of West Virginia on May 23, 1905, for the purpose of acquiring and operating the railroad properties of the Stuart Colliery Company and the Price Hill Fuel Company, and for the purpose of constructing and operating additional projected lines of railroad. Its organization was perfected June 9, 1905. The principal office of the carrier is located at MacDonald, W. Va.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The property of the carrier was acquired as follows:

By purchase:

From Stuart Colliery Company, Carlisle to Lochgelly 6.370

From Price Hill Fuel Company, MacDonald to Price Hill 2.330

By construction, Oak Hill to Bishop 1.965

Total 10.665

The road purchased from the Stuart Colliery Company was constructed by that company between March, 1903, and August, 1905, and when completed was put in service in connection with coal operations. The road purchased from the Price Hill Fuel Company was constructed by that company during the years 1905 and 1906, and was put in service about February, 1906, in connection with that company's coal operations. In addition to the road purchased as mentioned above, rights of way for road and water-front terminals for a projected extension of road from Bishop to Mount Carbon, W. Va., were purchased and about 6 miles of the line was graded during the years 1906 and 1907. Before completion, the work was temporarily discontinued. In 1907 and 1908 a part of the line between Oak Hill and Bishop was constructed and is now in use.

HISTORY OF CORPORATE FINANCING