Wikipedia:WikiProject Trains/ICC valuations/Chesapeake and Ohio Railway

Interstate Commerce Commission, Valuation Reports, Volume 24

The Chesapeake and Ohio Railway

Location and General Description of Properties

The railroad of The Chesapeake and Ohio Railway Company, herein called the carrier, is a standard-gauge steam railroad located in the States of Kentucky, Virginia, West Virginia, and Ohio. It is a single-track railroad, with the exception of about 482 miles, which is double-track. The principal stretches of double-track road are between Newport News and Richmond, Va., a distance of about 75 miles, and Clifton Forge, Va., and Cincinnati, Ohio, a distance of about 387 miles. The carrier's principal main line extends from Fort Monroe, Va., to Cincinnati, Ohio, about 665 miles. Between Richmond and Clifton Forge, Va., there are two widely separated single-track lines, both used as parts of the principal main line. One of these lines follows the course of the James River and is used principally for freight service, while the other, situated generally from 20 to 50 miles north, is the principal passenger line. Other main lines extend as follows:

Gordonsville to Orange, Va., about 9 miles. From Orange, Va., to Washington, D. C, about 84 miles, trains are operated under trackage rights acquired from other carriers.

Big Sandy Junction to Elkhorn City, Ky., about 129 miles.

Seaton to Lexington, Ky., about 102 miles. The remainder of the line between Ashland and Louisville, Ky., aggregating about 106 miles, is owned by other carriers and is used by the carrier under trackage rights.

From the main lines there extend numerous branches, leading generally to industries of various kinds, chiefly coal-mining operations. Norfolk, Va., is reached by means of car floats operated between leased property at that point and the carrier's owned property at Newport News, Va. Other important cities served by the carrier are Covington and Newport, Ky.; Lynchburg, Va.; and Charleston and Huntington, W. Va. Frankfort, Ky., is reached by means of trackage rights over the lines of other carriers, and Portsmouth, Ohio, by means of a ferry operated across the Ohio River.

Data with respect to the ownership and use of the principal freight and passenger terminals used by the carrier will be found in Appendix 1.

The carrier wholly owns 1,834.418 miles of road, of which it uses 1,823.936 miles. It leases to others 10.482 miles of road, as follows:

To the Nelson & Albemarle Railway Company: 4.984 miles of road between Esmont and Alberene, Va.

To Cole and Crane, a noncarrier firm: 5.498 miles of road between Craneco and Loredo, W. Va.

In addition to the 10.482 miles of road above described, all of which is standard-gauge, the carrier owns but does not use 1.973 miles of narrow-gauge spur tracks extending from Indian Rock, Va., to certain stone quarries. These tracks are leased to E. Dillon and Company, a noncarrier company.

The carrier wholly uses 63.122 miles of road owned by others, of which 0.270 mile is owned by the Ashland Coal and Iron Railway Company at Ashland, Ky.; 7.689 miles by the John Nuttall Estate, between Keeneys Creek and Lookout, W. Va.; 9.034 miles by the Southern Railway Company, between Gordonsville and Orange, Va.; and 3.773 miles by the Sulphur Mining and Railroad Company. The remaining mileage, owned by lessors of the carrier, is described in the paragraphs below. In addition to the above, other mileage shown in Appendix 1 is jointly owned by the carrier with other carriers.

Introductory

The carrier is a corporation of the States of Virginia and West Virginia, having its principal office at Richmond, Va. The records reviewed do not indicate that the carrier is controlled by any individual or corporation. On the other hand, the carrier solely controls, through ownership of the entire outstanding capital stock, the transportation companies listed hereunder, whose several common-carrier properties it operates:

• Norfolk Terminal.
• Covington and Cincinnati.
• Gauley and Meadow River.
• Elkhorn & Beaver Valley.
• Logan and Southern.

It controls, through the ownership of the entire outstanding capital stock of the Covington and Cincinnati, the Cincinnati Inter-Terminal, whose common-carrier property it operates.

It controls, through ownership of the outstanding capital stock to the extent indicated, the following companies which operate their properties separately from the other property included in the carrier system:

	Stock ownership (per cent)
The Chesapeake & Ohio Grain Elevator Company.	100
The Chesapeake and Ohio Railway Company of Indiana.	100
The Hocking Valley Railway Company.	80

It controls, through ownership of the entire outstanding capital stock, the Hammond Belt Railway Company, whose common-carrier property is operated by The Chesapeake and Ohio Railway Company of Indiana.

It controls, through ownership of the entire outstanding capital stock, the following companies, whose common-carrier properties are not completed, as of date of valuation:

• The Chesapeake and Ohio Northern Railway Company.
• The Levisa River Railroad Company.
• Levisa River Railroad Company (Kentucky).
• Lynchburg, Danville and Carolina Railway Company.
• Pond Fork Railway Company.

It controls, through ownership of the entire outstanding capital stock of the Lynchburg, Danville and Carolina Railway Company, the Greensboro Northern and Atlanta Railway Company, whose common-carrier property is incomplete, as of date of valuation.

It controls, through ownership of the entire outstanding capital stock, the Kanawha Bridge and Terminal Company, whose common-carrier property is used jointly with the Charleston Interurban Company and the general public.

It controls jointly with other companies, through ownership of the outstanding capital stock to the extent indicated below, the following companies, which operate their own properties:

	Stock ownership (per cent)
The Belt Railway Company of Chicago.	8⅓
Jointly controlled with—
The Atchison, Topeka and Santa Fe Railway Company.
Chicago and Eastern Illinois Railroad Company.
Chicago and Erie Railroad Company.
Chicago, Burlington & Quincy Railroad Company.
Chicago, Indianapolis and Louisville Railway Company.
The Chicago, Rock Island and Pacific Railway Company.
Grand Trunk Western Railway Company.
Illinois Central Railroad Company.
Minneapolis, St. Paul & Sault Ste. Marie Railway Company.
Pennsylvania Company.
Wabash Railway Company.
Lexington Union Station Company.	33⅓
Jointly controlled with the Louisville and Nashville Railroad Company.
Louisville & Jeffersonville Bridge Company:	33⅓
Jointly controlled with The Cleveland, Cincinnati, Chicago and St. Louis Railway Company.
Norfolk and Portsmouth Belt Line Railroad Company.	14
Jointly controlled with—
Atlantic Coast Line Railroad Company.
New York, Philadelphia and Norfolk Railroad Company.
Norfolk and Western Railway Company.
Norfolk Southern Railroad Company.
Seaboard Line Air Railway Company.
Southern Railway Company.

In addition to the foregoing, the carrier controls jointly with the—

• Atlantic Coast Line Railroad Company,
• The Baltimore and Ohio Rail Road Company,
• The Pennsylvania Railroad Company,
• Seaboard Air Line Railway Company, and the
• Southern Railway Company,

through ownership of one-sixth of the capital stock, the Richmond–Washington Company, which does not own or operate any common-carrier property, but which, through ownership of the entire capital stock, controls the Washington Southern Railway Company and, through ownership of a majority of the outstanding capital stock, the Richmond, Fredericksburg and Potomac Railroad Company.

The property of the carrier has been operated by its own organization during its entire life.

Corporate History

The carrier was incorporated on July 1, 1878, under the general laws of the States of Virginia and West Virginia. It is a reorganization of the Chesapeake and Ohio Railroad Company, whose property had been sold under foreclosure to C. P. Huntington, A. S. Hatch, A. A. Low, Isaac Davenport, jr., and John Castree, representing a committee of purchase and reorganization for a majority of the security holders.

Operation of the property thus acquired was assumed by the Chesapeake and Ohio on July 1, 1878. Thereafter the carrier has acquired the franchises, rights, and property of 16 companies, as indicated in the corporate chart below. The carrier itself, the Chesapeake and Ohio Railroad Company, and the 16 companies referred to, together with their predecessors, total 47 different corporations, of which 8 underwent a change of name, and comprise the line of corporate succession culminating in the carrier as at present constituted. The following chart shows the names of the corporations, the respective dates of incorporation, and for each predecessor the date of succession, the immediately succeeding corporation, and the manner of succession. Reference to each of these corporations is made in the last column by its respective number shown in the first column

No.	Name	Incorporation	Succession
1	The Chesapeake and Ohio Railway Company.	Under general laws of Virginia and West Virginia, July 1, 1878.
2	Chesapeake and Ohio Railroad Company.	See 4.	Sold at foreclosure July 1, 1878, after receivership begun Oct. 9, 1875, and acquired by 1.
3	Virginia Central Railroad Company.	See 4.	Name changed to 2, Aug. 31, 1868, under special act of Virginia, Mar. 1, 1867, and of West Virginia, Feb. 26, 1867.
4	The Louisa Railroad Company.	Under special act of Virginia, Feb. 18, 1836.	Name changed to 3, Feb. 2, 1850.
5	The Covington and Ohio Railroad Company.	Under special act of Virginia, Feb. 15, 1853.	Rights vested in 3, Aug. 31, 1868, by special acts of Virginia and West Virginia dated Mar. 1, 1867, and Feb. 26, 1867, respectively.
6	The Blue Ridge Railroad Company.	Under special act of Virginia, Mar. 5, 1849.	Sold to 2, Apr. 1, 1870.
7	Richmond and Alleghany Railway Company.	Under general laws of Virginia, May 20, 1889.	Transferred to 1, Jan. 20, 1890.
8	Richmond and Alleghany Railroad Company.	See 10.	Placed in receivership July 1, 1883; deeded to a purchasing committee May 20, 1889, and incorporated as 7.
9	Straight-shoot Railroad Company.	See 10.	Name changed to 8, Feb. 28, 1878.
10	Richmond and Lynchburg Railroad Company.	Under special act of Virginia, Mar. 30, 1860.	Name changed to 9, Mar. 27, 1873.
11	James River and Kanawha Company.	Under special act of Virginia, Mar. 16, 1832.	Merged with 8, Mar. 4, 1880.
12	The James River Company.	Under special acts of Virginia, Oct., 1784, and Feb. 17, 1820.	Acquired by 11, Mar. 16, 1832.
13	Richmond Dock Company.	Under special act of Virginia, Feb. 19, 1816.	Acquired by 11, July 9, 1841.
14	Buchanan and Clifton Forge Railway Company.	Under special acts of Virginia, Mar. 27, 1876, and Jan. 14, 1878.	Merged with 8, July 2, 1880.
15	The North River Navigation Company.	Under special act of Virginia, Mar. 19, 1841.	Merged with 8, Mar. 9, 1883.
16	Craig Company.	Under special act of Virginia, Mar. 4, 1884.	Acquired by 1, June 2, 1890.
17	New River Bridge Company.	Under general laws of West Virginia, Jan. 25, 1887.	Acquired by 1, Oct. 24, 1890.
18	Passenger and Belt Railway Company.	See 20.	Acquired by 1, Jan. 1, 1895.
19	Central City Passenger and Transportation Company.	See 20.	Name changed to 18 Mar 1, 1888.
20	City Passenger Railway Company.	Under special act of Kentucky, May 18, 1886.	Name changed to 19, Feb. 17, 1888.
21	Buckingham Railroad Company.	Under special act of Virginia, Mar. 28, 1879.	Acquired by 1, Nov, 5, 1897.
22	The Greenbrier and New River Railroad Company.	Under general laws of West Virginia, Aug. 6, 1881.	Acquired by 1, Nov. 21, 1901.
23	Glen Jean[sic ,] Lower Loup and Deepwater Railroad Company.	Under general laws of West Virginia, May 10, 1895.	Acquired by 1, Nov. 21, 1901.
24	Kanawha Railway Company.	Under general laws of West Virginia, June 9, 1881.	Acquired by 1, Jan. 31, 1902.
25	Alberene Railroad Company.	Under special act of Virginia, Dec. 20, 1895.	Acquired by 1, Feb. 15, 1902.
26	Greenbrier Railway Company.	Under general laws of West Virginia, Nov. 16, 1897.	Acquired by 1, Oct. 31, 1903.
27	Guyandot Valley Railway Company.	Under general laws of West Virginia, Mar. 1, 1899.	Acquired by 1, Oct. 31, 1903.
28	Kanawha and Pocahontas Railroad Company.	Under general laws of West Virginia, Dec. 30, 1898.	Acquired by 1, Feb. 1, 1905.
29	Kanawha and Paint Creek Railway Company.	Under general laws of West Virginia, Nov. 13, 1895.	Acquired by 28, May 6, 1902.
30	Kanawha and Paint Creek Railroad Company.	Under general laws of West Virginia, Apr. 28, 1884.	Acquired by 29, Nov. 20, 1895.
31	The Chesapeake and Ohio Railway Company of Kentucky.	Under general laws of Kentucky, June 1, 1906.	Acquired by 1, July 1, 1907.
32	Chesapeake and Ohio Railway Company of Kentucky.	Under general laws of Kentucky, July 7, 1904.	Consolidated June 1, 1906, with 46 and 47, to form 31.
33	Lexington and Big Sandy Railway Company.	Under general laws of Kentucky, July 11, 1902.	Consolidated July 7, 1904, with 44 and 45, to form 32.
34	Elizabethtown, Lexington and Big Sandy Railroad Company.	Under special acts of Kentucky, Jan. 29, 1869; Feb. 16, 1870; Feb. 3, 1871; Feb. 18, 1872.	Consolidated July 11, 1902, with 37, 40, and 42, to form 33.
35	The Lexington and Big Sandy Railroad Company—Western Division.	Under special act of Kentucky, Jan. 26, 1865.	Acquired by 34, Feb. 6, 1871.
36	Lexington and Big Sandy Railroad Company.	Under special act of Kentucky, Jan. 9, 1852.	Acquired by W. T. Nicholls Sept. 30, 1864, and transferred by him to 35.
37	Kentucky and South Atlantic Railroad Company.	Under general laws of Kentucky, June 13, 1888.	Consolidated July 11, 1902, with 34, 40, and 42, to form 33.
38	Kentucky and South Atlantic Railway Company.	See 39.	Sold to C. P. Huntington, Sept. 5, 1887, and conveyed by him to 37, July 16, 1888.
39	The Mt. Sterling Coal Road Company.	Under special act of Kentucky, Feb. 20, 1874.	Name changed to 38, Jan. 14, 1882.
40	Ohio and Big Sandy Railroad Company.	Under general laws of Kentucky, Aug. 20, 1889.	Consolidated July 11, 1902, with 34, 37, and 42, to form 33.
41	Chattaroi Railway Company.	Under special acts of Kentucky, Mar. 11, 1873, and Mar. 23, 1878.	Sold to purchasing committee, Apr. 30, 1888, and by it transferred to 40, Aug. 24, 1889.
42	Ohio River and Charleston Railway Company of Kentucky.	Under general laws of Kentucky, June 25, 1894.	Consolidated July 11, 1902, with 34, 37, and 40, to form 33.
43	Ohio, Kentucky and Virginia Railway Company.	Under special act of Kentucky, Apr. 18, 1886.	Acquired by Charles E. Hellier, July 17, 1893, and conveyed by him to 42, Nov. 13, 1894.
44	Maysville and Big Sandy Railroad Company.	Under special act of Kentucky, Dec. 18, 1850.	Consolidated July 7, 1904, with 33 and 45, to form 32.
45	The Covington Short Route Transfer Railway Company.	Under special act of Kentucky, May 15, 1888.	Consolidated July 7, 1904, with 33 and 44, to form 32.
46	The Kinniconnick and Freestone Railway Company.	Under special act of Kentucky, Mar. 20, 1890.	Consolidated June 1, 1908, with 32 and 47, to form 31.
47	Big Sandy Railway Company.	Under general laws of Kentucky, June 12, 1902.	Consolidated June 1, 1906, with 32 and 46, to form 31.
48	Big Sandy Railway Company of Virginia.	Under special act of Virginia, Mar. 15, 1902.	Consolidated June 12, 1902, with 49, to form 47.
49	Big Sandy Railway Company.	Under general laws of Kentucky, Apr. 7, 1902.	Consolidated June 12, 1902, with 48, to form 47.
50	Coal River Railway Company.	Under general laws of West Virginia, Jan. 4, 1905.	Acquired by 1, Dec. 21, 1909.
51	Coal River and Western Railway Company.	See 52.	Acquired by 50, May 31, 1905.
52	Pocahontas, Coal River and Kanawha Railway Company.	Under general laws of West Virginia, Oct. 9, 1899.	Name changed to 51, Nov. 10, 1903.
53	Raleigh and Southwestern Railway Company.	Under general laws of West Virginia, Oct. 2, 1903.	Acquired by 1, Feb. 28, 1910.
54	Glade Creek and Raleigh Railroad Company.	Under general laws of West Virginia, July 21, 1891.	Sold to 53, Oct. 25, 1906.
55	Virginia Air Line Railway Company.	Under general laws of Virginia, Apr. 10, 1906.	Acquired by 1, July 12, 1912.

Development of Fixed Physical Property

The road owned by the carrier, amounting to 1,835.506 miles, including 1.088 miles of jointly owned road, has been acquired as follows:

	[Mileage]
By construction.	391.190
By merger, purchase, or donation.	1,475.930
Total.	1,867.120
Less reclassifications, straightening and changes in line, and abandonments.	34.810
Total recorded mileage.	1,832.310
Add difference between total recorded mileage and mileage inventoried as of date of valuation.	3.196
Mileage inventoried as of date of valuation.	1,835.506

Of the 47 corporations which comprise the line of succession culminating in the carrier as at present constituted, 14 corporations did not construct or complete the construction of any property. These corporations were:

• The Covington and Ohio Railroad Company.
• Richmond and Alleghany Railway Company.
• Craig Company.
• Kanawha and Paint Creek Railway Company.
• Kanawha and Paint Creek Railroad Company.
• The Chesapeake and Ohio Railway Company of Kentucky (of 1906).
• Chesapeake and Ohio Railway Company of Kentucky (of 1904).
• Lexington and Big Sandy Railway Company.
• The Lexington and Big Sandy Railroad Company — Western Division.
• Lexington and Big Sandy Railroad Company.
• Kentucky and South Atlantic Railroad Company.
• Ohio River and Charleston Railway Company of Kentucky.
• Big Sandy Railway Company of Virginia.
• Big Sandy Railway Company (of April, 1902).

Four companies constructed canals and terminal facilities appertaining thereto, but none of them constructed or completed the construction of any railroad property. These companies were:

• The James River and Kanawha Company.
• James River Company.
• Richmond Dock Company.
• The North River Navigation Company.

One corporation, the Buchanan and Clifton Forge Railway Company, did some construction work. The road partly constructed by that company was completed by its successor, Richmond and Alleghany Railroad Company.

The data with respect to the miles of road constructed by the 28 remaining corporations, the years in which the various portions of the line were constructed, and the manner in which the carrier has acquired the property, are indicated in the following table, wherein, to facilitate comparison with the table showing corporate succession, previously given, the same order of corporations is maintained.

	[sub-subtotal]	[subtotal]	Mileage
Acquired by construction:
Main-line extensions—
Huntington, W. Va., to west bank of Big Sandy River, 1880.		8.50
Richmond to Newport News, Va., 1882.		74.10
Old Point Junction to Phoebus, Va., 1882.		10.30
Phoebus to Old Point, Va., 1890.		1.00
Hospital Street to Orleans Street, Richmond, Va., 1901.		2.50
Branches—
Hawks Nest to Ansted, W. Va., 1890.		3.40
Covington to Hot Springs, Va., 1891.		24.70
Eagle Mountain to New Castle, Va., 1891.		26.41
Gauley to Greendale, W. Va., 1893-94.		14.20
South Side Junction to MacDonald, W. Va., 1894.		9.90
Butchers to MacDougal, W. Va., 1901.		5.70
R. Cabin to Richmond, Va., 1901.		2.54
Leewood to United, W. Va., 1903.		6.80
Open Fork Junction to Bentree, W. Va., 1904.		3.50
South Carbon to Republic, W. Va., 1904.		2.40
Prince to Jenneys Gap, W. Va., 1901-1905.		28.90
Bartow to Winterburn, W. Va., 1905.		2.80
Elkridge to Mines, W. Va., 1905.		2.80
Big Creek to Dingess Run, W. Va., 1905-06.		16.90
Red Warrior to Colcord, W. Va., 1906.		17.70
Dingess Run to Ethel, W. Va., 1907.		3.78
Covington to Bess, Va., 1907-08.		20.10
Ethel to Georges Creek, W. Va., 1910.		2.42
Altman to Peters Cave, W. Va., 1911.		2.80
Clothier to Selbe, W. Va., 1911.		5.30
Keefertown to Kingston, W. Va., 1911.		2.00
Rum Creek to Slagle, W. Va., 1911.		6.60
Dingess Run to Man, W. Va., 1912.		11.50
Forest to Stonecoal, W. Va., 1912.		15.40
Jerrold's Valley to end of line, W. Va., 1912.		3.30
Man to Craneco, W. Va., 1912.		12.30
Peytons[sic Peytona] to Seth, W. Va., 1912.		6.90
Helen to Soveriegn[sic], W. Va., 1913.		8.59
Peters Cave to Silush, W. Va., 1915-16.		5.10
Penniman Junction to Penniman, Va., 1916.		4.68
Peters Cave to Sulphur Springs, W. Va., 1916.		2.00
Sundry short branches, 13 in number, each less than 2 miles.		13.37
			391.19
Acquired by merger, purchase, and donation.			1,475.93
From the Chesapeake and Ohio Railroad Company, July 1, 1878:
Construction by that company—
Doswell to Fredericks Hall, Va., 1837.	22.80
Fredericks Hall to Louisa, Va., 1838.	11.90
Louisa to Gordonsville, Va., 1840.	13.90
Gordonsville to Cobham, Va., 1848.	7.00
Cobham to Rogers Mills, Va., 1848.	7.00
Rogers Mills to Shadwell, Va., 1849.	1.90
Shadwell to Charlottesville, Va., 1850.	5.10
Doswell to Richmond, Va., 1851.	26.30
Charlottesville to Ivy, Va., 1851.	7.50
Ivy to Mechums River, Va., 1852.	3.00
Waynesboro to Staunton, Va., 1854.	12.40
Staunton to Goshen, Va., 1855.	32.00
Goshen to Millboro, Va., 1856.	7.00
Millboro to Jackson River, Va., 1858.	17.20
Jackson River to Covington, Va., 1867.	12.60
Covington, Va., to Huntington, W. Va., 1873.	214.70
Constructed for The Blue Ridge Railroad Company by the State of Virginia—
Mechums River to Waynesboro, Va., 1849-1856.	16.60
		418.90
From the Richmond and Alleghany Railway Company, Jan, 20, 1890:
Constructed by The Richmond and Alleghany Railroad Company—
Richmond to Columbia, Va., 1880.	56.50
Clifton Forge to Lynchburg, Va., 1881.	82.70
Columbia to Lynchburg, Va., 1881.	90.17
Balcony Falls to East Lexington, Va., 1881.	20.10
Dock connection from Eighth Street to Twenty-eighth Street, Richmond, Va., 1882.	1.24
Bremo to New Canton, Va., 1885.	0.33
		251.04
From the New River Bridge Company, Oct. 24, 1890.		0.35
Constructed by that company—
Bridge, including 0.35 mile of road, across New River at Thurmond, W. Va.
From the Passenger and Belt Railway Company, Jan. 1, 1895:		4.20
Constructed by that company—
In Lexington, Ky., date unknown
From the Buckingham Railroad Company, Nov. 5, 1897:
Constructed by that company—
New Canton to Arvon, Va., 1884-85.	3.91
Arvon to Rosney, Va., 1892-93.	16.55
		20.46
From The Greenbrier and New River Railroad Company, Nov. 21, 1901:
Constructed by that company—
South Side Junction to Rush Run, W. Va., 1887-1889.	3.31
Rush Run to Butchers Branch, W. Va., 1891-1894.	8.94
		12.25
From the Glen Jean Lower Loup and Deepwater Railroad Company, Nov. 21, 1901.		3.60
Constructed by that company—
Glen Jean to Carlisle, W. Va., 1900.
From the Kanawha Railway Company, Jan. 31, 1902.		14.60
Constructed by that company—
Cabin Creek to Acme, W. Va., no details as to construction.
From the Alberene Railroad Company, Feb. 15, 1902.		11.10
Constructed by that company—
Warren to Alberene, Va., 1898
From the Greenbrier Railway Company, Oct. 31, 1903:
Constructed by that company—
Whitcomb to Durbin, W. Va., 1900.	95.80
Durbin to Barton[sic - Bartow], W. Va., 1903.	2.20
		98.00
From the Guyandot Valley Railway Company, Oct. 31, 1903:
Constructed by that company—
Barboursville to Midkiff, W. Va., 1899-1901.	27.00
Midkiff to Big Creek, W. Va., 1901-1903.	23.20
		50.20
From the Kanawha and Pocahontas Railroad Company, Feb. 1, 1905:
Constructed by that company—
Paint Creek to end of track, W. Va., 1899-1901.	14.42
End of track to Imperial, W. Va., 1904.	1.58
Imperial to Keeferton, W. Va., 1905.	4.00
		20.00
From The Chesapeake and Ohio Railway Company of Kentucky (of 1906), July 1, 1907:
Constructed by the Elizabethtown, Lexington and Big Sandy Railroad Company—
Lexington to Mount Sterling, Ky., 1872.	33.40
Mount Sterling to Denton, Ky., 1881.	69.31
Ashland to West branch of Big Sandy River, Ky., 1881.	6.50
Constructed by the Kentucky and South Atlantic Railway Company—
Mount Sterling to Rothwell, Ky., between 1882 and 1885.	19.54
Constructed by the Ohio and Big Sandy Railroad Company—
Walbridge to Richardson, Ky., 1892.	15.70
Constructed by the Chattaroi Railway Company—
Ashland to Walbridge, Ky., 1881-1883.	37.42
Constructed by the Ohio, Kentucky and Virginia Railway Company—
Richardson to White House, Ky., 1886-87.	8.10
Constructed by the Maysville and Big Sandy Railroad Company—
Ashland to Licking River, Ky., 1888-89.	142.37
At Covington, Ky., 1888-89.	0.63
Constructed by The Covington Short Route Transfer Railway Company—
Licking River to Kentucky Central Junction, Covington, Ky., 1888.	0.80
Constructed by The Kinniconnick and Freestone Railway Company—
Garrison to Freestone, Ky., 1891.	8.94
Freestone to Carter, Ky., 1893.	10.83
Constructed by the Big Sandy Railway Company (of June, 1902)—
White House to Marrowbone, Ky., 1905.	69.30
Marrowbone to Elkhorn City, Ky., 1906.	7.40
Marrowbone to Hellier, Ky., 1906.	7.80
		438.04
From the Coal River Railway Company, Dec. 21, 1909:
Constructed by that company—
Hollyhurst to Dartmount, W. Va., 1906.	5.14
Dartmount to Peytona, W. Va., 1907.	6.10
Sproul to Madison, W. Va., 1907.	22.06
Madison to Clothier, W. Va., 1909.	12.20
Clothier to end of track, W. Va., 1909.	5.80
Constructed by the Coal River and Western Railway Company—
St. Albans to Forks of Coal, W. Va., 1902.	11.98
Forks of Coal to Hollyhurst, W. Va., 1904.	4.70
		67.98
From the Raleigh and Southwestern Railway Company, Feb. 28, 1910:
Constructed by that company—
Raleigh to end of line, W. Va., 1907-1908.	8.65
Constructed by the Glade Creek and Raleigh Railroad Company—
Raleigh to end of line W. Va., no details as to construction.	11.45
		20.10
From the Virginia Air Line Railway Company, July 12, 1912.		29.80
Constructed by that company—
Lindsay to Strathmore, Va., 1908
From The Mount Carbon Company, July 10, 1902.		5.20
Mount Carbon to Powellton, W. Va., no details as to construction.
From W. P. Rend, June 8, 1904.		4.61
Thurmond to Rend, W. Va., partly constructed, no details as to construction.
From the Quinnimont Coal Company, Oct. 1, 1904.		4.80
Quinnimont to Brownwood, W. Va., no details as to construction.
From the Robins Coal Company, Oct. 1, 1904.		0.70
Brownwood to end of track, W. Va., no details as to construction.
Total of above items.			1,867.12
Less reclassifications, straightening and changes in line, and abandonments:
First main track reclassified as second main track.		16.70
First main track reclassified as sidings.		7.17
Straightening and changes in line.		1.47
Road abandoned.		9.47
			34.81
Total recorded mileage.			1,832.31
Add difference between total recorded mileage and mileage inventoried as of date of valuation.			3.196
Mileage inventoried as of date of valuation, including 1.088 miles jointly owned and used.			1,835.506

Lessor Companies

• Norfolk Terminal
• Covington and Cincinnati
• Gauley and Meadow River
• Elkhorn & Beaver Valley
• Island Creek
• Logan and Southern
• Cincinnati Inter-Terminal

Leased Railway Property

The carrier uses on date of valuation facilities owned by other companies and other companies use facilities owned by the carrier to the extent indicated in the statement below.

The description of the property, the period and terms of use and the rentals accrued and charged or credited to income for the year ending on date of valuation, are as follows:

	Rental
Solely owned, but jointly used, used with —
The Virginian Railway Company —
Main tracks, 11.53 miles, from Pemberton to Westwood, W. Va., and from Forest to Woodpeck, W. Va.; stipulated payment 50 per cent on valuation with minimum of 25 per cent per annum divided on basis of cars handled; also proportion of maintenance, operation, and taxes on same basis.	$11,085.18
Main tracks, 3.5 miles, Carlisle to White Oak Junction, W. Va., stipulated payments on same basis as above.	3,963.85
Southern Railway Company —
Yard tracks, 3.14 miles, at Richmond, Va.; Main Street station to Southern Railway Park siding; stipulated payment 40 cents for each car or locomotive operated by or for their account to or from Main Street station.	2,434.69
Seaboard Air Line Railway Company —
Connection track, 427 feet, at Richmond, Va., Washington Street to point midway between Seaboard Air Line Railway Company switch and carrier switch; stipulated monthly rental $23.80; rental for year ended on date of valuation includes payments for 14 years.	3,998.40
Louisville and Nashville Railroad Company —
Depot grounds and tracks at Newport, Ky.; stipulated payment proportion of interest at 6 per cent per annum on cost of property based on tonnage handled; maintenance and operation costs divided on basis of tonnage handled.	1,887.15
Tracks, 0.64 mile on Limestone, Main and Conell Streets, Lexington, Ky., stipulated payment $500 per month, which includes maintenance and operation.	433.87
Belt Line tracks, 1,550 feet, at Lexington, Ky.; stipulated payment 6 per cent per annum on value of portion of Belt Line tracks used, $6,527.50; based on number of cars handled for each company; maintenance and taxes based on cars handled for each company.	128.75
The Sandy Valley and Elkhorn Railway Company —
Yard and station facilities at Shelby, Ky.; stipulated payment $574.76 monthly.	2,391.12
Ashland Coal and Iron Railway Company —
Delivery track, 974 feet, at Ashland, Ky.; stipulated payment $330 per annum.	252.00
Lexington and Eastern Railway Company —
Main track, 5,700 feet, Netherlands to Lexington, Ky.; contract dated Nov. 1, 1915; stipulated payment $500 per month.	215.97
West Virginia Pulp and Paper Company —
Track, 7.4 miles, Cass to Hosterman, W. Va.; stipulated payment $2.50 per loaded car handled in either direction over line of road by the West Virginia Pulp and Paper Company's own engines; carrier maintains tracks.	274.59
Clyde Steamship Company —
Freight depot at Newport News, Va.; stipulated payment $420 per annum.	27.89
Merchants and Miners Transportation Company —
Freight depot at Newport News, Va.; lease dated Jan. 1, 1916; stipulated payment $1,200 per annum.	13.52
Morehead and North Fork Railroad Company —
Freight depot at Morehead, Ky.; stipulated rental $7.50 per month.	90.00
Norfolk and Western Railway Company —
Passenger station at Basic, Va.; stipulated payment 4 per cent per annum on one-half of the value of station, $9,500 and 50 per cent of cost of operation and maintenance.	190.00
Western Maryland Railway Company —
Freight station at Durbin, W. Va.; stipulated rental $25 per month; each company pays 50 per cent of cost of station supplies.	300.00
Boone Lumber Company —
Tracks, 14.2 miles, from Clothier to point near mouth of Bushy Fork, W. Va.; stipulated payment $1,365 annually; use of carrier tracks on Spruce Fork of Coal River account of operation of log trains.	1,365.00
Spice Run Lumber Company —
Tracks, 4.1 miles, Mill Run to Spice River, W. Va.; stipulated payment $3 per car on account of operation of log trains.	3,043.97
Hewitt Lumber Company —
Tracks, 6.6 miles, from Run Creek Junction to Flagle, W. Va.; no contract obtainable and conditions of use are unknown.	319.50
George Craig and Sons —
Tracks, 6 miles, Winterburn to Durbin, W. Va.; no contract or terms obtainable.	639.95
Solely owned, but not used, leased to —
Nelson & Albemarle Railway Company —
Tracks, 4.984 miles, Alberene to Esmont Va.; term 10 years from Jan. 1, 1905, subject to cancellation on six months' notice; no rental consideration except maintenance of property.	---
Cole and Crane —
Tracks, 5.498 miles, Craneco to Loredo, W. Va.; no terms obtainable.	---
Solely used, but not owned, leased from —
Norfolk Terminal —
Entire property; term perpetuity from June 1, 1898; stipulated payment $30,000 per annum.	30,000.00
Covington and Cincinnati—
Entire property; operated under an implied lease by virtue of ownership of the entire outstanding capital stock and funded debt; used jointly with the Louisville and Nashville Railroad Company; stipulated payment proportion of 6 per cent per annum on cost of property and additions and betterments thereto; operation, maintenance, and taxes divided between participating companies on wheel age basis.	224,411.81
Gauley and Meadow River—
Entire property; operated since July, 1913, under an implied lease by virtue of ownership of the entire outstanding capital stock; no stipulated rental.	---
Elkhorn & Beaver Valley—
Entire property; leased from June 1, 1914, for indeterminate period; stipulated payment to be amount equivalent to net income; no rent paid for year ending on date of valuation.	---
Island Creek —
Entire property; lease dated Apr. 5, 1912, expires Apr. 10, 1932; stipulated payments, expenses of operation and maintenance of the property and 5 per cent per annum on the cost of the property used.	15,162.53
Logan and Southern —
Entire property; operated since Apr. 1, 1912, under an implied lease by virtue of ownership of the entire outstanding capital stock; no rental paid.	---
Cincinnati Inter-Terminal —
Entire property, connecting the property of the Covington and Cincinnati with that of The Cincinnati, Hamilton and Dayton Railway Company in the city of Cincinnati, Ohio; leased in perpetuity to the Covington and Cincinnati under agreement dated Jan. 5, 1905; stipulated rental 4 per cent on agreed valuation of the property.	33,496.61
Sulphur Mining and Railroad Company —
Tracks, 3.773 miles, Mineral to Sulphur Mines, Va.; lease dated Apr. 18, 1916, expires Dec. 31, 1925; the carrier maintains the property, but pays no other rental.	---
John Nuttall Estate (Keeneys Creek branch) —
Tracks, 7.689 miles, Keeneys Creek to Lookout, W. Va.; operated since June 17, 1891, under agreement of that date, for an indefinite period; the carrier maintains the property; furnishes the equipment, and pays the lessor all branch-line earnings accruing from coal shipments of the latter and one-third of all revenues accruing from other traffic.	1,360.72
Southern Railway Company —
Tracks, 9.034 miles, Gordonsville to Orange, Va.; lease dated Mar. 1, 1891, for indefinite period; stipulated rental $6,000 annually.	6,000.00
Ashland Coal and Iron Railway Company —
Tracks, 0.270 mile, at Ashland, Ky.; lease agreement dated July 1, 1902; stipulated rental $330 annually; no rental paid during year ending on date of valuation.	---
Jointly used, but not owned, owned by —
White Oak Railway Company —
Entire property; leased jointly by the carrier and The Virginian Railway Company for five years from Dec. 1, 1912; stipulated payments, $27,420 per annum, plus taxes and insurance, 50 per cent to be paid by each using company.	15,199.72
Piney River and Paint Creek Railroad Company —
Entire property leased by The Virginian Railway Company for five years from Dec. 1, 1912; the carrier leases an undivided one-half interest from that company for the same period, stipulated payments, $16,200 per annum, plus taxes, 50 per cent to be paid by each using company.	8,100.00
Kanawha Bridge and Terminal Company, used jointly by the carrier, the Charleston Interurban Company and the general public —
At Charleston, W. Va., a combination highway and railroad bridge, with the approaches, extending from a connection with the tracks of the carrier on the south side of the Kanawha River, to a connection with the tracks of The Kanawha & Michigan Railway Company on the north side of the river, a distance of 1.038 miles; stipulated annual rental $1 for each loaded car transported over the property, with a minimum amount of $10,000 per annum.	35,785.00
The Virginian Railway Company —
Main tracks, 9.11 miles, Pax to Bishop, W. Va.; stipulated payments, 5 per cent per annum on valuation of property, with minimum of 25 per cent per annum, divided on basis of cars handled, also proportion of maintenance, operation, and taxes on basis of cars handled.	14,937.74
Tracks, 1 mile, Glen Whits Junction, W. Va., to end of Shockley branch; terms of use not ascertained.	---
{Passenger and freight station at Pemberton, W. Va., stipulated rental 3 per cent of valuation of facilities and, improvements; operation and maintenance apportioned 50 per cent to each company.	651.25
The Kanawha & Michigan Railway Company —
Main tracks, 2.75 miles, at Charleston, W. Va., stipulated payment $6,000 per annum, also 2.5 per cent on cost of a second track and betterments.	5,400.00
Louisville and Nashville Railroad Company —
Main tracks, 84.40 miles, Lexington to Louisville, Ky.; stipulated payment $60,000 per annum, payable monthly, also one-half of 6 per cent per annum on cost of improvements and proportion of taxes; maintenance and operation divided on basis of cars handled.	105,935.02
Yard tracks at Lexington, Ky., terms and conditions of use unknown, contract not available.	120.00
Freight station at Covington, Ky., terms and conditions of use unknown; contract not available.	3,634.07
Land at Newport, Ky.; terms and conditions of use unknown; contract not available.	530.72
Norfolk and Western Railway Company —
Main tracks, 8.5 miles, Loch Laird to Glasgow, Va.; stipulated payment $4,500 per annum, payable quarterly, also one-half of 5 per cent interest on improvements; maintenance, operation, and taxes divided on basis of car mileage.	6,432.68
Passenger station and tracks at Lynchburg, Va.; stipulated payment $1,200 per annum, payable monthly; maintenance, operation, taxes, and insurance divided on basis of passenger-train service.	1,500.00
Passenger station at Natural Bridge, Va.; stipulated rental $10 per month, one-third wages of agent, 60 per cent wages of baggage-man and cost of maintenance, except maintenance of elevator, which is divided 50 per cent to each company.	120.00
Passenger station at Kenova, W. Va.; stipulated payment, proportion of interest at 4 per cent per annum on value of that portion of the station and its facilities used, $24,000, based on number of passenger trains handled for each company; operation and maintenance apportioned on basis of number of passenger trains handled.	654.83
Freight station at Kenova, W. Va., stipulated payment, one-third of 5 per cent interest per annum on $8,400; also, one-third of maintenance, operation, taxes, and insurance.	164.92
Ashland Coal and Iron Railway Company —
Main tracks, 21.30 miles. Ashland to Seaton, Ky.; stipulated payment $36,000 per annum, payable monthly, also proportion of maintenance and operation, based on number of cars handled; also proportion of 90 per cent of taxes on basis of cars handled.	46,494.81
The Philadelphia, Baltimore and Washington Railroad Company-
Main tracks, 2 miles, Washington, D. C. (Second Street and Virginia Avenue) to South end of Long Bridge, in Virginia; stipulated payment per month, proportion of one-third of 1 per cent of value of railroad facilities and appurtenances, based on the number of cars handled; maintenance, operation, and taxes divided on basis of cars handled.	2,582.81
Southern Railway Company —
Main tracks, 76.40 miles, Washington-Southern Junction to Orange, Va.; stipulated payments, proportion of $125,000 (being 5 per cent per annum on valuation of $2,500,000) per annum basis of engine and car mileage for each company, with a minimum of $31,250 per annum; also proportion of interest at 5 per cent on cost of improvements based on engine and car mileage; taxes and maintenance divided on basis of engine and car mileage.	84,967.84
The Cleveland, Cincinnati, Chicago and St. Louis Railway Company —
Main tracks, 0.6 mile, at Cincinnati, Ohio.; trackage on cars handled over these tracks by the Chesapeake and Ohio; bridge engines for interchange with various connections at Cincinnati; cars east of Wood Street, 40 cents each; cars west of Wood Street, 60 cents each.	9,213.80
Washington Southern Railway Company —
Freight classification yard and other facilities, including 56.01 miles of yard tracks, at Potomac Yard, Va.; stipulated payment, 4 per cent per annum on valuation and a portion of cost of maintenance and operation on basis of use.	(See below.)
Main-line passenger tracks, 5.82 miles, "AF" Block station to south end of Long Bridge, in Virginia; stipulated payment, 4 per cent per annum on valuation, and a portion of the cost of maintenance and operation on basis of use.	(See below.)
Connecting freight tracks, 146 miles, "AF" Block station to south end of Potomac Yard, Va.; stipulated payment, portion of 5 per cent on valuation, and a portion of the cost of maintenance and operation on basis of use; rental for these facilities and those described in the two preceding paragraphs.	8,822.31
Passenger station and tracks at Alexandria, Va.; stipulated payment, proportion of 4 per cent per annum on value of facilities jointly used, based on number of trains handled; for station facilities, based on car mileage for passenger tracks; maintenance and operation on same basis.	3,987.88
The Central Union Depot and Railway Company of Cincinnati —
Passenger terminal at Cincinnati, Ohio; stipulated payment $18,000 per annum plus taxes.	19,390.49
The Washington Terminal Company —
Passenger terminal facilities at Washington, D. C.; stipulated payment, one-third of 1 per cent per annum; taxes, maintenance, and operating cost apportioned among tenants on basis of use.	30,242.97
Louisville and Jeffersonville Bridge Company —
Freight depot, yards, and bridge, at Louisville, Ky.; stipulated payment, proportion of rental and taxes, based on tonnage.	17,220.65
Illinois Central Railroad Company —
Joint yards and terminal, passenger station, etc., at Louisville, Ky.; stipulated payment 5 per cent on cost of property, divided between four using companies, not including the owning company, on basis of cars handled.	8,222.85
Lexington Union Station Company (operated by the Louisville and Nashville Railroad Company) —
Passenger station at Lexington, Ky., stipulated payment, proportion of guarantee dividend of 4 per cent on stock; maintenance, operation, taxes, and insurance based on cars handled.	7,319.63
Seaboard Air Line Railway Company —
Passenger station at Portsmouth, Va.; for right to land passengers from steamers.	68.04
Newport News and Hampton Gas and Electric Company —
Tracks 1 mile, Phoebus to Buckroe, Va.; terms and conditions of use unknown, contract not available.	948.16
Hogg Lumber Company —
For use of sidetracks at Glen Jean, W. Va.	72.00
Jointly owned and jointly used, owned by —
The carrier.
Seaboard Air Line Railway Company —
Used by the above-named companies and the Southern Railway Company:
Passenger station at Richmond, Va.; Southern Railway Company pays proportion of interest at 5.5 per cent per annum on cost of property on basis of trains handled; maintenance and operation on same basis; rental received.	7,530.40
The carrier.
Southern Railway Company —
Passenger station at Charlottesville, Va.; ownership of tracks, one-half each; ownership of depot, Southern Railway Company, two-thirds, carrier, one-third; no contract available; rental paid.	90.00
The carrier.
Louisville and Nashville Railroad Company —
Depot grounds and tracks at Winchester, Ky.; joint station expenses apportioned on basis of less-than-carload freight tonnage received and forwarded for the respective companies; maintenance, taxes, and insurance divided equally; rental received.	149.65
The carrier.
Norfolk and Western Railway Company —
Belt Line 1,650 feet, at Basic, Va.; stipulated payment $268.09 annually and one-half of cost of operation and maintenance.	268.09

Predecessor Companies

Chesapeake and Ohio Railroad; Virginia Central Railroad; The Louisa Railroad

Introductory

The Chesapeake and Ohio Railroad Company was incorporated February 18, 1836, under a special act of Virginia as The Louisa Railroad Company. Under a special act of Virginia, approved February 2, 1850, this name was changed to Virginia Central Railroad Company, and under special act of Virginia and West Virginia, approved March 1, 1867, and February 26, 1867, respectively, the latter name was changed, effective August 31, 1868, to that first above given. The organization was perfected on June 13, 1836.

The company owned and operated on the date of its demise, July 1, 1878, a single-track, standard-gauge railroad 418.90 miles in length, extending from Richmond, Va., to Huntington, W. Va.

The Richmond, Fredericksburg & Potomac Railroad Company operated the property of the Chesapeake and Ohio Railroad Company from 1837 to 1847 and furnished all the equipment. On October 9, 1875, the property was placed in the custody of Henry Tuson, receiver, and was operated by him until January 20, 1876, at which time W. C. Wickham was appointed receiver and operated the property until July 1, 1876, when, under foreclosure proceedings, the franchises, rights, and property of the company were acquired by the carrier.

Development of Fixed Physical Property

Of the 418.90 miles of road owned by the Chesapeake and Ohio Railroad Company on the date of its demise, it had acquired, through purchase on April 1, 1870, 16.60 miles from The Blue Ridge Railroad Company. The remaining 402.30 miles were acquired by construction. The work was done under contracts with independent contractors. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the carrier.

Covington and Ohio Railroad, Predecessor of the Virginia Central Railroad

There are no records obtainable for the above-named company. The information here submitted has been taken from the accounting records and the corporate history return of the carrier. The company was incorporated February 18, 1853, under a special act of Virginia. The act of incorporation made the Board of Public Works of Virginia a body politic and corporate under the corporate name first above mentioned and authorized them to construct, operate, and maintain a railroad from the western terminus of the Virginia Central Railroad Company at Covington, Va., to the Ohio River.

On date of demise no road had been completed by the Covington and Ohio Railroad Company although it had expended $3,207,101.83 in grading and other construction work.

Upon the creation of the State of West Virginia, in 1863, that portion of the road within that State was claimed by it and subsequently by special acts of Virginia and West Virginia, approved March 1, 1867, and February 26, 1867, respectively, the commissioners of the respective States were authorized to enter into contract with the Virginia Central Railroad Company for the completion of the road. Under agreement dated August 31, 1868, between the commissioners and the Virginia Central Railroad Company, the latter assumed the construction of the road.

Blue Ridge Railroad, Predecessor of the Chesapeake and Ohio Railroad

There are no records obtainable for the above-named company. The information here submitted has been taken from the accounting records and the corporate history return of the carrier. The Blue Ridge Railroad Company was incorporated under a special act of Virginia, approved March 5, 1849. This act made the Board of Public Works of the State of Virginia a body politic and corporate under the corporate name above given and authorized them to construct, operate and maintain a railroad from Mechum's River to Waynesboro, Va., thus connecting the eastern and western termini of the Chesapeake and Ohio Railroad Company at the points named.

On date of demise the property consisted of a single-track, standard-gauge, railroad of 16.81 miles, extending from Mechum's River to Waynesboro, Va. The construction of this line was commenced by the State of Virginia in 1849 and involved the construction of four tunnels. In order to operate the road while the tunnels were being constructed, it was found necessary to construct a temporary track over the Blue Ridge Mountains. This was subsequently abandoned. The first train crossed the temporary track over the mountains on April 1, 1854, and the first train passed through the tunnels on April 13, 1858.

The records of the State of Virginia indicate that expenditures amounting to $1,694,870.85 were made in creating and improving the property.

The property of the Blue Ridge Railroad Company was operated either by the Chesapeake and Ohio Railroad or its predecessor, the Virginia Central Railroad Company, from date of opening to April 1, 1870, for the State of Virginia, under a special act of Virginia, approved March 5, 1849.

Richmond and Alleghany Railway

Introductory

There are no obtainable accounting records for the above-named company. The information here submitted has been taken from the accounting records and the corporate history return of the carrier. The Richmond and Alleghany Railway Company was incorporated May 20, 1889, under the general laws of Virginia, by a purchasing committee acting in behalf of the bondholders of The Richmond and Alleghany Railroad Company, for the purpose of acquiring the franchise, rights, and property of that company, under foreclosure proceedings and continuing the operation thereof.

The property of The Richmond and Alleghany Railroad Company, on January 20, 1890, the date of its demise, consisted of a single-track, standard-gauge, railroad constructed by the predecessor, The Richmond and Alleghany Railroad Company and extending from Richmond to Clifton Forge, Va., with branch lines, totaling 251.04 miles of road. In addition the Richmond and Alleghany Railway Company owned dock property at Richmond, Va., and water-power rights at Richmond, Manchester, and Lynchburg, Va., all of which it had acquired from The Richmond and Alleghany Railroad Company. It was operated by the carrier from date of incorporation to date of demise, when the franchise, rights, and property were transferred to that company.

The Richmond and Alleghany Railroad; Straight-Shoot Railroad; Richmond and Lynchburg Railroad

Introductory

The above-named company was incorporated March 30, 1860, under a special act of Virginia, as the Richmond and Lynchburg Railroad Company. On March 27, 1873, by virtue of a similar act, its name was changed to Straight-Shoot Railroad Company, and on February 28, 1878, its name was again changed, in the same manner, to that first above given. Under its first two names, the company engaged in no active enterprises.

On date of its demise, May 20, 1889, The Richmond and Alleghany Railroad Company owned a single-track, standard-gauge railroad, extending from Richmond to Clifton Forge, Va., a distance of 229.37 miles. It also owned a branch line extending from Balcony Falls to East Lexington, Va., a distance of 20.10 miles, with two other branches totaling 1.57 miles. Its road mileage thus aggregated 251.04 miles. In addition, the company owned dock property at Richmond, Va., and water-power rights at Richmond, Manchester, and Lynchburg, Va.

The company operated its owned property, and 3.91 miles of road leased from the Buckingham Railroad Company, until July 1, 1883, when it was placed in the possession of a receiver on account of failure to pay interest on funded debt. The receiver operated the property until the date of demise, when it was conveyed by deed of that date to a purchasing committee, who subsequently became duly organized and incorporated under the name of Richmond and Alleghany Railway Company.

Development of Fixed Physical Property

The entire 251.04 miles of road owned by The Richmond and Alleghany Railroad Company on date of demise had been acquired by it through construction. The construction work was done under contract by independent contractors. Further details with regard to the construction of this property are given in the chapter on development of fixed physical property in the report on the Chesapeake and Ohio.

In addition to the above, the company acquired certain canal and other property from the following companies:

James River and Kanawha Company, Mar. 4, 1880:

Canal extending from Richmond to Buchanan, Va., 195.20 miles, with dock facilities at Richmond, Va.

Buchanan and Clifton Forge Railway Company, July 2, 1880:

No completed property; partly constructed canal and railway property from Buchanan to Craig Creek, Va., 15 miles.

The North River Navigation Company, Mar. 9, 1883:

Canal from North River to Lexington, Va., 19.75 miles.

The above-described canal properties and the water-power privileges acquired from the same companies were subsequently abandoned. The partially constructed road of the Buchanan and Clifton Forge Railway Company was completed with the other construction.

James River and Kanawha Company, Predecessor of The Richmond and Alleghany Railroad

The obtainable accounting records of the above-named company are incomplete and furnish little information with respect to its financial transactions. The information herein submitted has been taken from the records just mentioned and supplemented by information taken from the corporate history return of the Carrier.

The James River and Kanawha Company was incorporated March 16, 1832, under a special act of Virginia, by which it was authorized to construct a canal and also to acquire the franchise, rights, and property of the James River Company. The company acquired by construction a canal from Maiden's Adventure to Lynchburg, Va., and from Balcony Falls to Buchanan, Va. Pursuant to the authorization contained in its charter, it acquired the property of the James River Company, consisting of a canal from Richmond to Maiden's Adventure, Va., and subsequently acquired the franchise, rights, and property of the Richmond Dock Company, under a special act of Virginia dated July 9, 1841. The property of the last-mentioned company consisted of docks at Richmond, Va.

At March 4, 1880, when the James River and Kanawha Company was merged with The Richmond and Alleghany Railroad Company, it owned and operated a canal from Richmond to Buchanan, Va., a distance of 195.20 miles, with dock facilities at Richmond, Va.

James River Company, Predecessor of the James River and Kanawha Company

The James River Company was incorporated under a special act of Virginia, approved in October, 1784, which, together with an amendment by a special act of Virginia of February 17, 1820, authorized it to construct a canal and improve the navigation of the James River in Virginia. It constructed a canal from Richmond to Maiden's Adventure, Va., 30.50 miles, and from Lynchburg to Balcony Falls, Va., 28.80 miles, which it operated until March 16, 1832, when its franchise, rights, and property were acquired by the James River and Kanawha Company under authority of a special act of Virginia of that date.

Richmond Dock Company, Predecessor of the James River and Kanawha Company

The Richmond Dock Company was incorporated February 19, 1816, under a special act of Virginia, for the purpose of constructing and operating docks at Richmond, Va. It constructed a dock at that place extending from Fourteenth to Twenty-eighth Streets, which it operated until July 9, 1841, when its franchise, rights, and property were acquired by the James River and Kanawha Company, under authority of a special act of Virginia of that date.

Buchanan and Clifton Forge Railway, Predecessor of The Richmond and Alleghany Railroad

Introductory

The Buchanan and Clifton Forge Railway Company was incorporated March 27, 1876, under a special act of Virginia that was amended January 14, 1878. It was controlled by The Richmond and Alleghany Railroad Company through ownership of 97 per cent of the outstanding capital stock. The Buchanan and Clifton Forge did not complete the construction of any road mileage prior to July 2, 1880, the date of its demise. On July 2, 1880, the property of this company was merged with that of The Richmond and Alleghany Railroad Company.

Development of Fixed Physical Property

The Buchanan and Clifton Forge Railway Company was incorporated at the suggestion of the James River and Kanawha Company, which had in process of construction an extension of its canal from Buchanan to Craig Creek, Va., about 15 miles, for which it had acquired a right of way and constructed some locks and gates, a tunnel, canal bed, and towpath, which were acquired by the Buchanan and Clifton Forge Railway Company and became a part of its projected railroad. During the years 1876 to 1880, the obtainable records indicate that the Buchanan and Clifton Forge Railway Company made expenditures for grading and masonry, bridges, trestles, and culverts, and track laying, but no road had been completed at date of demise.

The North River Navigation Company, Predecessor of The Richmond and Alleghany Railroad

The North River Navigation Company was incorporated March 19, 1841 under a special act of Virginia.

On March 9, 1883, when its franchise, rights, and property were merged with The Richmond and Alleghany Railroad Company, it owned a canal from the mouth of North River to Lexington, Va., about 19.75 miles, which it had acquired by construction begun in 1850 and completed May 20, 1884. The canal was operated from May 20, 1854, to January 8, 1857, by its own organization; from the latter date to March 4, 1880, by the James River and Kanawha Company; and from March 4, 1880, to March 9, 1883, by The Richmond and Alleghany Railroad Company.

Craig Company

There are no obtainable records for the Craig Company. The information here submitted has been obtained from the corporate history return and the accounting records of the carrier. The Craig Company was incorporated March 4, 1884, under a special act of Virginia. The obtainable records indicate that the Craig Company issued $83,500 of capital stock for unknown considerations. It acquired some right of way, but constructed no road. The carrier acquired the Craig Company's franchise, rights, and property on June 2, 1890, and subsequently constructed its present Craig Valley branch, extending from Eagle Mountain to New Castle, Va., under said franchise.

New River Bridge Company

There are no obtainable accounting records for the New River Bridge Company. The information here submitted has been taken from the company's corporate minutes and the corporate history return and accounting records of the carrier. The New River Bridge Company was incorporated under the general laws of West Virginia on January 25, 1887.

On October 24, 1890, the date of its demise, the New River Bridge Company owned a bridge across the New River at Thurmond, W. Va., together with 0.35 mile of single-track, standard-gauge railroad, which it had acquired by construction under unknown conditions. Construction began in October, 1887, and the bridge and tracks were completed and placed in operation in April, 1889.

Under an agreement dated March 11, 1889, the carrier operated the property of the New River Bridge Company from date of completion to October 24, 1890, when the franchise, rights, and property of that company were acquired by the lessee. The lessee operated and maintained the property, paid all taxes, interest, and other expenses. It made no accounting thereof to the New River Bridge Company.

Passenger and Belt Railway; City Passenger Railway; Central City Passenger and Transportation Company

There are no obtainable records for the Passenger and Belt Railway Company. The information here submitted has been taken from the corporate history return and accounting records of the carrier. The Passenger and Belt Railway Company was incorporated May 18, 1886, under a special act of Kentucky, as the City Passenger Railway Company. Its name was changed to Central City Passenger and Transportation Company by virtue of a similar act approved February 17, 1888. The latter name was changed to that first mentioned by another act, approved March 1, 1888.

This company constructed 4.20 miles of single-track, standard-gauge railroad from the eastern to the western limits of Lexington, Ky., connecting the Elizabethtown, Lexington and Big Sandy Railroad with the Cincinnati Southern Railroad. The property was operated from completion to January 1, 1895, under unknown conditions, when the carrier acquired the franchise, rights, and property thereof.

Buckingham Railroad

Introductory

There are no obtainable accounting records for the Buckingham Railroad Company. The information here submitted has been obtained from the minutes of stockholders and directors, the accounting records of The Richmond and Alleghany Railroad Company and the corporate history return of the carrier. The Buckingham Railroad Company was incorporated March 28, 1879, under a special act of Virginia.

On November 6, 1897, the date of its demise, the company owned 20.46 miles of single-track, standard-gauge railroad extending from New Canton to Rosney, Va., all of which had been acquired through construction, as detailed in the chapter on development of fixed physical property in the report on the carrier. The property was leased to The Richmond and Alleghany Railroad Company from February 23, 1885, to May 20, 1889, and to the carrier from the latter date until the date of demise.

The Greenbrier and New River Railroad

Introductory

There are no obtainable accounting records for The Greenbrier and New River Railroad Company. The information here submitted has been taken from the company's corporate minutes and the corporate history return and accounting records of the carrier. The Greenbrier and New River Railroad Company was incorporated August 6, 1881, under the general laws of West Virginia.

On November 21, 1901, the date of its demise, the company owned 12.25 miles of single-track, standard-gauge, railroad extending from South Side Junction to Butcher's Branch, W. Va., all of which had been acquired through construction between 1887 and 1894. The property was operated by the carrier from completion to November 21, 1901, when its franchise, rights, and property were acquired by that company. The carrier operated and maintained the property without return to The Greenbrier and New River Railroad Company by virtue of its ownership of the entire issue of capital stock.

Glen Jean Lower Loup and Deepwater Railroad

There are no obtainable accounting records for the Glen Jean Lower Loup and Deepwater Railroad Company. The information here submitted has been taken from the company's corporate minutes and the corporate history of the carrier. The Glen Jean Lower Loup and Deepwater Railroad Company was incorporated May 10, 1895, under the general laws of West Virginia.

On November 21, 1901, the company owned a single-track, standard-gauge railroad extending from Glen Jean to Carlisle, W. Va., a distance of 3.60 miles. The road was operated by the carrier from date of completion in December, 1900, to date of demise. The revenues and expenditures were merged with those of the carrier and that company made no accounting thereof to the Glen Jean Lower Loup and Deepwater Railroad Company.

[..]

On November 21, 1901, the franchise, rights, and property of the Glen Jean Lower Loup and Deepwater Railroad Company were acquired by the carrier.

Kanawha Railway

There are no obtainable records for the Kanawha Railway Company. The information here submitted has been obtained from the corporate history return of the carrier. The Kanawha Railway Company was incorporated June 9, 1881, under the general laws of West Virginia.

On January 31, 1902, when its franchise, rights, and property were acquired by the carrier, it owned a single-track, standard-gauge railroad extending from Cabin Creek to Acme, W. Va., a distance of 14.60 miles.

Alberene Railroad

There are no obtainable accounting records for the Alberene Railroad Company. The information here submitted has been obtained from the company's corporate minutes and the corporate history return of the carrier. The Alberene Railroad Company was incorporated December 20, 1895, under a special act of Virginia.

On February 15, 1902, the date of its demise, the company owned 11.10 miles of single-track, standard-gauge railroad extending from Warren to Alberene, Va., which it completed in 1898. Upon completion the property was leased to the carrier, which company continued the operation until February 15, 1902, when the franchise, rights, and property of the Alberene Railroad Company were acquired by the carrier.

Greenbrier Railway

Introductory

There are no obtainable accounting records for the Greenbrier Railway Company. The information herein submitted has been obtained from the company's corporate minutes and the corporate history return and accounting records of the carrier. The Greenbrier Railway Company was incorporated November 16, 1897, under the general laws of West Virginia.

On October 31, 1903, the date of demise, the company owned 98 miles of single-track, standard-gauge railroad extending from Whitcomb to Barton, W. Va., all acquired by construction, under the supervision of the carrier, between 1900 and 1903. Upon completion the road was operated by the carrier until October 31, 1903, when the franchise, rights, and property of the Greenbrier Railway Company were acquired by the carrier. The revenues and expenses of the Greenbrier Railway Company were merged with those of the carrier and no accounting thereof was made to the Greenbrier Railway Company.

Guyandot Valley Railway

There are no obtainable accounting records for the Guyandot Valley Railway Company. The information herein submitted has been taken from the accounting records and corporate history return of the carrier. The Guyandot Valley Railway Company was incorporated March 1, 1899, under the general laws of West Virginia.

On October 31, 1903, the date of its demise, the company owned 50.20 miles of single-track, standard-gauge railroad, extending from Barboursville to Big Creek, W. Va., that it had acquired by construction, under the supervision of the carrier, between 1899 and 1903. The property was operated by the carrier from date of opening to October 31, 1903, when the company's franchise, rights, and property were acquired by the carrier. The revenues and expenses of the Guyandot Valley Railway Company were merged with those of the carrier, and no accounting was made thereof to the owning company.

Kanawha and Pocahontas Railroad

There are no obtainable records for the Kanawha and Pocahontas Railroad Company. The information herein submitted has been obtained from the records and corporate history return of the carrier. The Kanawha and Pocahontas Railroad Company was incorporated December 30, 1898, under the general laws of West Virginia.

On February 1, 1905, the date of its demise, the company owned 20 miles of single-track, standard-gauge railroad, extending from Paint Creek to Keeferton, W. Va., which it had acquired by construction between 1899 and 1905.

The property was operated by the carrier from date of opening to February 1, 1905, when the company's franchise, rights, and all of its property, except rolling stock, river connection, and franchise to exist as a corporation, were acquired by the carrier. The carrier merged the revenues and expenses with those of its own and made no accounting to the Kanawha and Pocahontas Railroad Company.

Kanawha and Paint Creek Railway

The Kanawha and Paint Creek Railway Company was incorporated November 13, 1895, under the general laws of West Virginia. It purchased some lands and acquired a right of way, but, so far as is ascertainable, undertook no construction work. On May 6, 1902, its franchise, rights, and property were acquired by the Kanawha and Pocahontas Railroad Company. No records whatever of the affairs of this company are obtainable.

Kanawha and Paint Creek Railroad

The Kanawha and Paint Creek Railroad Company was incorporated April 28, 1884, under the general laws of West Virginia.

Under agreement dated November 26, 1888, between the Paint Creek Colliery Company and the carrier, the latter expended on its own account between January, 1880, and March, 1890, $35,596.94 in grading for an unknown distance, and the former conveyed to the carrier a sufficient right of way for a double-track, standard-gauge railroad through its property. No work was undertaken between March, 1890, and 1900, when the Kanawha and Paint Creek Railroad Company brought suit against the carrier to recover the right of way. Under a decree of the circuit court of Kanawha County, W. Va., the right of way was recovered and was conveyed to the Kanawha and Pocahontas Railway Company, the successor of the Kanawha and Paint Creek Railroad Company, by a deed dated June 25, 1900.

On November 25, 1895, the carrier acquired the franchise, rights, and property of the Kanawha and Paint Creek Railroad Company.

The Chesapeake and Ohio Railway Company of Kentucky (of 1906)

There are no obtainable accounting records for The Chesapeake and Ohio Railway Company of Kentucky (of 1906). It kept no books, issued no securities, and performed none of the functions of a common carrier. The information herein submitted has been taken from the corporate minutes of the company and the corporate history return of the carrier. The Chesapeake and Ohio Railway Company of Kentucky (of 1906) was incorporated June 1, 1906, under the general laws of Kentucky, as a consolidation of the Chesapeake and Ohio Railway Company of Kentucky (of 1904), The Kinniconnick and Freestone Railroad Company, and the Big Sandy Railway Company (of June. 1902).

Under the Kentucky laws in effect as of the above date, the carrier could not operate a railroad in that State under its charter issued by Virginia. It therefore organized The Chesapeake and Ohio Railway Company of Kentucky (of 1906), and the latter was incorporated in the interests of the carrier for the purpose of acquiring the franchises, rights, and property of the three Kentucky corporations above named, holding and operating these properties until authority could be secured by which to merge them with the carrier.

On July 1, 1907, the date of its demise, the company owned 438.04 miles of road, all in Kentucky, as follows: Lexington to Denton and branch to Rothwell, 122.27 miles; Ashland to Elkhorn City and branches to Peach Orchard and Hellier, 145.72 miles; Kentucky-West Virginia State line to Covington and branch to Carter, 170.05 miles. The entire 438.04 miles was acquired by consolidation on June 1, 1906, from the following companies: Chesapeake and Ohio Railway Company of Kentucky (of 1904), 333.77 miles; Kinniconnick and Freestone Railroad Company, 19.77 miles; Big Sandy Railway Company (of June, 1902), 84.50 miles. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the carrier.

Under an agreement dated June 8, 1906, the property of the company was operated by the carrier, without profit or loss to the lessor, until the date of demise, when the franchise, rights, and property of the company were acquired by the carrier.

Chesapeake and Ohio Railway Company of Kentucky (of 1904)

There are no obtainable accounting records for the Chesapeake and Ohio Railway of Kentucky (of 1904). The information here submitted has been taken from the corporate history return of the carrier. The Chesapeake and Ohio Railway Company of Kentucky (of 1904) was incorporated July 7, 1904, under the general laws of Kentucky, as a consolidation of the Lexington and Big Sandy Railway Company, the Maysville and Big Sandy Railroad Company, and The Covington Short Route Transfer Railway Company.

The carrier owned the entire capital stock of the Lexington and Big Sandy Railroad Company and 99 per cent of that of the capital stock and all of the bonds of the Maysville and Big Sandy Railroad Company. The latter company owned the entire capital stock of The Covington Short Route Transfer Railway Company.

Under the Kentucky laws in effect at that time, the carrier could not operate a railroad in that State under its charter issued by Virginia. Therefore, the Chesapeake and Ohio Railway Company of Kentucky (of 1904) was incorporated in the interests of the carrier to hold title to the property of the consolidated companies until other arrangements could be made.

The Chesapeake and Ohio Railway Company of Kentucky (of 1904) issued no securities and performed none of the functions of a common carrier. The capital stock of the consolidated companies was continued, with an endorsement on the certificates to the effect that they were the certificates of the Chesapeake and Ohio Railway Company of Kentucky (of 1904).

On June 1, 1906, the date of its demise, the company owned 333.77 miles of single-track, standard-gauge railroad, all in Kentucky, as follows: Kentucky-West Virginia State line to Covington, 150.28 miles; Lexington to Denton and branch to Rothwell, 122.27 miles, and from Ashland to Peach Orchard and White House, 61.22 miles. The entire 333.77 miles was acquired by consolidation on July 7, 1904, from the following companies: Lexington and Big Sandy Railway Company, 189.97 miles; Maysville and Big Sandy Railroad Company, 142.97 miles; The Covington Short Route Transfer Railway Company, 0.80 mile. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the carrier. The property was operated by the carrier, under an agreement dated July 19, 1904, without profit or loss to the Chesapeake and Ohio Railway Company of Kentucky (of 1904).

Under an agreement dated May 19, 1906, effective as of June 1, 1906, the Chesapeake and Ohio Railway Company of Kentucky (of 1904), the Kinniconnick and Freestone Railroad Company, and the Big Sandy Railway Company consolidated to form The Chesapeake and Ohio Railway Company of Kentucky (of 1906).

Lexington and Big Sandy Railway

There are no obtainable accounting records for the Lexington and Big Sandy Railway Company. The information here submitted has been taken from the corporate history return of the carrier. The Lexington and Big Sandy Railway Company was incorporated under the general laws of Kentucky on July 11, 1902, through the filing with the secretary of state of Kentucky an agreement dated July 1, 1902, providing for the consolidation of the Elizabethtown, Lexington and Big Sandy Railroad Company; the Kentucky and South Atlantic Railroad Company; the Ohio and Big Sandy Railroad Company; and the Ohio River and Charleston Railway Company of Kentucky. The carrier owned the entire outstanding capital stock of the consolidated companies, but was prevented from operating their properties because it had a charter granted by the State of Virginia. For this reason, the Lexington and Big Sandy Railway Company was incorporated in the interests of the carrier to hold title to the properties of the consolidated companies until other arrangements could be made.

The Lexington and Big Sandy Railway Company issued no securities and performed none of the functions of a common carrier. The outstanding capital stock of the several companies at the date of consolidation was continued, with an endorsement on the certificates to the effect that they were the certificates of the Lexington and Big Sandy Railway Company.

On July 7, 1904, the date of its demise, the company owned 189.97 miles of single-track, standard-gauge railroad, all in Kentucky, as follows: Lexington to Denton and branch to Rothwell, 122.27 miles; Ashland to Peach Orchard and White House, 61.22 miles, and from Ashland to the Kentucky-West Virginia State line, 6.48 miles. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the carrier. The property was operated by the carrier, by virtue of ownership of the entire capital stock, from July 1, 1902, to date of demise.

By an agreement dated July 1, 1904, that was filed July 7, 1904, the Lexington and Big Sandy Railway Company, The Covington Short Route Transfer Railway Company, and the Maysville and Big Sandy Railroad Company were consolidated to form the Chesapeake and Ohio Railway Company of Kentucky (of 1904).

Elizabethtown, Lexington and Big Sandy Railroad, Predecessor of the Lexington and Big Sandy Railway

Introductory

The Elizabethtown, Lexington and Big Sandy Railroad Company was incorporated January 29, 1869, under a special act of Kentucky, which was subsequently amended February 16, 1870; February 3, 1871; and February 18, 1872.

On July 1, 1902, the date of its demise, the company owned a single-track, standard-gauge railroad, all in Kentucky, extending from Lexington to Denton and from Ashland to West branch of Big Sandy River, comprising 109.21 miles of road. The company never operated its property. It was operated by other carriers, as follows:

Louisville, Cincinnati and Lexington Railroad Company. June, 1872, to July 21, 1881.

Kentucky Central Railroad Company. July 21, 1881, to Dec. 5, 1881.

Chesapeake and Ohio. Dec. 5, 1881, to Jan. 31, 1886.

Newport News and Mississippi Valley Company. Feb. 1, 1886, to Feb. 15, 1892.

The carrier. Feb. 15, 1892, to July 1, 1902.

Under an agreement dated July 1, 1902, that was filed July 11, 1902, the Elizabethtown, Lexington and Big Sandy Railroad Company; Ohio and Big Sandy Railroad Company; Kentucky and South Atlantic Railroad Company; and the Ohio River and Charleston Railway Company of Kentucky were consolidated to form the Lexington and Big Sandy Railway Company. While the consolidation was effective as of July 11, 1902, yet the accounting records were closed on June 30. 1902, and the data contained in this report is of that date.

Development of Fixed Physical Property

On February 6, 1871, the company acquired the franchise, rights, and property of the Lexington and Big Sandy Railroad Company — Western Division, the property of which consisted of some right of way and a surveyed line between Lexington and Denton, Ky. During the same year construction of the road was begun, under contract with independent contractors, and was completed as detailed in the chapter on development of fixed physical property in the report on the carrier.

The Lexington and Big Sandy Railroad Company — Western Division, Predecessor of the Elizabethtown, Lexington and Big Sandy Railroad

There are no obtainable records for The Lexington and Big Sandy Railroad Company — Western Division. The information here submitted has been taken from the corporate history returns of the carrier. The Lexington and Big Sandy Railroad Company — Western Division was incorporated January 26, 1865, under a special act of Kentucky and on the same date, under authority of this act, it acquired the franchise, rights, and property of the Lexington and Big Sandy Railroad Company between Lexington and Grayson, Ky. The company made some surveys, acquired some right of way, but constructed no road. On February 6, 1871, its franchise, rights, and property were acquired by the Elizabethtown, Lexington and Big Sandy Railroad Company.

Lexington and Big Sandy Railroad, Predecessor of The Lexington and Big Sandy Railroad Company — Western Division

There are no obtainable records for the Lexington and Big Sandy Railroad Company. The information here submitted has been taken from the corporate history returns of the carrier. The Lexington and Big Sandy Railroad Company was incorporated January 9, 1852, under a special act of Kentucky. The company constructed no road and on September 30, 1864, under a decree of the circuit court of Fayette County, Ky., its franchise, rights, and property were conveyed to W. T. Nicholls and others, who subsequently, under a special act of Kentucky approved January 26, 1865, conveyed said franchise, rights, and property for that portion of the projected line between Lexington and Grayson, Ky., to The Lexington and Big Sandy Railroad Company — Western Division.

Kentucky and South Atlantic Railroad, Predecessor of the Lexington and Big Sandy Railway

Introductory

The Kentucky and South Atlantic Railroad Company was incorporated under the general laws of Kentucky for the purpose of acquiring from C. P. Huntington the properties formerly belonging to the Kentucky and South Atlantic Railway Company and the Coal Road Construction Company. The articles of association were dated May 23, 1888, but were not filed until June 13, 1888.

On July 11, 1902, the date of demise, the company owned 19.54 miles of single-track, standard-gauge railroad, extending from Mt. Sterling to Rothwell, Ky., and certain lands in Montgomery and Menifee Counties, also in Kentucky. The property of the company was operated by its own organization from July 16, 1888, to June 30, 1893, and by the carrier, by virtue of ownership of entire capital stock, from July 1, 1893, to June 30, 1902.

Under an agreement dated July 1, 1902, effective July 11, 1902, the Kentucky and South Atlantic Railroad Company was consolidated with the Elizabethtown, Lexington and Big Sandy Railroad Company, the Ohio and Big Sandy Railroad Company, and the Ohio River and Charleston Railway Company of Kentucky, to form the Lexington and Big Sandy Railway Company.

Development of Fixed Physical Property

The entire 19.54 miles of road was acquired from C. P. Huntington, and was formerly the property of the Kentucky and South Atlantic Railway Company. When acquired, July 16, 1888, it was narrow gauge. It was changed to standard gauge by the carrier, in 1896. The Kentucky and South Atlantic Railroad Company also owned 2,046 acres of land in Montgomery and Menifee Counties, acquired likewise from C. P. Huntington and being formerly the property of the Coal Road Construction Company.

Kentucky and South Atlantic Railway; the Mt. Sterling Coal Road Company, Predecessor of the Kentucky and South Atlantic Railroad

There are no obtainable records for the Kentucky and South Atlantic Railway Company. The information here submitted has been taken from the reports rendered by the company to the Railroad Commission of Kentucky and the accounting records and corporate history returns of the carrier. The Kentucky and South Atlantic Railway Company was originally incorporated February 20, 1874, under a special act of Kentucky, as The Mt. Sterling Coal Road Company. The name was changed to that first above given by a special act of Kentucky, approved January 14, 1882.

On July 16, 1888, the date of its demise, the company owned 19.54 miles of single-track, narrow-gauge railroad, extending from Mount Sterling to Rothwell, Ky., that was acquired by construction by the Coal Road Construction Company. The latter controlled the Kentucky and South Atlantic Railway Company and the officers of both companies were the same.

The property was operated by the company's own organization from completion to December 15, 1885, when its property was passed to a receiver, who operated it until November 28, 1887. On September 5, 1887, the property of the Kentucky and South Atlantic Railway Company and that of the Coal Road Construction Company, the latter consisting of 2,046 acres of land in Montgomery and Menifee Counties, Ky., were sold under foreclosure sale to C. P. Huntington. The deed conveying this property to Huntington was dated November 15, 1887, but it was not approved by the court until November 28, 1887. Huntington held the property in his own name and operated it until July 16, 1888, when he conveyed it to the Kentucky and South Atlantic Railroad Company, which had been incorporated for that purpose.

Ohio and Big Sandy Railroad, Predecessor of the Lexington and Big Sandy Railway

Introductory

The Ohio and Big Sandy Railroad Company was incorporated August 20. 1889, under the general laws of Kentucky, for the purpose of acquiring the franchise, rights, and property of the Chattaroi Railway Company.

On July 11, 1902, the date of demise, the company owned a single-track, standard-gauge railroad, extending from Ashland to Peach Orchard, Ky., a distance of 53.12 miles. The property was operated by the company's own organization to June 30, 1892, and thereafter to the date of demise by the carrier.

Under an agreement dated July 1, 1902, that was effective July 11, 1902, the Ohio and Big Sandy Railroad Company was consolidated with the Elizabethtown, Lexington and Big Sandy Railroad Company, the Kentucky and South Atlantic Railroad Company, and the Ohio River and Charleston Railway Company to form the Lexington and Big Sandy Railway Company.

Development of Fixed Physical Property

The road originally acquired from the Chattaroi Railway Company consisted of 49.72 miles, extending from Ashland to Richardson. On May 28, 1892, that portion of the road from Walbridge to Peach Orchard, 12.30 miles, was abandoned, and a new line from Walbridge to Richardson, 15.70 miles in length, that had been constructed, was placed in operation, making the total mileage owned on date of demise 53.12 miles.

Chattaroi Railway, Predecessor of the Ohio and Big Sandy Railroad

Introductory

There are no obtainable accounting records for the Chattaroi Railway Company, except a ledger from July, 1881, to June 30, 1885. The information here submitted has been taken from that ledger and from the corporate history return of the carrier. The Chattaroi Railway Company was incorporated under a special act of Kentucky, dated March 11, 1873, subsequently amended March 23, 1878.

On August 24, 1889, the date of demise, the property of this company consisted of a single-track, standard-gauge railroad, extending from Ashland to Richardson, Ky., a distance of 49.72 miles. This road was constructed and opened in sections between January 1, 1881, and May 1, 1883. The property was operated by the company's own organization from completion to July 1, 1885, when it was turned over to a receiver, who operated it until April 30, 1888. On the latter date it was sold to a purchasing committee. The committee operated the property until August 24, 1889, when the franchise, rights, and property were transferred to the Ohio and Big Sandy Railroad Company.

Ohio River and Charleston Railway Company of Kentucky, Predecessor of the Lexington and Big Sandy Railway

The Ohio River and Charleston Railway Company of Kentucky was incorporated June 25, 1894, under the general laws of Kentucky, for the purpose of acquiring the franchise, rights and property of the former Ohio, Kentucky and Virginia Railway Company from Charles E. Hellier.

On July 11, 1902, the date of demise, the company owned 8.10 miles of single-track, standard-gauge railroad, all of which was acquired from the Ohio, Kentucky and Virginia Railway Company. The company operated the property with its own organization until April 1, 1897, after which it was operated by the carrier. The lessee merged all revenues and expenses with those of its own and made no accounting thereof to the lessor.

On July 11, 1902, the company was consolidated with the Ohio and Big Sandy Railroad Company, Kentucky and South Atlantic Railroad Company, and Elizabethtown, Lexington and Big Sandy Railroad Company, to form the Lexington and Big Sandy Railway Company.

Ohio, Kentucky and Virginia Railway, Predecessor of the Ohio River and Charleston Railway Company of Kentucky

There are no obtainable records for the Ohio, Kentucky and Virginia Railway Company. The information herein submitted has been obtained from the corporate history return of the carrier. The Ohio, Kentucky and Virginia Railway Company was incorporated April 19, 1886, under a special act of Kentucky.

On November 13, 1894, the date of its demise, the company owned a single-track, standard-gauge railroad, extending from Richardson to Whitehouse, Ky., a distance of 8.10 miles, all of which was acquired by construction during 1886 and 1887. The company operated the property with its own organization from completion to November 7, 1887, when its franchise, rights and property were consolidated with those of the Charleston, Cincinnati and Chicago Railroad Company to form a new company by the same name as the latter. The agreement of consolidation, while dated November 7, 1887, was not filed and recorded until December 19, 1889. This new company constructed no additional road, but operated the property that it had acquired from November 7, 1887, to February 26, 1891, when it was placed in the possession of a receiver who operated the property until July 17, 1893. On the date just mentioned the franchise, rights, and property of the former Ohio, Kentucky and Virginia Railway Company were acquired by Charles E. Hellier, who held and operated the property in his own name until November 13, 1894. In the meantime, Hellier arranged the incorporation of the Ohio River and Charleston Railway Company of Kentucky, which took over the property on November 13, 1904.

Maysville and Big Sandy Railroad

Introductory

There are no obtainable accounting records for the Maysville and Big Sandy Railroad Company. The information herein submitted has been taken from the company's corporate minutes and the accounting records and corporate history return of the carrier. The Maysville and Big Sandy Railroad company was incorporated under a special act of Kentucky approved December 18, 1850.

The company began the construction of the railroad in 1853 and after making considerable expenditures, said to have been $300,000, became insolvent and suspended further construction in 1854. It executed several mortgages on its franchise and property to secure certain of its creditors. By acts of Kentucky, approved February 17, 1866, and February 28, 1867, these several mortgages were declared to be legal and authority was given to foreclose them by proceedings in Mason, Ky., circuit court, with power to that court to sell the franchise and property of the company at public auction. This act further provided that the purchasers should have the power to reorganize the company under its original charter and to make contracts for the construction and operation of the road. Under this authority, the franchise and property of the company were sold and conveyed to Harrison Taylor et al., by a deed dated November 5, 1869, that was not recorded until July 6, 1875. The purchasers reorganized on February 1, 1870, under authority given them, and called the new company by the name of the old. On January 15, 1873, the company agreed to sell its franchise and property to the Kentucky and Great Eastern Railway Company for $57,007, and the latter agreed to complete the road. The Kentucky and Great Eastern Railway Company entered into a contract with the Kentucky and Great Eastern Railroad Construction Company, for the construction of the road, and it had completed about 7 miles of road between Maysville and Catlettsburg, Ky., in 1874, when it became bankrupt and the work was suspended.

In the meantime, the Kentucky and Great Eastern Railway Company had failed to pay the $57,007, mentioned above, and had not completed the road in the time specified in the agreement, which resulted in the Maysville and Big Sandy Railroad Company reentering upon the property and taking possession of it. This action caused litigation that lasted about 10 years, until it was finally decided by the Supreme Court of the United States in the case of Wright v. Kentucky and Great Eastern Railway Company, 117 U. S. 72, that all of the road which had been constructed by the original Maysville and Big Sandy Railroad Company, the Kentucky and Great Eastern Railway Company, and the Kentucky and Great Eastern Railroad Construction Company should revert to the Maysville and Big Sandy Railroad Company.

Nothing further was done until February 7, 1888, when a contract was made with the Contracting and Building Company to complete and equip the road. Construction of the road from Ashland to Licking River, Ky., 142.37 miles, and from Kentucky Central Junction, Washington Street, Covington, Ky., to a connection with the Covington and Cincinnati in Covington, 0.63 mile, was begun in February, 1888, and was completed in sections between July 1, 1888, and January 1, 1889.

The property was operated by the Contracting and Building Company from July 1, 1888, to December 31, 1888, under unknown conditions, and by the carrier from January 1, 1889, to July 1, 1904, under a vote of the directors dated April 15, 1889, without profit or loss to the Maysville and Big Sandy Railroad Company.

Under an agreement dated July 1, 1904, effective on July 7, 1904, Maysville and Big Sandy Railroad Company, The Covington Short Route Transfer and Railway Company, and the Lexington and Big Sandy Railway Company, consolidated to form the Chesapeake and Ohio Railway Company of Kentucky (of 1904).

The Covington Short Route Transfer Railway

There are no obtainable accounting records for The Covington Short Route Transfer Railway Company. The information herein submitted has been taken from the company's corporate minutes and the corporate history return and accounting records of the carrier. The Covington Short Route Transfer Railway Company was incorporated May 15, 1886, under a special act of Kentucky.

On July 11, 1904, the date of demise, the company owned about 0.80 mile of single-track, standard-gauge railroad, extending from Licking River to Kentucky Central Junction, Covington, Ky., which was acquired by construction during the year 1888. The property was operated by the Chesapeake and Ohio from January 1, 1889, to July 1, 1904, under authority of a vote of the directors May 20, 1889. The Chesapeake and Ohio merged all revenues and expenses with those of its own and made no accounting thereof to The Covington Short Route Transfer Railway Company.

Under a vote of directors dated June 7, 1886, the company issued to several parties $10,000 of fully paid-up capital stock for "consideration of the franchise of this company and the expense in connection therewith." So far as ascertainable, this represented the entire capital securities as of date of demise.

Under an agreement dated July 1, 1904, effective July 11, 1904, The Covington Short Route Transfer Railway Company was consolidated with the Maysville and Big Sandy Railroad Company, and the Lexington and Big Sandy Railway Company to form the Chesapeake and Ohio Railway Company of Kentucky (of 1904).

The Kinniconnick and Freestone Railroad

There are no obtainable records available for The Kinniconnick and Freestone Railroad Company. The information herein submitted has been taken from the company's corporate minutes and the corporate history return and accounting records of the carrier. The Kinniconnick and Freestone Railroad Company was incorporated March 20, 1890, under a special act of Kentucky.

On June 1, 1906, the date of its demise, the company owned a single-track, standard-gauge railroad, extending from Garrison to Carter, Ky., a distance of 19.77 miles, which was constructed between 1890 and 1893, under contract supervised by the carrier. The property was operated by the carrier from completion to date of demise. The carrier collected all revenues and after paying the expenses, taxes, etc., applied the residue to the payment of interest.

On June 1, 1906, The Kinniconnick and Freestone Railroad Company was consolidated with the Chesapeake and Ohio Railway Company (of 1904) and the Big Sandy Railway Company (of June, 1902) to form The Chesapeake and Ohio Railway Company of Kentucky (of 1906).

Big Sandy Railway (of June, 1902)

Introductory

The Big Sandy Railway Company (of June, 1902) was incorporated June 12, 1902, under the general laws of Kentucky, and was a consolidation of the Big Sandy Railway Company of Virginia and the Big Sandy Railway Company (of April, 1902).

On June 1, 1906, the date of its demise, the company owned a single-track, standard-guage railroad between Whitehouse and Elkhorn City, Ky., a distance of 76.70 miles, and between Marrowbone and Hellier, Ky., a distance of 7.80 miles, all acquired by construction between 1902 and 1906. The work was done by independent contractors, supervised and financed by the carrier. The carrier operated the property from date of completion to June 1, 1906, by virtue of ownership of the entire issue of capital stock, when it was consolidated with The Chesapeake and Ohio Railway Company of Kentucky (of 1904) and The Kinniconnick and Freestone Railroad Company to form The Chesapeake and Ohio Railway Company of Kentucky (of 1906). While the consolidation was effective as of June 1, 1906, the accounting records were continued to June 30, 1907.

In 1906, prior to the consolidation just mentioned, the company sold the franchise and right of way in Virginia that it had acquired from the Big Sandy Railway Company of Virginia to the South Western Railway Company for $40,000 cash, which it credited to the investment in road and equipment account.

Big Sandy Railway of Virginia; Big Sandy Railway (of April, 1902)

The Big Sandy Railway Company of Virginia was incorporated March 15, 1902, under a special act of Virginia. The Big Sandy Railway Company (of April, 1902) was incorporated April 7, 1902, under the general laws of Kentucky. Neither company constructed any road. These companies were merged under an agreement dated June 10, 1902, effective June 12, 1902, to form the Big Sandy Railway Company (of June, 1902).

The accounts of these companies were handled as if there were only one company and, due to the absence of supporting records, a separation of the transactions by respective companies is not possible. The finances of the two companies were arranged for them by the carrier. Upon organization they issued their capital stock of the par value of $100,000 ($50,000 by each company) to the carrier, which the latter was to reimburse them by cash advances. This it had done to the extent of $66,835.59. The remainder, $33,164.43, was unpaid on date of demise.

Coal River Railway

Introductory

The Coal River Railway Company was incorporated January 4, 1905, under the general laws of West Virginia. On December 21, 1909, the date of its demise, the company owned a single-track, standard-guage railroad extending from St. Albans to Peytona and from Sproul to end of track, all in West Virginia, aggregating 67.98 miles of road. The property was operated by the carrier from July 1, 1908, to date of demise, under lease, and the company's franchises, rights, and property were transferred to the carrier on December 21, 1909.

Development of Fixed Physical Property

Under an agreement of February 21, 1905, between W. C. Sproul, W. A. MacCorkle, and J. E. Chilton, and the carrier, the former, who were the owners and operators of extensive timber and mineral lands in this section, for the purpose of securing an extension of the line of the then Coal River and Western Railway Company from Hollyhurst into their lands, transferred to the carrier, without cost, the entire capital stock of the Coal River Railway Company, and agreed to convey, without cost, a right of way 66 feet in width through the property owned and controlled by them. The carrier agreed to undertake the construction of the road and guaranteed to W. C. Sproul and associates, and the companies represented by them, Kanawha District freight rates on coal supplied from points on the Coal River Railway Company line.

Of the total of 67.98 miles of road owned on date of demise, 16.68 miles were acquired on May 31, 1905, from the Coal River and Western Railway Company and 51.30 miles were acquired by construction, under supervision of the carrier. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the carrier.

Coal River and Western Railway; Pocahontas, Coal River, and Kanawha Railway

There are no obtainable accounting records of the Coal River and Western Railway Company prior to December 29, 1903. After that date there is a ledger and journal. It is from these, together with the minutes of the stockholder's and director's meetings and the corporate history return of the carrier, that the information herein submitted has been obtained.

The Coal River and Western Railway Company was incorporated October 9, 1899, under the general laws of West Virginia, as the Pocahontas, Coal River and Kanawha Railway Company. Its name was changed to the first above given by amendment dated November 10, 1903.

On May 31, 1905, the date the property was transferred to the Coal River Railway Company, the company owned 16.78 miles of single-track, standard-gauge railroad, extending from St. Albans to Hollyhurst, W. Va. The line from St. Albans to Forks of Coal, 11.98 miles, was constructed by the United Construction Company, whose officers were the same as those of the Coal River and Western Railway Company, and opened for operation in September, 1902. The line from Forks of Coal to Hollyhurst, 4.70 miles, was constructed by independent contractors and opened for operation in May, 1904.

Raleigh and Southwestern Railway

Introductory

The Raleigh and Southwestern Railway Company was incorporated on October 2, 1903, under the general laws of West Virginia.

On February 28, 1910, the date of its demise, the company owned 20.60 miles of single-track road, of which 12.96 miles was narrow gauge and 7.64 miles standard gauge, extending from Raleigh, W. Va., to near-by points. The property of the Raleigh and Southwestern Railway Company was operated by the carrier from date of completion to date of demise. The company transferred its franchise, rights, and property to the carrier on February 28, 1910.

The company transferred its franchise, rights, and property to the carrier on February 28, 1910.

Development of Fixed Physical Property

Of the 20.60 miles of road owned on date of demise, the company acquired 12.96 miles of narrow-gauge track from the Glade Creek and Raleigh Railroad Company, on October 25, 1906. The 7.64 miles of standard-gauge track was acquired by construction in 1907 and 1908.

Glade Creek and Raleigh Railroad

No accounting records are obtainable for the Glade Creek and Raleigh Railroad Company. The information herein submitted has been obtained from the minute books of directors' and stockholders' meetings, the corporate history return of the carrier and the reports to the Railroad Commission of West Virginia. The Glade Creek and Raleigh Railroad Company was incorporated on July 21, 1891, under the general laws of West Virginia.

On October 25, 1906, the date of its demise, the company owned a single-track, narrow-gauge railroad, extending from Raleigh, W. Va., to the end of track, a distance of 12.96 miles, all of which had been acquired by construction. The property was operated by the Raleigh Lumber Company from July 17, 1906, to October 25, 1906, when its franchise, rights, and property were sold to the Raleigh and Southwestern Railway Company. The narrow-gauge equipment was disposed of to the Raleigh Lumber Company in September, 1906, for $16,925, under unknown conditions.

Virginia Air Line Railway

The Virginia Air Line Railway Company was incorporated April 10, 1906, under the general laws of Virginia.

On July 12, 1912, the date the franchise, rights, and property were transferred to the carrier, the company owned 29.8 miles of single-track, standard-gauge, steam railroad located in Virginia, which it had acquired by construction.

Development of Fixed Physical Property

The road was constructed completely, including engineering, but not the right of way, by J. N. H. Cornell & Company, at actual cost, plus a fee of $91,250, and extra work at actual cost, plus 12½ per cent. The road was opened for operation on May 1, 1908.

The Ohio and Kentucky Bridge Company, Predecessor of the Covington and Cincinnati

The Ohio and Kentucky Bridge Company was incorporated under the general laws of Ohio by filing on February 8, 1886, articles of incorporation that were dated February 6, 1866. It did nothing beyond perfecting its organization of February 12, 1886, on which date its franchise, rights, and property were acquired by the Covington and Cincinnati.