Wikipedia:WikiProject Trains/ICC valuations/Chesterfield and Lancaster Railroad

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The railroad of the Chesterfield and Lancaster Railroad Company, herein called the Chesterfield and Lancaster, is a single-track, standard-gage, steam railroad, located in northern South Carolina. The main line extends from Cheraw westerly to Crowburk, a distance of 35.261 miles. The company also owns 3.336 miles of yard tracks and sidings. Its road thus embraces 38.597 miles of all tracks wholly owned and used.

CORPORATE HISTORY

The Chesterfield and Lancaster was incorporated for a period of 30 years by special act, approved December 24, 1887, of the Legislature of the State of South Carolina. The purpose of incorporation was to construct, maintain, and operate a railroad from some point on the Cheraw and Darlington Railroad, within or near the corporate limits of the town of Cheraw, to the town of Lancaster, via Chesterfield Court House. The date of organization has not been ascertained.

By an act of the South Carolina Legislature approved February 15, 1924, the charter of this company was revived and continued in force and effect in perpetuity, and all past corporate acts were declared to be valid and of legal effect to the same extent as if the original charter had not previously expired.

The original charter was amended by special acts of the Legislature of the State of South Carolina, approved December 24, 1889, December 22, 1891, and March 9, 1896, which amendments authorized cities, townships, and counties to subscribe for its capital stock.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The road owned by the Chesterfield and Lancaster, amounting to 35.261 miles, had been acquired by it through construction, as indicated hereunder:

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In the construction of the entire mileage, A. H. Page and Sons was employed as contractor. The construction contract provided for the issue of a majority of the authorized capital stock to the contractor as part payment for construction work.

HISTORY OF CORPORATE FINANCING