Wikipedia:WikiProject Trains/ICC valuations/Coal and Coke Railway
Interstate Commerce Commission, Valuation Reports, Volume 42
Coal and Coke Railway
[edit]Location and General Description of Property
[edit]The railroad of the Coal and Coke Railway Company herein called the Coal and Coke Railway, is a single-track, standard-gage steam railroad, located in central West Virginia. The main line extends southwesterly from Elkins to Charleston, 174.482 miles, with branch lines projecting from Leiter Junction to Belington, Monroe to Mabie, Gassaway to Sutton, and Turner to Heatherman Mines, aggregating 25.424 miles. The company also owns 46.023 miles of yard tracks and sidings. Its road thus embraces 199.906 miles of road with 245.929 miles of all tracks, all wholly owned and used.
In addition to mileage shown above, the Coal and Coke Railway owns and operates jointly with the Baltimore and Ohio and the Western Maryland Railway Company 0.076 mile of main track and 0.477 mile of yard tracks and sidings at Belington, W. Va., its portion thereof based on ownership being shown in appendix 1.
The Coal and Coke Railway is controlled by H. R. Preston, general solicitor of the Baltimore and Ohio. It has connections with the tracks of the Baltimore and Ohio at various locations and forms an important part of that company's system in reaching the coal fields of West Virginia.
Introductory
[edit]The Coal and Coke Railway is a corporation of West Virginia, having its principal office at Elkins, W.Va. The Coal and Coke Railway uses under lease on date of valuation, with the option of purchase, the property of the Roaring Creek & Belington Railroad Company. This property was purchased by the Coal and Coke Railway on March 29, 1919, and has been treated, for the purposes of this report, as owned and used by the Coal and Coke Railway on date of valuation. Although the Coal and Coke Railway did not acquire title to the property formerly owned by the Charleston, Clendinnin & Sutton Railroad Company until August 11, 1903, the accounting records indicate that the property was taken over for operation by the former on January 1, 1903.
Of the 189,609 shares of capital stock of this company actually outstanding, 189,602 shares are recorded in the name of H. R. Preston, general solicitor, of the Baltimore and Ohio. The records reviewed do not indicate that this company controls any common-carrier corporation on date of valuation.
The common-carrier property of the Coal and Coke Railway was operated by its own organization from January 1, 1903, to December 31, 1917. On January 1, 1918, the common-carrier property of the Coal and Coke Railway was taken over for operation by the United States Railroad Administration, which still operates it on date of valuation.
Corporate History
[edit]The Coal and Coke Railway was incorporated May 14, 1902, under the general laws of West Virginia. The date of organization of the company was May 24, 1902. This company had three predecessors that comprise the line of corporate succession culminating in the Coal and Coke Railway as at present constituted. 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 follow.
| No. | Name | Incorporation | Succession |
|---|---|---|---|
| 1. | Coal and Coke Railway Company. | Incorporated under general laws of West Virginia, May 14, 1902. | |
| 2. | Charleston, Clendennin & Sutton Railroad Company. | General laws of West Virginia, May 14, 1891. | Sold to 1, August 11, 1903. |
| 3. | Roaring Creek & Belington Railroad Company. | General laws of West Virginia, November 11, 1893. | Sold to 1, March 29, 1919. |
| 4. | Roaring Creek & Charleston Railroad Company. | General laws of West Virginia, April 14, 1893. | Sold at foreclosure February 15, 1904, after receivership begun November 13, 1894, and acquired July 1, 1904, by 3. |
Development of Fixed Physical Property
[edit]The recorded mileage owned by the Coal and Coke Railway amounts to 199.91 miles, of which 83.41 was acquired by purchase, 66.05 miles from the Charleston, Clendennin & Sutton Railroad Company, August 11, 1903, and 17.36 miles from the Roaring Creek & Belington Railroad Company, March 29, 1919, and 116.50 miles was acquired by construction. The inventoried mileage is 199.906. Further details with respect to the construction of the property are given in the accounting report.
In addition to the above mileage, the Coal and Coke Railway owns and operates jointly with the Baltimore and Ohio and the Western Maryland Railway Company 0.076 mile of main track at Belington, W.Va.
Leased Railway Property
[edit]The common-carrier property of the Coal and Coke Railway, together with that of others which it operated under lease, was taken over for operation by the United States Railroad Administration on January 1, 1918, and is so operated on date of valuation. The Coal and Coke Railway used on December 31, 1917, property owned by other companies and other companies used property owned by the Coal and Coke Railway to the extent indicated below.
- Jointly owned and jointly used, owned: 33⅓ percent each by Coal and Coke Railway, Western Maryland Railway Company and The Baltimore and Ohio, passenger and freight station and other terminal facilities at Belington, W. Va., including 0.076 mile of main track and 0.477 mile of sidetrack under agreement dated January 11, 1908; terms and conditions, the Western Maryland Railway Company and the Coal and Coke Railway each pays to The Baltimore and Ohio Railroad Company $92 per year rental for lands used; operating and maintenance of passenger station and main track divided in proportion to number of passenger coaches entering and leaving; operation and maintenance of freight station in proportion to tons of freight handled.
- Solely owned, but jointly used, sundry minor facilities at Moore and Harland, W.Va., used with others, terms and conditions not determined.
- Jointly used, but not owned:
- Owned by Kanawha & Michigan Railway Company, station and about 0.35 mile of track at Charleston, W.Va., under agreement date April 12, 1904, rental $65, payable monthly.
- Owned by The Western Maryland Railway Company, tracks, about 0.01 mile of track at Belington, W.Va., under agreement dated January 13, 1908, no further details; station and other facilities and about 0.60 mile of track at Roaring Creek Junction and Elkins, W.Va., under agreement dated September 1, 1911, rental of station and tracks at Roaring Creek Junction, $15 per month; of station at Elkins, $125 per month; cost of operation of Roaring Creek Junction station equally divided.
The aggregate amount included in income account, joint-facility rents, for the year ended December 31, 1917, was $1,309.21.
Predecessor Companies
[edit]Charleston, Clendennin & Sutton Railroad
[edit]Introductory
This company was incorporated May 14, 1891, in West Virginia. Although the property was not conveyed to its successor by deed until August 11, 1903, the accounts were discontinued as of December 31, 1902. The accounting data in this report, therefore, covers the period to the latter date.
This company was controlled on August 11, 1903, the date of sale, by H. Q. Davis, of Elkins, W.Va., through ownership of a majority of its outstanding capital stock. The records reviewed do not indicate that it then controlled any common-carrier corporation.
The property owned by this company was operated by its own organization from the date the first section of its road was placed in operation, May 1, 1893, to the date of sale. It consisted of a single-track, standard-gage, steam railroad, about 64 miles, all in West Virginia and extended from Charleston to Otter. In addition, the company owned a partially constructed line extending from Otter to Gassaway, about 28 miles.
Development of Fixed Physical Property
The 64 miles of road owned by the company on date of sale together with the 28 miles of partially constructed road had been acquired through construction. The construction work was performed by the New York Company, contractors, during the period 1892 to 1901. The records do not indicate whether the officials of the New York Company were affiliated with the officials of the company.
Roaring Creek & Belington Railroad
[edit]This company was incorporated November 1l, 1893, in West Virginia. No accounting records were obtained which could be used for purposes of this report. The data contained herein were obtained from the report on its corporate history and the records of the Coal and Coke Railway. No information has been obtained as to whether or not the company is controlled by any individual or corporation, nor on the other hand, whether or not this company controls any common-carrier corporation on date of valuation.
The property was operated by its own organization from dates of acquisition and construction to December 31, 1904, and by the Coal and Coke Railway from January 1, 1905, until December 31, 1917, under the terms of a lease which includes an option of purchase and provides for the payment of all expenses and retention of all revenues by the Coal and Coke Railway. The property of the company was taken over for operation by the United States Railroad Administration on January 1, 1918, as a part of the system of the Coal and Coke Railway.
The railroad of the company consists of 17.78 miles of single-track, standard-gage, steam railroad, extending from Belington to Mabie, W.Va. It acquired 7.54 miles, July 1, 1904, by purchase from H. G. Davis which was formerly owned by the Roaring Creek & Charleston Railroad Company, and constructed by that company, 3.44 miles, Roaring Creek to Coalton, in 1893 and 1894 and 4.10 miles, Coalton to Mabie, in 1895 and 1896. The remaining 10.82 miles. Belington to Roaring Creek, was acquired by construction in 1895.
Roaring Creek & Charleston Railroad
[edit]This company was incorporated April 14, 1893, in West Virginia. No accounting records of the company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. Certain information stated below was obtained from the records of the successors. The records do not indicate whether the company was controlled by any individual or corporation on February 15, 1904, the date of sale under foreclosure proceedings, nor, on the other hand, whether or not it then controlled any common-carrier corporation. The company owned on date of sale approximately 7.5 miles of single-track, standard-gage, steam railroad in West Virginia. The line between Roaring Creek and Coalton, 3.4 miles, was built by the company during 1893 and 1894, and was operated by its own organization until November 12, 1894. The line was extended 4.1 miles to Mabie, during the years 1895 and 1896 by the receivers who operated the property from November 13, 1894, until February 15, 1904, when the road was sold under foreclosure proceedings to E. J. Berwind, who acquired title by deed of February 26, 1904. Title passed to H. G. Davis by deed of March 5, 1904, and to the Roaring Creek & Belington Railroad Company by deed of July 1, 1904.