Wikipedia:WikiProject Trains/ICC valuations/Georgia Midland Railway

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CORPORATE HISTORY

The Georgia Midland Railway was incorporated on March 27, 1896, under the general law of the State of Georgia approved December 17, 1892, and amended by an act approved December 15, 1894, for the purpose of owning, maintaining, and operating the property, rights, and franchises formerly owned by The Georgia Midland & Gulf Railroad Company [chartered September 29, 1885], which had been acquired at judicial sale on February 1, 1896, by R. A. Lancaster, and others, a committee representing the bondholders of that company, hereinafter referred to as the purchasing committee. Incorporation of the Georgia Midland Railway was effected by the purchasing committee through filing articles of incorporation dated March 27, 1896, with the secretary of state of Georgia on March 27, 1896, and the issuance of a certificate of incorporation on the same date. The title of the purchasing committee in the property was conveyed to the Georgia Midland Railway by a deed dated March 31, 1896. The company was formally organized on March 31, 1896.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The property owned by the Georgia Midland Railway on the date of valuation, comprised a line of railroad 99.452 miles in length, extending from Columbus northeastwardly to McDonough, Ga., all of which had been constructed by The Georgia Midland & Gulf Railroad Company and had been acquired at organization by the Georgia Midland Railway, through purchase after judicial sale, as previously explained.

HISTORY OF CORPORATE FINANCING