Wikipedia:WikiProject Trains/ICC valuations/Georgia Southern and Florida Railway

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The railroad of the Georgia Southern and Florida Railway Company, hereinafter called the carrier, is a single-track standard-gauge steam railway, running from Macon, Ga., in a southeasterly direction to Valdosta, Ga., a distance of about 150 miles. At Valdosta the road divides into two main lines, both running in a southeasterly direction to tidewater on the Atlantic Ocean in Florida, the northerly line, about 113 miles long, terminating at Jacksonville, Fla., on the St. Johns River, and the southerly line, about 135 miles long, at Palatka, Fla., ending at the head of deep-water navigation on the St. Johns River. The mileage owned and operated is as follows:

CORPORATE HISTORY

The predecessor companies.—The carrier has succeeded in whole or in part to the property and rights of two important predecessor companies, namely, the Georgia Southern and Florida Railroad Company, and the Atlantic, Valdosta and Western Railway Company. In addition to these two companies it also succeeded to the rights of two other minor companies, the air-line companies, so called, explained later in this report. Neither of these two minor companies had acquired any property and nothing further is known of them.

Atlantic, Valdosta & Western Railway Company.—No records of this company were found. The following information has been taken entirely from the annual returns of the company to the commission and from the records of the successor company.

The Atlantic, Valdosta and Western Railway Company was incorporated under the general laws of Georgia, November 1, 1897, and was organized November 15, the same year. The road extended from Valdosta, Ga., to Jacksonville, Fla., a distance of about 118 miles. About 71 miles of this line from Haylo to Crawford, Fla., was put into operation in April, 1898. The whole line was put into operation in June, 1899. The Atlantic, Valdosta and Western Railway Company operated this line until July 1, 1902, and from that date until October, 1902, the carrier operated the company as an agent.

On October 16, 1902, the Atlantic, Valdosta and Western Railway Company sold all its equipment and its line between Valdosta and a point 3,000 feet northwest of Grand Crossing, near Jacksonville, Fla., consisting of about 106.61 miles of road together with all rights and franchises belonging to that part of the line to the carrier. The remaining portion of its line and the franchises connected therewith were sold October 15, 1902, to the St. Johns River Terminal Company.

The Atlantic, Valdosta and Western Railway Company had outstanding capital liabilities at the time its property and franchises were sold as follows:

The Georgia Southern and Florida Railroad Company.—The Georgia Southern and Florida Railroad was organized under a special Georgia charter, on September 28, 1881, to build a road from Macon through either Homerville or Dupont, Fla., to the Florida State line. The Georgia Southern and Florida Railroad was authorized by a special act of October 16, 1885, to build from Macon through Valdosta to the Florida State line. The company was formally organized September 23, 1886. Two separate air-line railroad companies were chartered and organized, the one to build from Macon, Ga., independently or through and connecting with the Georgia Southern and Florida Railroad to the Florida State line and the other to build a line from the Georgia State line into Florida connecting with the line to Macon, Ga. The first of these air lines [DuPont, Decatur, Alabama and Florida Air-Line Railroad???] was simply abandoned and the latter [Macon and Florida Air Line Railroad (inc. 1884?)] was consolidated with the Georgia Southern and Florida Railroad on August 27, 1889. Nothing further is known of these companies.

The Georgia Southern and Florida Railroad's road extended from Macon, Ga., to Palatka, Fla., a distance of about 285 miles. It was put into operation March 1, 1890. It was built by the Macon Construction Company, hereinafter called the construction company. The construction company was organized by officers of the Georgia Southern and Florida Railroad. The construction company and the Georgia Southern and Florida Railroad went into the hands of a receiver March 1, 1891. At the foreclosure sale April 2, 1895, the property of the Georgia Southern and Florida Railroad was bought by bondholders and on May 22, 1895, was transferred to the carrier, which had been incorporated for the purpose of taking this property over.

At the date of transfer to the carrier, the Georgia Southern and Florida Railroad had authority to issue capital stock to the amount of $4,275,000, but none of this stock was ever issued. The stock was to have been issued to the construction company at the rate of $15,000 a mile for constructing the road