Wikipedia:WikiProject Trains/ICC valuations/Georgia and Alabama Terminal Company

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The railroad of the Georgia and Alabama Terminal Company, hereinafter called the Georgia and Alabama Terminal, is a single-track line within the State of Georgia, extending from Bridge Junction to Hutchinson's Island, near Savannah, a distance of 2.424 miles. In addition to tracks, this company owns extensive wharf property and warehouses.

CORPORATE HISTORY

The Georgia and Alabama Terminal was incorporated November 9, 1898, under the general laws of the State of Georgia for the purpose of constructing and operating a railroad on Hutchinson Island, opposite Savannah, Ga. The date of organization of the Georgia and Alabama Terminal was not disclosed by the records reviewed.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The property owned by the Georgia and Alabama Terminal on the date of valuation had been acquired by construction, which was commenced late in the year 1898, and which it appears was completed prior to May, 1901, but subsequent to July 1, 1900. Additional construction was done during the period from July 1, 1901, to date of valuation.

The construction of the original property, comprising its main line extending from a connection with the railroad of the Seaboard at a point near the Hutchinson Island end of the Savannah River Bridge to the terminals on Hutchinson Island, 2.424 miles, and certain other tracks and terminals, was performed by the Georgia Construction Company, an affiliated company, hereinafter referred to as the Construction Company, under contract dated December 20, 1898, and agreement supplemental thereto. This contract provided for the construction of the property, complete, including right of way and other lands. The construction company was to receive as compensation the stock and bonds of the Georgia and Alabama Terminal. The additional tracks and terminal structures were constructed by the Seaboard Air Line Railway and the Seaboard with their own forces.

HISTORY OF CORPORATE FINANCING