Wikipedia:WikiProject Trains/ICC valuations/Goldsboro Union Station Company

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The property of Goldsboro Union Station Company, hereinafter called the carrier, consists of standard-gauge terminal tracks and a brick passenger station, with lands, located at Goldsboro, N. C., and used as a joint passenger station by certain tenant carriers named below. The main track comprises 0.38 mile and yard tracks comprise 0.97 mile, making a total of 1.35 miles. The carrier owns no equipment. In Appendix 1 will be found a general description of the property of the carrier.

Jointly used property.—The carrier makes no joint use of other carrier property. Being a joint passenger terminal, the carrier's entire property is jointly used by three tenant companies, namely, Southern Railway Company, Atlantic Coast Line Railroad Company, and Norfolk Southern Railroad Company. Further details as to the terms of this joint use are given in Appendix 2 in connection with the explanation of gross and net earnings.

Corporate history.—The carrier was incorporated June 4, 1908, under the general laws of North Carolina, by the Southern Railway Company, the Atlantic Coast Line Railroad Company, and the Norfolk and Southern Railway Company, later reorganized as the Norfolk Southern Railroad Company. Control is now vested in the three tenant companies through ownership of equal shares of the capital stock. Further details as to the corporate history are given in Appendix 2.

CORPORATE HISTORY

The carrier was incorporated June 4, 1908, by the Southern Railway Company, the Atlantic Coast Line Railroad Company, and Norfolk and Southern Railway Company. Operations were commenced April 1, 1909, with the Southern Railway Company and the Atlantic Coast Line Railroad Company as tenant companies. In order to use the carrier's property on the same basis as those two tenants, the Norfolk and Southern Railway Company on July 19, 1909, purchased from the Southern Railway Company and the Atlantic Coast Line Railroad Company $5,000 of the carrier's capital stock, at par, this being one-third of the total $15,000 issued, and $28,000 of the carrier's first-mortage bonds, this being one-third of the total $84,000 issued. The price paid for the bonds was 92.91, this being [?] Further, in order to put the Norfolk and Southern Railway Company on a complete equality with the other two companies, it also paid interest on the purchase price of both stock and bonds to the date of its purchase. The Norfolk and Southern Railway Company thus acquired a one-third interest in the carrier, with the Southern Railway Company and the Atlantic Coast Line Railroad Company each holding a like one-third interest. On the reorganization of the Norfolk and Southern Railway Company in 1910, its interest in the carrier passed to its successor, the Norfolk Southern Railroad Company.