Wikipedia:WikiProject Trains/ICC valuations/Big Sandy and Cumberland Railroad

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LOCATION AND GENERAL DESCRIPTION OF PROPERTIES

The railroad operated by the Big Sandy and Cumberland Railroad Company, hereinafter called the carrier, is a single-track steam railroad, situated in West Virginia, Kentucky, and Virginia, extending from a connection with the Norfolk and Western Railway at Devon, W. Va., southwardly through Kentucky to Grundy, Va., a distance of 33.173 miles. The entire road is of 42-inch gauge, but about 3.1 miles, from Devon southward, is equipped with a third rail for handling standard-gauge equipment. The rail and fastenings on the entire line are leased from the Norfolk and Western Railway Company. The owned mileage, 4.473 miles in all, consists of 4.421 miles of road situated at various points between the Kentucky-Virginia State line and Grundy, Va., and 0.052 mile of road at Middle Elk, Ky. The latter mileage is constructed on leased land. The carrier is an industrial railroad. It reports that for the year ended December 31, 1917, it handled 94,093 tons of freight, of which 82,445 tons represented products of forests, most of which was received from the W. M. Ritter Lumber Company, the controlling interest.

The railroad of the Knox Creek Railway Company, hereinafter called the Knox Creek Railway, which is leased to and operated by the carrier, extends from the West Virginia-Kentucky State line to a point 1.419 miles south, where connection is made with the railroad of the W. M. Ritter Lumber Company. This mileage is equipped with a third rail for handling standard-gauge equipment. The Knox Creek Railway also owns yard and side tracks as shown in the trackage table in Appendix 1. The remaining mileage operated, 27.281 miles, is owned by the W. M. Ritter Lumber Company, a noncarrier. This mileage extends from Devon, W. Va., to the West Virginia-Kentucky State line, 0.052 mile, from a connection in Kentucky with the Knox Creek Railway to the Kentucky-Virginia State line; 6.244 miles, and at various points between the Kentucky-Virginia State line and Grundy, Va., 20.985 miles. A small part of this mileage is equipped with a third rail for handling standard-gauge equipment. Station facilities and sidings of the Norfolk and Western Railway Company at Devon, W. Va., are used, as are various buildings of the W. M. Ritter Lumber Company along the line of route.

The mileage operated from 1903 to April 1, 1916, comprised leased road only.

CORPORATE HISTORY

The carrier was incorporated January 25, 1900, under the general laws of the State of Virginia.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the carrier amounting to 4.473 miles, was acquired by it through construction, which was completed on April 1, 1916. The construction work was performed under contract by the W. M. Ritter Lumber Company. All rails and fastenings placed in the owned and leased mileage are leased from the Norfolk and Western Railway Company.

HISTORY OF CORPORATE FINANCING

CORPORATE HISTORY

The Knox Creek Railway was incorporated on July 3, 1912, under the general laws of the State of Kentucky.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The 1.419 miles of railroad owned by this company was acquired by condemnation proceedings on May 13, 1913. Prior to 1913, this mileage had been constructed by the W. M. Ritter Lumber Company on lands leased from others, and constituted part of the property operated by the carrier under lease from the W. M. Ritter Lumber Company. When the lease covering the lands on the 1.419 miles of railroad expired, the owners refused to renew the lease agreement and took over the lands with the improvements thereon. The Knox Creek Railway was then incorporated for the purpose of acquiring the property by condemnation, which was effected on May 13, 1913. The rails and fastenings in the track are leased from the Norfolk and Western Railway Company.

HISTORY OF CORPORATE FINANCING