Wikipedia:WikiProject Trains/ICC valuations/McRae Terminal Railway

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The railroad of the McRae Terminal Railway, hereinafter called the McRae Terminal, is located within the State of Georgia and extends from Helena to McRae. The railroad is a terminal switching line, its entire trackage of 1.748 miles consisting of yard tracks and sidings. A portion of the rails and fastenings on this property is owned by the Seaboard.

CORPORATE HISTORY

The McRae Terminal was incorporated November 22, 1905, under the general laws of the State of Georgia, for the purpose of constructing and operating a railroad from McRae to a point on the Seaboard's railroad, and afford freight terminal facilities at McRae for the Seaboard. The date of organization of the McRae Terminal was December 2, 1905.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The road owned by the McRae Terminal on the date of valuation, consisting of 1.748 miles of railroad extending from a connection with the railroad of the Seaboard at Helena to McRae, had been acquired by construction which commenced on August 26, 1905, and which was completed on September 22, 1906. The work was performed by the forces of the McRae Terminal.

The McRae Terminal leases from the Seaboard 6,010 feet of rails and fastenings laid in its road under conditions more fully explained in the chapter devoted to leased railway property.

HISTORY OF CORPORATE FINANCING