Wikipedia:WikiProject Trains/ICC valuations/Memphis and Charleston Railway

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The railroad of the Memphis and Charleston Railway Company, herein called the Memphis and Charleston, is a single-track road located wholly within the State of Mississippi and extends from the Alabama-Mississippi State line to the Tennessee-Mississippi State line, connecting with the Southern at each end. The property embraces 34.130 miles of first main and 12.037 miles of yard and side track, a total of 46.167 miles of all tracks. In addition this company owns jointly with others 0.222 mile of yard and side track which the Southern uses jointly with the other joint owners.

MEMPHIS AND CHARLESTON

INTRODUCTORY

The Memphis and Charleston is a corporation of the State of Mississippi. Its principal office is located in Washington, D. C. It is controlled by the Southern through ownership of its entire outstanding capital stock. Its property has always been operated by the Southern.

CORPORATE HISTORY

The Memphis and Charleston was incorporated February 28, 1898, under a general law of Mississippi, approved March 9, 1882. The incorporators were purchasers of the Memphis and Charleston Railroad Company and the purpose of incorporation was to acquire and own the portion of the railroad of the company last named which lay within the boundaries of the State of Mississippi.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The entire railroad owned by the Memphis and Charleston on date of valuation, extending from the Alabama-Mississippi boundary to the Tennessee-Mississippi boundary and embracing 34.130 miles of road, was acquired by purchase from the Memphis and Charleston Railroad Company.

HISTORY OF CORPORATE FINANCING