Wikipedia:WikiProject Trains/ICC valuations/Morehead and North Fork Railroad

http://books.google.com/books?id=ts1DAAAAIAAJ

The railroad of the Morehead and North Fork Railroad Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in the eastern part of Kentucky. The owned mileage extends in a southeasterly direction from Morehead to Redwine, a distance of 24.219 miles. The carrier also owns and uses 3.861 miles of yard tracks and sidings. Its road thus embraces 28.080 miles of all tracks owned.

CORPORATE HISTORY

The carrier was incorporated September 27, 1905, under the general laws of the State of New Jersey. The date of organization of the carrier was November 27, 1905.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The 24.219 miles of road owned by the carrier was acquired through construction, which was performed under contract by the Snyder Construction Company. The construction work was begun in June, 1906, and the road was completed and placed in operation by sections during September, 1907, and November, 1908. The records reviewed do not indicate that the Synder Construction Company was affiliated with the carrier. In connection with the construction of the road, the Synder Construction Company purchased at foreclosure sale in June, 1906, the physical property formerly owned by the Morehead & West Liberty Railroad Company, a corporation that has gone out of existence. The purchased property consisted of about 3 miles of graded roadbed near Morehead, Ky., together with some rails and ties. The carrier reports that the right of way on which the purchased property was located had reverted to the former owners and had to be reacquired.

HISTORY OF CORPORATE FINANCING