Wikipedia:WikiProject Trains/ICC valuations/Point Pleasant Bridge Company
Interstate Commerce Commission, Valuation Reports, Volume 28
The Point Pleasant Bridge Company
[edit]Location and General Description of Property
[edit]The property of The Point Pleasant Bridge Company, likewise leased to and operated by the Kanawha & Michigan, consists of a bridge and tracks thereon extending from the north end of the Ohio River bridge in Ohio to the south end of this bridge in Point Pleasant, W. Va., a distance of 0.744 miles.
Introductory
[edit]The Point Pleasant Bridge Company is a corporation of the State of West Virginia, having its principal office at Columbus, Ohio. The accounting records of this company were not obtained. Therefore, no information can be given from the accounts regarding its financial dealings, corporate operations, or investment. However, certain data, indicated below, were taken from the report of the Kanawha & Michigan on its corporate history and from the records of that company.
The records reviewed indicate that The Point Pleasant Bridge Company is controlled by the Kanawha & Michigan through ownership of its entire outstanding capital stock. On the other hand, the records reviewed do not indicate that the company, itself, controlled any common-carrier corporation.
The property of The Point Pleasant Bridge Company has been operated from June 25, 1886, to February 19, 1889, by The Kanawha and Ohio Railway Company from February 19, 1889, to April 25, 1890, by receiver, and from April 25, 1890, to December 31, 1917, by the Kanawha & Michigan. On January 1, 1918, the property of The Point Pleasant Bridge Company was taken over for operation by the United States Railroad Administration as a part of the system of the Kanawha & Michigan, and it is so operated on date of valuation.
Corporate History
[edit]The Point Pleasant Bridge Company was incorporated June 18, 1886, under the general laws of the State of West Virginia, for the stated purpose of constructing or purchasing and maintaining a bridge over the Ohio River at Point Pleasant, W. Va.
Development of Fixed Physical Property
[edit]The property of the Point Pleasant Bridge Company consists of a railroad bridge and approaches, across the Ohio River at Point Pleasant, W. Va., including 0.744 mile of track extending from a point near Kanauga, Ohio, to Point Pleasant, W. Va., all of which was acquired by purchase. The construction of this property was begun by The Point Pleasant and Ohio River Railroad Company and was completed for operation in 1885 by a second company of that name, not a predecessor, from which company the property was purchased on June 25, 1886.
Leased Railway Property
[edit]The property of The Point Pleasant Bridge Company was solely operated by the Kanawha & Michigan on December 31, 1917, by control through ownership of all the outstanding capital stock. From January 1, 1918, to date of valuation, the property of this company has been operated by the United States Railroad Administration as a part of the system of the Kanawha & Michigan.