Wikipedia:WikiProject Trains/ICC valuations/Prattsburg Railway

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The railroad of the Prattsburg Railway Corporation, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in western New York. The main line extends northeasterly from Kanona to Prattsburg, a distance of 11.524 miles. The carrier also owns 0.912 mile of yard tracks and sidings. Its road thus embraces 12.436 miles of all tracks owned and used.

[...] The carrier itself, and that corporation, together with its predecessor, total three different corporations and comprise the line of succession [...]

No.	Name	Incorporation	Succession
1.	Prattsburg Railway Corporation.	Under general laws of New York, Mar. 10, 1917.
2.	Kanona and Prattsburg Railway Company.	Under general laws of New York, Apr. 14, 1897.	Sold at foreclosure Feb. 9, 1917, after receivership begun June 3, 1916, to interests which conveyed property to 1, May 21, 1917.
3.	Kanona and Prattsburg Railroad Company.	Under general laws of New York, Apr. 2, 1886.	Sold at foreclosure Feb. 15, 1893, after receivership begun May 31, 1892, to interests which conveyed property to 2, Apr. 20, 1897.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the carrier, extending from Kanona to Prattsburg, N. Y., a distance of 11.524 miles, was all acquired by purchase, after foreclosure proceedings, from the Kanona and Prattsburg Railway Company. It was constructed by the Kanona and Prattsburg Railroad Company, the predecessor of the Kanona and Prattsburg Railway Company, during the period July 30, 1888, to October, 1889. The records reviewed do not indicate that the Kanona and Prattsburg Railway Company, the immediate predecessor of the carrier, constructed any road or other common-carrier property. There Is a difference of 0.084 mile between the mileage recorded by the carrier, 11.44 miles, and the mileage, 11.524 miles, inventoried as of date of valuation.

HISTORY OF CORPORATE FINANCING