Wikipedia:WikiProject Trains/ICC valuations/Tallulah Falls Railway
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Corporate history.—The carrier was incorporated March 8, 1898, for a term of 101 years, under the general laws of the State of Georgia, for the purpose of acquiring, maintaining, and operating the property formerly owned by The Blue Ridge and Atlantic Railway[sic] Company.
The carrier was in the hands of a permanent receiver from January 27, 1908, to February 24, 1909, when the receiver was discharged, all claims having been settled. An amendment to the carrier's charter dated July 19, 1902, authorized it to issue common and preferred stock in the par value of $250,000 in each class.
The detailed facts as to the development of the fixed physical property will be found in Appendix 2.
- CORPORATE HISTORY
The following statement shows facts concerning the incorporation and succession of companies which were predecessors of the carrier:
| Name of company | Date of incorporation |
Date and manner of succession |
|---|---|---|
| The Blue Ridge and Atlantic Railroad Company. | October 24, 1887 | Sold at foreclosure on November 6, 1897, and property conveyed to the carrier by deed executed March 22, 1898. |
| Northeastern Railroad Company. | January 24, 1854 | Portion of this company's railroad extending from Cornelia to Tallulah Falls, Ga., conveyed to the Blue Ridge and Atlantic Railroad Company on February 13, 1888. |
| Blue Ridge and Atlantic Railway Company. | February 1, 1901 | Property conveyed to the carrier by deed executed on February 27, 1909. |
- DEVELOPMENT OF FIXED PHYSICAL PROPERTY
The carrier constructed 22 miles of road from Tallulah Falls, Ga., to the Georgia-North Carolina State line near Dillard, Ga. It acquired from the Blue Ridge and Atlantic Railroad Company a line 21 miles long, extending from Cornelia, Ga., to Tallulah Falls, Ga., which the latter had acquired from the Northeastern Railroad Company. This line was constructed by the Northeastern Railroad Company and its operation began in 1882. The carrier also acquired from the Blue Ridge and Atlantic Railway Company a line of 14 miles extending from the Georgia-North Carolina State line near Dillard, Ga., to Franklin, N. C. Blue Ridge and Atlantic Railway Company, the entire capital stock of which was held by the carrier, constructed this 14 miles of railroad by its own forces with funds advanced to it by the carrier, and its line was opened for operation during June, 1907.
- HISTORY OF CORPORATE FINANCING