Wikipedia:WikiProject Trains/ICC valuations/Tuckaseegee and Southeastern Railway

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The railroad of the Tuckaseegee and Southeastern Railway Company, hereinafter called the carrier, is a single-track, standard gage, steam railroad, located in the southern part of North Carolina. The main line extends southeasterly from Sylva to East La Porte, a distance of 12.179 miles. The carrier also owns 1.073 miles of yard tracks and sidings. Its road thus embraces 13.252 miles of all tracks owned and used. This is an industrial railroad operated in the interest of the Blackwood Lumber Company, owners of a large sawmill and extensive timber holdings in this region served by the carrier.

CORPORATE HISTORY

The carrier was incorporated August 6, 1920, under general laws of North Carolina, to acquire, maintain, and operate a railroad then under construction by the Blackwood Lumber Company. Date of organization was August 28, 1920.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The road, all owned, 12.179 miles, extending from Sylva to East La Porte, N. C., was built by the Blackwood Lumber Company for account of the carrier. Construction was begun in July 1920, and the road was opened for operation July 1, 1932[sic]. Acquisition of the road by the carrier was authorized by us June 7, 1922 (71 I.C.C. 818).

HISTORY OF CORPORATE FINANCING