The carrier is a corporation of the State of Virginia, having its principal office at Richmond, Va. It is controlled by the Richmond-Washington Company, a holding company, through ownership of a majority of the capital stock. The State of Virginia, a minority stockholder, has the statutory right of appointing one director. The records do not indicate that the carrier controls any common-carrier corporation.
The Richmond-Washington Company is a New Jersey corporation. It does not own or operate any common-carrier property. In addition to controlling the carrier it also owns the entire capital stock of the Washington Southern. The capital stock of the Richmond-Washington Company is held in equal parts by the Pennsylvania Railroad Company, The Baltimore and Ohio Rail Road Company, The Chesapeake and Ohio Railway Company, Seaboard Air Line Railway Company, Atlantic Coast Line Railroad Company, and Southern Railway Company.
The property of the carrier has been operated by its own organization during its entire life.
The carrier was incorporated by a special act of the Legislature of the State of Virginia, approved February 25, 1834. Under its charter, the carrier was exempt from city, county, and State taxation, and was granted other special privileges. By an act approved March 14, 1912, the tax exemption and other special privileges were revoked and the company became subject to the general railroad laws of Virginia.
The owned mileage of the carrier, 81.92 miles, was acquired by construction. The years when the various portions of the line were constructed are indicated in the following table:
|Richmond to Hazel Run, 1836||60.00|
|Hazel Run to Fredericksburg, 1837||1.00|
|Fredericksburg to Aquia Creek, 1842||14.00|
|Aquia Creek to Quantico, 1872||6.70|
|Acca to Pier 5 of the James River Bridge, 1890||3.27|
|Total recorded mileage||84.97|
|Difference between total recorded mileage and mileage inventoried as of date of valuation||3.05|
|Mileage inventoried as of date of valuation||81.92|
During the years 1902 to 1907 the main line was reconstructed and practically the entire line double-tracked, and during the years 1910 and 1911 the road between Acca, Va., and the James River Bridge was reconstructed.
In the construction of the original road, and in reconstructing and double-tracking, the carrier employed individuals, firms, and corporations, as contractors. However, the details of the work performed by the contractors were not ascertained.
|Solely used, but not owned, leased from the Connection Company:|
|Tracks, 1.216 miles in the city of Richmond, Va., leased under an agreement dated Aug. 1, 1866, until revoked, between the owner, the carrier, and the Richmond and Petersburg Railroad Company; annual rental based on traffic transported over the leased tracks, with a guarantee of 8 per cent per annum on the amount of paid-up capital stock.||$50,453.02|
|Jointly used but not owned, owned by Atlantic Coast Line Railroad Company:|
|Bridge over the James River used in connection with Byrd Street Station facilities; annual rental, 2 per cent per annum on valuation||2,711.83|
In addition to the above-described facilities, the carrier has certain trackage rights over that part of the James River branch owned by the Atlantic Coast Line Railroad Company, and extending from the center of the bridge over the James River to Clopton, a distance of 4.55 miles. These rights had been acquired under the terms of operating agreements dated December 3, 1890, and December 22, 1890, which provided that the carrier shall pay to the owner 50 per cent of the revenues accruing to the entire James River branch (Acca to Clopton, 7.82 miles) and charge to the owner 50 per cent of the expenses of the entire branch. The rental accrued and charged to income for the year ended on date of valuation was $43,573.56.
|Original data source:||Valuation Reports Vol. 31 pp 266-267, 281-282|
Interstate Commerce Commission
Although published in 1930, the report is "...as of date of valuation" which was 30 June, 1916