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Atlantic and North Carolina Railroad Company, General Records


The Atlantic and North Carolina Railroad Company (ANCRR) was incorporated by the 1852 General Assembly with a capitalization of nine hundred thousand dollars. The company was formally chartered in July of 1854, and its road was completed in 1858. The service area of the ANCRR ran from Morehead City to Goldsboro, where it connected with tracks of the North Carolina Railroad Company (NCRR). Like the ANCRR, the NCRR was an enterprise whose principal stock was owned by the state. In September of 1989, the NCRR acquired the ANCRR through a merger of the two companies. Since the merger, the new organization has been known as the North Carolina Railroad Company.Minutes of stockholders meetings (190 ... (more below)

Title

Atlantic and North Carolina Railroad Company, General Records

Collection Number

36.1

Date(s)

1858 - 1970

Language

English

Physical Description
Cubic feet
Approx. 22
includes 15 cu. ft. (15 record center boxes), 4.6 cu. ft. (23 volumes), 4 items, and 2 cu. ft. (5 fiberdex boxes)
Physical Description
Cubic feet
22.00
Fibredex boxes
5.00
Items
4.00
Records center boxes
15.00
Volumes
41.00
Abstract

The Atlantic and North Carolina Railroad Company (ANCRR) was incorporated by the 1852 General Assembly with a capitalization of nine hundred thousand dollars. The company was formally chartered in July of 1854, and its road was completed in 1858. The service area of the ANCRR ran from Morehead City to Goldsboro, where it connected with tracks of the North Carolina Railroad Company (NCRR). Like the ANCRR, the NCRR was an enterprise whose principal stock was owned by the state. In September of 1989, the NCRR acquired the ANCRR through a merger of the two companies. Since the merger, the new organization has been known as the North Carolina Railroad Company.

Minutes of stockholders meetings (1904-1928), annual reports (1905-1949), statements of operations (1938-1939), certificates of stock, accounting ledgers, correspondence, leases, agreements, maps, board minutes, and other general administrative and financial records.

Physical Location

For current information on the location ofthese materials, please consult the Public Services Branch, State Archives of North Carolina.

Creator

Atlantic and North Carolina Railroad Company.

Repository

State Archives of North Carolina


Arranged by material type.


Available for research.


Copyright is retained by the authors of these materials, or their descendants, as stipulated by United States copyright law (Title 17 US Code). Individual researchers are responsible for using these materials in conformance with copyright law as well as any donor restrictions accompanying the materials.


Processed by Don Nichols, July, 1965

Collection Overview expanded by Tom Vincent, August, 2003

Encoded by Druscilla R. Simpson, April, 2000

Encoding updated by Ashley Yandle, April, 2005


The Atlantic and North Carolina Railroad Company (ANCRR) was incorporated by the 1852 General Assembly with a capitalization of nine hundred thousand dollars. Initially, the board of directors consisted of eight members elected annually by the company's stockholders. The 1854-1855 legislature raised the capital stock to $1.6 million and authorized the state to purchase two-thirds of it. This act also made the ANCRR subject to general management by a board of twelve directors. Eight of the members were appointed by the Board of Internal Improvements, a state agency headed by the governor. The four remaining directors were elected by the private shareholders.

The company was formally chartered in July of 1854, and its road was completed in 1858. The service area of the ANCRR ran from Morehead City to Goldsboro, where it connected with tracks of the North Carolina Railroad Company (NCRR). Like the ANCRR, the NCRR was an enterprise whose principal stock was owned by the state.

During the 1860s, stockholders of the ANCRR made several efforts to consolidate their company with the NCRR, but failed. Though under economic distress, the ANCRR's board of directors continued to operate the railway until June of 1881. At that time, the ANCRR's right of way and other operating assets were leased to the Midland Railroad Company. Meanwhile, the NCRR also leased its properties and tracks, first to the Richmond and Danville Railroad, and then to the Southern Railway for a term of ninety-nine years, from 1895 to 1994.

ANCRR's assets remained under Midland's operation until August of 1904, when they passed into the hands of the Goldsboro, New Bern, and Morehead City Railroad Company. By lease and consolidation in 1913, the ANCRR's properties came under control of the Norfolk and Southern Railroad Company. This lease was cancelled by the board of directors in 1934, and properties were under the full direction of the state from May of 1936 to August of 1939. At that time, the ANCRR was leased to a newly formed company, the Atlantic and East Carolina Railway Company (AECR) for a term of twenty-five years. In turn, that company sub-leased the line to its parent company, the Southern Railway Company. That lease agreement was amended in 1954, changing the year of expiration to 1994, the same year as the expiration of the NCRR lease. In 1957 the AECR became a wholly-owned subsidiary of the Southern Railway Corporation, which itself became a majority-owned subsidiary of the Norfolk-Southern Corporation in 1982.

In the meantime, the General Assembly of 1925 had transferred certain duties heretofore exercised by the Board of Internal Improvements to the governor and Council of State. Under provisions of the act, the governor was charged with appointing agents or directors in railroads and other works of internal improvement in which the state had an economic interest. As established in 1854-1855, the board of directors of the ANCRR continued to consist of eight members representing the state and four representing individual stockholders.

Under the Executive Organization Act of 1971, the board of directors of the ANCRR was placed under the general management of the Department of Transportation and Highway Safety. By the terms of the transfer, however, the board retained its independence and its previously assigned statutory powers. Through legislation passed in 1975, that department was reorganized and renamed the Department of Transportation. The General Assembly of that year also authorized the department to make a study of the ANCRR and the NCRR and the state's interest in both companies.

In September of 1989, the NCRR acquired the ANCRR through a merger of the two companies. Historically, each railroad has had varied experiences of lease and consolidation. Yet both were similar in their corporate structures, as well as in their patterns of ownership and operation. The two corporate charters were combined with few changes. Under terms of the new charter, however, the board of directors was increased from twelve to fifteen members. The governor appointed ten of these in staggered terms totaling three years each. The board's president, secretary, and treasurer were to be elected from among these appointments. The private shareholders selected the board's other five directors, including the vice president, assistant secretary, and assistant treasurer.

Since the merger, the new organization has been known as the North Carolina Railroad Company. Like the old ANCRR, the merged company continues to lease all its properties to the Southern Railway Company and its subsidiary, the Atlantic and East Carolina Railway Company. Both of these companies fall under the umbrella of the Norfolk-Southern Corporation.


The Atlantic and North Carolina Railroad Company (ANCRR) was incorporated by the 1852 General Assembly with a capitalization of nine hundred thousand dollars. Initially, the board of directors consisted of eight members elected annually by the company's stockholders. The 1854-1855 legislature raised the capital stock to $1.6 million and authorized the state to purchase two-thirds of it. This act also made the ANCRR subject to general management by a board of twelve directors. Eight of the members were appointed by the Board of Internal Improvements, a state agency headed by the governor. The four remaining directors were elected by the private shareholders.

The company was formally chartered in July of 1854, and its road was completed in 1858. The service area of the ANCRR ran from Morehead City to Goldsboro, where it connected with tracks of the North Carolina Railroad Company (NCRR). Like the ANCRR, the NCRR was an enterprise whose principal stock was owned by the state.

During the 1860s, stockholders of the ANCRR made several efforts to consolidate their company with the NCRR, but failed. Though under economic distress, the ANCRR's board of directors continued to operate the railway until June of 1881. At that time, the ANCRR's right of way and other operating assets were leased to the Midland Railroad Company. Meanwhile, the NCRR also leased its properties and tracks, first to the Richmond and Danville Railroad, and then to the Southern Railway for a term of ninety-nine years, from 1895 to 1994.

ANCRR's assets remained under Midland's operation until August of 1904, when they passed into the hands of the Goldsboro, New Bern, and Morehead City Railroad Company. By lease and consolidation in 1913, the ANCRR's properties came under control of the Norfolk and Southern Railroad Company. This lease was cancelled by the board of directors in 1934, and properties were under the full direction of the state from May of 1936 to August of 1939. At that time, the ANCRR was leased to a newly formed company, the Atlantic and East Carolina Railway Company (AECR) for a term of twenty-five years. In turn, that company sub-leased the line to its parent company, the Southern Railway Company. That lease agreement was amended in 1954, changing the year of expiration to 1994, the same year as the expiration of the NCRR lease. In 1957 the AECR became a wholly-owned subsidiary of the Southern Railway Corporation, which itself became a majority-owned subsidiary of the Norfolk-Southern Corporation in 1982.

In the meantime, the General Assembly of 1925 had transferred certain duties heretofore exercised by the Board of Internal Improvements to the governor and Council of State. Under provisions of the act, the governor was charged with appointing agents or directors in railroads and other works of internal improvement in which the state had an economic interest. As established in 1854-1855, the board of directors of the ANCRR continued to consist of eight members representing the state and four representing individual stockholders.

Under the Executive Organization Act of 1971, the board of directors of the ANCRR was placed under the general management of the Department of Transportation and Highway Safety. By the terms of the transfer, however, the board retained its independence and its previously assigned statutory powers. Through legislation passed in 1975, that department was reorganized and renamed the Department of Transportation. The General Assembly of that year also authorized the department to make a study of the ANCRR and the NCRR and the state's interest in both companies.

In September of 1989, the NCRR acquired the ANCRR through a merger of the two companies. Historically, each railroad has had varied experiences of lease and consolidation. Yet both were similar in their corporate structures, as well as in their patterns of ownership and operation. The two corporate charters were combined with few changes. Under terms of the new charter, however, the board of directors was increased from twelve to fifteen members. The governor appointed ten of these in staggered terms totaling three years each. The board's president, secretary, and treasurer were to be elected from among these appointments. The private shareholders selected the board's other five directors, including the vice president, assistant secretary, and assistant treasurer.

Since the merger, the new organization has been known as the North Carolina Railroad Company. Like the old ANCRR, the merged company continues to lease all its properties to the Southern Railway Company and its subsidiary, the Atlantic and East Carolina Railway Company. Both of these companies fall under the umbrella of the Norfolk-Southern Corporation.


[Identification of item], 36.1, Atlantic and North Carolina Railroad Company, General Records, State Archives of North Carolina, Raleigh, NC, USA.


Transferred from the Atlantic and North Carolina Railroad Company, Kinston, NC, July 6, 1965.


Additional information on topics found in this collection may be found in the Manuscript and Archives Reference System (MARS)  http://www.ncarchives.dcr.state.nc.us.


Minutes of stockholders meetings (1904-1928), annual reports (1905-1949), statements of operations (1938-1939), certificates of stock, accounting ledgers, correspondence, leases, agreements, maps, board minutes, and other general administrative and financial records.

The bulk of these papers cover the years 1939 to 1975. The collection includes audits and annual reports for the majority of those years. The minutes of the annual stockholders' meeting also covers the years 1939 through 1975, but there are significant gaps in the coverage.

The collection contains several hundred agreements. Many of them pertain to leases of railroad lands and construction and improvements on railroad land. These agreements are between the railroad and individuals, business, municipalities, and branches of the United States Armed Forces.

Correspondence is interfiled throughout the collection, usually by subject. Subjects covered include, but are not limited to: local and state taxes, leases and agreements, loans, right-of-way issues and mundane business matters such as ordering office supplies and paying phone bills. One item of interest is the transcript of a 1909 N.C. Transportation Commission hearing to answer citizens request for a new passenger depot in New Bern, N.C. [Box 7, Folder 19]

While most of the collection concerns real estate, regulatory, legal, and tax issues, there are several reports on the conditions of the railroad's locomotives and roadbeds during the 1940's. These offer a glimpse into the actual "train and tracks" aspect of running of a railroad. [Box 6, Folder 28 and Box 13, Folder 30] Also of interest are the repairs to the Trent River Drawbridge, destroyed by Hurricane Ione in 1955. [Box 8, Folder 8 and Box 12, Folder 3]

Several boxes in the collection concern Interline Freight Accounts. These are invoices and disputes about the A & NC RR paying other railroads for goods damaged while being shipped on the A & NC RR. They offer examples of the letterheads of many of the major eastern United States railroads during the 1940s. (Tom Vincent, August 17, 2003)

Arranged by material type.


Minutes of stockholders meetings (1904-1928), annual reports (1905-1949), statements of operations (1938-1939), certificates of stock, accounting ledgers, correspondence, leases, agreements, maps, board minutes, and other general administrative and financial records.

The bulk of these papers cover the years 1939 to 1975. The collection includes audits and annual reports for the majority of those years. The minutes of the annual stockholders' meeting also covers the years 1939 through 1975, but there are significant gaps in the coverage.

The collection contains several hundred agreements. Many of them pertain to leases of railroad lands and construction and improvements on railroad land. These agreements are between the railroad and individuals, business, municipalities, and branches of the United States Armed Forces.

Correspondence is interfiled throughout the collection, usually by subject. Subjects covered include, but are not limited to: local and state taxes, leases and agreements, loans, right-of-way issues and mundane business matters such as ordering office supplies and paying phone bills. One item of interest is the transcript of a 1909 N.C. Transportation Commission hearing to answer citizens request for a new passenger depot in New Bern, N.C. [Box 7, Folder 19]

While most of the collection concerns real estate, regulatory, legal, and tax issues, there are several reports on the conditions of the railroad's locomotives and roadbeds during the 1940's. These offer a glimpse into the actual "train and tracks" aspect of running of a railroad. [Box 6, Folder 28 and Box 13, Folder 30] Also of interest are the repairs to the Trent River Drawbridge, destroyed by Hurricane Ione in 1955. [Box 8, Folder 8 and Box 12, Folder 3]

Several boxes in the collection concern Interline Freight Accounts. These are invoices and disputes about the A & NC RR paying other railroads for goods damaged while being shipped on the A & NC RR. They offer examples of the letterheads of many of the major eastern United States railroads during the 1940s. (Tom Vincent, August 17, 2003)


  • Atlantic and East Carolina Railway Company.
  • Atlantic and North Carolina Railroad Company.
  • Norfolk Southern Railroad Company.
  • North Carolina. General Assembly.
  • North Carolina. Utilities Commission.
  • United States. Interstate Commerce Commission.
  • Corporate minutes.
  • Files (Records)
  • Financial statements.
  • Infrastructure (Economics).
  • Leases
  • Public Works
  • Railroad companies.
  • Railroads--Mergers.
  • Railroads--North Carolina--Finance.
  • Railroads--North Carolina--Maps.
  • Stockholders' meetings.

Box: 1  
Stockholders' Meetings
September 1, 1904-August 9, 1928

Physical Description
Volumes
17.00

Box: 2  
Annual Reports to Stockholders, , <unitdate type="inclusive" calendar="gregorian" era="ce">1910</unitdate>, <unitdate type="inclusive" calendar="gregorian" era="ce">1915-1923</unitdate>, <unitdate type="inclusive" calendar="gregorian" era="ce">1925-1929</unitdate>, <unitdate type="inclusive" calendar="gregorian" era="ce">1931-1934</unitdate>
1905-1908 1910 1915-1923 1925-1929 1931-1934

Descriptive Information
Physical Description
One volume
Physical Description
Volumes
1.00

Box: 3  
Annual Reports to the Interstate Commerce Commission, , <unitdate type="inclusive" calendar="gregorian" era="ce">1939-1947</unitdate>
1935 1939-1947

Descriptive Information
Physical Description
Ten volumes
Physical Description
Volumes
10.00

Box: 4  
Annual Reports to the North Carolina Utilities Commission
1944-1949

Descriptive Information
Physical Description
Six volumes
Physical Description
Volumes
6.00

Physical Description
Volumes
1.00

18969  
<unitdate type="inclusive" calendar="gregorian" era="ce">January, 1938-August, 1939</unitdate>
January, 1938-August, 1939

Descriptive Information
Physical Description
One volume.
Physical Description
Volumes
1.00

Scope and Content

Showing revenues, income, and general balance sheet.

Box: 5  
Books 1 and 2

Box: 6  
Book 3

Box: 6.1  
Book 4

Box: 7  
Books 5 and 6

Box: 8  
Book 7

Box: 9  
Books 8 and 9