Atlantic and North Carolina Railroad
| Company type | Railroad company |
|---|---|
| Industry | Rail transport |
| Founded | January 20, 1854 |
| Defunct | September 29, 1989 |
| Headquarters | North Carolina , United States |
| Products | Rail transport services |
Atlantic and North Carolina Railroad Company was established by the North Carolina Legislature on December 27, 1852, and formally organized on January 20, 1854. It developed a railroad track with a gauge connecting Morehead City, North Carolina and Goldsboro, North Carolina, passing through New Bern, North Carolina. Eventually, the leasehold rights were obtained by Norfolk Southern Railway Company through a consolidation process.
Early history, 1854-1900
Construction of the railroad proceeded in segments under contract and was completed before summer 1858, with operations commencing around June 1, 1858. The line experienced extensive destruction during the American Civil War, prompting the issuance of a $1.5 million First Sinking Fund Mortgage in 1868 to support restoration efforts.
In addition to the railway infrastructure, the company owned the Atlantic Hotel located in Morehead City. This establishment was erected in 1880 as a replacement for the original hotel founded by company pioneer Josiah Pender in Beaufort in 1859, which had been demolished by a hurricane in 1879.
1900-1929
From 1906 until lease termination in 1934 due to defaulted payments, the Atlantic and North Carolina Railroad line was leased to entities that preceded the Norfolk & Southern Railroad Company. Following authorization from the Interstate Commerce Commission, Norfolk Southern ceased operations on this route, after which control reverted to Atlantic and North Carolina.
1930-1955
Effective August 1, 1939, under ICC approval, the Atlantic and North Carolina Railroad Company entered into a lease agreement with the Atlantic and East Carolina Railroad Company. Chartered on June 19, 1939, Atlantic and East Carolina Railway Company possessed authority to lease and manage operations of the Atlantic and North Carolina Railroad line. The ICC sanctioned stock issuance by Atlantic and East Carolina and ratified its leasing arrangement with Atlantic and North Carolina Railroad, including amendments made in 1944, 1951, and 1954.
In 1942, ICC approval was granted for Atlantic and North Carolina Railroad to issue promissory notes to acquire a 1.43-mile spur extending from Havelock, North Carolina to the military reservation at Camp Lejeune. This spur had been constructed by Cherry Point Railroad Company, an entity formed by Atlantic and East Carolina.
Passenger operations
During this era, passenger services shifted from being operated under the Atlantic and North Carolina Railroad name to the Atlantic and East Carolina Railway following the leasing transition. A daily train service ran between Goldsboro Union Station and Morehead City. Passenger operations ceased by 1951, with the line thereafter serving freight traffic exclusively. Timetables at Goldsboro were coordinated with Southern Railway’s overnight services connecting central and western regions of North Carolina, similar in nature to the Carolina Special route segment.
Since 1955
In 1957, Southern Railway Company received ICC authorization to acquire stock ownership of Atlantic and East Carolina Railroad Company, which was then operating as lessee.
On September 29, 1989, Atlantic and North Carolina Railroad Company was merged into North Carolina Railroad Company.
The Surface Transportation Board approved an agreement whereby North Carolina Railroad Company granted Norfolk Southern Railway exclusive local and overhead freight trackage rights over its full rail corridor between Charlotte and Morehead City, North Carolina—a distance of approximately 317 miles traversing several counties. Norfolk Southern is permitted to extend trackage rights to its subsidiaries.
Norfolk Southern conferred trackage rights upon its subsidiary Atlantic and East Carolina Railway over the former Atlantic and North Carolina segment between Goldsboro and Morehead City covering roughly 94.7 miles. These rights took effect in August 1999 to continue local and overhead freight services formerly operated under expired leases.
In September 2003, Norfolk Southern along with Atlantic and East Carolina Railway submitted a corporate family class exemption filing to merge the subsidiary into Norfolk Southern. This merger became effective October 6, 2003, consolidating operations within Norfolk Southern’s corporate framework.