[2] In January 1885, a 30-year lease went into effect in which the Cape Fear and Yadkin Valley paid $12,000 annually, covered the interest on bonds taken out by the South Carolina Pacific (nearly $6,300 a year) and agreed to pay for maintenance of the line.
At this point, the board of the South Carolina Pacific resigned, as agreed, and the Cape Fear and Yadkin Valley's directors took over.
[4] For three decades ownership of the Cape Fear and Yadkin Valley changed hands repeatedly, until a North Carolina Supreme Court decision in 1924.
The southern routes of the Cape Fear and Yadkin Valley, including the South Carolina Pacific, went to the Atlantic Coast Line Railroad.
In 1914, the Atlantic Coast Line renewed its lease with the South Carolina Pacific for 99 years, beginning on Jan. 1, 1915.