Wikipedia:WikiProject Trains/ICC valuations/Louisiana Railway and Navigation Company

Interstate Commerce Commission, Valuation Reports, Volume 106

Louisiana Railway & Navigation

Location and General Description of Property

The railroad of Louisiana Railway & Navigation Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located entirely within Louisiana, of which the main line extends a distance of 303.966 miles from New Orleans, via Baton Rouge and Alexandria, to Shreveport and a branch line extends a distance of 27.184 miles from Aloha to Winnfield. Between Angola and Naples, a distance of about 8 miles, the carrier's cars are transported on car-ferry barges owned and operated by the Angola Transfer Company. The route crosses the Mississippi River at Angola and traverses a channel known as Old River to the incline at Naples, just above the mouth of Red River and near the head of Atchafalaya River. The inclines and cradles at Angola and Naples are owned by the carrier. The 8 miles referred to are not included in the main-line mileage stated above, all of which represents tracks owned by the carrier. The carrier also wholly owns and uses 104.962 miles of sidings, making a total of 436.112 miles of all tracks wholly owned and used. In addition to the above the carrier, jointly owns and uses with other carriers, 2.204 miles of sidings, making a total of 438.316 miles of all tracks used. The carrier leases to the Alexandria Lumber Company for exclusive use one locomotive and 74 steel flat cars. In Appendix 1 will be found a general description of the property of the carrier.

Corporate History

The carrier was incorporated on June 22, 1903, under the general laws of Louisiana, for a period of 99 years. On the same date, it succeeded by purchase to the property, rights, and franchises of the Shreveport and Red River Valley Railway Company, which had been incorporated on July 23, 1897. The principal office of the carrier is at Shreveport. Detailed data with respect to the development of fixed physical property of the carrier are given in Appendix 2.

Reference is made to the report of the accounting section for information respecting the predecessor of the carrier, the Shreveport and Red River Valley Railway Company.

Development of Fixed Physical Property

On June 22, 1903, the carrier purchased from the Shreveport and Red River Valley Railway Company a completed railroad extending from Shreveport, via Alexandria including the bridge over the Red River at that point, to Mansura, about 152 miles; a partially constructed main line from Mansura, southeasterly, toward New Orleans, about 71 miles; and a partially constructed branch line from Aloha to Winnfield, about 27 miles, together with certain spur and other tracks. Through the Louisiana Central Construction Company, the carrier completed the partially constructed lines and extended the road to New Orleans, about 81 miles. The partially constructed lines and the extension to New Orleans were completed in December, 1906. On date of valuation, the carrier was using 8.13 miles of terminal tracks of others, the details of which are shown under the caption Leased Railway Property.

Leased Railway Property

At date of valuation the carrier was using jointly, under leases, certain property of other carriers, and certain property of the carrier was being jointly used by others. The description of such property, and the basis of payment during the last year preceding date of valuation, follows:

	[Rentals]
Property leased from others, used jointly by the carrier:
Terminal facilities and 6.20 miles of tracks at New Orleans used for passenger traffic only, owned by the New Orleans Terminal Company. Carrier pays $1,100 per month rent for the station and 50 cents per train-mile for the use of the tracks. Amount paid for year ended on date of valuation was.	$16,337.90
Terminal facilities and 0.02 mile of track, at Shreveport, used for passenger traffic only, owned by the Kansas City, Shreveport and Gulf Terminal Company. Carrier pays $300 per month for the use of station for two trains of five cars or less per day, and $1 per train, each way, for the use of the track. Amount paid for year ended with date of valuation was.	6,534.00
Track connecting with the Vicksburg, Shreveport & Pacific Railway, 0.11 mile, at Shreveport, for freight traffic only, owned by the St. Louis Southwestern Railway Company. The annual rent paid for joint use is.	100.00
Bridge and tracks thereon, 0.35 mile, at Shreveport, owned by the Shreveport Bridge and Terminal Company. The annual rent paid by carrier for joint use is.	11,500.00
Approaches to Red River Bridge, 0.55 mile, at Shreveport, owned by the St. Louis Southwestern Railway Company. The annual rent paid by carrier for joint use is.	500.00
Water tank at La Place, owned by the Yazoo and Mississippi Valley Railroad Company. Rent paid by carrier for joint use for year ended with date of valuation was.	171.73
Tracks at Gramercy, owned by the Colonial Sugar Company. Rent paid by carrier for joint use for year ended with date of valuation was.	1,197.50
Property owned and operated by the carrier, used jointly by other carriers:
Terminal facilities, including 1.74 miles of main line and 1.25 miles of other tracks for passenger traffic, at Alexandria, used by the Rock Island, Arkansas and Louisiana Railway Company, jointly under lease. For such joint use carrier received $12,500 rent per annum plus 2.5 per cent per annum of the cost of additions and betterments, and a proportion of taxes and insurance, based on total cars moved. Amount received for year ended with date of valuation was.	12,961.12
One mile of branch line near Winnfield, used jointly, under temporary trackage agreement, by the Tremont & Gulf Railway Company. Amount received for year ended with date of valuation was.	270.50
Property owned but not used, leased to others for exclusive use:
The carrier leases to the Alexandria Lumber Company, one locomotive and 74 steel flat cars. The lease covering use of this equipment provides for annual rental of 6 per cent of agreed valuation of $40,000, which amounts to.	2,400.00

In addition to the foregoing, the Angola Transfer Company ferries the carrier's trains from Naples, through the mouth of the Red River, into and through what is known as Old River, and across the Mississippi River, to Angola, about 8 miles. The agreement between the carrier and the Angola Transfer Company provides the following rates for ferrying the trains:

• For each passenger-train car $4
• For each freight-train car $2
• For each locomotive $5

The agreement further provides that if the above-mentioned rates are not sufficient, after charging depreciation, to pay 6 per cent on the Angola Transfer Company's invested capital, the carrier is to pay an additional amount to equal that sum. During the year ended with date of valuation, the carrier paid the Angola Transfer Company $76,277 for ferrying its trains.