Wikipedia:WikiProject Trains/ICC valuations/Louisiana and North West Railroad

http://books.google.com/books?id=ethtCNZlgA4C

The railroad of The Louisiana & North West Railroad Company, herein called the carrier, is a single-track, standard-gauge, steam railroad, located in Arkansas and Louisiana. The owned mileage consists of a main line extending from Magnolia, Ark., to Natchitoches, La., 114.681 miles. The mileage used under lease consists of a line extending from McNeil to Magnolia, 6.738 miles, all in Arkansas, of which 0.163 mile is double tracked, and is a portion of the road owned by the St. Louis Southwestern Railway Company. The carrier owns and uses 124.829 miles of all tracks and uses but does not own 7.821 miles of all tracks. These tracks are classified in the trackage table in Appendix 1.

CORPORATE HISTORY

The carrier was incorporated December 3, 1889, for a period of 99 years, under the general laws of Louisiana. The incorporators of the carrier had previously caused the incorporation of The Louisiana North and South Railroad Company under the general laws of Louisiana on November 28, 1885, but because the latter company's charter was defective they reorganized in 1889 as the carrier. The property of the predecessor company was conveyed to the carrier by deed dated January 21, 1890.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The mileage owned by the carrier, 114.681 miles, was acquired by it through reorganization or through construction. The manner of acquisition and the years when the various sections were constructed are indicated below.

Acquired through reorganization from The Louisiana North and South by deed dated Jan. 21, 1890, constructed for that company by J. D. Beardsley, contractor, 1887 to 1890, Bienville to Homer, La. 36.40

Acquired through construction:

Homer, La., to Magnolia, Ark., 1897-1898 35.70

Bienville to Lucky, La., 1900-1901 7.50

Lucky to Saline, La., 1901-1904 5.50

Saline to Natchitoches, La., 1901-1905 30.20

Natchitoches, La., 1912 .30

79.20

Total 115.60

Less remeasurement .60

Total recorded mileage 115.00

Difference between recorded mileage and mileage inventoried as of date of valuation .319

Total mileage inventoried as of date of valuation 114.681

The construction of the 35.70 miles of road from Homer, La., to Magnolia, Ark., and the 43.20 miles of road from Bienville to Natchitoches, La., was provided for under contracts by J. D. Beardsley who was affiliated with the carrier. The 0.3 mile of road at Natchitoches, La., was constructed by company forces.

HISTORY OF CORPORATE FINANCING