Wikipedia:WikiProject Trains/ICC valuations/Wichita Falls and Northwestern Railway of Texas

Interstate Commerce Commission, Valuation Reports, Volume 34

The Wichita Falls and Northwestern Railway of Texas

Location and General Description of Property

The railroad of The Wichita Falls and Northwestern Railway Company of Texas, herein called the Wichita Falls and Northwestern of Texas, extending from the Red River to Wichita Falls, 16.611 miles.

Introductory

The Wichita Falls and Northwestern of Texas is a corporation of the State of Texas, having its principal office at Wichita Falls, Tex.

Prior to May 1, 1914, the accounts of the Wichita Falls and Northwestern of Texas were kept in connection with those of The Wichita Falls and Northwestern Railway Company as one system, and for that reason only partial information can be given from the accounts regarding its financial dealings, corporate operations, or investments.

The Wichita Falls and Northwestern of Texas is controlled by The Wichita Falls & Northwestern Railway Company through ownership of all of its outstanding capital stock except directors' shares. The Wichita Falls & Northwestern Railway Company is controlled by the Missouri, Kansas & Texas Railway Company. On the other hand, the records do not indicate that this company controls any common-carrier corporation.

The property of the Wichita Falls and Northwestern of Texas was operated by The Wichita Falls & Northwestern Railway Company from the date of its completion to May 1, 1914, and from that date until December 31, 1917, by the Katy of Texas. From December 31, 1917, to date of valuation the property was operated by the United States Railroad Administration as a part of the operating unit of the Katy of Texas.

Corporate History

The Wichita Falls and Northwestern of Texas was incorporated September 26, 1906, under the general laws of the State of Texas, for the purpose of constructing and operating a railroad from Wichita Falls, Tex., to the Texas-Oklahoma State line at a point on Red River, about 20 miles. The date of organization of the Wichita Falls and Northwestern of Texas was not determined.

Development of Fixed Physical Property

The owned mileage of the Wichita Falls and Northwestern of Texas, 16.611 miles, was all acquired by construction which was completed during the year 1906. The road was constructed under a contract by the Texas & Oklahoma Construction Company, which was affiliated with the Wichita Falls and Northwestern of Texas, both companies having the same officers.

Leased Railway Property

The entire property of the Wichita Falls and Northwestern of Texas is leased to the Katy of Texas for a term of 99 years from May 1, 1914. The terms of the lease and the rental accrued for the year ended December 31, 1917, are given in the chapter on leased railway property in the report on the Katy of Texas.