Wikipedia:WikiProject Trains/ICC valuations/Alabama and Vicksburg Railway
Interstate Commerce Commission, Valuation Reports, Volume 26
The Alabama and Vicksburg Railway
editLocation and General Description of Property
editThe railroad of The Alabama and Vicksburg Railway Company, herein called the Alabama and Vicksburg, is a standard-gage, steam railroad, located in Mississippi. The main line extends from Meridian, Miss., westerly to Vicksburg, Miss., a distance of 141.522 miles. The railroad is single track, except 0.357 mile at Meridian, Miss., which is double-track. The Alabama and Vicksburg wholly owns and uses 197.650 miles of all tracks. These tracks, consisting of first main tracks, second main track, and yard tracks and sidings, are classified in the trackage table in Appendix 1. The Alabama and Vicksburg also jointly owns and uses with another carrier 0.06 undivided mile of sidings, as shown in the trackage table in Appendix 1.
Introductory
editThe Alabama and Vicksburg is a corporation of the State of Mississippi, having its principal corporate office at Jackson, Miss., and its principal business office at New Orleans, La. It is controlled by The Sterling Trust, Limited, of London, England, through ownership of about 56 per cent of its capital stock. On the other hand, this company, itself, has control jointly with other companies over other common-carrier corporations, as indicated below:
- Louisiana and Mississippi Railroad Transfer Company per cent 49
- Controlled jointly by the Alabama and Vicksburg and the Vicksburg, Shreveport & Pacific Railway Company.
- Meridian Terminal Company per cent 20
- Controlled jointly by the Alabama and Vicksburg, The Alabama Great Southern Railroad Company, the Mobile and Ohio Railroad Company, the New Orleans and Northeastern Railroad Company, and the Southern Railway Company.
The property of the Alabama and Vicksburg was operated by its own organization from the dates acquired by it until December 31, 1917. On January 1, 1918, its common-carrier property was taken over for operation by the United States Railroad Administration, which still operates it.
Corporate History
editThe Alabama and Vicksburg was incorporated March 19, 1889, under the general laws of the State of Mississippi, as a reorganization of The Vicksburg and Meridian Railroad Company. The following chart shows the names of the corporations comprising the line of corporate succession of the Alabama and Vicksburg, the respective date of incorporation, and for each predecessor the date of succession, the immediately succeeding corporation, and the manner of succession. Reference to each of these corporations is made in the last column by its respective number shown in the first column.
| No. | Name | Incorporation | Succession |
|---|---|---|---|
| 1 | The Alabama and Vicksburg Railway Company. | Under general laws of Mississippi, Mar. 18, 1889, as a reorganization of 2. | |
| 2 | The Vicksburg and Meridian Railroad Company. | See 3. | Sold at foreclosure sale Feb. 4, 1889, after receivership begun Oct. 29, 1885, and reorganized as 1 May 15, 1889. |
| 3 | The Southern Railroad Company. | By special act of Alabama, approved Jan. 6, 1846, and special act of Mississippi, approved Feb. 23, 1846, but company failed to organize under these authorizations. Incorporation revived by special act of Mississippi, approved Mar. 9, 1850, as a Mississippi corporation. | Name changed to 2, by special act of Mississippi, approved Jan. 28, 1867. |
| 4 | The Vicksburg and Jackson Railroad Company. | See 5. | Sold to 3 by contract of sale dated Jan. 8, 1857, and deed dated Mar. 18, 1857. |
| 5 | The President, Directors, and Company of the Commercial and Railroad Bank of Vicksburg. | By special act of Mississippi, approved Dec. 25, 1833. | Name changed to 4 by special act of Mississippi, approved Mar. 9, 1850. |
| 6 | The Clinton and Vicksburg Railroad Company. | By special act of Mississippi, approved Dec. 19, 1831. | Charter transferred to 5 by special act of Mississippi, approved Dec. 25, 1833, which incorporated 5. |
| 7 | The Jackson and Brandon Railroad and Bridge Company. | By special act of Mississippi, approved Feb. 5, 1836. Revived by special act of Mississippi, approved Feb. 5, 1841, as successor of 8. | Charter rights transferred to 8 by special act of Mississippi, approved Feb. 5, 1836[sic]. Property transferred to 3 in July, 1852, by governor of Mississippi, who received his authority by special act of Mississippi, approved March 8, 1852. |
| 8 | The Mississippi and Alabama Railroad Company. | By special act of Mississippi, approved Feb. 9, 1836. Made successor of 7 by special act of Mississippi, approved Feb. 5, 1838. | Charter revoked and charter rights transferred to 7 by special acts of Mississippi, approved Feb. 21, 1840, and Feb. 5, 1841, respectively. |
Development of Fixed Physical Property
editThe owned mileage of the Alabama and Vicksburg, amounting to 141.522 miles, was all acquired by purchase in the reorganization of 1889. The names of the corporations which constructed the property, and the dates of construction, are indicated below.
| [Property] | [Mileage subtotal] |
Mileage |
|---|---|---|
| Acquired from The Vicksburg and Meridian Railroad Company in the reorganization of 1889. | 143 | |
| Constructed by The Vicksburg and Jackson Railroad Company— | ||
| Vicksburg to Jackson, Miss., completed about 1840. | 42 | |
| Constructed by The Jackson and Brandon Railroad and Bridge Company— | ||
| Jackson to Brandon, Miss., completed not later than 1849. | 14 | |
| Constructed by The Vicksburg and Meridian Railroad Company- | ||
| Brandon to Morton, Miss., completed in 1858. | 21 | |
| Morton to Meridian, Miss., completed in 1861. | 64 | |
| In or near Vicksburg, Miss., constructed from 1872 to 1874. | 2 | |
| Decrease in mileage due to rearrangement of tracks at Vicksburg, Miss., by the Alabama and Vicksburg in 1899 and in 1917. | 2 | |
| Total recorded mileage. | 141 | |
| Difference between recorded mileage and mileage inventoried as of date of valuation. | 0.522 | |
| Mileage inventoried as of date of valuation. | 141.522 |
Leased Railway Property
editThe arrangements of the Alabama and Vicksburg with other companies, in effect December 31, 1917, covering the sole or joint use of road or other facilities, have been continued by the United States Railroad Administration to date of valuation. The description of the property, the period and terms of use, and the rentals accrued and charged or credited to income for the year ending on date of valuation are as follows:
| Rentals | |
|---|---|
| Solely owned, but not used, leased to — | |
| The Yazoo and Mississippi Valley Railroad Company — | |
| Lands. | ...... |
| Solely owned, but jointly used, used with — | |
| Vicksburg, Shreveport & Pacific Railway Company — | |
| Facilities for interchanging passenger and freight traffic in Vicksburg, Miss., including city and river terminals; no written agreement; the Vicksburg, Shreveport & Pacific Railway Company pays one-third cost of operating freight terminals, one-fourth cost of operating passenger station, and switching charges for movement of freight traffic to and from Vicksburg, Miss., proper, and to and from the tracks of The Yazoo and Mississippi Valley Railroad Company. | ...... |
| Louisiana and Mississippi Railroad Transfer Company — | |
| Incline and other landing facilities on the Mississippi River at Vicksburg, Miss.; for indefinite period from July 1, 1907; annual rental of $7,000, plus $3,000 for maintenance. | $7,000.00 |
| New Orleans and Northeastern Railroad Company — | |
| Lands at Meridian, Miss.; perpetual from June 29, 1907; no rental, but the New Orleans and Northeastern Railroad Company agreed to build and repair equipment for the Alabama and Vicksburg at cost plus 10 per cent. | ...... |
| Solely used, but not owned, leased from — | |
| Noncarriers — | |
| Lands. | ...... |
| Jointly used, but not owned, owned by — | |
| Meridian Terminal Company — | |
| Passenger terminal facilities at Meridian, Miss.; term of 60 years from May 1, 1905; the Alabama and Vicksburg pays a proportion, based on use, of the owner's net operating expenses, taxes, bond interest, and a 4 per cent annual stock dividend. | 3,487.26 |
| Illinois Central Railroad Company— | |
| Passenger station facilities at Jackson, Miss.; indefinite period from February 1, 1911; the Alabama and Vicksburg pays a proportion, based on use, of net expenses, plus 5 per cent per annum on the valuation of the facilities. | 3,856.96 |
| Owned solely by various companies, used jointly by all: | |
| The Alabama and Vicksburg, The Alabama Great Southern Railroad Company, and the New Orleans and Northeastern Railroad Company— | |
| Freight terminals at Meridian, Miss., portions of which are owned solely by each of these three companies, but all of which are used jointly by such companies. Each company receives 5 per cent per annum on the valuation of its owned property, and pays a proportion, based on use, of the net expenses of operating the joint property— | |
| Rents receivable, credited to income. | 23,103.31 |
| Rents payable, charged to income. | 5,453.72 |