Wikipedia:WikiProject Trains/ICC valuations/Deering Southwestern Railway

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Location and general description of property.—The railroad of Deering Southwestern Railway, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in the southeastern part of Missouri. The owned mileage extends in a general southwesterly direction from Caruthersville, Mo., to Hornersville Junction, Mo., a distance of 29.332 miles. The carrier also owns yard and side tracks totaling 3.550 miles. Its road thus embraces 32.882 miles of all tracks owned.

Corporate history.—The carrier was incorporated June 24, 1903, under the general laws of the State of Missouri, for a period of 99 years. Its stated purpose, as amended, was to construct, maintain, and operate a line of standard-gauge railway from Caruthersville, on the Mississippi River, westerly to Deering, thence southwesterly to a point on the Missouri-Arkansas State line at or near Hornersville, Mo. Of the 4,000 shares of outstanding capital stock, 2,382 are held in the name of F. B. Montgomery, president of the carrier and traffic manager of the International Harvester Company, and 1,368 in the name of William M. Gale, assistant treasurer of that company. The carrier's principal office is located at Deering, Mo. The detailed facts as to the development of the fixed physical property are given in Appendix 2.

APPENDIX 2

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

On June 24, 1903, the date the carrier was incorporated, it purchased a logging road extending from Deering southwesterly about 6 miles which had been constructed by the International Harvester Company during 1902 and 1903. The International Harvester Company continued to operate the road for the carrier until the spring of 1907, when its interest in the sawmill at Deering was assigned to the Wisconsin Lumber Company. The carrier took over the operation of the road at that time, and by the end of 1910 it had been extended about 1.5 miles southwesterly to Hickory Junction. Further extensions were made during 1910 and 1911; one from Deering easterly to Caruthersville, about 14 miles, the other from Hickory Junction southwesterly to Hornersville Junction, about 8.5 miles. The grading for the last-named extension was done by the Wisconsin Lumber Company. The road was used for logging operations as each section was completed, but was not operated for public use until the following dates: Caruthersville to Rives, April 3, 1911; Rives to Hornersville Junction, December 17, 1911.

HISTORY OF CAPITAL FINANCING