Wikipedia:WikiProject Trains/ICC valuations/Henderson Belt Railroad

Interstate Commerce Commission, Valuation Reports, Volume 39

Henderson Belt Railroad

Location and General Description of Property

The railroad of the Henderson Belt Railroad Company, hereinafter called the Henderson Belt Railroad, likewise leased to and operated by the Louisville and Nashville, is a single-track, standard-gage switching road, located in and near Henderson, Ky. The Henderson Belt Railroad owns no road mileage.

Introductory

The Henderson Belt Railroad is a corporation of the State of Kentucky, having its principal office at Louisville, Ky. It is controlled by the Louisville and Nashville, through ownership of the entire outstanding capital stock. The property of the Henderson Belt Railroad has always been operated by the Louisville and Nashville. The Henderson Belt Railroad does not maintain any accounting records, neither does it file any reports with this commission. Therefore, nothing can be stated from the accounts in connection with its financial dealings, investments, or original cost. Certain information has been obtained from the accounting records of the Louisville and Nashville, as indicated hereinafter.

Corporate History

Incorporation of the Henderson Belt Railroad was effected under special acts of the Legislature of Kentucky, approved April 12, 1888, and March 13, 1890, for the purpose of constructing industrial tracks in Henderson, Ky. The first board of directors of the Henderson Belt Railroad was elected March 8, 1890.

Development of Fixed Physical Property

The property of the Henderson Belt Railroad consists of 2.199 miles of yard tracks and sidings solely owned, and 0.630 mile of yard tracks and sidings owned jointly and equally with the Chicago, St. Louis and New Orleans Railroad Company. This property was all acquired by construction. The construction work commenced about March, 1890, and was completed some time during 1891. The obtainable records do not indicate whether the work was performed by forces of the Louisville and Nashville or by contract.

Leased Railway Property

The property of the Henderson Belt Railroad is operated by the Louisville and Nashville, under a perpetual agreement dated March 11, 1890, whereby the Louisville and Nashville pays all expenses of maintenance and operation. No amount is recorded in the Louisville and Nashville's accounts to represent rental paid for the use of the Henderson Belt Railroad's property for the year ending on date of valuation.