Wikipedia:WikiProject Trains/ICC valuations/Mississippi Valley Company

Interstate Commerce Commission, Valuation Reports, Volume 46

The Mississippi Valley Company

Location and General Description of Property

The railroad of The Mississippi Valley Company is a single-track, standard-gage, steam railroad, owned but not used. One portion, leased to the Illinois Central, is in the southern part of Mississippi and extends eastwardly from Brookhaven to Monticello, 21.274 miles. The other portion, leased to the Yazoo and Mississippi Valley, is in the northwestern part of Mississippi and extends southerly from Lulu[sic] to Eagle's Nest, 11.423 miles.

The Mississippi Valley Company wholly owns but does not use 34.912 miles of all tracks, consisting of first main track and yard tracks and sidings, which are classified in the trackage table in appendix 1.

Introductory

The Mississippi Valley Company is a corporation of the State of Mississippi, having its principal office at New York, N.Y.

In the years 1878–1883 and 1885, the Illinois Central acquired the capital stock of The Mississippi Valley Company and since that time has controlled and made use of it as a holding company.

The Mississippi Valley Company controls through stock ownership the Yazoo and Mississippi Valley.

One part of the property of The Mississippi Valley Company has been operated by the Illinois Central, and the other, by the Yazoo and Mississippi Valley, since it was purchased.

In March, 1905, another holding company, the Mississippi Valley Corporation, was organized in the interest of the Illinois Central. At that time The Mississippi Valley Company transferred to the Mississippi Valley Corporation its investments in securities, of the book value of $6,795,495.55, which had been held for the Illinois Central. Since that time the holdings of The Mississippi Valley Company have consisted principally of property, carrier and noncarrier, in Mississippi, and securities of corporations of that State.

Corporate History

The Mississippi Valley Company was incorporated in Mississippi April 2, 1872, to acquire real and personal property and to organize and manage transportation facilities.

Development of Fixed Physical Property

The railroad property of The Mississippi Valley Company, Brookhaven to Monticello, Miss., 21.274 miles, acquired from the Pearl River Lumber Company October 24, 1911, for $35,195.27, recorded as an investment in other companies is leased to the Illinois Central. It was constructed by the Pearl River Lumber Company 1904 to 1906, in the interest of the Illinois Central.

The railroad property of The Mississippi Valley Company, Lula to Eagle's Nest, Miss., 11.423 miles, acquired from the Financial Improvement Company February 7, 1893, for a nominal amount of $1, not recorded in the books of The Mississippi Valley Company, is leased to the Yazoo and Mississippi Valley. It was constructed, 1872 to 1877, by or for the Mobile and Northwestern Railroad Company.

Leased Railway Property

The railroad of The Mississippi Valley Company, Brookhaven to Monticello, Miss., 21.274 miles, is leased to the Illinois Central for an indefinite period from January 17, 1911. The lessee maintains the property, pays all taxes and assessments, and receives all earnings in lieu of charging interest on advances.

The railroad of The Mississippi Valley Company, Lula to Eagle's Nest, Miss., 11.423 miles, is leased to the Yazoo and Mississippi Valley for an indefinite period from October 28, 1914, under an agreement whereby the lessee maintains the property and pays all taxes and charges.