Wikipedia:WikiProject Trains/ICC valuations/Missouri, Oklahoma and Gulf Railroad
Interstate Commerce Commission, Valuation Reports, Volume 125
Missouri, Oklahoma and Gulf Railroad
editLocation and General Description of Property
editThe railroad of the Missouri, Oklahoma and Gulf Railroad Company, hereinafter called the Missouri, Oklahoma and Gulf Railroad, is a single-track line in Oklahoma, extending northerly from Wagoner, Okla., to the Oklahoma-Kansas State line, 95.588 miles, together with a combination railway and highway bridge, including 0.212 mile of track, over the Red River at the southern terminus of the Missouri, Oklahoma and Gulf Railway's owned line.
Introductory
editThe Missouri, Oklahoma and Gulf Railroad, on date of valuation, was a corporation of the State of Oklahoma, having its principal office in Muskogee, Okla. It is controlled by William Kenefick, of Kansas City, Mo., and associates, through ownership of a majority of the outstanding capital stock. On the other hand, the Missouri, Oklahoma and Gulf Railroad controls, through ownership of a majority of the outstanding capital stock, the Missouri, Oklahoma & Gulf of Texas, whose property is separately operated. It also controls, through ownership of a majority of the outstanding capital stock, The Missouri, Oklahoma & Gulf Railroad, whose property is leased to the Missouri, Oklahoma and Gulf Railway.
The property of the Missouri, Oklahoma and Gulf Railroad was operated by its own organization from the date of acquisition thereof to September 21, 1912; by the Missouri, Oklahoma and Gulf Railway, under lease, from September 21, 1912, to December 12, 1913; and from the latter date to December 31, 1918, by receivers. From January 1, 1919, to date of valuation, it was operated by the United States Railroad Administration as a part of the operating unit of the Missouri, Oklahoma and Gulf Railway.
Corporate History
editThe Missouri, Oklahoma and Gulf Railroad was incorporated December 12, 1911, under the general laws of the State of Oklahoma, for the principal purpose of constructing and operating railroads within the States of Oklahoma, Texas, and Missouri. On February 15, 1912, the Missouri, Oklahoma and Gulf Railroad acquired the property of the Oklahoma Union Railway. That company was incorporated July 28, 1910, under the general laws of the State of Oklahoma, as the Missouri, Oklahoma & Gulf Railroad Company, the name being changed December 11, 1911.
Development of Fixed Physical Property
editThe owned mileage of the Missouri, Oklahoma and Gulf Railroad was acquired partly by purchase and partly by construction, as detailed in the statement below.
| Mileage | |
|---|---|
| Acquired by purchase from the Oklahoma Union Railway, constructed by the Missouri, Oklahoma & Gulf Railroad Company, bridge and tracks across the Red River north of Denison, Tex., 1910. | 0.21 |
| Acquired by construction from a point on Kansas-Oklahoma State line southerly to Wagoner, Okla., January, 1912, to June, 1913. | 95.58 |
| Total recorded mileage. | 95.79 |
| Difference between total recorded mileage and mileage inventoried as of date of valuation. | 0.01 |
| Mileage inventoried as of date of valuation. | 95.80 |
The road between Kansas-Oklahoma State line and Wagoner, Okla., was constructed under a contract with the Fidelity Construction Company, which was controlled by William Kenefick, then president of the Missouri, Oklahoma and Gulf Railroad.
Leased Railway Property
editThe entire property of the Missouri, Oklahoma and Gulf Railroad is leased to the Missouri, Oklahoma and Gulf Railway for 99 years, dating from September 21, 1912. The terms of the lease and other details are given in the chapter on leased railway property in the report on the lessee.