Wikipedia:WikiProject Trains/ICC valuations/Mobile and Gulf Railroad

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Location and general description of property.—The railroad of The Mobile & Gulf Railroad Company, hereinafter called the carrier, is a single-track, standard gage, steam railroad, located in the northwestern section of the State of Alabama. The main line extends southerly from Fayette to Buhl, a distance of 31.888 miles. The company also owns 9.163 miles of yard tracks and sidings. Its road thus embraces 41.051 miles of all tracks owned and used. The carrier has joint use of station facilities at Buhl, Ala., owned by the Mobile and Ohio Railroad Company.

CORPORATE HISTORY

The carrier was incorporated and organized July 1, 1925, under general laws of Alabama, to acquire and operate in interstate commerce a line of railroad in Fayette and Tuscaloosa Counties, Ala., and to construct an extension of said railroad (99 I.C.C. 773).

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The available information concerning development of this property indicates that the road was built primarily as a logging road some time prior to 1918. This property which at April 6, 1918, consisted of about 25 miles of logging road, was acquired from the Baskett Lumber & Manufacturing Company by other parties who in turn conveyed it to the W. P. Brown and Sons Lumber Company, by deed dated July 1, 1919. During the period 1919 to 1925 the latter interests extended the road to a point near Buhl, Ala., and from the latter date to June 14, 1926, it was extended about 3.5 miles from terminus to a connection with tracks of Mobile and Ohio Railroad Company at Buhl, Ala. The road owned by carrier was acquired from W. P. Brown and Sons Lumber Company, by deed dated May 14, 1926, and at that time extended from a connection with tracks of the Southern Railway Company at Fayette to a connection with tracks of Mobile and Ohio Railroad Company at Buhl, about 33.5 miles (99 I.C.C. 773). The property was opened for operation as a common carrier June 15, 1926.

HISTORY OF CORPORATE FINANCING