Wikipedia:WikiProject Trains/ICC valuations/Reader Railroad

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The railroad of the Reader Railroad, hereinafter called the carrier, is a single-track standard-gage, steam railroad, located in the southern part of Arkansas. The main line extends in a southerly direction from a connection with the railroad of the Missouri Pacific Railroad Company at Reader to Waterloo, a distance of 22.405 miles. The carrier also owns 1.231 miles of yard tracks and sidings. Its road thus embraces 23.636 miles of all tracks owned and used. All rail and certain track material used on this railroad is leased from the Missouri Pacific Railroad Company. The carrier has trackage rights over about 15 miles of road owned by the Missouri Pacific Railroad Company between Reader and Lester, Ark. On the other hand, the carrier grants trackage rights over its entire railroad to the Mansfield Hardwood Lumber Company for the operation of logging trains. This is an industrial railroad controlled by the Mansfield Hardwood Lumber Company in whose interest the road is operated.

CORPORATE HISTORY

The carrier was incorporated July 13, 1925, under the general laws of Arkansas to purchase the railroad or tram road owned by the Mansfield Hardwood Lumber Company and to construct extensions, the road so purchased or to be constructed to be operated for freight service only.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The road, all owned, consisting of 22.405 miles extending from Reader to Waterloo, Ark., was acquired by purchase August 1, 1925, from the Mansfield Hardwood Lumber Company. About 10 miles of road extending from Reader southward was constructed by the Valley Lumber Company during the period 1913 to 1922. The remainder was constructed by the Mansfield Hardwood Lumber Company during 1923 and 1924.

On November 12, 1926, the carrier amended its charter to provide for the construction of extensions from Waterloo to McNeil, about 16 miles, and from Hope to Eldorado, about 63 miles, all in Arkansas, and application was made to us for authority to construct these extensions; however, authority was denied on July 21, 1927, 131 I.C.C. 51.

The rails and part of the other track material in this road are leased from the Missouri Pacific Railroad Company.

HISTORY OF CORPORATE FINANCING