Wikipedia:WikiProject Trains/ICC valuations/St. Louis, Brownsville and Mexico Railway

Interstate Commerce Commission, Valuation Reports, Volume 29

The St. Louis, Brownsville & Mexico Railway

Location and General Description of Property

The railroad of The St. Louis, Brownsville & Mexico Railway Company, herein called the St. Louis, Brownsville & Mexico, is a single-track, standard-gage, steam railroad, located in southeastern Texas. The main line extends in a northeasterly direction from Brownsville, Tex., to Algoa, Tex. There are several branch lines, the most important ones being those extending from Harlingen to Sam Fordyce, and from Victoria to Port O'Connor and Austwell. By means of trackage rights over the line of the Gulf, Colorado and Santa Fe Railway Company from Algoa, the St. Louis, Brownsville & Mexico reaches Galveston and Houston.

The St. Louis, Brownsville & Mexico wholly owns and uses 628.936 miles of tracks and jointly owns and uses with other carriers 0.758 mile, which are classified in the trackage table in Appendix 1.

Introductory

The St. Louis, Brownsville & Mexico is a corporation of the State of Texas, having its principal office at Kingsville, Tex. Control of the St. Louis, Brownsville & Mexico until May, 1910, was exercised by the St. Louis Union Trust Company as manager of a syndicate, the principal members of which were B. F. Yoakum and associates. In May, 1910, the St. Louis and San Francisco Railroad Company purchased from the syndicate all the St. Louis, Brownsville & Mexico's outstanding capital stock and mortgage bonds. The St. Louis, Brownsville & Mexico is controlled by the New Orleans, Texas & Mexico on date of valuation through ownership of its entire capital stock and bonds.

The St. Louis, Brownsville & Mexico jointly controls on the date of valuation the companies listed below:

	Per cent
Brownsville Matamoros Bridge Company; jointly controlled with the National Railways of Mexico.	50
Houston Belt & Terminal Railway Company; jointly controlled with the Gulf, Colorado and Santa Fe Railway Company; The Trinity and Brazos Valley Railway Company; and The Beaumont, Sour Lake & Western Railway Company.	25

The property of the St. Louis, Brownsville & Mexico was operated by its own organization from the date each section was completed until July 5, 1913, upon which date the property was placed in the hands of a receiver. The receiver was discharged on April 18, 1916, and the property restored to the St. Louis, Brownsville & Mexico, which continued its operation until January 1, 1918, when the common-carrier property was taken over for operation by the United States Railroad Administration which operates it on date of valuation.

Corporate History

The St. Louis, Brownsville & Mexico was incorporated June 5, 1903, for a period of 50 years under Title Ninety-four of the Revised Statutes of the State of Texas. The purpose for which the St. Louis, Brownsville & Mexico was incorporated was to incorporated was to construct, equip, maintain, and operate a standard-gage railway from Sinton to Brownsville, Tex., with a branch line extending westerly to the southeast corner of Star County, a total distance of about 200 miles.

The articles of incorporation were amended by the St. Louis, Brownsville & Mexico filing certificates dated October 6, 1903, November 8, 1909, January 26, 1910, January 15, 1912, and May 29, 1912, providing for the extension of its main line from Sinton to Houston, Tex., and the construction of branch lines to Collegeport, Victoria, Port O'Connor, and Sam Fordyce, Tex.

Development of Fixed Physical Property

The road owned by the St. Louis, Brownsville & Mexico on date of valuation has been acquired by it as indicated hereunder:

Termini	Construction commenced	Acquired for operation	Mileage
By purchase from John Closner and W. F. Sprague (road constructed by a nonincorporated company styled "San Antonio & Rio Grande Valley Railway"): San Juan to Edinburg.	......	July 1, 1912	7.8
By construction:
Brownsville to Robstown.	August, 1903	July 4, 1904	152.7
Robstown to Sinton.	......	Apr. 10, 1905	20.7
Sinton to Refugio.	September, 1904	Sept. 11, 1905	23.9
Refugio to Bay City.	......	Apr. 10, 1906	97.8
Bay City to Algoa.	May, 1905	May 28, 1907	59.4
Harlingen to Sam Fordyce.	May, 1904	Dec. 19, 1904	55.3
Buckeye to Collegeport.	1908-1911	1908-1911	16.0
Bloomington to Port O'Connor.	September, 1909	Mar. 1, 1910	38.2
Bloomington to Victoria.	......	May 1, 1912	13.5
Heyser to Austwell.	......	Oct. 1, 1912	16.9
Less remeasurements and adjustment	......	......	.213
Total road mileage owned on date of valuation.	......	......	501.987

That part of the road extending from Brownsville to Algoa and from Harlingen to Sam Fordyce was constructed by Johnston Brothers, contractors, of St. Elmo, Ill. They were paid by a syndicate which was organized for the purpose of constructing the road. The branch lines extending to Port O'Connor, Victoria, and Austwell were constructed by A. T. Perkins, trustee. The remaining branch lines were constructed by the St. Louis, Brownsville & Mexico's own forces.

Leased Railway Property

As hereinbefore stated, the common-carrier property of the St. Louis, Brownsville & Mexico was operated by the United States Railroad Administration from January 1, 1918, to date of valuation.

The St. Louis, Brownsville & Mexico used on December 31, 1917, facilities owned by other companies to the extent indicated below. The description of the property, the terms of use, and the rentals accrued and charged to income for the year ended on December 31, 1917, are as follows:

	Rentals
Jointly used, but not owned, owned by—
Gulf, Colorado and Santa Fe Railway Company — Tracks, 24.32 miles, from Algoa to connection with line of Houston Belt & Terminal Railway Company at Houston, together with facilities; annual rental based on 1⅔ per cent of valuation, plus one-third of taxes; maintenance and operation apportioned on car-mileage basis.	$16,898.98
Houston Belt & Terminal Railway Company — Tracks, 4.52 miles, from connection with the line of Gulf, Colorado and Santa Fe Railway Company, to Houston, together with terminal facilities at Houston; rental based on 25 per cent of interest on the owning company's bonds and an equal proportion of sinking fund for retirement of said company's first-mortgage bonds; maintenance and operation based on number of cars and engines handled over terminal.	94,630.70
The Texas Mexican Railway Company — Tracks, 16.39 miles, from Robstown to Corpus Christi, together with facilities; rental based on 2½ per cent of valuation and one-half of taxes; maintenance and operation on car-mileage basis.	10,198.69
Rio Grande Railway Company — Tracks, 0.71 mile, from Rio Grande Station to Rio Grande Junction; for the use of this property the St. Louis, Brownsville & Mexico pays a fixed sum of $250 per annum.	249.96

Certain of the equipment owned by the St. Louis, Brownsville & Mexico is used from a pool for the operation of certain short lines forming a part of the so-called Gulf Coast Lines, of which the St. Louis, Brownsville & Mexico is also a part. Such equipment is not used under a formal lease, but rental is charged therefor on a per diem or mileage basis. Repairs to such equipment are pooled and charged to the various companies on a user basis.