Wikipedia:WikiProject Trains/ICC valuations/Beaumont Wharf and Terminal Company

Interstate Commerce Commission, Valuation Reports, Volume 119

Beaumont Wharf and Terminal Company

The Beaumont Wharf and Terminal Company, hereinafter called the carrier, is a corporation of the State of Texas, controlled by The Atchison, Topeka and Santa Fe Railway Company. It owns and operates a standard-gauge steam-operated terminal railroad in Beaumont, Tex. Its road embraces 3,831 miles of yard tracks and sidings.

Location and General Description of Property

The railroad of the Beaumont Wharf and Terminal Company, hereinafter called the carrier, is a standard-gauge steam-operated terminal railroad, located in Beaumont, Tex. The company owns 3.831 miles of yard tracks and sidings, all of which it uses.

Introductory

The carrier is a corporation of the State of Texas, having its principal office at Beaumont, Tex. Since October 9, 1900, it has been controlled by The Atchison, Topeka and Santa Fe Railway Company. The carrier operates its property through the Gulf, Colorado and Santa Fe Railway Company as agent.

Corporate History

The carrier was incorporated by John W. Kirby and W. W. Wilson and associates under the provisions of the revised statutes of Texas, on March 26, 1897, for a period of 50 years, for the purpose of constructing, maintaining, and operating a terminal railroad of standard gauge within or near the city of Beaumont, Jefferson County, Tex.; of connecting with all other railroads entering into or passing through that city, and with all mills and cotton gins therein; of constructing or purchasing and maintaining wharves on the banks of the Nechez[sic] River and Brakes Bayou, and of connecting the terminal railway with these navigable streams.

Development of Fixed Physical Property

During the year 1898 and subsequent thereto, the carrier caused to be constructed about 3.83 miles of terminal tracks and sidings within the city of Beaumont. The property was placed in operation about September, 1898.

Leased Railway Property

The carrier, under a 99-year lease, dated April 15, 1898, has equal right in and joint undivided use and control of certain lands, property, and premises of the Gulf, Beaumont & Kansas City Railway Company, at Beaumont. The consideration to be paid for such use, as stated in the lease, is $10,000 cash and $1,200 annual rental; also the payment of all State and county taxes and all municipal charges of every kind assessed against the property after the expiration of two years from date of lease and the entire cost of maintenance of all railroad tracks and connections covered by this lease after the expiration of three years from date. The records of the carrier do not show what considerations have actually been paid for the use of the property. On date of valuation, the carrier operates jointly 0.18 mile of track owned by the Texarkana and Fort Smith Railway Company, at Beaumont. The rent therefor is the portion of the bond interest applicable thereto, together with a portion of the maintenance expenses determined on a wheelage basis. For the use of this property for the year ended on date of valuation, the carrier has paid $110.24.