Wikipedia:WikiProject Trains/ICC valuations/Gulf, Mobile and Northern Railroad
Interstate Commerce Commission, Valuation Reports, Volume 125
Gulf, Mobile and Northern Railroad[edit]
Location and General Description of Property[edit]
The railroad of the Gulf, Mobile and Northern Railroad Company, hereinafter called the carrier, is a standard-gauge steam railroad, located in Alabama, Mississippi, and Tennessee. The main line extends northwesterly from Mobile, Ala., to Middleton, Tenn., a distance of 368.766 miles, with branches projecting from Beaumont to Hattiesburg, Miss., and from Ellisville Junction to Ellisville, Miss. The principal cities served are Mobile, Ala.; Ellisville, Hattiesburg, Laurel, Louisville, New Albany, and Philadelphia, Miss., and Middleton, Tenn. The carrier owns and uses 401.652 miles of first main track, 0.906 mile of second main track, and 80.230 miles of yard tracks and sidings. Its road thus embraces 482.788 miles of all tracks owned and used, classified by States in the trackage table in Appendix 1.
Introductory[edit]
The carrier is a corporation of the States of Alabama, Mississippi, and Tennessee, having its principal office at Mobile, Ala. Although it acquired title to its original property on December 18, 1916, it did not commence recording the results of the operations of its property in its books until January 1, 1917. The accounting data in this report, therefore, cover the period from January 1, 1917. It is controlled by John W. Platten, Samuel S. Campbell, Frederick Wm. Scott, A. H. S. Post, and T. Nelson Strother, voting trustees, through holding under a voting-trust agreement a majority of its outstanding capital stock, in the interest of the security holders and creditors of one of its predecessors, the New Orleans, Mobile and Chicago Railroad Company. On the other hand, the records do not indicate that the carrier itself controls any other common-carrier corporation. The property of the carrier has been operated by its own organization from January 1, 1917, to date of valuation.
Corporate History[edit]
The carrier was incorporated under the general laws of the States of Alabama, Mississippi, and Tennessee, through filing with the secretaries of those States an agreement dated December 18, 1916, for the purpose of consolidating the property, rights, and franchises of the Gulf, Mobile and Northern Railroad Company (of Alabama), the Gulf, Mobile and Northern Railroad Company (of Mississippi), and the Gulf, Mobile and Northern Railroad Company (of Tennessee). Pursuant to the above purpose, the carrier acquired the property, rights, and franchises of the three railroad corporations named. The carrier itself and those corporations, together with their predecessors, total 20 different corporations, of which 1 underwent a change of name, and comprise the line of corporate succession culminating in the carrier as at present constituted. The following chart shows the names of the corporations, the respective dates of incorporation, and for each predecessor the date of succession, the immediately succeeding corporation, and the manner of succession. Reference to each of these corporations is made in the last column by its respective number shown in the first column.
| No. | Name | Incorporation | Succession |
|---|---|---|---|
| 1. | Gulf, Mobile and Northern Railroad Company. | Under general laws of Alabama, Mississippi, and Tennessee through articles of consolidation dated Dec. 18, 1916. | |
| 2. | Gulf, Mobile and Northern Railroad Company (of Alabama). | Under general laws of Alabama, Dec. 20, 1915. | Consolidated Dec. 18, 1916, with 3 and 4 to form 1. |
| 3. | Gulf, Mobile and Northern Railroad Company (of Mississippi). | Under general laws of Mississippi Dec. 8, 1915. | Consolidated Dec. 18, 1916, with 2 and 4 to form 1. |
| 4. | Gulf, Mobile and Northern Railroad Company (of Tennessee). | Under general laws of Tennessee, Dec. 30, 1915. | Consolidated Dec. 18, 1916, with 2 and 3 to form 1. |
| 5. | New Orleans, Mobile and Chicago Railroad Company. | Under general laws of Alabama, Mississippi, and Tennessee through articles of consolidation dated Dec. 3, 1909, effective Dec. 1, 1909. | Sold at foreclosure Aug. 18, 1915, after receivership begun Dec. 19, 1913, to C. H. Murphey, who conveyed portion in Alabama to 2, in Mississippi to 3, in Tennessee to 4, Dec. 11, 1916. |
| 6. | New Orleans, Mobile and Chicago Railroad Company (of Alabama). | Under general laws of Alabama, Nov. 24, 1909. | Consolidated, effective Dec, 1, 1909, with 7 and 8 to form 5. |
| 7. | New Orleans, Mobile and Chicago Railroad Company (of Mississippi). | Under general laws of Mississippi, Nov. 23, 1909. | Consolidated, effective Dec. 1, 1909, with 6 and 8 to form 5. |
| 8. | New Orleans, Mobile and Chicago Railroad Company (of Tennessee). | Under general laws of Tennessee, Nov. 26, 1909. | Consolidated, effective Dec, 1, 1909, with 6 and 7 to form 5. |
| 9. | Mobile, Jackson and Kansas City Railroad Company. | Under special act of Alabama, Dec. 12, 1888, special act of Mississippi, Feb. 20, 1890, through articles of consolidation. | Sold at foreclosure Aug. 23, 1909, after receivership begun Dec. 26, 1906, to John A. Laing, who conveyed portion in Alabama to 6, portion in Mississippi to 7, Dec. 1, 1909. |
| 10. | Mobile, Hattiesburg and Jackson Railroad Company (of Alabama). | Under commission issued by the secretary of the State of Alabama, Aug. 28, 1887. | Consolidated with 11 to form 9, approved Dec. 12, 1888. |
| 11. | Mobile, Hattiesburg and Jackson Railroad Company (of Mississippi). | Under special act of Mississippi Mar. 7, 1888. | Consolidated with 10 to form 9, approved Feb. 20, 1890. |
| 12. | Mobile and Northwestern Railroad Company. | Under special act of Alabama, Feb. 20, 1870, of Mississippi, July 20, 1870. | Sold to 9, Nov. 13, 1891. |
| 13. | Kingston and Central Mississippi Railway Company. | Under general laws of Mississippi, Feb. 18, 1901. | Sold to No. 9, Nov. 25, 1902. |
| 14. | Gulf and Chicago Railway Company. | Under approval of State of Mississippi Railroad Commission, July 6, 1903, through articles of consolidation, ratified June 25, 1903, effective July 1, 1903. | Sold at foreclosure Aug. 23, 1909, after receivership begun Dec. 29, 1906, to John A. Laing, who conveyed portion in Mississippi to 7, portion in Tennessee to 8, by deeds dated Dec. 1, 1909. |
| 15. | Gulf and Chicago Railway Company (of Mississippi). | Under general laws of Mississippi, Apr. 21, 1903. | Consolidation effective July 1, 1903, with 16 and 17 to form 14. |
| 16. | Gulf and Chicago Railway Company (of Tennessee). | Under general laws of Tennessee, Apr. 23, 1903. | Consolidation effective July 1, 1903, with 15 and 17 to form 14. |
| 17. | Gulf and Chicago Railroad Company. | Under special act of Mississippi, through articles of consolidation, date unknown, approved Feb. 20, 1890. | Consolidation effective July 1, 1903, with 15 and 16 to form 14. |
| 18. | Gulf and Chicago Railroad Company (of Mississippi). | Under general laws of Mississippi, July 25, 1889. | Consolidated Feb. 20, 1890, with 19 to form 17. |
| 19. | Gulf and Chicago Railroad Company (of Tennessee). | In Tennessee, manner and date unknown. | Consolidated Feb. 20, 1890, with 18 to form 17. |
| 20. | Ship Island, Ripley, and Kentucky Railroad Company. | See 21. | Sold at foreclosure July 23, 1889, to WC Falkner, and acquired Aug. 1, 1889, by 17. |
| 21. | Ripley Railroad Company. | Under special act of Mississippi, May 12, 1871. | Name changed to 20, Mar. 16, 1872. |
Development of Fixed Physical Property[edit]
The owned mileage of the carrier, amounting to 401.652 miles, was acquired partly by construction and partly by consolidation. Of the 19 corporations that comprise the line of succession culminating in the carrier as at present constituted, 13 corporations did not construct any road or other common-carrier property. These companies were:
- Gulf, Mobile and Northern Railroad Company (of Alabama).
- Gulf, Mobile and Northern Railroad Company (of Mississippi).
- Gulf, Mobile and Northern Railroad Company (of Tennessee).
- New Orleans, Mobile and Chicago Railroad Company (of Alabama).
- New Orleans, Mobile and Chicago Railroad Company (of Mississippi).
- New Orleans, Mobile and Chicago Railroad Company (of Tennessee).
- Mobile, Hattiesburg and Jackson Railroad Company (of Alabama).
- Mobile, Hattiesburg and Jackson Railroad Company (of Mississippi).
- Gulf and Chicago Railway Company (of Mississippi).
- Gulf and Chicago Railway Company (of Tennessee).
- Gulf and Chicago Railroad Company.
- Gulf and Chicago Railroad Company (of Mississippi).
- Gulf and Chicago Railroad Company (of Tennessee).
The property constructed by the remaining corporations, and by the carrier itself, together with that purchased by one of the predecessors from the Gulf & Ship Island Railroad Company, the years when the various portions of the line were constructed, and the manner in which the carrier acquired the property are indicated in the following table, wherein, to facilitate comparison with the table showing the corporate succession, previously given, the same order of corporations is maintained.
| Mileage | ||
|---|---|---|
| Constructed partly by the receiver of the New Orleans, Mobile and Chicago Railroad Company and completed by the carrier, Walnut to Brownfield, Miss., 1917. | 1.500 | |
| Acquired by consolidation, from the three consolidating companies: | ||
| Constructed by the New Orleans, Mobile and Chicago Railroad Company— | ||
| Revision of road at Pontotoc, Miss., 1910-1911. | 2.70 | |
| Revision of road at Decatur, Miss., 1911-1912. | 2.30 | |
| At Mobile, Ala., 1911-1912. | 1.10 | |
| Constructed by the Mobile, Jackson and Kansas City Railroad Company— | ||
| Mobile, Ala., to Merrill, Miss., 1896-1898. | 49.00 | |
| Merrill to Beaumont, Miss., 1902. | 19.28 | |
| Beaumont to Laurel, Miss., 1902. | 42.00 | |
| Beaumont to Hattiesburg, Miss., 1901. | 26.32 | |
| Ellisville Junction to Ellisville, Miss., 1902. | 6.66 | |
| Bay Springs, Miss., to milepost 166.4, 1902-1904. | 31.24 | |
| (Reconstructed and standardized 24 miles of road, North Laurel to Bay Springs, Miss., 1902-1904, previously acquired from the Kingston and Central Mississippi Railway Company). | ||
| Constructed by the Mobile and Northwestern Railroad Company (About 24 miles of graded roadbed, Mobile to Wilmer, Ala., 1871, of which about 17 miles was used by the Mobile, Jackson and Kansas City Railroad Company). | ||
| Constructed partly by the Kingston and Central Mississippi Railway Company and partly by a lumber company, North Laurel to Bay Springs, Miss., 1901-1902. | 24.00 | |
| Constructed by the Gulf and Chicago Railway Company— | ||
| Decatur to Pontotoc, Miss., 1903-1906. | 140.20 | |
| Decatur Junction (now Jeff) to Decatur, Miss., 1909. | 1.50 | |
| (Standardized 62.1 miles of narrow-gauge road which was constructed by predecessors in ownership, Pontotoc, Miss., to Middleton, Tenn., of which 17.6 miles was also reconstructed). | ||
| Constructed by Ship Island, Ripley and Kentucky Railroad Company, Ripley, Miss., to Middleton, Tenn., 1872. | 24.40 | |
| Constructed by the Gulf & Ship Island Railroad Company (an existing company), Ripley to Pontotoc, Miss., 1886-1887. | 37.70 | |
| 408.30 | ||
| Less mileage abandoned or reclassified by the New Orleans, Mobile and Chicago Railroad Company. | 6.59 | |
| 401.710 | ||
| 403.210 | ||
| Less mileage abandoned by the carrier, previously acquired by consolidation and constructed originally by the Gulf & Ship Island Railroad Company. | 1.590 | |
| Total. | 401.620 | |
| Difference between total recorded mileage and mileage inventoried as of date of valuation. | .032 | |
| Mileage inventoried as of date of valuation. | 401.652 |
In addition to the completion of 1.50 miles of road by the carrier, it has under construction at the date of valuation an extension of its road from Middletown to Jackson, Tenn., and also a branch line about 1 mile south of McLain, Miss.
Leased Railway Property[edit]
The carrier uses , on the date of valuation, facilities owned by other companies and other companies use facilities owned by the carrier to the extent indicated in the statement below. The description of the property, the period and terms of use, and the rentals accrued and charged or credited to income for the sixth months' period ending on date of valuation, are as follows:
| Rentals | |
|---|---|
| Solely owned, but jointly used, used with— | |
| Meridian and Memphis Railway Company, freight and passenger station at Union, Miss.; for indefinite period from Oct. 1, 1914; stipulated rental $1,200 per annum. | $235.80 |
| Gilchrist-Fordney Company— | |
| Tracks, 27 miles, Laurel to Stevens, Miss.; for indefinite period from Apr. 25, 1902; stipulated minimum annual rental $3,000. | 1,093.50 |
| Tracks, 11.27 miles, Laurel to McPherson, Miss.; term 15 years from Dec. 16, 1915, renewable for same period; stipulated annual rental on basis of loaded-car miles of each company using tracks. | 1,195.17 |
| Marathon Lumber Company, tracks, 32.25 miles, Laurel to Minocqua, Miss.; term 15 years from Dec, 11, 1913, renewable for same period; stipulated annual rental on basis of loaded-car miles of each company using tracks. | 2.963.47 |
| Jointly used, but not owned, owned by— | |
| New Orleans and Northeastern Railroad Company; tracks, 0.625 mile, and freight and passenger terminal facilities at Hattiesburg, Miss. for indefinite period from June 24, 1910, subject to one year's notice; stipulated rental $3,600 per annum for tracks proportion of maintenance on user basis. | 1,790.44 |
| Southern Railway Company; depot and tracks appurtenant thereto at Middleton, Tenn.; for indefinite period from Apr. 29, 1912, subject to four months' notice; stipulated rental $1,200 per annum. | 390.00 |
There are other facilities of a minor nature in which the carrier grants or receives joint use that are not listed in this section.