Wikipedia:WikiProject Trains/ICC valuations/Natchez and Southern Railway

Interstate Commerce Commission, Valuation Reports, Volume 40

Natchez & Southern Railway

Location and General Description of Property

The railroad of the Natchez & Southern Railway Company, herein called the Natchez & Southern, is a single-track, standard-gage, steam railroad, located within the city limits of Natchez, Miss. The company performs a switching service only and serves local industries. The owned mileage extends from a connection with the Natchez and Louisiana Railway Transfer Company's incline on the bank of the Mississippi River to a connection with the Yazoo and Mississippi Valley Railroad Company's joint track at Broadway and Washington Streets. The Natchez & Southern owns and uses 2.733 miles of main track and 1.964 miles of yard tracks and sidings. The road thus embraces 4.697 miles of all tracks.

Introductory

The Natchez & Southern is a corporation of Mississippi, having its principal office at St. Louis, Mo. It is controlled by the Missouri Pacific Railroad Company through stock ownership. The records reviewed do not indicate that this company controls any common-carrier corporation. The property was operated by its own organization from the date acquired by it to December 31, 1917. Since January 1, 1918, it has been operated by the United States Railroad Administration.

Corporate History

The Natchez & Southern was incorporated December 17, 1902, under the general laws of Mississippi, for the purpose of acquiring and operating that portion located in Mississippi of the property formerly owned by the New Orleans and Northwestern Railway Company (of 1890). Pursuant to the above purpose, the Natchez & Southern acquired the property mentioned. This company, itself, the New Orleans and Northwestern Railway Company (of 1890) mentioned above, together with the latter company's predecessors, total four corporations and comprise the line of corporate succession culminating in the Natchez & Southern as at present constituted. The respective dates of incorporation, and for each predecessor the date of succession, the immediately succeeding corporation, and the manner of succession, follow.

1. Natchez & Southern Railway Company. Under general laws of Mississippi, December 17, 1902.
2. New Orleans and Northwestern Railway Company (of 1890). General laws of Louisiana and special act of Mississippi through articles of consolidation dated December 27, 1889, filed in Louisiana January 16, 1890, and recognized by special act of Mississippi, on February 19, 1890. Sold after foreclosure on September 20, 1902; Mississippi property sold to E. G. Merriam who transferred title to Natchez & Southern on December 29, 1902; Louisiana property acquired by New Orleans & Northwestern Railroad Company, now a predecessor of the Missouri Pacific Railroad Company.
3. New Orleans and Northwestern Railway Company (of 1884). Special act of Mississippi approved March 14, 1884. Consolidated January 16, 1890, with 4 to form 2.
4. New Orleans, Natchez and Fort Scott Railway Company. General railroad laws of Louisiana August 10, 1886. Consolidated January 16, 1890, with 3 to form 2.

Development of Fixed Physical Property

The railroad property owned by the Natchez & Southern was acquired by it through purchase from E. G. Merriam on December 29, 1902. The property was formerly a part of that owned by the New Orleans and Northwestern Railway Company (of 1890), which had constructed it during 1890.

Leased Railway Property

The Natchez & Southern on December 31, 1917, had arrangements with other companies covering the sole or joint use of property, to the extent indicated in the statement below. These arrangements were continued by the United States Railroad Administration from January 1, 1918, to date of valuation. The description of the property, the period and terms of use, and the rentals accrued and charged or credited to income for the year ending on date of valuation, are as follows:

	Rentals
Solely owned, but not used, used by various lessees—
Tracts of land.	$235.00
Solely owned, but jointly used, used with—
The Yazoo and Mississippi Valley Railroad Company, certain tracks and other facilities in Natchez, Miss.; agreement running from Feb. 10, 1917, until canceled annual rental of $4,400, plus one-half of 5 per cent on additions and betterments; operating expenses divided on a wheelage basis, and taxes paid one-half by each company.	4,400.04
Jointly used, but not owned, owned by—
Mississippi Central Railroad Company, certain sidetracks and other passenger terminal facilities in Natchez, Miss.; agreement perpetual from June 9, 1910; annual rental of 2.5 per cent per annum on the agreed valuation; operating expenses and taxes are divided on wheelage basis.	1,570.70
Natchez and Louisiana Railway Transfer Company, ferry facilities, Natchez, Miss., jointly used with three other companies; agreement running from Feb. 10, 1917, until canceled; annual rental based on valuation; operating expenses divided on wheelage basis, and taxes paid one-fourth by each using company.	787.42