Wikipedia:WikiProject Trains/ICC valuations/Oklahoma Belt Railroad

Interstate Commerce Commission, Valuation Reports, Volume 34

Oklahoma Belt Railroad

Location and General Description of Property

The railroad of the Oklahoma Belt Railroad Company, herein called the Oklahoma Belt Railroad, is a single-track switching and terminal line located at Oklahoma City, Okla., comprising 3.848 miles of road.

Introductory

The Oklahoma Belt Railroad is a corporation of the State of Oklahoma, having its principal office at Oklahoma City, Okla.

At the date of valuation no books of account had been opened by the Oklahoma Belt Railroad. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from its minute book and from the records of the contractor who constructed its property.

The Oklahoma Belt Railroad is controlled by Norman G. Collins, of Chicago, Ill., through ownership of a majority of its outstanding capital stock. On the other hand, the records reviewed do not indicate that this company controls any common-carrier corporation.

The property of the Oklahoma Belt Railroad was operated by the Katy from the date it was placed in operation to December 31, 1917. From that date until date of valuation it has been operated by the United States Railroad Administration as part of the operating unit of the Katy.

Corporate History

The Oklahoma Belt Railroad was incorporated January 11, 1917, under the general laws of the State of Oklahoma, to construct and operate a belt and terminal railway and terminal facilities in and adjacent to the city of Oklahoma City, Okla. The date of organization of the Oklahoma Belt Railroad was January 12, 1917.

Development of Fixed Physical Property

The owned mileage of the Oklahoma Belt Railroad, 3.848 miles, was all acquired by construction during the period February, 1917, to August, 1917. The construction work was performed by the Katy under supervision of C. E. Smith and Company of St. Louis.

Leased Railway Property

The entire property of the Oklahoma Belt Railroad is leased to the Katy for the period of the Katy receivership, or for a period of 10 years from April 1, 1917, if adopted by the Katy or its successors. The terms of the lease and the rental accrued for the year ended December 31, 1917, are given in the chapter on leased railway property in the report on the Katy.