Wikipedia:WikiProject Trains/ICC valuations/Bay Minette and Fort Morgan Railroad

Interstate Commerce Commission, Valuation Reports, Volume 39

Location and General Description of Property
The railroad of the Bay Minette and Fort Morgan Railroad Company, hereinafter called the Bay Minette and Fort Morgan, likewise leased to and operated by the Louisville and Nashville, is a single-track, standard-gage line, extending southerly from Bay Minette to Foley, Ala., a distance of 36.509 miles.

Introductory
The Bay Minette and Fort Morgan is a corporation of the State of Alabama, having its principal office at Louisville, Ky. It is controlled by the Louisville and Nashville, through ownership of the entire outstanding capital stock. From May 11, 1905, when the property was completed and placed in operation, to date of valuation, it has been operated by the Louisville and Nashville, by virtue of its ownership of the entire outstanding capital stock. The Bay Minette does not maintain any accounting records nor does it file annual reports with us. Therefore, no information can be obtained from the accounts in connection with its finances, operations, investments, or original cost. Certain information shown herein has been obtained from the accounting records of the Louisville and Nashville, as indicated hereinafter.

Corporate History
The Bay Minette and Fort Morgan was incorporated under the general laws of Alabama, by filing articles of incorporation in the office of the probate judge of Baldwin County, Ala., June 21, 1904. Its organization was perfected June 21, 1904.

Development of Fixed Physical Property
The owned mileage of the Bay Minette and Fort Morgan, extending from Bay Minette to Foley, Ala., 36.509 miles, was constructed during the period from June, 1904, to May 11, 1905.

Leased Railway Property
The entire property of the Bay Minette and Fort Morgan is operated by the Louisville and Nashville, by virtue of that company's ownership of the entire outstanding capital stock of the Bay Minette and Fort Morgan. Nothing is recorded in the accounts of the Louisville and Nashville as representing rental paid for the use of the property of the Bay Minette and Fort Morgan for the year ended on date of valuation.