Wikipedia:WikiProject Trains/ICC valuations/Chicago, St. Louis and New Orleans Railroad

Interstate Commerce Commission, Valuation Reports, Volume 46

Location and General Description of Property
The railroad of Chicago, St. Louis and New Orleans Railroad Company, hereinafter called the Chicago, St. Louis and New Orleans, is partly single and partly double track, located in the States of Indiana, Kentucky, Tennessee, Alabama, Mississippi, and Louisiana. The main line extends from East Cairo, Ky., to New Orleans, La. An additional main line extends from Fulton, Ky., via Memphis, Tenn., to Memphis Junction, Miss., and branch lines to Louisville, Ky., and other points. It wholly owns but does not use 1,422.768 miles of road. In addition, other road mileage, shown in appendix 1, is jointly owned with other carriers; 1.449 miles of yard and side tracks are leased to Kentwood & Eastern Railway Company.

Introductory
The Chicago, St. Louis and New Orleans is a corporation of the States of Kentucky, Tennessee, Mississippi and Louisiana, having its principal office at Chicago, Ill. It is controlled by the Illinois Central through stock ownership. It controls through ownership of the capital stock the Canton, Aberdeen and Nashville. The last-named company is operated by the Illinois Central, under lease.

The property of the Chicago, St. Louis and New Orleans has been operated by the Illinois Central since January 1, 1883.

Corporate History
The Chicago, St. Louis and New Orleans was formed by the consolidation of the New Orleans, Jackson and Northern Railroad Company and The Central Mississippi Railroad Company. Special acts approving the consolidation were passed in Mississippi, February 27, 1878; Louisiana, March 13, 1878; Kentucky, March 27, 1880; Tennessee, April 7, 1881.

The Chicago, St. Louis and New Orleans, itself, the 2 consolidating companies, together with their predecessors total 36 different companies, 5 of which underwent a change of name, and comprise the line of corporate succession, culminating in the Chicago, St. Louis and New Orleans 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, follows:

Development of Fixed Physical Property
The recorded mileage owned by the Chicago, St. Louis and New Orleans amounts to 1,435.690 miles, of which 563 miles was acquired by consolidation in 1878, 816 miles by purchase, and 56.690 miles by construction. The inventoried mileage is 1,422.768 miles. Further details with respect to the construction of the property are given in the accounting report.

Included in the total mileage is 1 mile of main track known as the Bluff City Belt Line, which is owned jointly with Louisville and Nashville Railroad Company and The Yazoo and Mississippi Valley Railroad Company, the interest of the Chicago, St. Louis and New Orleans being 50 percent.

Leased Railway Property
The railroad extending from Princeton to Gracey, Ky., about 21 miles, owned by the Louisville and Nashville Railroad Company is leased to the Chicago, St. Louis and New Orleans under indenture dated June 26, 1892, for a term of 99 years, at an annual rental of $12,039.70, being 5 percent on the estimated property valuation of $240,794.25. In addition to the rent the lessee maintains the property and pays all taxes. The Illinois Central operates this property under lease dated June 21, 1898, and a subsequent lease of December 1, 1913.

On December 1, 1913, the Chicago, St. Louis and New Orleans leased all of its property to the Illinois Central for a term of 400 years, at the same time canceling all prior leases except one dated June 13, 1882, which covers all lines of the former in the State of Mississippi, and expires July 1, 2282. As rental consideration the Illinois Central maintains the property, pays all taxes and interest on bonds of the Chicago, St. Louis and New Orleans. In the acquisition of the capital stock of the latter, the Illinois Central issued its 4 percent leased lines stock certificates at par and pays to the holders thereof dividends at the rate of 4 percent per annum, which is considered by the Illinois Central as part of the rental paid.

New Orleans, Jackson and Northern Railroad
This company was a corporation of the States of Louisiana and Mississippi. Its articles of incorporation were approved by the legislative bodies of those States, March 13, 1878, and February 27, 1878, respectively. No accounting records of the company were obtained. However, certain data given below were obtained from other sources.

The company owned on date of consolidation, November 7, 1877, about 225 miles of single-track railroad, extending from Canton, Miss., to New Orleans, La., about 206 miles, and from Aberdeen Junction to Kosciusko, Miss., about 19 miles, all acquired by purchase from the New Orleans, St. Louis and Chicago Railroad Company.

New Orleans, St. Louis and Chicago Railroad
Introductory

This company was incorporated through articles of consolidation dated April 13, 1874. The consolidation was authorized by special acts of Mississippi and Louisiana, April 18, 1873, and March 7, 1874, respectively, and was approved by the stockholders of the consolidating companies, July 3, 1874. The articles of consolidation were filed in Tennessee July 10, 1874, and were approved by special act of Kentucky February 23, 1876.

The company's property was operated by its own organization from the date acquired to the date receiver was appointed, March 11, 1876. From the latter date to December 31, 1876, the property, excepting the line of road lying within the State of Tennessee, was operated by the receiver. The State of Tennessee operated the property within that State upon default in interest payments on the bonds issued by that State to one of the constituent companies and guaranteed by the company. That part of the road acquired at consolidation from the New Orleans, Jackson and Great Northern Railroad Company was turned over to the trustees of the consolidated mortgage on January 1, 1877, who operated the line to March 31, 1877, on which date the bondholders agreed to turn the property over to a purchasing committee, who operated it until date of sale, May 16, 1877. That part of the road acquired at consolidation from the Mississippi Central Railroad Company (of 1859) was also turned over to the trustees of the consolidated mortgage on January 1, 1877, who operated it until September 11, 1877, when, by agreement of the bondholders, the property was turned over to a purchasing committee who operated it to date of sale, November 6, 1877. The operations of the property of the company were continued in its books to December 31, 1877.

The company owned about 565 miles of single-track railroad, extending from New Orleans, La., to Fillmore, Ky., about 544 miles, with a branch line from Aberdeen Junction to Kosciusko, Miss., about 21 miles.

Development of Fixed Physical Property

Of the 565 miles of road owned by the company, it had acquired 225 miles from the New Orleans, Jackson and Great Northern Railroad Company, 338 miles from the Mississippi Central Railroad Company (of 1859), and 2 miles by construction, the latter being uncompleted on date of sale.

New Orleans, Jackson and Great Northern Railroad
Introductory

This company was a corporation of the States of Louisiana, Mississippi, and Tennessee. Special acts of the legislatures, of those States provided for its incorporation were enacted April 22, 1853, February 25, 1852, and March 11, 1852, respectively, but it actually came into existence as early as April 1851 when its incorporators entered into provisional arrangements for its incorporation and with an organization established, subscriptions to capital stock were accepted and preliminary survey work was carried on.

The company owned on July 3, 1874, the effective date of consolidation about 225 miles of single-track railroad, composed of a main line extending northerly from New Orleans, La., to Canton, Miss., 206 miles, and a branch extending from Aberdeen Junction to Kosciusko, Miss., 19 miles.

Development of Fixed Physical Property

All the road owned was acquired by construction, part by contractors and part by company force. There was also completed the partially graded line between Canton and Jackson, Miss., which was acquired from the Canton and Jackson Railroad Company. Certain construction work was accomplished on a line extending northeasterly from Canton, Miss., which was later abandoned. The company lost considerable of its property during the Civil War. Rehabilitation of the property was started immediately after the war. Further details are given in the accounting report.

Canton and Jackson Railroad
This company was incorporated by special act of the Legislature of Mississippi approved February 5, 1841. Its property consisted of a partially graded railroad between Canton and Jackson, Miss. No accounting records of the company were obtained.

Canton, Kosciusko, Aberdeen and Tuscumbia Railroad
This company was incorporated under special act of the Legislature of Mississippi approved on March 3, 1852. It owned no physical property. No accounting records of the company were obtained.

Mississippi Central Railroad (of 1859)
This company was a corporation of the States of Mississippi, Tennessee, and Kentucky, and was formed March 2, 1859, by the consolidation of the Mississippi Central Railroad Company (of 1852), and The Mississippi Central and Tennessee Railroad Company. Its property consisted of about 338 miles of single-track, standard-gage railroad, extending from Fillmore, Ky., to Canton, Miss. The property was operated under lease dated April 25, 1868, by the Southern Railroad Association, a holding company. No accounting records of the company were obtained.

Of the 338 miles of road owned by the company, it had acquired 101 miles by construction, 185 miles from the Mississippi Central Railroad Company (of 1852), and 52 miles from The Mississippi Central and Tennessee Railroad Company. The line acquired by construction was built for the company by the Southern Railroad Association. Details with respect to construction are given in the accounting report.

Mississippi Central Railroad (of 1852)
This company was incorporated under the laws of Mississippi by special act of the legislature approved March 10, 1852. It owned about 185 miles of single track railroad, extending from Canton, Miss., to Grand Junction, Tenn., near the Mississippi-Tennessee State line, which was constructed in 1855 to 1860. No accounting records of the company were obtained.

The Mississippi Central and Tennessee Railroad
This company was incorporated under special act of the Legislature of Tennessee approved November 30, 1853. Its property consisted of about 52 miles of single-track, standard-gage railroad, extending from a point of connection with the Mississippi Central Railroad Company (of 1852) at Grand Junction, Tenn., near the Mississippi-Tennessee State line, to Jackson, Tenn., and was constructed during the years 1855 and 1856. No accounting records of the company were obtained.

The Central Mississippi Railroad
Articles of incorporation of this company dated November 5, 1877, were filed in Mississippi November 6, 1877, in Tennessee November 6, 1877, and in Kentucky November 8, 1877. The articles were approved by the legislative bodies of those States February 27, 1878, April 7, 1881, and March 27, 1880, respectively. No accounting records were obtained.

The company owned about 338 miles of single-track railroad, extending from Fillmore [sic - Fulton], Ky., to Canton, Miss., which was acquired from Wm. H. Osborn, and others, who had acquired it at foreclosure sale on September 11, 1877, from the New Orleans, St. Louis and Chicago Railroad Company.

New Orleans Belt Railroad, formerly named Commercial Transit Company
This company was incorporated July 10, 1877, under the laws of Louisiana as the Commercial Transit Company. On August 30, 1878, its name was changed to the New Orleans Belt Railroad Company. None of the accounting records were obtained.

The property of the company was operated by the Chicago, St. Louis and New Orleans under lease dated April 30, 1877, until date of sale, September 29, 1886.

The company owned about 5 miles of track of standard-gage railroad classified as yards and sidings, located in New Orleans, La. Part of its line was acquired in 1878 by purchase from the New Orleans & Carralton Railroad Company for $7,500 and the remainder was constructed by or for the company out of funds advanced by the Illinois Central through the Chicago, St. Louis and New Orleans.

Mississippi & Tennessee Railroad
This company was incorporated under special act of the Legislature of the State of Mississippi approved October 16, 1852, and by special act of the General Assembly of the State of Tennessee approved December 5, 1853.

The property was operated by the company's own organization from March 1856 to February 1, 1888, and from the latter date to February 15, 1889, the date of sale, by the Illinois Central.

The company owned about 99 miles of single-track, standard-gage railroad, extending from Memphis, Tenn., to Memphis Junction near Grenada, Miss., all of which was acquired by construction. During the Civil War considerable of the property of the company was destroyed and a portion of its mileage was reconstructed. Further details are given in the accounting report.

Chesapeake, Ohio & Southwestern Railroad
This company was incorporated in Tennessee August 24, 1881, under the general laws, and in Kentucky under a special act, approved January 18, 1882.

The company's organization operated its own line from August 9, 1881, and a leased line from December 28, 1881, to February 1, 1886, on which date all the property was leased to the Newport News & Mississippi Valley Company for operation. On August 1, 1893, the property reverted to the company and was again operated by it until January 1, 1894, when receivers were appointed who operated the property to July 31, 1896. From the latter date to September 15, 1897, it was operated by the Illinois Central as agent but no income was recorded in the accounts of the company. The company owned on date of sale, September 15, 1897, about 349 miles of single-track, standard-gage railroad, extending from Elizabethtown, Ky., to Memphis, Tenn., of which it had acquired 112 miles by the reorganization of the Memphis, Paducah & Northern Railroad Company, 183 miles from the Paducah & Elizabethtown Railroad Company, and 54 miles by construction. Details with respect to the construction of this property are given in the accounting report.

The property operated under lease consisted of a line of railroad extending from Cecilia Junction to Louisville, Ky., about 46 miles, owned by the Louisville and Nashville Railroad Company.

Paducah & Elizabethtown Railroad
This company was incorporated January 13, 1877, under special act of the Kentucky Legislature, approved March 1, 1876. It acquired by purchase February 1, 1877, about 183 miles of single-track railroad, extending from Elizabethtown to Paducah, Ky., from the purchasing committee of the bondholders of that part of the line formerly owned by the Louisville, Paducah & Southwestern Railroad Company, which had been sold at foreclosure sale on August 24, 1876. None of the accounting records of the company were obtained. The records of its successor, the Chesapeake, Ohio & Southwestern Railroad Company, however, disclose that $500,000 par value of its first-mortgage bonds of 1897 were assumed by that company.

Louisville, Paducah & Southwestern Railroad, formerly named Elizabethtown & Paducah Railroad
This company was incorporated by special act of the Kentucky Legislature, approved March 5, 1867, as the Elizabethtown & Paducah Railroad Company. By amendment to the act approved February 23, 1874, the name was changed to the Louisville, Paducah & Southwestern Railroad Company. No accounting records of the company were obtained.

The company owned about 229 miles of single-track, standard-gage railroad, extending from Elizabethtown to Paducah, Ky., 183 miles, with a branch from Cecilia Junction to Louisville, Ky., 46 miles. The line from Elizabethtown to Paducah, Ky., was opened for operation September 6, 1872, and the Cecilia Branch on September 1, 1874.

Memphis, Paducah & Northern Railroad
This company was incorporated by special act approved by the Governor of Kentucky March 25, 1878. Articles of incorporation were filed in Tennessee May 27, 1878. No accounting records of the company were obtained.

It owned about 112 miles of single-track railroad, of which 73 miles extended from Paducah, Ky., to Trimble, Tenn., and 37 miles from Covington to Memphis, Tenn.

All of this property, together with a partially graded right-of-way from Trimble to Covington, Tenn., was acquired from Henry W. Smithers and others, who had acquired it at a foreclosure sale April 30, 1877, from the Paducah & Memphis Railroad Company.

Paducah & Memphis Railroad
This company was incorporated in Kentucky through articles of consolidation filed January 9, 1872, approved by act of the Kentucky Legislature, March 9, 1871. No accounting records of the company were obtained.

The company owned about 112 miles of single-track railroad, extending from Paducah, Ky., to Trimble, Tenn., about 73 miles, and Covington to Memphis Tenn., about 39 miles. It also owned some uncompleted road between Trimble and Covington, Ky., which was acquired in the consolidation from the Mississippi River Railway Company. Of the 112 miles of completed road owned, the company had acquired 50 miles in the consolidation, from the Paducah and Gulf Railroad Company, 9 miles by purchase from the New Orleans and Ohio Railroad Company, and 53 miles by construction. Details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Chicago, St. Louis and New Orleans.

Mississippi River Railway - Predecessor of Paducah & Memphis Railroad
This company was incorporated under the laws of Tennessee January 29, 1858, and of Kentucky February 28, 1860, with subsequent amendments in each State. No accounting records of the above-named company were obtained.

Some grading and bridge work in Tennessee was all that had been completed by the company. Further details are given in the accounting report on the Illinois Central.

Paducah and Gulf Railroad - Predecessor of Paducah & Memphis Railroad
This company was incorporated by a special act of the Kentucky Legislature February 26, 1869, amended March 9, 1871. No accounting records of the company were obtained.

It owned about 50 miles of single-track railroad, extending from Paducah, Ky., to the State line of Tennessee, of which about 45 miles was acquired by purchase January 1, 1872, from Ex-Norton who had acquired it at foreclosure sale on February 8, 1869, from the New Orleans and Ohio Railroad Company, a Kentucky corporation. The company constructed the line from Gibbs, Tenn., to Troy, Tenn., about 5 miles, in 1873. It also operated, under lease, the railroad from the State line of Tennessee to Gibbs, Tenn., the property of the New Orleans and Ohio Railroad Company, a Tennessee corporation.

New Orleans and Ohio Railroad - Predecessor of Paducah and Gulf Railroad
This company was incorporated January 9, 1852, by act of the Kentucky Legislature. No accounting records of the company were obtained.

It owned about 45 miles of single-track railroad, extending from Paducah, Ky., to the Kentucky-Tennessee State line, where it connected with another company of the same name, a Tennessee corporation. The first section of road from Paducah to Hickory was placed in operation in the fall of 1854, from Hickory to Mayfield in 1855, and from Mayfield to the Tennessee State line in 1858.

New Orleans and Ohio Railroad - Predecessor of Paducah & Memphis Railroad
This company was incorporated April 19, 1866, by special act of the general assembly of the State of Tennessee. No records of the company were obtained. It owned about 9 miles of single-track railroad, extending from the Kentucky-Tennessee State line to Gibbs, Tenn., all of which was acquired by construction.

On February 11, 1869, the road was leased to Ex-Norton and associates, which lease was subsequently taken over by the Paducah and Gulf Railroad Company.

Owensboro, Falls of Rough and Green River Railroad
This company was incorporated April 24, 1882, by special act of the Legislature of the State of Kentucky. The charter was accepted on September 19, 1887.

The property was operated by the company's own organization from October 1, 1889, to March 31, 1894; from April 1, 1894, to April 30, 1897, by receiver; and from May 1, 1897, to September 15, 1897, date conveyed to successor, by the purchaser at foreclosure sale.

The company owned on April 21, 1897, the date of sale, about 42 miles of standard-gage, single-track railroad, extending from Owensboro to Horse Branch, Ky. This property was all acquired by construction. Further details are given in the accounting report.

Short Route Railway Transfer Company
This company was incorporated March 5, 1873, by special act of the Legislature of the State of Kentucky.

Its property was operated by the Chesapeake, Ohio & Southwestern Railroad Company and its lessee, the Newport News & Mississippi Valley Company, from May 14, 1884, to January 1, 1894, when a receiver was appointed, who operated it until May 31, 1897, from which date it was operated by the Illinois Central, as agent, until September 15, 1897. The company owned about 2 miles of double-track, standard-gage railroad and terminal facilities in Louisville, Ky., all acquired by construction which was begun in the spring of 1883 and completed May 14, 1884. The work was performed by the Vulcan Contract and Improvement Company under contract of January 20, 1883.

Ohio Valley Railway, formerly named Ohio Valley Railroad, originally named South Kentucky Railroad
This company was incorporated as South Kentucky Railroad Company March 15, 1871, by special act of the Legislature of the State of Kentucky. By amendments to the articles of incorporation, its name was changed to the Ohio Valley Railroad Company on March 16, 1886, and to the Ohio Valley Railway Company on April 6, 1886. None of the accounting records were obtained.

The property was operated by the company's own organization from date of acquisition to March 6, 1891; from March 6, 1891, to January 1, 1894, by the Chesapeake, Ohio & Southwestern Railroad Company, under an agreement for the benefit of the bondholders, and from the latter date to July 6, 1897, the date of sale by John Macleod, as receiver.

The company owned about 118 miles of standard-gage railroad, the main line of which extended from Henderson to Princeton, Ky. It also operated under a lease, dated January 26, 1892, about 21 miles of road between Princeton and Gracey, Ky., owned by the Louisville and Nashville Railroad Company. Of the 118 miles of road owned, 38 miles were acquired from the Ohio Valley Coal and Mining Company, and 80 miles were acquired by construction. Details are given in the accounting report.

Ohio Valley Coal and Mining Company, formerly named Ohio Valley Railroad and Mining Company
This company was incorporated April 20, 1882, by special act of the Legislature of the State of Kentucky, and by an amendment to its charter its name was changed to the Ohio Valley Coal and Mining Company on March 16, 1886. No accounting records of these companies were obtained.

The road owned consisted of about 38 miles of single-track, standard-gage railroad from Henderson to De Koven, Ky., all acquired by construction under an agreement dated September 25, 1885, with the Western Contract Company. Work began April 1, 1886, and the line was opened for operation September 1, 1886.

Ohio Valley Railway and Terminal Company
This company was incorporated August 2, 1888, under the general laws of Indiana. As nearly as can be determined, no construction work was done by the company. No accounting records were obtained.

The Kentucky Western Railway
This company was incorporated September 7, 1899, under the general laws of Kentucky. None of its accounting records were obtained. However, certain data given below were obtained from other sources. The company owned about 19 miles of single-track, standard-gage railroad, extending from Blackford to Dixon, Ky., all acquired by construction under a contract dated September 7, 1899, with the Southern Construction Company of St. Louis, Mo. The road was opened for operation in January 1901.

An agreement with the contractor provided for the construction of the railroad complete, except right-of-way and lands, for $200,000 of first-mortgage bonds and $70,000 of capital stock.

The Hodgenville and Elizabethtown Railway
This company was incorporated April 8, 1884, in the interest of the Chesapeake, Ohio & Southwestern Railroad Company, by a special act of the Legislature of the State of Kentucky.

The property was operated by the Newport News & Mississippi Valley Company, lessee of the Chesapeake, Ohio & Southwestern Railroad Company, from March 1888 until August 1, 1893. From the latter date, the last-named company and its receivers operated the property until July 25, 1896, after which date the Illinois Central operated it, as agent.

The company owned on date of sale, October 18, 1902, about 11 miles of single-track, standard-gage railroad, extending from Hodgenville to Elizabethtown, Ky. This property was all acquired by construction which began in July 1887 and was completed in March 1888 under contract with the Kentucky Paving and Contract Company.

The Troy and Tiptonville Railroad
The company was incorporated December 7, 1887, under the general laws of Tennessee. No entries appear in the records of the company after June 30, 1902. The results of operations after that date are included in the accounts of the Illinois Central.

The company was controlled on February 25, 1903, the date of sale, by the Illinois Central through ownership of a majority of its capital stock.

The property was operated by the Newport News & Mississippi Valley from July 18, 1888, to July 31, 1893, from which date it was operated by the Chesapeake, Ohio & Southwestern Railroad Company until July 1896 when the Illinois Central acquired control and operated the property, as agent, until April 27, 1903.

The company owned about 4 miles of single-track, standard-gage railroad, extending from Moffat to Troy, Tenn., all acquired by construction during the years 1887–88.

Paducah Union Depot Company
This company was incorporated February 18, 1888, by special act of the Legislature of the State of Kentucky in the interest of the St. Louis, Alton and Terre Haute Railroad Company and the Chesapeake, Ohio & Southwestern Railroad Company.

The property was operated by the company's own organization from the date construction was completed to July 1, 1898, and from the latter date to March 21, 1913, the date of sale, by the Illinois Central under lease. The results of corporate operations subsequent to June 30, 1910, are not stated in the company's records.

The company owned about 1 mile of single-track, standard-gage railroad, together with passenger and freight terminals in Paducah, Ky., all acquired by construction begun in the latter part of 1888, under contract with the Newport News & Mississippi Valley Company, and completed about October 10, 1889.

Canton, Aberdeen and Nashville Railroad in Alabama
This company was incorporated September 26, 1898, under the general laws of Alabama, and was controlled on December 1, 1913, the date of sale, by the Illinois Central, through ownership of its capital stock, which was held by the Mississippi Valley Corporation, a holding company of the Illinois Central. The company owned about 9 miles of single-track, standard-gage railroad, extending from Winfield to Brilliant, Ala., which had been acquired by construction. Further details are given in the accounting report.

The property of the company was operated under lease, during its entire life, by the Illinois Central, and the results of such operations are included in the accounts of that company.

This company was organized and promoted in the interest of the Illinois Central, which advanced the necessary funds for its construction.

Memphis and State Line Railroad
This company was incorporated July 21, 1903, under the general laws of Tennessee, and was controlled on June 30, 1908, the date of sale by the Illinois Central.

During the entire life of the company its property was operated under lease by the Illinois Central and the results of such operations are included in the accounts of that company.

The company owned about 22 miles of double-track standard-gage railroad, adjacent to and in the city of Memphis, Tenn., which had been acquired by construction. Further details are given in the accounting report.

Kentucky Valley Railroad
This company was incorporated June 29, 1905, under the general laws of Kentucky. None of its accounting records were obtained. The company was controlled on December 1, 1913, the date of sale, by the Illinois Central through ownership of all of its capital stock.

The property of the company was operated by its own organization from the date its road was completed to date of sale.

The company owned or leased about 15 miles of single-track, standard-gage railroad, of which 9 miles extending from Wheatcroft to Providence, Ky., was owned and 6 miles from Wheatcroft to Blackford, Ky., was leased from the Illinois Central. All of the 9 miles of road owned was constructed under contract with the Wheatcroft Construction Company, and was opened for operation March 1, 1906.

Mississippi and Alabama Railroad
This company was incorporated September 16, 1905, under the general laws of Mississippi. It was controlled on December 1, 1913, the date of sale, by the Illinois Central through ownership of the capital stock, which was held by the Mississippi Valley Corporation, a holding company of the Illinois Central.

During its entire life the company's property was operated by the Illinois Central under lease and the results of such operations are included in the accounts of that company.

The company owned about 42 miles of single-track, standard-gage railroad, extending from Ruslor, Miss., to the Mississippi-Alabama State line, all of which was acquired by construction during the years 1905 to 1908.

This company was organized and promoted in the interest of the Illinois Central, which advanced all funds for construction.

Jackson & Southeastern Railroad
This company was incorporated September 20, 1905, under the general laws of Tennessee. It was controlled on December 1, 1913, the date of sale, by the Illinois Central through ownership of its capital stock, which was held in the name of the Mississippi Valley Corporation, a holding company of the Illinois Central.

During its entire life the company's property was operated by the Illinois Central under lease, and the results of such operations are included in the accounts of that company.

The company owned about 3 miles of single-track, standard-gage railroad extending from Frogmoor to Perry, Tenn., all of which road was acquired by construction during the years 1905–1908.

This company was organized and promoted in the interest of the Illinois Central, which advanced the necessary funds for construction.

Alabama Western Railroad
This company was incorporated October 11, 1905, under the general laws of Alabama. It was controlled on December 1, 1913, the date of sale, by the Illinois Central through ownership of its entire capital stock. The corporation is still in existence on date of valuation, though inactive.

The property of the company was operated under lease by the Illinois Central and the Mobile and Ohio Railroad Company, jointly, and the results of such operations are included in the accounts of the Illinois Central.

The company owned about 41 miles of single-track, standard-gage railroad, of which 38 miles extended from the Mississippi-Alabama State line to Haleyville, Ala., and terminals at Birmingham, Ala., included 3 miles of line. All of the road was acquired by construction during the years 1905–1908.

This company was organized and promoted in the interest of the Illinois Central, which advanced all funds for construction, through the Mississippi Valley Corporation, a holding company of the Illinois Central.