Wikipedia:WikiProject Trains/ICC valuations/Cincinnati, New Orleans and Texas Pacific Railway

Interstate Commerce Commission, Valuation Reports, Volume 37

Location and General Description of Properties
The railroad operated by The Cincinnati, New Orleans & Texas Pacific Railway Company, hereinafter called the Cincinnati, New Orleans & Texas Pacific, is a standard-gage, steam railroad, located in Ohio, Kentucky, and Tennessee. The main line, part of which is double tracked, extends from Cincinnati, Ohio, to Chattanooga, Tenn., a distance of about 338 miles. The other principal cities served by this road are Danville, Lexington, and Somerset, Ky.

The railroad owned by the Cincinnati, New Orleans & Texas Pacific amounts to only 5.490 miles, comprising a short branch line in Tennessee, all of which it uses. This company also owns equipment, together with lands, sidetracks, buildings, machinery, furniture, and other improvements located along its leased line.

The railroad leased by the Cincinnati, New Orleans & Texas Pacific amounts to 341.277 miles, of which 128.519 miles is double tracked, and comprises the entire main line from Cincinnati to Chattanooga. This property is owned by the city of Cincinnati, Ohio, but is known under the trade name of and is hereinafter called in this report the Cincinnati Southern Railway. Information respecting the management, financing, and accounting of the Cincinnati Southern Railway will be found in Appendix 2.

The Cincinnati, New Orleans & Texas Pacific is indirectly controlled by the Southern Railway Company, and its property is operated as a part of the Southern Railway system. Its line is a part of a through route from Cincinnati, Ohio, to New Orleans, La.

The Cincinnati, New Orleans & Texas Pacific wholly owns and uses 26.044 miles of all tracks, wholly uses but does not own 706.694 miles of all tracks, and jointly uses but does not own 0.231 undivided mile of all tracks. These tracks, consisting of first and second main tracks and yard tracks and sidings, are classified in the trackage table in Appendix 1.

Introductory
The Cincinnati, New Orleans & Texas Pacific is a corporation of the State of Ohio, having its principal office at Cincinnati, Ohio.

The Cincinnati, New Orleans & Texas Pacific is controlled by the Southwestern Construction Company through ownership of a majority of its capital stock. On the other hand, the Cincinnati, New Orleans & Texas Pacific controls, through ownership of their entire capital stock, the Harriman and Northeastern Railroad Company and the Cincinnati, Burnside & Cumberland River Railway Company, whose common-carrier properties are operated independently. It controls further, jointly with other companies, through ownership of capital stock to the extent indicated, one terminal company and one industrial company that are operated independently. The names of these companies, together with a statement showing how and the extent of the Cincinnati, New Orleans & Texas Pacific's control, are given below.

The property held under lease by the Cincinnati, New Orleans & Texas Pacific was operated by its own organization from October 12, 1881, until the receivership March 18, 1893. From the latter date to September 30, 1899, it was operated by a receiver, and from October 1, 1899, to December 31, 1917, it was operated by its own organization. On January 1, 1918, the common-carrier property of the company and that held by it under lease was taken over for operation by the United States Railroad Administration, which still operates it on date of valuation.

Corporate History
The Cincinnati, New Orleans & Texas Pacific was incorporated September 8, 1881, under the general laws of the State of Ohio, for the purpose of leasing and operating the railroad of the city of Cincinnati, Ohio, hereinafter referred to as the Cincinnati Southern Railway.

Development of Fixed Physical Property
The owned mileage of the Cincinnati, New Orleans & Texas Pacific amounting to 5.490 miles consists of improvements along leased line located in the State of Tennessee which was acquired by construction. The date when the property was constructed was not ascertained. In addition, the company owns certain equipment, shop buildings, machinery and tools, furniture and fixtures, and certain real estate, all of which was acquired by construction and additions and betterments.

Leased Railway Property
The property of the Cincinnati, New Orleans & Texas Pacific, together with the property of the Cincinnati Southern Railway that it leases, devoted to common-carrier purposes, was taken over for operation by the United States Railroad Administration on January 1, 1918, and is so operated on date of valuation.

The arrangements of the Cincinnati, New Orleans & Texas Pacific with other carriers, in effect December 31, 1917, covering the use of joint facilities have been continued by the United States Railroad Administration during the period 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 ended December 31, 1917, are as follows:

There are other facilities of minor importance, such as stations, interlockers, yard tracks and sidings, in which the Cincinnati, New Orleans & Texas Pacific grants or receives joint use, that are not listed in this chapter.