Wikipedia:WikiProject Trains/ICC valuations/Jonesboro, Lake City and Eastern Railroad

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The railroad of Jonesboro, Lake City & Eastern Railroad Company, hereinafter called the carrier, is a single-track standard-gauge steam-operated railroad, located entirely within Arkansas in the northeast corner of the State. The main line extends from Jonesboro in a general easterly direction to Barfield on the Mississippi River, a distance of 63.236 miles. Branches extend from Osceola Junction southward to Wilson, Osceola, and Luxora, aggregating in all 33.002 miles. The entire owned road mileage thus comprises 96.238 miles. In addition, the carrier owns 22.566 miles of yard track and sidings, which bring the entire owned mileage of all tracks to 118.804 miles.

Corporate history.—The carrier was incorporated April 27, 1897, for 99 years under the general law of Arkansas. On June 24, 1905, there was consolidated with it The Chickasawba Railroad Company and on February 5, 1912, the carrier absorbed by purchase the Wilson Northern Railroad Company. Further details on this subject and an account of the development of the fixed physical property are given in Appendix 2.

The carrier was incorporated April 27, 1897, for 99 years under the general laws of Arkansas. The charter contemplated a railroad from Jonesboro eastward through Nettleton to the St. Francis River near Lake City, a distance of about 15 miles, but conveyed authority permitting a greater construction, including wharves, steamers, and elevators.
 * APPENDIX 2
 * JONESBORO, LAKE CITY AND EASTERN RAILROAD COMPANY
 * CORPORATE HISTORY

On June 24, 1905, there was consolidated with the carrier the Chickasawba Railroad Company, which had built a line about 9 miles long from Blytheville, 38 miles east of Lake City, eastward to Barfield on the Mississippi River.

In September, 1905, the carrier purchased from Moore and McFerren, of Memphis, certain right of way from Osceola Junction southeastward to Osceola and adjacent points. On February 5, 1912, the carrier acquired the Wilson Northern Railway Company by purchase and combined the property with its own. With these two acquisitions, the carrier obtained rights for its line southward from Ross to Wilson.

Under its charter the carrier built between 1897 and October, 1905, that part of its present line extending from Jonesboro eastward through Nettleton, Lake City, and Osceola Junction to Blytheville, about 54 miles. The work was done in part by the carrier's own forces and in part by independent contractors. The consolidation with The Chickasawba Railroad Company in June, 1905, added about 9 miles more, thereby extending the line from Blytheville to Barfield. Under the rights acquired from Moore & McFerren in September, 1905, the carrier completed during 1906 and 1907 a branch line from Osceola Junction through Ross, about 6 miles to the southward, to Osceola, which is in turn about 10 miles southeastward from Ross, with a short branch from Midway to Luxora, both near Osceola.
 * DEVELOPMENT OF FIXED PHYSICAL PROPERTY

On February 5, 1912, the carrier acquired by purchase from the Wilson Northern Railway Company its 17 miles of line from Wilson, on the Mississippi below Osceola, northward through Keiser to Ross.

During 1914, 0.38 mile between Midway and Moore's Landing was abandoned.

On valuation date the carrier's line thus consisted of a main line from Jonesboro eastward through Nettleton, Lake City, Osceola Junction, and Blytheville to Barfield, on the Mississippi River, a total distance of about 63 miles; a branch line from Osceola Junction southward to Wilson, a distance of nearly 22 miles; and a branch from this branch line at Ross southeastward to Osceola, a distance of nearly 10 miles, with a short branch from Midway, near Osceola, to Luxora, something over 1.5 miles. In all there are 63.24 miles of main line and 33 miles of branch lines. In addition to this line mileage the carrier owns 22.57 miles of sidings. The operated mileage includes, further, 7.66 miles of sidings and spurs leased from Wilson and Company.


 * HISTORY OF CORPORATE FINANCING, CAPITAL STOCK, AND LONG-TERM DEBT

The Wilson Northern Railway Company was incorporated December 28, 1904, under the general laws of Arkansas for 50 years. The stated purpose was to build and operate a short road from Wilson northward to Keiser. Apparently, however, the purpose was to incorporate a plant facility of a lumber company controlled by R. E. Lee Wilson, who also controlled the Wilson Northern Railway Company. On February 5, 1912, the Wilson Northern Railway Company was absorbed by the carrier through purchase of its entire property.
 * Predecessor Companies
 * WILSON NORTHERN RAILWAY COMPANY
 * CORPORATE HISTORY

On January 2, 1905, the Wilson Northern Railway Company purchased from R. E. Lee Wilson about 10 miles of line extending from Wilson northward to Keiser, which had been operated by Lee Wilson and Company as a plant facility in connection with its lumber operations. Part of this property had been constructed as early as 1884. That part of the road from Keiser to Ross, about 7 miles, was built by Moore & McFerren under an agreement to convey it to the Wilson Northern Railway Company upon completion.
 * DEVELOPMENT OF FIXED PHYSICAL PROPERTY


 * HISTORY OF CORPORATE FINANCING, CAPITAL STOCK, AND LONG-TERM DEBT

The Chickasawba Railroad Company was incorporated October 13, 1902, under the general laws of Arkansas, for 99 years, to construct a road from Blytheville eastward to the Mississippi River. A line from Blytheville to Barfield, on the Mississippi River, was constructed under the name of this corporation. This road was, on June 24, 1925[sic], consolidated with the carrier's line at Blytheville, as heretofore stated. No books or other records of The Chickasawba Railroad Company could be found. Information on its affairs is limited, therefore, to the following brief data.
 * THE CHICKASAWBA RAILROAD COMPANY