Wikipedia:WikiProject Trains/ICC valuations/Louisiana and Arkansas Railway

Interstate Commerce Commission, Valuation Reports, Volume 133

Location and General Description of Property
The railroad of the Louisiana & Arkansas Railway Company, herein called the carrier, is a single-track, standard-gauge, steam railroad, located in Louisiana and Arkansas. The owned mileage consists of a main line extending from Hope, Ark., to Pineville, La., with branch lines from Minden to L. & A. Junction, La., and from Packton, La., to Wildsville Junction, La. The mileage operated under lease consists of a branch line extending from Wildsville Junction, La., to Concordia Junction, La. The carrier uses under trackage rights 17.89 miles of the road and bridge and ferry service of other carriers, part of which affords access to Shreveport, La., and Natchez, Miss. The carrier wholly owns and uses 345.602 miles of all tracks, jointly owns and uses 1.121 miles of all tracks, undivided, and uses but does not own 15.515 miles of all tracks, which are classified in the trackage table in Appendix 1.

Introductory
The carrier is a corporation of the State of Arkansas, having its principal office at Stamps, Ark. The records reviewed do not indicate that it is controlled by any individual or corporation, nor, on the other hand, that it controls any common-carrier corporation. The property of the carrier has been operated by its own organization during its entire life.

Corporate History
The carrier was incorporated June 10, 1902, under the general railroad laws of the State of Arkansas, for the purpose of purchasing, constructing, and operating a railroad extending from Hope, Ark., in a southerly direction to Alexandria, La., with branch lines extending from Minden to Shreveport, La., and from Packton to Jena, La. Pursuant to the above purpose, the carrier acquired the property, rights, and franchises of the Louisiana & Arkansas Railroad Company and of the Minden East & West Railway Company. The carrier itself, and those corporations, together with their predecessors, total five different corporations, and comprise the line of corporate succession culminating in the carrier as at present constituted. The following chart shows the names of the corporations, the respective dates of incorporation, and for each predecessor the date of succession, the immediately succeeding corporation, and the manner of succession. Reference to each of these corporations is made in the last column by its respective number shown in the first column.

Development of Fixed Physical Property
The owned mileage of the carrier, 273.383 miles, was acquired hereunder: The construction work of the carrier was all performed by the Stamps Construction Company, which controlled the carrier through ownership of a majority of the capital stock acquired under the construction contract.

Leased Railway Property
The carrier uses on date of valuation facilities owned by other companies and other companies use facilities owned by the carrier to the extent indicated in the statement below. 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 on date of valuation are as follows: The carrier owns certain telegraph and telephone property along its road consisting of wire and connections therefor, which are erected on poles owned by the Cumberland Telephone & Telegraph Company, Southwestern Telegraph and Telephone Company, and The Western Union Telegraph Company. Under the terms of a contract effective for 20 years from March 25, 1914, and terminable by either party on one year's written notice, the carrier granted to the Cumberland Telephone & Telegraph Company the right to construct, operate, and maintain its telegraph line on the railroad right of way, and agreed to pay $6,500 in cash and to furnish the use of certain equipment and services in connection with the construction thereof. In return the carrier acquired the right to erect one cross-arm on the poles of the Cumberland Telephone & Telegraph Company and to place its wires thereon. Each company bears the expense of maintaining its own property. No rental is named in the contract. A contract similar in terms and conditions to the one above except that it provides a cash payment of $1,500, was entered into under date of March 25, 1914, by the carrier and the Southwestern Telegraph and Telephone Company. By contract dated May 31, 1888, between the Minden Railroad and Compress Company, a predecessor of the carrier, and The Western Union Telegraph Company, the latter acquired the right to build its telegraph line along the right of way of the railroad company and The Western Union Telegraph Company granted to the Minden Railroad and Compress Company the right to attach one wire to its poles. No rental is named in the contract.

Louisiana & Arkansas Railroad
The records reviewed do not indicate that the Louisiana & Arkansas Railroad Company was controlled by any individual or corporation on August 20, 1902, the date of merger, nor, on the other hand, that it controlled any common-carrier corporation. The property of this company was operated by its own organization from some time during the year 1899, until the date of merger. The railroad owned and operated by the company on date of merger was a single-track, standard-gauge, steam railroad, extending from Stamps, Ark., to Sibley, La., 125.18 miles. Of this road it had acquired 22.25 miles from the Arkansas, Louisiana & Southern Railway Company, 38.1 miles from the Bodcaw Lumber Company, and 64.83 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 report on the carrier.

Arkansas, Louisiana & Southern Railway
No accounting records were obtained for this company. Therefore, no information can be given from its accounts regarding financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from the report on corporate history filed by the carrier. The records reviewed do not indicate whether this company was controlled by any individual or corporation on June 14, 1900, the date of sale, nor, on the other hand, whether it then controlled any common-carrier corporation. No information was obtained regarding the operation of the property of this company prior to the date of sale, which on that date consisted of approximately 22 miles of railroad extending from Cotton Valley to Sibley, La., of which approximately 5 miles was acquired from the Minden Railroad & Compress Company and the remaining 17 miles through construction. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the carrier.

Minden Railroad & Compress
No accounting records were obtained for this company. Therefore, no information can be given from its accounts regarding financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from the report on corporate history filed by the carrier. The records reviewed do not indicate whether this company was controlled by any individual or corporation on July 9, 1898, the date of sale, nor, on the other hand, whether it then controlled any common-carrier corporation. No information was obtained regarding the operation of the property of this company prior to the date of sale, which on that date consisted of approximately 5 miles of railroad extending from Minden to Sibley, La. It was acquired by construction, the details regarding which are given in the chapter on development of fixed physical property in the report on the carrier.

Minden East & West Railway
No accounting records were obtained for this company. Therefore, no information can be given from its accounts regarding financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from the report filed by the carrier on its corporate history. The records reviewed do not indicate whether this company was controlled by any individual or corporation on March 10, 1909, the date of sale, nor, on the other hand, whether it then controlled any common-carrier corporation. According to the report filed by the carrier on its corporate history, this property was operated as a logging road prior to the date of sale, and on that date consisted of approximately 8 miles of railroad extending from Minden, La., westwardly in the direction of Shreveport, La. It was acquired by construction, the details regarding which are given in the chapter on development of fixed physical property in the report on the carrier.