Wikipedia:WikiProject Trains/ICC valuations/Missouri and North Arkansas Railroad

Interstate Commerce Commission, Valuation Reports, Volume 125

Location and General Description of Property
The railroad of Missouri and North Arkansas Railroad Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in the States of Missouri and Arkansas. The owned main line consists of two disconnected sections of road, extending southeastwardly from Neosho to Wayne, Mo., and from Seligman, Mo., to Helena, Ark., with short branches from Junction to Eureka Springs and Freeman to Berryville, Ark., a total of 335.211 miles. The carrier operates a through line by means of trackage rights from Joplin, Mo., to Helena, Ark. On date of valuation its property was operated by the United States Railroad Administration.

Corporate History
The carrier was incorporated August 6, 1906, under the general laws of the State of Arkansas, for the purpose of acquiring the property, rights, and franchises of the St. Louis and North Arkansas Railway Company, which company had been sold at foreclosure sale on June 16, 1906, and conveyed to a purchasing committee composed of John Scullin, D. R. Francis, Powell Clayton, R. C. Kerens, and John F. Shepley. The articles of incorporation were also filed in the State of Missouri on October 22, 1906. On December 1, 1905, the property, rights, and franchises of the Southeastern Railroad Company were purchased and conveyed by deed to the carrier.

On April 1, 1912, upon application of the St. Louis Union Trust Company, the trustees of the first mortgage, for default in the payment of interest on bonds, W. S. Holt, George L. Sands, and Jesse McDonald were appointed receivers, and on July 1, 1916, Festus J. Wade was made sole receiver. The property was operated by the receivers to September 24, 1918, on which date operation was taken over by the United States Railroad Administration. The principal office of the carrier is located at Harrison, Ark. The detailed facts as to the development of the fixed physical property are given in Appendix 2.

The corporations whose franchises and property have gone to make up the carrier, and the dates of the changes in those several corporations, are shown in the following table:

Development of Fixed Physical Property
The road owned by the carrier on date of valuation was acquired as follows: The construction was done under contract with the Allegheny Improvement Company. The carrier did not acquire any constructed mileage from the Southeastern Railroad Company, but under the charter of the company about 75 miles of line was constructed, extending from Leslie to Pangburn, Ark.

Leased Railway Property
Following is a statement showing the property leased from and to other companies, together with the terms of the use and the amount of rental accrued for year ended on date of valuation:

St. Louis and North Arkansas Railway Company
Introductory

The St. Louis and North Arkansas Railway Company was a corporation of the States of Arkansas and Missouri. It owned a single-track, standard-gauge railroad, extending from Seligman, Mo., to Leslie, Ark., with branches to Eureka Springs and Berryville, Ark., a distance of about 125 miles.

Corporate History

The St. Louis and North Arkansas Railway Company was incorporated May 25, 1899, under the general laws of the State of Arkansas. Articles of incorporation were also filed in the State of Missouri on October 5, 1905. On May 25, 1899, the property, rights, and franchises of the Eureka Springs Railway Company were conveyed by deed to the St. Louis and North Arkansas Railway Company, but the actual transfer was not made until January 31, 1900. The St. Louis and North Arkansas Railway Company defaulted in the payment of interest on its bonds and the property, rights, and franchises were sold at foreclosure to John Scullin, D. R. Francis, Powell Clayton, R. C. Kerens, and John F. Shepley, and conveyed to them by master's deed dated June 16, 1906. The purchasers reorganized the St. Louis and North Arkansas Railway Company under the name of the carrier on August 4, 1906, articles of incorporation being filed in the State of Arkansas on August 6, 1906.

Development of Fixed Physical Property

The owned mileage of the St. Louis and North Arkansas Railway Company was acquired as follows:

The above construction was done under contract with the Allegheny Improvement Company, an affiliated company.

Eureka Springs Railway Company
The Eureka Springs Railway Company was a corporation of the States of Missouri and Arkansas. It owned a single-track, standard-gauge railroad, extending from Seligman, Mo., to Eureka Springs, Ark., a distance of about 19 miles. The accounting records of the Eureka Springs Railway Company consist of one ledger from February, 1883, to December, 1888, inclusive, and one journal from February, 1883, to December, 1886, inclusive. The data contained in this report subsequent to January 1, 1889, were taken from its annual reports to us.

Corporate History

The Eureka Springs Railway Company was incorporated under the general laws of the States of Missouri and Arkansas, as a consolidation of the Missouri and Arkansas Railroad Company of Missouri and the Eureka Springs Railway Company of Arkansas. Articles of consolidation dated February 27, 1882, were filed in Missouri, October 27, 1883, and in Arkansas, November 1, 1883. On May 25, 1899, the property, rights, and franchises of the Eureka Springs Railway Company were conveyed by deed to the St. Louis and North Arkansas Railway Company, but the actual transfer was made as of January 31, 1900.

Development of Fixed Physical Property

The road from Seligman to Eureka Springs was constructed under contract by the Western Construction Company of Arkansas, and was opened for operation February 1, 1883.

Missouri and Arkansas Railroad Company of Missouri
The Missouri and Arkansas Railroad Company of Missouri was incorporated September 21, 1880, under the general laws of the State of Missouri, to construct a railroad from a point in the northwest portion of Barry County, Mo., to the south line of the State of Missouri, an estimated distance of 10 miles. Before any construction work had been done, it was consolidated with the Eureka Springs Railway Company of Arkansas to form the Eureka Springs Railway Company. Articles of consolidation dated February 27, 1882, were filed in Missouri October 27, 1883, and in Arkansas November 1, 1883. No accounting records of this company are obtainable.

Eureka Springs Railway Company of Arkansas
The Eureka Springs Railway Company of Arkansas was incorporated June 26, 1880, under the general laws of the State of Arkansas, to construct a railroad from the northern boundary of the State, southeasterly by way of Eureka Springs to a point on the Osage River in Carroll County, an estimated distance of 40 miles. No accounting records of this company are obtainable. Before any construction work had been done, it was consolidated with the Missouri and Arkansas Railroad Company of Missouri to form the Eureka Springs Railway Company. Articles of consolidation dated February 27, 1882, were filed in Missouri October 27, 1883, and in Arkansas November 1, 1883.

Southeastern Railroad Company
The Southeastern Railroad Company was incorporated July 17, 1905, under the general laws of the State of Arkansas, to construct a railroad from the southern terminus of the St. Louis and North Arkansas Railway Company's line southeasterly, an estimated distance of 144 miles. No accounting records of this company are obtainable. The company did not construct any mileage; however, expenditures to the amount of $24,428.58 for some right of way secured and preliminary construction work were advanced by the St. Louis and North Arkansas Railway Company and the carrier, which amount was assumed by the improvement company in connection with the contract for the construction of extensions of the carrier. On December 1, 1906, the property, rights, and franchises of the company were conveyed by deed to the carrier, and about 75 miles of road were constructed from Leslie to Pangburn by the carrier under the charter of this company.