Wikipedia:WikiProject Trains/ICC valuations/Montana, Wyoming and Southern Railroad

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The railroad of the Montana, Wyoming & Southern Railroad Company, herein called the carrier, is a single-track, standard-gauge, steam railroad, located in the southern part of Montana. The owned mileage extends in a southwesterly direction from Bridger to Washoe, Mont., 25.199 miles. The carrier also owns and uses 4.674 miles of yard tracks and sidings. Its road thus embraces 29.873 miles of all tracks.

The carrier was incorporated July 31, 1909, under the general laws of the State of New Jersey, for the purpose of constructing, purchasing, or leasing, and operating railroads. It was organized August 3, 1909. The carrier acquired by purchase, on September 1, 1909, the property, rights, and franchises of the Yellowstone Park Railroad Company, which had been incorporated May 1, 1905, under the general laws of the State of Maine, for the purpose o£ constructing and operating a railroad to extend from Bridger to Cooke City, Mont., about 125 miles. The date of its organization was not determined. The property rights, and franchises of the Yellowstone Park Railroad had been sold, and conveyed by deed dated July 1, 1909, to a committee of stockholders and bondholders, which on September 1, 1909, conveyed the property by deed to the carrier.
 * CORPORATE HISTORY

The owned mileage of the carrier was all acquired by purchase on September 1, 1909, from a committee of stockholders and bondholders of the Yellowstone Park Railroad. That company had constructed and placed in operation in 1906 an undetermined portion of its railroad and had completed the remainder of the road during the period from 1906 to 1909.
 * DEVELOPMENT OF FIXED PHYSICAL PROPERTY


 * HISTORY OF CORPORATE FINANCING

No general books of the Yellowstone Park Railroad Company were obtained but certain books purporting to be records of the results of corporate operations for the period November, 1906, to September,[sic] 1, 1909, the date the property of the company was conveyed by the committee of stockholders and bondholders to the carrier, were obtained. The information obtained from such accounting records, together with information obtained from other sources regarding its financial dealings, corporate operations, and investments, is given below. The records reviewed do not indicate whether the company was controlled by any individual, association, or company on July 1, 1909, the date of sale, nor on the other hand, whether it then controlled any common-carrier corporation.
 * Predecessor Company
 * YELLOWSTONE PARK RAILROAD COMPANY

The property of this company was operated by its own organization from the date it was placed in operation to the date of sale. The accounting records reviewed recorded operations to September 1, 1909. The property consisted of about 25 miles of railroad extending from Bridger to Washoe, all in Montana. The property was acquired by construction.

The carrier states in its report upon its corporate history that the Yellowstone Park Railroad's authorized capital stock was $3,000,000 par value,