Wikipedia:WikiProject Trains/ICC valuations/St. Louis, Brownsville and Mexico Railway

Interstate Commerce Commission, Valuation Reports, Volume 29

Location and General Description of Property
The railroad of The St. Louis, Brownsville & Mexico Railway Company, herein called the St. Louis, Brownsville & Mexico, is a single-track, standard-gage, steam railroad, located in southeastern Texas. The main line extends in a northeasterly direction from Brownsville, Tex., to Algoa, Tex. There are several branch lines, the most important ones being those extending from Harlingen to Sam Fordyce, and from Victoria to Port O'Connor and Austwell. By means of trackage rights over the line of the Gulf, Colorado and Santa Fe Railway Company from Algoa, the St. Louis, Brownsville & Mexico reaches Galveston and Houston.

The St. Louis, Brownsville & Mexico wholly owns and uses 628.936 miles of tracks and jointly owns and uses with other carriers 0.758 mile, which are classified in the trackage table in Appendix 1.

Introductory
The St. Louis, Brownsville & Mexico is a corporation of the State of Texas, having its principal office at Kingsville, Tex. Control of the St. Louis, Brownsville & Mexico until May, 1910, was exercised by the St. Louis Union Trust Company as manager of a syndicate, the principal members of which were B. F. Yoakum and associates. In May, 1910, the St. Louis and San Francisco Railroad Company purchased from the syndicate all the St. Louis, Brownsville & Mexico's outstanding capital stock and mortgage bonds. The St. Louis, Brownsville & Mexico is controlled by the New Orleans, Texas & Mexico on date of valuation through ownership of its entire capital stock and bonds.

The St. Louis, Brownsville & Mexico jointly controls on the date of valuation the companies listed below:

The property of the St. Louis, Brownsville & Mexico was operated by its own organization from the date each section was completed until July 5, 1913, upon which date the property was placed in the hands of a receiver. The receiver was discharged on April 18, 1916, and the property restored to the St. Louis, Brownsville & Mexico, which continued its operation until January 1, 1918, when the common-carrier property was taken over for operation by the United States Railroad Administration which operates it on date of valuation.

Corporate History
The St. Louis, Brownsville & Mexico was incorporated June 5, 1903, for a period of 50 years under Title Ninety-four of the Revised Statutes of the State of Texas. The purpose for which the St. Louis, Brownsville & Mexico was incorporated was to incorporated was to construct, equip, maintain, and operate a standard-gage railway from Sinton to Brownsville, Tex., with a branch line extending westerly to the southeast corner of Star County, a total distance of about 200 miles.

The articles of incorporation were amended by the St. Louis, Brownsville & Mexico filing certificates dated October 6, 1903, November 8, 1909, January 26, 1910, January 15, 1912, and May 29, 1912, providing for the extension of its main line from Sinton to Houston, Tex., and the construction of branch lines to Collegeport, Victoria, Port O'Connor, and Sam Fordyce, Tex.

Development of Fixed Physical Property
The road owned by the St. Louis, Brownsville & Mexico on date of valuation has been acquired by it as indicated hereunder:

That part of the road extending from Brownsville to Algoa and from Harlingen to Sam Fordyce was constructed by Johnston Brothers, contractors, of St. Elmo, Ill. They were paid by a syndicate which was organized for the purpose of constructing the road. The branch lines extending to Port O'Connor, Victoria, and Austwell were constructed by A. T. Perkins, trustee. The remaining branch lines were constructed by the St. Louis, Brownsville & Mexico's own forces.

Leased Railway Property
As hereinbefore stated, the common-carrier property of the St. Louis, Brownsville & Mexico was operated by the United States Railroad Administration from January 1, 1918, to date of valuation.

The St. Louis, Brownsville & Mexico used on December 31, 1917, facilities owned by other companies to the extent indicated below. The description of the property, the terms of use, and the rentals accrued and charged to income for the year ended on December 31, 1917, are as follows: Certain of the equipment owned by the St. Louis, Brownsville & Mexico is used from a pool for the operation of certain short lines forming a part of the so-called Gulf Coast Lines, of which the St. Louis, Brownsville & Mexico is also a part. Such equipment is not used under a formal lease, but rental is charged therefor on a per diem or mileage basis. Repairs to such equipment are pooled and charged to the various companies on a user basis.