Wikipedia:WikiProject Trains/ICC valuations/White and Black River Valley Railway

Interstate Commerce Commission, Valuation Reports, Volume 24

White & Black River Valley Railway
The railroad of White & Black River Valley Railway is a single-track, standard-gauge, steam railroad, located entirely in Arkansas. The main line extends from Brinkley to Jacksonport, 56.472 miles, and a branch line extends from Wiville to Gregory, 5.963 miles, a total of 62.435 miles of main tracks owned. Other tracks wholly owned aggregate 7.182 miles, making a total of 69.617 miles of all tracks wholly owned. The White & Black River Valley Railway also owns jointly with the St. Louis, Iron Mountain & Southern Railway Company 0.112 mile of yard tracks and sidings at Brinkley.

Corporate History
The White & Black River Valley Railway was incorporated on December 1, 1881, under the laws of Arkansas, as the Batesville and Brinkley Railroad Company, for the purpose of constructing and operating a railroad from Batesville to Brinkley, Ark. On January 10, 1890, the corporate name was changed to White & Black River Valley Railway. On June 22, 1882, the White & Black River Valley purchased, through the Southern Construction Company, the rights, franchises, and property of The Cotton Plant Railway Company, including the right of way and a partially constructed line between Brinkley and Cotton Plant, about 9 miles. On January 10, 1890, it purchased the property, rights, and franchises of the Augusta and South Eastern[sic] Railway Company and of the White & Black River Valley Railway Company. The former included about 6 miles of railway between Wiville and Gregory, Ark. There is no record of just what property of the latter was conveyed. The construction of the line between Cotton Plant and Brinkley was completed by the Southern Construction Company, a company organized by the officers and stockholders of the White & Black River Valley Railway. That company also had the contract for the construction of the line from Cotton Plant to Jacksonport, but only completed the same as far as Riverside, about 21 miles, the remaining 26 miles being built under the direct supervision of the White & Black River Valley Railway. The exact date the entire line was opened for operation can not be ascertained from obtainable records. The line was originally narrow gauge, but was changed to standard gauge in 1888. On June 30, 1900, the White & Black River Valley Railway leased all of its property, except certain parcels of lands, to the Choctaw, Oklahoma and Gulf for the term of 80 years. The carrier assumed this lease on March 24, 1904, on which date the Choctaw, Oklahoma and Gulf leased all of its rights and property to the carrier.

No records of the White & Black River Valley Railway, except minutes of stockholders' and directors' meetings and annual reports filed with us, are available and the information secured from these sources is the basis of this report.

Development of Fixed Physical Property
The owned mileage of the White & Black River Valley Railway was acquired as follows:

The line of the Cotton Plant Railway Company was only partly constructed when acquired. The construction was completed by the Southern Construction Company, a company organized by the officers and stockholders of the White & Black River Valley. That company also had the contract for the construction of the line from Cotton Plant to Jacksonport, but only completed the same as far as Riverside, about 21 miles, the remaining 26 miles being built under the direct supervision of the White & Black River Valley Railway. The exact date that the entire line was opened for operation can not be ascertained from obtainable records. The line was originally narrow gauge, but was changed to standard in 1888.

Leased Railway Property
On June 30, 1900, the White & Black River Valley Railway leased all of its property, except certain parcels of land, to the Choctaw, Oklahoma and Gulf for a term of 80 years. This lease provided that the rental for the first 10 years shall be $25,000 per annum, and $30,000 per annum, with interest at 5 per cent on the outstanding bonds, for the remainder of the period. It also provides that, at the expiration of the lease, the property is to be returned to the lessor in as good condition as when received, and that the lessee may remove all improvements unless the lessor elects to purchase the same. This lease was assumed by the carrier when it leased all of the rights and property of the Choctaw, Oklahoma and Gulf on March 24, 1904.