Wikipedia:WikiProject Trains/ICC valuations/Yazoo and Mississippi Valley Railroad

Interstate Commerce Commission, Valuation Reports, Volume 46

Location and General Description of Property
The railroad of The Yazoo and Mississippi Valley Railroad Company, hereinafter called the Yazoo and Mississippi Valley, is a standard-gage, steam railroad, located in Tennessee, Mississippi, and Louisiana and mileage used by it under lease is located in Mississippi, Arkansas, and Louisiana. The operated railroad has one main artery extending from Memphis, Tenn., through Vicksburg, Miss., and Baton Rouge, La., to New Orleans. Branches extend to important points in the same territory. The Yazoo and Mississippi Valley serves western Mississippi and northeastern Louisiana and enters Tennessee and Arkansas.

It uses jointly under lease terminal property at Memphis, Tenn., Jackson, Miss., and New Orleans, La.

It wholly owns and uses 1,281.696 miles of road. It wholly uses 105.191 miles owned by other carriers, of which 11.423 miles, Lula to Eagle's Nest, Miss., are owned by the Mississippi Valley Company. The remaining road owned by lessors of the Yazoo and Mississippi Valley is described below.

Other mileage shown in appendix 1 is jointly owned by the Yazoo and Mississippi Valley with other carriers. All of the properties described below are leased to and operated by the Yazoo and Mississippi Valley.

The Yazoo and Mississippi Valley wholly owns and uses 1,680.993 miles of all tracks; wholly owns but does not use 3.051 miles of all tracks; and wholly uses but does not own 118.074 miles of all tracks. These tracks, consisting of first main tracks, second main tracks, yard tracks and sidings, are classified in the trackage table in appendix 1. It jointly owns and uses trackage with other carriers and jointly uses trackage of one of the lessors described above, as shown in the trackage table in appendix 1.

Introductory
The Yazoo and Mississippi Valley is a corporation of the States of Mississippi, Tennessee, and Louisiana, having its principal office at New Orleans, La.

Control is vested in The Mississippi Valley Company, a holding company controlled by the Illinois Central, through ownership of a majority of the capital stock.

On the other hand, the records do not indicate that this company, itself, controls any common-carrier corporation.

The property has been operated by its own organization during its entire life.

Corporate History
The Yazoo and Mississippi Valley was formed by the consolidation of The Yazoo and Mississippi Valley Railroad Company, a corporation of the same name, hereinafter called The Yazoo and Mississippi Valley Railroad Company (of 1882) and the Louisville, New Orleans & Texas Railway Company, under articles of consolidation, dated October 24, 1892, and filed in the States named as follows: Mississippi, October 27, 1892; Tennessee, December 30, 1892; Louisiana, February 2, 1893.

The corporate history involves 18 distinct predecessor companies, of which two underwent a change of name, making 20 names of companies involved in the line of corporate succession culminating in the company as at present constituted.

The names of the corporations, the respective dates of incorporation, and for each predecessor the date and manner of succession follow:

Development of Fixed Physical Property
The recorded mileage owned by the Yazoo and Mississippi Valley on date of valuation, 1,283.136, of which 310 miles was acquired by construction and 973.136 miles by consolidation and purchase. The inventoried mileage is 1,282.832.

Details with respect to the construction of the property are given in the accounting report.

Leased Railway Property
The Yazoo and Mississippi Valley uses on date of valuation property owned by other companies and other companies use property owned by it. The description of the property, period and terms of use, and rental accrued and charged or credited to income for the year ended on date of valuation follow.

Lessor Companies

 * Sunflower & Eastern
 * Helm & Northwestern Railroad
 * Minter City Southern and Western
 * Louisville, New Orleans and Texas Railway of Arkansas
 * Baton Rouge, Hammond and Eastern

The Yazoo and Mississippi Valley Railroad
Introductory

The Yazoo and Mississippi Valley Railroad Company, herein called The Yazoo and Mississippi Valley Railroad Company (of 1882), was incorporated on February 17, 1882, by special act of the Legislature of Mississippi.

Under articles of consolidation, October 27, 1892, the company was consolidated with the Louisville, New Orleans & Texas Railway Company to form the Yazoo and Mississippi Valley. The accounts were continued and the property separately operated until June 30, 1893.

It was controlled by the Illinois Central through ownership of its capital stock.

Development of Fixed Physical Property

The owned mileage was acquired, 13 miles, by purchase from The West and East Railroad Company and 125 by construction. Details are given in the chapter on development of fixed physical property of the Yazoo and Mississippi Valley.

The West and East Railroad
The record reviewed consisted of only a minute book.

The company was incorporated by a special act of Mississippi, April 15, 1873. It owned about 13 miles of standard-gage railroad, Lexington to Durant, Miss., which was opened for operation October 20, 1882.

The total capital stock and long-term debt as shown by the records of the Chicago, St. Louis and New Orleans Railroad Company comprised the following: Capital stock $1,000,000, funded debt $125,000, total $1,125,000.

The capital stock $1,000,000 was issued to the Chicago, St. Louis and New Orleans Railroad Company for advances.

First-mortgage 6 percent bonds due September 1, 1901, $125,000 were issued to the Chicago, St. Louis and New Orleans Railroad Company for advances. These bonds were canceled November 30, 1886, when the property was sold to The Yazoo and Mississippi Valley Railroad Company (of 1882).

The line was operated by the Chicago, St. Louis and New Orleans Railroad Company until January 1, 1885, when it was leased to The Canton, Aberdeen and Nashville Railroad Company. The lease was transferred to The Yazoo and Mississippi Valley Railroad Company (of 1882) August 16, 1886. That company operated the property until November 30, 1886, when it acquired the property.

Louisville, New Orleans & Texas Railway
Introductory

Louisville, New Orleans & Texas Railway Company was incorporated August 12, 1884. The articles were filed in Tennessee, August 12, 1884, and in Mississippi, April 6, 1891.

The company operated about 808 miles of line, of which 737 miles were standard and 71 miles narrow gage, classified as follows: Owned 796, jointly owned 1, leased 11, total 808.

The owned mileage extended from Memphis, Tenn., to New Orleans, with branches in Mississippi and Louisiana, that jointly owned represents belt line at Memphis. The leased line extended from Lula to Eagles Nest, Miss.

The company and The Yazoo and Mississippi Valley Railroad Company (of 1882) were consolidated to form the Yazoo and Mississippi Valley under articles filed October 27, 1892.

No accounting records prior to September 1, 1886, were obtained. The books were continued to June 30, 1893.

Development of Fixed Physical Property

The owned mileage on date of demise was acquired as follows: By consolidation 456, by purchase 199, by purchase jointly owned 1, by construction 141, total 797.

Details with respect to the construction of the property are given in the chapter on development of fixed physical property of the Yazoo and Mississippi Valley.

Memphis and Vicksburg Railroad
No accounting records of the above-named company were obtained. It was incorporated August 8, 1870, under a special act of Mississippi.

The Financial Improvement Company constructed about 78 miles of line under the franchise of this company. The expenditures for construction are recorded in the accounts of the Louisville, New Orleans & Texas Railway Company and the outlay is in the report on that company.

On August 12, 1884, this company was consolidated with three others to form the Louisville, New Orleans & Texas Railway Company.

Tennessee Southern Railroad, New Orleans & Mississippi Valley Railroad, The New Orleans, Baton Rouge, Vicksburg & Memphis Railroad
No accounting records of these companies were obtained.

All available data relating to the properties of these companies treated herein are in the report on the Louisville, New Orleans & Texas Railway Company.

Tennessee Southern Railroad Company was incorporated August 17, 1881, under the general laws of Tennessee. Under its charter the Financial Improvement Company constructed in 1883–84, about 13 miles of railroad, Memphis, Tenn., to the Mississippi-Tennessee State line.

New Orleans & Mississippi Valley Railroad Company was incorporated September 17, 1881, under the general laws of Louisiana. Under its charter the Financial Improvement Company constructed in 1883–84, about 128 miles of railroad, New Orleans, La., to the Louisiana-Mississippi State line.

The New Orleans, Baton Rouge, Vicksburg & Memphis Railroad Company was incorporated March 9, 1882, under special act of Mississippi. Under its charter the Financial Improvement Company constructed about 237 miles of railroad. Details with respect to the construction of this property are in the chapter on development of fixed physical property of the Yazoo and Mississippi Valley.

Grand Gulf and Port Gibson Railroad - Predecessor of The New Orleans, Baton Rouge, Vicksburg & Memphis Railroad
No accounting records of the above-named company were obtained.

The company was incorporated October 16, 1852, under special act of Mississippi. About 7 miles of line were constructed Port Gibson to Grand Gulf, 1852 to 1855, of which 5 miles were abandoned. The company forfeited its corporate rights. The remaining 2 miles were utilized by The New Orleans, Baton Rouge, Vicksburg & Memphis Railroad Company in the completion of about 237 miles of road. The outlay in the property cannot be stated.

Mississippi Valley and Ship Island Railroad, Originally Named Vicksburg, Pensacola and Ship Island Railroad — Predecessor of The New Orleans, Baton Rouge, Vicksburg & Memphis Railroad
No accounting records of the above-named company were obtained.

The company was incorporated as the Vicksburg, Pensacola and Ship Island Railroad Company, March 6, 1871, by special act of Mississippi. By special act of April 18, 1873, the name was changed to the Mississippi Valley and Ship Island Railroad Company.

No records were obtained. About 26 miles were built from Vicksburg, Miss., to a point near Ingleside. In 1882 the company forfeited its charter. The New Orleans, Baton Rouge, Vicksburg & Memphis Railroad Company, utilized portions of the line from Vicksburg. The outlay in the property cannot be stated.

Memphis and New Orleans Railroad and Levee Company
Introductory

This company was incorporated March 8, 1882, under a special act of Mississippi.

The company owned a standard-gage, single-track railroad, Leland to Huntington, Miss., 23 miles, and Metcalf to Glen Allen, Miss., 34 miles.

On June 30, 1887, the property of the company was sold at foreclosure sale.

No accounting records of the company were obtained. This information was developed from the records of the Louisville, New Orleans & Texas Railway Company.

Development of Fixed Physical Property

Details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Yazoo and Mississippi Valley.

Mobile and Northwestern Railroad
No accounting records of the above-named company were obtained.

The company was incorporated July 20, 1870, in Mississippi. It owned a single-track, narrow-gage railroad, Trotter's Point, to Clarksdale, Miss., about 31 miles, which had been constructed, 1872 to 1877. About 11 miles were abandoned, 9 miles sold to Louisville, New Orleans & Texas Railway Company and 11 miles to The Mississippi Valley Company.

West Feliciana Railroad
No accounting records of the above-named company were obtained.

The company was incorporated March 25, 1831, by a special act of Louisiana. It owned and operated about 25 miles of standard-gage railroad Bayou Sara, to Woodville, Miss., which was constructed during the years 1832 to 1842.

The property was sold at foreclosure November 20, 1888, and conveyed to the Louisville, New Orleans & Texas Railway Company.

Clinton and Port Hudson Rail Road
No accounting records of the above-named company were obtained.

The company was incorporated March 8, 1853, under an act of Louisiana to acquire the property of another company of the same name which had been sold at foreclosure.

It owned about 24 miles of standard-gage railroad, 22 miles, Clinton to Port Hudson, acquired in reorganization, and 2 miles Port Hudson to Port Hickey, La., constructed.

The road from Clinton to Ethel, 9 miles, was conveyed to the Louisville, New Orleans & Texas Railway Company October 15, 1889, and Ethel to Port Hickey, conveyed to the Financial Improvement Company, December 20, 1889.

Clinton and Port Hudson Railroad
No accounting records of the above-named company were obtained.

The company was incorporated February 7, 1833, by a special act of Louisiana. It owned about 22 miles of narrow-gage railroad, Clinton to Port Hudson, La.

On March 5, 1853, the property was sold at foreclosure, and deeded to the Clinton & Port Hudson Rail Road Company, a new corporation.

Natchez, Jackson and Columbus Railroad, Originally Named Natchez and Jackson Railroad
Natchez and Jackson Railroad Company was incorporated July 21, 1870, under special act of Mississippi. On July 23, 1872, its name was changed to Natchez, Jackson and Columbus Railroad.

It owned about 99 miles of railroad, 71 miles narrow gage and 28 miles standard gage, Natchez to Jackson, Miss., which was constructed as narrow gage between 1870 and 1882. The 28 miles were widened to standard gage in 1889. No accounting records of the company were obtained. Nothing is known as to the source from which funds were obtained for the construction of the line.

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Louisville, New Orleans & Texas Railway Company acquired the property, rights, and franchises of this company by deed dated March 28, 1890.

Rosedale and Mississippi Central Valley Railroad
No accounting records of this company were obtained.

It was incorporated February 22, 1890, by special act of Mississippi. It constructed about 6 miles of narrow-gage railroad, Rosedale to Malvina, Miss., and opened the line for operation in 1893.

It was reorganized in 1898, and on September 16, 1899, the property was conveyed to the Yazoo and Mississippi Valley.

Yazoo Delta Railway
This company was incorporated April 27, 1895, under the general laws of Mississippi. It deeded its property, rights and franchises to the Yazoo and Mississippi Valley, June 13, 1900.

The owned mileage, Moorhead to Ruleville, Miss., was put in operation December 17, 1897.

The company was controlled by the Illinois Central through stock ownership.

No accounting records prior to December 1897 were obtained.