Wikipedia:WikiProject Trains/ICC valuations/Crosbyton–Southplains Railroad
Interstate Commerce Commission, Valuation Reports, Volume 116
Crosbyton-Southplains Railroad
[edit]Location and General Description of Property
[edit]The railroad of Crosbyton-Southplains Railroad Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located entirely within the State of Texas. The main line extends from Lubbock in a general eastwardly direction to Crosbyton, a distance of 38.435 miles. The carrier also owns and uses 5.232 miles of yard tracks and sidings. Its road thus embraces 43.667 miles of all tracks owned.
Introductory
[edit]The carrier is a corporation of the State of Texas, on date of valuation. The carrier is controlled by The Atchison, Topeka and Santa Fe Railway Company, which purchased the outstanding capital stock in August, 1915.
Corporate History
[edit]The carrier was incorporated under provisions of chapter 1, title 94, of the Revised Statutes of Texas, on April 6, 1910, for a period of 50 years. It was organized by John Stuart Coonley, of Chicago, Ill., and Julian M. Bassett, of Crosbyton, Tex., partly for the purpose of colonizing a large tract of land adjacent to Crosbyton, Tex., owned by the C-B Live Stock Company, which was controlled by Coonley and associates.
Development of Fixed Physical Property
[edit]The property of the carrier was acquired by construction, partly with its own forces and partly by Walter H. Denison, an independent contractor. The road consists, on date of valuation, of 38.435 miles of main line and 5.232 miles of other tracks. Construction began on July 12, 1910. The road was placed in operation April 10, 1911.
Leased Railway Property
[edit]The carrier uses jointly with the Panhandle and Santa Fe Railway Company, under lease dated August 8, 1911, the station and yard facilities of The Pecos and Northern Texas Railway Company, at Lubbock, Tex., on a rental basis of $250 per month. During the year ending on date of valuation, the carrier paid for such use $3,000. Of this amount, $2,362.08 was charged to income and the remainder to operating expenses.