Wikipedia:WikiProject Trains/ICC valuations/Fort Smith, Poteau and Western Railroad

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The railroad of the Fort Smith, Poteau and Western Railroad Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in the northeastern part of Oklahoma. The owned mileage extends in a northerly direction from Poteau to coal mines near Witteville, a distance of 3.415 miles. It also owns and uses 0.595 mile of yard tracks and sidings. Its road thus embraces 4.010 miles of all tracks. The carrier is an industrial railroad. It is controlled through stock ownership by David J. Evans, who also controls certain mining industries which furnish the greater part of the traffic handled.

CORPORATE HISTORY

The carrier was incorporated December 24, 1915, under the laws of the State of West Virginia. The purpose of incorporation was not ascertained. The carrier made no report on its corporate history. The carrier is the successor to the Fort Smith, Poteau and Western Railway Company, a company incorporated under the laws of West Virginia on November 21, 1899. The latter company, in turn, was the successor to the Indianola Coal and Railway Company, which was incorporated in Texas, but about which no further information has been obtained.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the carrier, inventoried as 3.415 miles of main track, was formerly the property of the Fort Smith, Poteau and Western Railway Company, and was acquired by purchase January 10, 1916, from David J. Evans, who had purchased it, October 16, 1915, at foreclosure sale. The Fort Smith, Poteau and Western Railway Company had purchased the property from the Indianola Coal and Railway Company on or about November 21, 1899. No information was obtained from the records examined as to when the road was constructed or placed in service. Information furnished by the president of the carrier indicates that the Indianola Coal and Railway Company acquired property from the Cavanal Coal, Coke & Railway Company between July 21, 1898, and November 8, 1899, which company, in turn, acquired property from the Cavanal Coal and Mining Company August 27, 1895, and that the property was first placed in service about 1892 or 1893.

HISTORY OF CORPORATE FINANCING