Wikipedia:WikiProject Trains/ICC valuations/Gideon and North Island Railroad

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The railroad of Gideon and North Island Railroad Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in the southeastern part of Missouri. The owned mileage extends southeasterly from Malden, Mo., to the New Madrid-Pemiscot county line in Missouri, a distance of 15.415 miles. The carrier also owns yard and side tracks totaling 5.064 miles. Its road thus embraces 20.479 miles of all tracks owned. In addition to this mileage, the carrier leases and operates about 43 miles of road owned by the St. Louis-San Francisco Railway Company. [actually trackage rights, Gideon-Wardell via Clarkton-Gibson-Holcomb-Kennett-Pascola, and apparently later Gideon-Canalou]

Corporate history.—The carrier was incorporated on April 30, 1908, under the general railroad laws of the State of Missouri, for a period of 40 years. It was incorporated in the interests of the Gideon and Anderson Lumber and Mercantile Company, for the stated purpose of constructing, maintaining, and operating a standard-gauge railroad from Malden, Dunklin County, Mo., to a point on the south line of section 1, township 20 north, range 10 east, in Pemiscot County, Mo. The carrier's capital stock was held by individuals who held the stock of the Gideon and Anderson Lumber and Mercantile Company. Its principal office is located at Gideon, Mo. The detailed facts as to the development of the fixed physical property are given in Appendix 2.

APPENDIX 2

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The carrier purchased that part of its road between a point about 3.5 miles north of Gideon and the north line of Pemiscot County, about 10 miles, from the Gideon and Anderson Lumber and Mercantile Company, on May 7, 1908. No deed conveying this property to the carrier has ever been executed. Part of the rail and track fastenings in the tracks at the time were leased from the St. Louis-San Francisco Railway Company. Prior to the organization of carrier the property was apparently used by the Gideon and Anderson Lumber and Mercantile Company. The obtainable records do not show when or by whom it was constructed.

That part of the road between Malden and a point about 3.5 miles north of Gideon, about 5.5 miles, was purchased on February 27, 1915, from the United States Cooperage & Handle Company. The consideration named in the deed was $5,000 and other considerations, but the records do not show what consideration, if any, actually passed. This part of the road was operated by the carrier under lease from April 30, 1908, to the date of its purchase. It was apparently used by the United States Cooperage & Handle Company prior to the carrier's organization, but the records do not show when or by whom it was constructed.

HISTORY OF CORPORATE FINANCING