Wikipedia:WikiProject Trains/ICC valuations/Jasper and Eastern Railway
Interstate Commerce Commission, Valuation Reports, Volume 127
Jasper and Eastern Railway
[edit]Location and General Description of Property
[edit]The railroad of the Jasper and Eastern Railway Company, hereinafter called the Jasper and Eastern, which is leased to and operated by the Gulf, Colorado and Santa Fe, is a single-track standard-gauge steam railroad located in the extreme eastern part of Texas and western part of Louisiana. The owned mileage extends easterly from Kirbyville, Tex., to Oakdale, La., a distance of 81.423 miles.
Introductory
[edit]The Jasper and Eastern is a corporation of the State of Texas, having its principal office at Kirbyville, Tex. It is controlled by The Atchison, Topeka and Santa Fe Railway Company through ownership of its entire outstanding capital stock. On the other hand, the records do not indicate that this company itself controls any other carrier corporation. The property of the Jasper and Eastern has always been operated by the Gulf, Colorado and Santa Fe.
Corporate History
[edit]The Jasper and Eastern was incorporated under the provisions of chapter 1, title 94, of the Revised Statutes of Texas on November 11, 1904, for a period of 50 years. Its stated purpose was to construct a standard-gauge railroad from Kirbyville, Jasper County, Tex., northeasterly through Jasper and Newton Counties, Tex., thence across the Sabine River and northeasterly through the parished of Calcasieu (now Beauregard), Vernon, and Rapides, all in the State of Louisiana, a distance of approximately 100 miles; also six branch lines in the State of Louisiana aggregating about 83 miles, making a total of 183 miles of main and branch lines.
Development of Fixed Physical Property
[edit]The property owned by the Jasper and Eastern was constructed by contractors not affiliated with the company. The following statement shows the dates construction was commenced, the dates the property was placed in operation, and the mileage:
| [Property] | Construction commenced | Placed in operation | Main tracks miles |
Other tracks miles |
|---|---|---|---|---|
| Kirbyville, Tex., to DeRidder, La. | Nov. 19, 1904 | Aug. 1, 1906 | 39.000 | 9.350 |
| DeRidder, La., to Cravens, La. | --- | June 1, 1907 | 18.000 | 3.524 |
| Cravens, La., to Oakdale, La. | --- | Feb. 9, 1908 | 24.423 | 8.750 |
| Total. | --- | --- | 81.423 | 21.654 |
Leased Railway Property
[edit]The railroad of the Jasper and Eastern is being used on date of valuation by the Gulf, Colorado and Santa Fe under lease for sole operation for a period of 50 years from August 1, 1906. The lease provides that the Gulf, Colorado and Santa Fe shall pay for such use:
- Interest on any outstanding bonds.
- Interest on all other indebtedness.
- Taxes, assessments, and governmental charges which shall accrue under any lawful authority.
- All rentals or other sums which the lessor shall become liable to pay under any agreement existing Aug. 1, 1906.
- All expenses necessarily incurred by the lessor for the purpose of maintaining and perpetuating its organization.
- Six per cent per annum on the par value of the capital stock.
For the use of its property for the year ending on date of valuation, the Jasper and Eastern has received $108,100.16.