Wikipedia:WikiProject Trains/ICC valuations/Live Oak, Perry and Gulf Railroad

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The railroad of the Live Oak, Perry & Gulf Railroad Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in northern Florida. The main line extends southwesterly from Live Oak to a point near the Econfino River, a distance of 62.402 miles, with branch lines extending from Mayo Junction to Alton and from Murat Junction to Murat. The carrier owns 80.872 miles of first main track and 11.905 miles of yard tracks and sidings. Its road thus embraces 92.777 miles of all tracks owned and used.

CORPORATE HISTORY

The carrier was incorporated June 16, 1905, under the general laws of the State of Florida for a term of 99 years, the purpose being, among other things, to purchase, construct, lease, and operate a railroad. The date of organization was October 1, 1905. Pursuant to the above purpose, the carrier acquired by purchase the property, rights, and franchises of the Live Oak and Perry Railroad Company. The latter company was incorporated September 23, 1903, under the general laws of the State of Florida for a term of 25 years. Its property, rights, and franchises were sold to the carrier and conveyed by bill of sale dated September 11, 1905.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the carrier amounting to 80.872 miles and located wholly within the State of Florida, was acquired partly by constructionand partly by purchase, as indicated in the statement following.

By construction:

Milepost 31 to milepost 49, 1908 18.00

Mayo Junction to Alton, Fla., 1906 14.53

Milepost 49 to milepost 56.85, 1907 7.85

Murat Junction to Murat, Fla., 1906-1908 3.88

Milepost 56.85 to milepost 60, 1908 3.15

Milepost 60 to milepost 62.40, 1911 2.40

Milepost 46.50 to Springdale, Fla., 1912 0.60

Milepost 62 to Loughridge, Fla., 1913 2.12

52.580

By purchase from the Live Oak and Perry Railroad Company, Sept. 11, 1905, constructed by that company, Live Oak, Fla., to milepost 31 between Townsend and Smith, Fla., date not ascertained 31.000

Total 83.580

Difference between total recorded mileage and mileage inventoried as of date of valuation 2.708

Mileage inventoried as of date of valuation 80.872

The construction work of the carrier was performed by carrier forces and independent contractors. L. T. Morgan and J. W. Robinson were the principal contractors, neither of whom appears to have been affiliated with the carrier.

HISTORY OF CORPORATE FINANCING