Wikipedia:WikiProject Trains/ICC valuations/Miami Mineral Belt Railroad

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The railroad owned and operated by the Miami Mineral Belt Railroad Company, herein called the carrier, consists of 14.137 miles of single-track, standard-gauge, steam railroad, extending from Quapaw, Okla., to Baxter Junction, Kans. It also uses under trackage rights 1.4 miles of road extending from Baxter Junction to Baxter Springs, Kans., owned by another carrier. The carrier wholly owns and uses 30.775 miles of all tracks and jointly owns and uses 0.148 mile of all tracks, which are classified in the trackage table in Appendix 1.

CORPORATE HISTORY

The carrier was incorporated on February 26, 1917, under the general laws of the State of Oklahoma, and on June 27, 1917, under the general laws of the State of Kansas. The purpose of the incorporation was not ascertained from the records reviewed.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the carrier, amounting to 14.137 miles, was all acquired by construction. Construction work was begun during March, 1917, and the road was completed from Quapaw to Picher, Okla., on July 4, 1917, and extended to Baxter Junction, Kans., on July 15, 1918. Although a contract for the construction of the entire road was given to the Oil Fields Short Line Construction Company, whose incorporators were identical with those of the carrier, the accounts covering all construction not performed by subcontractors were kept by the carrier and all construction bills were settled by it, including those of subcontractors employed for grading, bridge, and masonry work, and for construction of station buildings.

HISTORY OF CORPORATE FINANCING