Wikipedia:WikiProject Trains/ICC valuations/Mississippi and Alabama Railroad

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The carrier has operated, with its own equipment, under our authority of October 5, 1922, 72 I.C.C. 685, the railroad owned by the Leakesville Investment Company, a noncarrier, from September 1, 1922, to date of valuation.

The road operated was formerly a part of the railroad property of the Alabama and Mississippi Railroad Company, which was sold at foreclosure July 31, 1922.

CORPORATE HISTORY

The carrier was incorporated August 12, 1922, under the general laws of Mississippi for the purpose of leasing and operating a railroad extending from Vinegar Bend, Ala., to Leakesville, Miss. The date of organization was August 12, 1922.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The roadway property owned by the carrier consists of certain structures at Leakesville, Miss., roadway machines, and shop machinery. The road operated is owned by the Leakesville Investment Company, a noncarrier, and is a portion of the road formerly owned by the Alabama and Mississippi Railroad Company, abandonment of which was authorized by us October 21, 1921, 70 I.C.C. 531. The road was originally constructed as a logging road by the Vinegar Bend Lumber Company prior to May 23, 1902, and was operated as a common-carrier for about 20 years until its abandonment following sale, 72 I.C.C. 685. The recorded mileage as used under lease is 17.2; the inventoried mileage is 16.945.

HISTORY OF CORPORATE FINANCING