Wikipedia:WikiProject Trains/ICC valuations/Mississippi and Skuna Valley Railroad

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The railroad of the Mississippi & Skuna Valley Railroad Company, hereinafter called the carrier, is a single-track, standard-gage, steam railroad, located in the northeastern section of the State of Mississippi. The main line extends northeasterly from Bruce Junction to Bruce, a distance of 21.726 miles. The carrier also wholly owns 3.700 miles of yard tracks and sidings. Its road thus embraces 25.426 miles of all tracks wholly owned and used. In addition, it jointly owns and uses with the Illinois Central Railroad Company station facilities and 0.152 undivided mile of sidetracks at Bruce Junction, Miss.

All rail and certain track fastenings in the carrier's main line are leased from the Illinois Central Railroad Company.

The carrier has trackage rights over 0.75 mile of tracks owned by the Illinois Central Railroad Company at Bruce Junction, Miss. The latter company, in return, has joint use of the carrier's wye track. The E. L. Bruce Company has trackage rights over practically the entire road of the carrier for the operation of log trains.

This is an industrial railroad controlled by the E. L. Bruce family of Memphis, Tenn., who also control the E. L. Bruce Company, owner of a large sawmill at Bruce, Miss., which is served by the carrier.

CORPORATE HISTORY

The carrier was incorporated June 1, 1925, as the Mississippi & Schoona Valley Railroad Company, under general laws of Mississippi, to construct a railroad from a connection with tracks of Illinois Central Railroad Company at Bryant, Miss., to a point to be known as Bruce, Miss. It was organized June 2, 1925. Its name was changed to Mississippi & Skuna Valley Railroad Company on April 29, 1926, by charter amendment.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The railroad of the carrier was acquired by construction begun in May, 1925, and completed, and the property placed in operation, September 1, 1926, (99 I.C.C. 606). Construction work was performed partly by E. L. Bruce Company, Memphis, Tenn., which controlled the carrier until June, 1928, partly by other contractors, and partly by company forces. The records do not indicate that any of the subcontractors were affiliated with the carrier.

HISTORY OF CORPORATE FINANCING