Wikipedia:WikiProject Trains/ICC valuations/Pontchartrain Railroad
Interstate Commerce Commission, Valuation Reports, Volume 39
Pontchartrain Railroad
[edit]Location and General Description of Property
[edit]The railroad of the Pontchartrain Railroad Company, hereinafter called the Pontchartrain Railroad, likewise leased to and operated by the Louisville and Nashville, is a partly double-track, standard gage line, extending northerly from Pontchartrain Junction, in New Orleans, to Milneburg, La., a point on Lake Pontchartrain, a distance of 4.978 miles. Of the entire line, 2.503 miles is double track.
Introductory
[edit]The Pontchartrain Railroad is a corporation of the State of Louisiana, having its principal office at Louisville, Ky. It is controlled by the Louisville and Nashville, through ownership of the entire outstanding capital stock. From the date the property of the Pontchartrain Railroad was completed to December 12, 1871, it was operated by its own organization. From that date to June 1, 1880, it was operated by the New Orleans, Mobile and Texas Railroad Company, and from June 1, 1880, to the date of valuation it has been operated by the Louisville and Nashville, by virtue of its ownership of the entire outstanding capital stock.
There are no obtainable accounting records of the Pontchartrain Railroad, neither does it file annual reports with us. Therefore, no information can be given from the accounts in connection with its finances, operations, investments, or original cost. Certain information shown in this report has been obtained from the accounting records of the Louisville and Nashville, as indicated hereinafter.
Corporate History
[edit]The Pontchartrain Railroad was incorporated by a special act of the Legislature of Louisiana, approved January 20, 1830.
Development of Fixed Physical Property
[edit]The construction of the property of the Pontchartrain Railroad was begun about July, 1831, and in 1838, the original construction, the mileage of which cannot be ascertained from the obtainable records, was completed. During the year 1868, an extension was made to the property and some time subsequent to that date a part of the property was sold to the Morgan's Louisiana and Texas Railroad Company.
Leased Railway Property
[edit]The entire property of the Pontchartrain Railroad is operated by the Louisville and Nashville, by virtue of that company's ownership of the entire outstanding capital stock. Nothing is recorded in the accounts of the Louisville and Nashville as representing rental paid for the use of the property of the Pontchartrain Railroad for the year ending on date of valuation.