Wikipedia:WikiProject Trains/ICC valuations/Texas and New Orleans Railroad

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The railroad of the Texas and New Orleans Railroad Company, herein called the Texas and New Orleans, is a standard-gage, steam railroad, located entirely within Texas. The road is single track except for 8.741 miles, which is double track. The main line extends east from Houston to the Texas-Louisiana State line at the Sabine River, connecting there with the Louisiana Western Railroad Company, and forming an important link in the Southern Pacific System's transcontinental route from New Orleans to San Francisco. The principal branch lines extend from Beaumont to Dallas, and from Beaumont to tidewater at Port Arthur and Sabine. Minor branches extend from Gallatin to Rusk, Rockland to Turpentine, Nome to Sour Lake, West Port Arthur to Port Arthur and Houston to Clinton. The branch line from Beaumont to Dallas consists of two disconnected sections. The gap of 3.58 miles between Dorr Junction and Bonita Junction is bridged by means of trackage rights over the line of The Houston East and West Texas Railway Company.

The Texas and New Orleans wholly owns and uses 471.961 miles of first main track, 8.741 miles second main track, and 206.372 miles yard tracks and sidings. Its road thus embraces 687.074 miles of all tracks wholly owned, all of which it uses. In addition, it jointly owns and uses with other carriers an undivided interest in 0.442 mile of yard tracks and sidings. The Texas and New Orleans' portion of these tracks, if divided on the basis of ownership, would be 0.221 mile. For further details as to jointly owned mileage see summaries by accounts in Appendix 1.

CORPORATE HISTORY

The Texas and New Orleans was organized on July 16, 1875, under the charter rights of a predecessor company of the same name, by authority of an act of the legislature of the State of Texas, approved on December 19, 1857. Its authority has been extended at various times by special acts of the Texas Legislature and charter amendments, to cover the purchase of other lines, the extension of its own lines, and the increase of capital stock. Pursuant to these special acts and amendments, the Texas and New Orleans has acquired the properties, rights, and franchises of several corporations. The Texas and New Orleans, itself, and those corporations total nine different corporations, of which two underwent a change in name, [...]

No.	Name	Incorporation	Succession
1	Texas and New Orleans Railroad Company.	Under special act of Texas, July 16, 1875.
2	Texas and New Orleans Railroad Company.	See 3.	Sold at foreclosure, Nov. 8, 1872. Conveyed to 1, July 18, 1875.
3	Sabine and Galveston Bay Railroad and Lumber Company.	Under special act of Texas, Sept. 1, 1856.	Name changed to 2, Dec. 24, 1859.
4	Sabine and East Texas Railway Company.	See 5.	Sold to 1, Oct. 28, 1882.
5	East Texas Railway Company.	Under general laws of Texas, Apr. 29, 1880.	Name changed to 4, Aug. 3, 1881.
6	Texas Transportation Company.	Under special act of Texas, Sept. 25, 1866.	Sold to 1, June 1, 1896.
7	Louisiana Western Extension Railroad Company.	Under general laws of Texas, Mar. 31, 1879.	Sold to 1, Feb. 10, 1900.
8	Texas Trunk Railroad Company (3).	See 10.	Sold under foreclosure, Aug. 6, 1895; conveyed to 1, Nov. 26, 1899.
9	Texas Trunk Railroad Company (2).	See 10.	[reorganized as 8 about Nov.] 19, 1885, under charter rights of 10.
10	Texas Trunk Railroad Company (1).	Under general laws of Texas, Nov. 6, 1879.	Sold at foreclosure, May 1, 1883. Reorganized as 9. Property transferred to 9, July 2, 1883.
11	Burr's Ferry, Browndel & Chester Railway Company.	Under general laws of Texas, Jan. 2, 1906.	Sold to 1, effective as of July 1, 1914.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the Texas and New Orleans, amounting to 471.961 miles, was acquired by purchase and construction, as indicated [...]

Acquired by construction:

Cedar to Jacksonville, 1900-1902 65.91

Rockland to Dorr Junction, 1900-1902 47.80

Bonita Junction to Mahl, 1900-1902 5.30

Mahl to Cushing, 1902-1903 11.90

Cushing to Jacksonville, 1903 29.40

Nome to Sour Lake, 1903 8.40

West Port Arthur to Port Arthur, completed in 1908 3.20

Gallatin to Rusk, 1908-1909 8.03

179.94

Acquired by purchase:

From John T. Terry, trustee for the Texas and New Orleans Railroad Company (of 1856), constructed by that company—

Houston to Liberty, 1857-1860, about 41 miles.

Orange to Liberty, 1859-1860, about 64 miles, put in operation in 1861 104.72

(The road was dismantled by Confederate forces in 1865, and was rebuilt from Houston to West Liberty, about 35 miles, some time prior to 1870.)

From the Sabine and East Texas Railway Company, constructed by that company—

Beaumont to Sabine Pass, commenced 1880, date of completion not known 30.17

Beaumont to Kountze, date of beginning of construction not known, completed in 1881 24.40

Kountze to Rockland, 1881-1882 48.66

103.23

From the Texas Transportation Company, constructed by that company, Houston to Clinton, some time prior to 1876 7.40

From the Louisiana Western Extension Railroad Company, constructed by that company, Orange to Echo, 1878-1881 6.42

From the Texas Trunk Railroad Company (3) 51.81

Constructed by the Texas Trunk Railroad Company (1), Dallas to Kaufman, 1879-1881, about 36 miles.

Constructed by the Texas Trunk Railroad Company (2), Kaufman to Cedar (now Gossett), 1883, about 16 miles.

From the Burr's Ferry, Browndel & Chester Railway Company, constructed by that company—

Rockland to Aldridge, 1906-1907 7.10

Aldridge to Turpentine, 1907-1908 3.01

Turpentine to 1 mile beyond, 1907-1908 1.01

Near Turpentine to Angelina River, 1907 8.13

Angelina River to Browndel, 1907 8.60

27.85

(Between Turpentine and Browndel, 16.73 miles, grading was performed and bridges constructed, except bridge over the Angelina River, but track had not been laid when the property was sold to the Texas and New Orleans.)

Total acquired by purchase 301.43

Total of above items 481.370

Less partially completed road between Turpentine and Browndel, reported by the Texas and New Orleans as not in operation on date of valuation 8.130

Less difference between total recorded mileage and mileage inventoried as of date of valuation 1.279

9.409

Mileage inventoried as of date of valuation 471.961

The Texas and New Orleans has performed a considerable amount of addition and betterment work in the nature of rehabilitating purchased lines to bring them to their present state of physical development. The principal improvements consist of changing the main line to standard gage, placing heavier weight of rail, changing bridges to steel structures, installing block signal system, ballasting track, improving shop building and facilities at Houston, and constructing creosote works at Englewood.

HISTORY OF CORPORATE FINANCING

LEASED RAILWAY PROPERTY

The Texas and New Orleans used, on December 31, 1917, facilities owned by other companies and other companies used facilities owned

Jointly used, but not owned, owned by—

The Houston East and West Texas Railway Company, trackage rights and facilities between Dorr Junction and Bonita Junction, 3.58 miles of road; rental based on 2.5 per cent per annum on agreed valuation; maintenance, operation, and taxes on basis of usage; no cancellation clause, except from failure to pay bills, in which case 60 days' notice is required 2,068.49

The Galveston, Harrisburg and San Antonio Railway Company; Houston & Texas Central Railroad Company; and The Houston East and West Texas Railway Company, joint yards and terminals at Houston embracing 46.33 miles of road; rental a proportion of 5 per cent on agreed valuation; maintenance, operation,