Wikipedia:WikiProject Trains/ICC valuations/Vicksburg, Shreveport and Pacific Railway
Interstate Commerce Commission, Valuation Reports, Volume 26
Vicksburg, Shreveport & Pacific Railway
[edit]Location and General Description of Property
[edit]The railroad of the Vicksburg, Shreveport & Pacific Railway Company, herein referred to as the Vicksburg, Shreveport & Pacific, consists of 188.448 miles of single-track, standard-gage, steam railroad, located in the northern part of Louisiana. The owned mileage consists of a line without branches extending from Delta Point on the eastern boundary of the State to the Louisiana-Texas State line. Of this mileage the Vicksburg, Shreveport & Pacific operates 171.441 miles, extending from Delta Point to Shreveport. The remaining 17.007 miles, extending from Shreveport to the Louisiana-Texas State line, are leased for operation to The Missouri, Kansas & Texas Railway Company of Texas. The Vicksburg, Shreveport & Pacific wholly owns and uses 233.036 miles of all tracks, and owns but does not use 18.196 miles of all tracks which are classified in the trackage table in Appendix 1.
Introductory
[edit]The property of the Vicksburg, Shreveport & Pacific, with exception of the portion known as the Waskom extension, was operated by its own organization from May 1, 1901, to December 31, 1917. On January 1, 1918, its common-carrier property was taken over for operation by the United States Railroad Administration, which operates it on date of valuation. The Wascom extension is operated on date of valuation as a part of the system of The Missouri, Kansas & Texas Railway Company of Texas, by which company it was operated under lease from May 1, 1901, to December 31, 1917.
Corporate History
[edit]The Vicksburg, Shreveport & Pacific was incorporated April 23, 1901, under the general laws of the State of Louisiana, as a reorganization of the Vicksburg, Shreveport and Pacific Railroad Company. The date of organization of the Vicksburg, Shreveport & Pacific was April 23, 1901. The following chart shows the names of the corporations that comprise the line of corporate succession culminating in the Vicksburg, Shreveport & Pacific as at present constituted, the respective dates of incorporation, and for each predecessor the date of succession, the immediately succeeding corporation and the manner of succession. Reference to each of these corporations is made in the last column by its respective number shown in the first column.
| No. | Name | Incorporation | Succession |
|---|---|---|---|
| 1. | Vicksburg, Shreveport & Pacific Railway Company. | Under general laws of Louisiana, Apr. 23, 1901. | |
| 2. | Vicksburg, Shreveport and Pacific Railroad Company. | Under general laws of Louisiana, Dec. 2, 1879. | Sold at foreclosure Mar. 30, 1901, after receivership begun Apr. 21, 1900, and reorganized effective May 1, 1901, as 1. |
| 3. | The North Louisiana and Texas Railroad Company. | Under special act of Louisiana, Sept. 26, 1868. | Went out of existence in 1875, when its title to property acquired from 4 was set aside by court decisions. |
| 4. | The Vicksburg, Shreveport and Texas Railroad Company. | Under general laws of Louisiana, Mar. 11, 1852, and special act of Louisiana, Apr. 28, 1853. | Sold at foreclosure Feb. 5, 1866, after receivership begun Dec. 30, 1865, and conveyed to 3 in 1868. The foreclosure proceedings were later declared fraudulent and title acquired by 3 was set aside, Mar. 22, 1875. Second receivership begun Mar. 22, 1875; sold at foreclosure Dec. 1, 1879, and reorganized effective Dec. 2, 1879, as 2. |
Development of Fixed Physical Property
[edit]The owned mileage of the Vicksburg, Shreveport & Pacific, amounting to 188.448 miles, was all acquired by purchase in the reorganization of May 1, 1901. The names of the corporations which constructed this property, and the years when the various portions of the line were constructed, are indicated in the following table:
| [Property] | Mileage |
|---|---|
| Acquired in the reorganization of May 1, 1901: | |
| From the Vicksburg, Shreveport & Pacific Railroad Company— | |
| Constructed by The Vicksburg, Shreveport and Texas Railroad Company from 1852 to 1860; destroyed by Confederate troops in November, 1863; reconstructed by The North Louisiana and Texas Railroad Company prior to 1870, and by the Vicksburg, Shreveport and Pacific Railroad Company from 1881 to 1884: Delta Point to Monroe, La. | 72.000 |
| Constructed by The Vicksburg, Shreveport and Texas Railroad Company, prior to July, 1866: Shreveport, La., to the Louisiana-Texas State line. | 19.000 |
| Constructed by the Vicksburg, Shreveport and Pacific Railroad Company, from 1881 to 1884: Monroe to Shreveport, La. | 98.000 |
| Total. | 189.000 |
| Difference between the total recorded mileage and mileage inventoried as of date of valuation. | 0.552 |
| Mileage inventoried as of date of valuation. | 188.448 |
Leased Railway Property
[edit]The property of the Vicksburg, Shreveport & Pacific, devoted to common-carrier purposes was taken over for operation by the United States Railroad Administration on January 1, 1918, and is so operated on date of valuation. The arrangements of the Vicksburg, Shreveport & Pacific with other companies, in effect December 31, 1917, covering the sole or joint use by either of road or other facilities of the other, have been continued by the railroad administration during the period January 1, 1918, to date of valuation. The description of the property, the period, and terms of use, and the rentals accrued and charged or credited to income for the year ending on date of valuation are as follows:
| [Description] | Rentals |
|---|---|
| Solely owned, but not used, leased to — | |
| The Missouri, Kansas & Texas Railway Company of Texas — | |
| Entire line of railway between Shreveport, La., and the Louisiana-Texas State line; term 25 years from July 28, 1900; stipulated annual payment equal to 4 per cent on valuation of $12,000 per mile. | $8,160.00 |
| Noncarrier company, rails and fastenings. | 283.50 |
| Solely owned, but jointly used, used with — | |
| The Missouri, Kansas & Texas Railway Company of Texas — | |
| Terminal facilities at Shreveport, La., term 25 years from July 28, 1900; stipulated annual payment $5,400, plus a proportion, based on use, of 6 per cent on additions and betterments, and a similar proportion of maintenance and operating charges. | 8,499.64 |
| Tremont & Gulf Railway Company — | |
| Freight and passenger depot at Tremont, La.; for indefinite period from July 17, 1906; stipulated payment equal to 3 per cent on $2,200, plus one-half of maintenance of side tracks and one-third of expense and maintenance of freight and passenger depot. | 76.24 |
| The Louisiana & North West Railroad Company — | |
| Freight and passenger depot at Gibbsland, La.; for indefinite period from July 1, 1905; stipulated annual payment equal to 3 per cent on $10,500 and on value of additions and betterments, plus 35 per cent of expense and maintenance of freight facilities, plus 25 per cent of expense and maintenance of passenger facilities. | 213.24 |
| The Louisiana & Mississippi Railroad Transfer Company — | |
| Incline and other landing facilities at Delta Point, La., for indefinite period from July 1, 1907; stipulated payment $7,000 per annum, plus $3,000 for maintenance. | 7,000.00 |
| The Arkansas & Louisiana Midland Railway Company — | |
| Passenger terminal facilities at Monroe, La.; for indefinite period from May 1, 1911, also certain tracks in Monroe, La., for indefinite period from July 1, 1916; annual rental and maintenance fixed at $1,560. | 411.22 |
| Jointly owned and jointly used, owned and used with — | |
| The Chicago, Rock Island and Pacific Railway Company — | |
| Station building at Ruston, La.; for indefinite period from Feb. 12, 1910; The Chicago, Rock Island and Pacific Railway Company pays annual rental of 5 per cent on $1,050, the agreed value of land provided by the Vicksburg, Shreveport & Pacific in excess of that furnished by the former company; maintenance divided equally, and operating expenses divided on basis of use. | 62.44 |
| Jointly used, but not owned, owned by— | |
| The Alabama and Vicksburg Railway Company— | |
| Facilities for interchanging passenger and freight traffic in Vicksburg, Miss., including city and river terminals; no written agreement; Vicksburg, Shreveport & Pacific pays one-third cost of operating freight terminals, one-fourth cost of operating passenger station, and switching charges for movement of freight traffic to and from Wicksburg, Miss., and to and from The Yazoo and Mississippi Valley Railroad Company. In connection with the joint use of these facilities, the Vicksburg, Shreveport & Pacific has arrangements with The Louisiana & Mississippi Railroad Transfer Company for the ferrying of its trains from Delta Point, La., across the Mississippi River, to Vicksburg, Miss. | ...... |
In addition, the telegraph pole line property located along the railroad of the Vicksburg, Shreveport & Pacific is in part owned and used by that company and in part owned and used by the Western Union Telegraph Company. Part of the telegraph line so owned by each company is jointly used by the other company. However, the Vicksburg, Shreveport & Pacific reserves the right to use for railroad purposes only the telegraph property it leases to the Western Union Telegraph Company. These arrangements with the Western Union Telegraph Company for joint use of the property, as well as for the construction and maintenance of the telegraph lines on the right of way of the Vicksburg, Shreveport & Pacific, are covered by an agreement dated February 12, 1885, and subsequent amendments thereto, for an indefinite period, subject to six months' notice.