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

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The railroad of The New Orleans, Texas & Mexico Railroad Company, herein called the New Orleans, Texas & Mexico, is a standard-gage, steam railroad, located in the State of Louisiana. Its owned mileage extends from Anchorage to DeQuincy, La., 137.630 miles, with branch lines from Eunice to Crowley, La., and from Erwinville to Mix, La., aggregating 35.256 miles. Of the total mileage stated, 0.620 mile is double track. The New Orleans, Texas & Mexico solely uses, under lease, terminal property at New Orleans.

Trains of the New Orleans, Texas & Mexico are transferred by boat across the Mississippi River between Baton Rouge and Anchorage, La. Through trackage rights over lines of other carriers; the New Orleans, Texas & Mexico operates from DeQuincy, La., to the Louisiana-Texas State line, to the Louisiana-Texas State line, and from Baton Rouge to New Orleans, La., a total distance of 113.15 miles.

The New Orleans, Texas & Mexico wholly owns 172.886 miles of road, all of which it uses. It also wholly uses, under lease, the property of the Louisiana Southern Railway Company, which consists of a single-track, steam railroad, extending from New Orleans, La., to Bohemia and Shell Beach, La., aggregating 65.658 miles of road. The lessor company is reported upon in section 2.

APPENDIX 2

INTRODUCTORY

The New Orleans, Texas & Mexico is a corporation of the State of Louisiana, havings[sic] its principal office at New Orleans, La. It is controlled by the St. Louis and San Francisco Railroad Company through ownership of the entire capital stock, except, directors' qualifying shares.

The property was operated by its own organization from September 1, 1909, to July 5, 1913, when A. D. Lightner was appointed temporary receiver. On July 9, 1913, the United States District Court for the Eastern District of Louisiana appointed J. D. O'Keefe receiver, who has continued to operate the property to date of valuation.

CORPORATE HISTORY

The New Orleans, Texas & Mexico was originally incorporated May 8, 1905, under the laws of the State of Louisiana, as the Colorado Southern, New Orleans and Pacific Railroad Company. By amendment to the charter on March 21, 1910, the name of the corporation was changed to New Orleans, Texas & Mexico Railroad Company.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the New Orleans, Texas & Mexico, amounting to 172.88 miles, was constructed by or for account of the New Orleans, Texas & Mexico and the Colorado Southern, New Orleans and Pacific. Preliminary surveys were begun in May, 1905, and were completed in the early part of 1906.

Under contract dated October 18, 1905, as supplemented by another contract dated January 22, 1906, entered into by and between the Colorado Southern, New Orleans and Pacific and the Gulf Construction Company, which was affiliated with the St. Louis and San Francisco Railroad Company, the construction company obligated itself, among other things, to construct about 142 miles of main line and 50 miles of branches. The construction company on November 8, 1905, contracted with Kenefick, Hammond, and Quigley for a portion of the construction of certain located mileage of the Colorado Southern, New Orleans and Pacific. On April 14, 1906, before any payments had been made to the contractors by the construction company, an agreement was entered into by and between that company and the Colorado Southern, New Orleans and Pacific, under the terms of which the contracts of October 18, 1905, and January 22, 1906, were canceled and the Colorado Southern, New Orleans and Pacific assumed all contracts made by the construction company for the construction of the line, and the acquisition of certain property, and acquired the assets of that company. In consideration of the above the Colorado Southern, New Orleans and Pacific paid to the construction company $2,200,000 in cash.

The original line of road, from Anchorage to DeQuincy, La., approximately 137.63 miles, and from Eunice to Crowley, La., about 22.37 miles, was constructed partly by independent contractors and partly by the company's own forces. The principal contractors engaged on the original line were Kenefick, Hammond, and Quigley; Kenefick, Hodman, and Quigley; and Kahmann and McMurray. Both lines were opened for operation on September 1, 1909.

The roadbed and bridges of the branch line from Erwinsville to Mix, La., about 12.88 miles, were constructed by P. M. Johnston, Son and Allhands, under contracts of May 31, 1910, and May 15, 1911. The remainder of the work was completed by the forces of the New Orleans, Texas & Mexico and individuals and companies, with whom no formal contracts were made. This line was completed and opened for operation some time in 1911.

HISTORY OF CORPORATE FINANCING