Wikipedia:WikiProject Trains/ICC valuations/Alabama and Vicksburg Railway

From Wikipedia, the free encyclopedia
Jump to: navigation, search

http://books.google.com/books?id=I-tDAAAAIAAJ

INTRODUCTORY

The Alabama and Vicksburg is a corporation of the State of Mississippi, having its principal corporate office at Jackson, Miss., and its principal business office at New Orleans, La. It is controlled by The Sterling Trust, Limited, of London, England, through ownership of about 56 per cent of its capital stock. On the other hand, this company, itself, has control jointly with other companies over other common-carrier corporations, as indicated below:

  • Louisiana and Mississippi Railroad Transfer Company per cent 49
    • Controlled jointly by the Alabama and Vicksburg and the Vicksburg, Shreveport & Pacific Railway Company.
  • Meridian Terminal Company per cent 20
    • Controlled jointly by the Alabama and Vicksburg, The Alabama Great Southern Railroad Company, the Mobile and Ohio Railroad Company, the New Orleans and Northeastern Railroad Company, and the Southern Railway Company.

The property of the Alabama and Vicksburg was operated by its own organization from the dates acquired by it until December 31, 1917. On January 1, 1918, its common-carrier property was taken over for operation by the United States Railroad Administration, which still operates it.

CORPORATE HISTORY

The Alabama and Vicksburg was incorporated March 19, 1889, under the general laws of the State of Mississippi, as a reorganization of The Vicksburg and Meridian Railroad Comany [sic]. The following chart shows the names of the corporations comprising the line of corporate succession of the Alabama and Vicksburg, the respective date 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 The Alabama and Vicksburg Railway Company. Under general laws of Mississippi, Mar. 18, 1889, as a reorganization of 2.
2 The Vicksburg and Meridian Railroad Company. See 3. Sold at foreclosure sale Feb. 4, 1889, after receivership begun Oct. 29, 1885, and reorganized as 1 May 15, 1889.
3 The Southern Railroad Company. By special act of Alabama, approved Jan. 6, 1846, and special act of Mississippi, approved Feb. 23, 1846, but company failed to organize under these authorizations.
Incorporation revived by special act of Mississippi, approved Mar. 9, 1850, as a Mississippi corporation.
Name changed to 2, by special act of Mississippi, approved Jan. 28, 1867.
4 The Vicksburg and Jackson Railroad Company. See 5. Sold to 3 by contract of sale dated Jan. 8, 1857, and deed dated Mar. 18, 1857.
5 The President, Directors, and Company of the Commercial and Railroad Bank of Vicksburg. By special act of Mississippi, approved Dec. 25, 1833. Name changed to 4 by special act of Mississippi, approved Mar. 9, 1850.
6 The Clinton and Vicksburg Railroad Company. By special act of Mississippi, approved Dec. 19, 1831. Charter transferred to 5 by special act of Mississippi, approved Dec. 25, 1833, which incorporated 5.
7 The Jackson and Brandon Railroad and Bridge Company. By special act of Mississippi, approved Feb. 5, 1836.
Revived by special act of Mississippi, approved Feb. 5, 1841, as successor of 8.
Charter rights transferred to 8 by special act of Mississippi, approved Feb. 5, 1836[sic].
Property transferred to 3 in July, 1852, by governor of Mississippi, who received his authority by special act of Mississippi, approved March 8, 1852.
8 The Mississippi and Alabama Railroad Company. By special act of Mississippi, approved Feb. 9, 1836. Made successor of 7 by special act of Mississippi, approved Feb. 5, 1838. Charter revoked and charter rights transferred to 7 by special acts of Mississippi, approved Feb. 21, 1840, and Feb. 5, 1841, respectively.
DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the Alabama and Vicksburg, amounting to 141.522 miles, was all acquired by purchase in the reorganization of 1889. The names of the corporations which constructed the property, and the dates of construction, are indicated below.

Acquired from The Vicksburg and Meridian Railroad Company in the reorganization of 1889 143
Constructed by The Vicksburg and Jackson Railroad Company—
Vicksburg to Jackson, Miss., completed about 1840 42
Constructed by The Jackson and Brandon Railroad and Bridge Company—
Jackson to Brandon, Miss., completed not later than 1849 14
Constructed by The Vicksburg and Meridian Railroad Company-
Brandon to Morton, Miss., completed in 1858 21
Morton to Meridian, Miss., completed in 1861 64
In or near Vicksburg, Miss., constructed from 1872 to 1874 2
Decrease in mileage due to rearrangement of tracks at Vicksburg, Miss., by the Alabama and Vicksburg in 1899 and in 1917 2
Total recorded mileage 141
Difference between recorded mileage and mileage inventoried as of date of valuation 0.522
Mileage inventoried as of date of valuation 141.522
HISTORY OF CORPORATE FINANCING