Wikipedia:WikiProject Trains/ICC valuations/Kansas City, Excelsior Springs and Northern Railway

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The railroad of the Kansas City, Excelsior Springs and Northern Railway Company, herein called the Kansas City, Excelsior Springs and Northern, is a single-track line located entirely within the State of Missouri and extending from Excelsior Springs Junction to Excelsior Springs, 8.667 miles.


CORPORATE HISTORY

The Kansas City, Excelsior Springs and Northern was incorporated November 23, 1897, for a period of 999 years, under the general laws of Missouri, for the purpose of constructing, maintaining, and operating a standard-gage railroad in Missouri. The date of organization has not been ascertainable from the records reviewed.

The company acquired by deed, dated December 28, 1897, the property, rights, and franchises of the Excelsior Springs Railroad Company, which had been sold at foreclosure sale on December 27, 1897. The Excelsior Springs Railroad Company, the only predecessor, was incorporated January 4, 1893, under the general laws of Missouri. Its property, rights, and franchises were sold at foreclosure December 27, 1897, and were later acquired by the Kansas City, Excelsior Springs and Northern, as stated above.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage extending from Excelsior Springs Junction to Excelsior Springs, Mo., 8.667 miles, was acquired by purchase after foreclosure proceedings from the Excelsior Springs Railroad Company. The Kansas City, Excelsior Springs and Northern acquired from the Excelsior Springs Railroad Company 9.70 miles and subsequently on October 19, 1907, abandoned 0.60 mile, leaving a net recorded mileage of 9.10 miles. This mileage was constructed by the Excelsior Springs Railroad Company and placed in operation September 10, 1893. There is a difference of 0.433 mile between the mileage recorded by this company, 9.10 miles, and the mileage, 8.667 miles, inventoried as of date of valuation.

HISTORY OF CORPORATE FINANCING