Wikipedia:WikiProject Trains/ICC valuations/Union Railway (Memphis, Tennessee)

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The railroad operated by the Union Railway Company (Memphis, Tenn.), herein called the Union Railway of Memphis, is a single-track, standard-gage, steam switching road, forming a belt line in and around the city of Memphis, Tenn.

The Union Railway of Memphis wholly owns 17.891 miles of road, extending from Kentucky to Auction Streets, with branches, and jointly owns with another carrier 0.913 undivided mile of road, all of which it uses. It also wholly uses 1.081 miles of road owned by a lessor whose entire common-carrier property it leases and operates, as described in the following paragraph.

The railroad of The Iron Mountain Railroad Company of Memphis, herein called the Iron Mountain Railroad, is a single-track line, extending from Kansas Avenue to Calhoun Street. The property forms a link in the Union Railway of Memphis' belt line.

The Union Railway of Memphis is controlled by the Missouri Pacific Railroad Company. It is a part of the latter carrier's system, providing access to the many industries located at Memphis.

The Union Railway of Memphis wholly owns and uses 44.767 miles of all tracks, jointly owns and uses 4.544 undivided miles of all tracks, wholly uses but does not own 7.874 miles of all tracks, and jointly uses but does not own 1.131 undivided miles of all tracks. These tracks, consisting of main track and yard tracks and sidings, are classified in the trackage table in Appendix 1.


CORPORATE HISTORY

The Union Railway of Memphis was incorporated January 20, 1886, under the general laws of Tennessee, for the purpose of constructing a belt line of railroad in and around the city of Memphis, Tenn.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The wholly owned mileage of the Union Railway of Memphis, amounting to 17.891 miles of main track and 26.876 miles of yard tracks and sidings, was all acquired by construction which was performed in part under contract by Guy Phillips, contractor, and in part by its own forces. The jointly owned mileage, amounting to 0.913 mile of main track and 3.631 miles of yard tracks and sidings, was acquired by construction and purchase. The first section of line was completed and placed in operation February 1, 1905. Subsequently additions were made to the property and interest obtained in certain tracks of other carriers, the exact details of which were not determined.

HISTORY OF CORPORATE FINANCING


CORPORATE HISTORY

The Iron Mountain Railroad was incorporated August 25, 1886, under the general laws of Tennessee, for the purpose of constructing and operating a railway within and around the city of Memphis and in Shelby County, Tenn.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The entire property, 1.081 miles of main line and 6.793 miles of yard and sidetracks, owned by the Iron Mountain Railroad on date of valuation was all acquired by construction which was done between August, 1886, and August, 1890, by The Missouri Pacific Railway Company, the principal predecessor of the Missouri Pacific Railroad Company.

HISTORY OF CORPORATE FINANCING