Wikipedia:WikiProject Trains/ICC valuations/Acme Tap Railroad
Interstate Commerce Commission, Valuation Reports, Volume 134
Acme Tap Railroad
[edit]Location and General Description of Property
[edit]The railroad of the Acme Tap Railroad Company, herein called the Acme Tap Railroad, is a single-track line, extending from Acme to Agatite, Tex., 1.510 miles.
Introductory
[edit]The Acme Tap Railroad is a corporation of the State of Texas, having its principal office at Quanah, Tex. This company has not kept accounting records and has not filed annual reports with us. The information given below has been obtained from its corporate records and from the Fort Worth and Denver City's records. The Acme Tap Railroad is controlled, through owner ship of the entire capital stock, except directors' qualifying shares, by the Fort Worth and Denver City. On the other hand, the Acme Tap Railroad, itself, does not control any other common-carrier corporation. Its property has been leased for operation to other companies since the date acquired: By the Fort Worth and Denver City from December, 1899, to March 31, 1903; by the Acme, Red River & Northern Railway Company and its successor, the Quanah, Acme & Pacific Railway Company, from April 1, 1903, to January 31, 1914, and again by the Fort Worth and Denver City from February 1, 1914, to date of valuation.
Corporate History
[edit]The Acme Tap Railroad was incorporated January 7, 1899, under the general laws of the State of Texas, for the stated purpose of acquiring and operating a railroad to extend from a connection with the road of the Fort Worth and Denver City at or near Acme, Tex., to the plant of the Salina Cement Plaster Company, now the American Cement Plaster Company. It perfected its organization January 16, 1899.
Development of Fixed Physical Property
[edit]The company's mileage was acquired through construction. The right of way was acquired by the Acme Tap Railroad, itself, and the construction work was performed by the Fort Worth and Denver City, under the terms of a contract dated January 16, 1899, hereinafter explained. The road, with the exception of a spur, was constructed in 1899; the spur was constructed in 1917.
Leased Railway Property
[edit]The property of the Acme Tap Railroad was perpetually leased for operation to the Fort Worth and Denver City under the provisions of a contract dated January 16, 1899, hereinbefore mentioned. The lease provisions of this contract were superseded for the period from April 1, 1903, to January 31, 1914, by a lease given to another carrier, but were again placed in effect on February 1, 1914, and are still effective. The arrangements under which the property is now leased have been stated in leased railway property chapter of the report on the lessee.