Wikipedia:WikiProject Trains/ICC valuations/Cincinnati, Burnside and Cumberland River Railway
Interstate Commerce Commission, Valuation Reports, Volume 37
Cincinnati, Burnside & Cumberland River Railway
[edit]Location and General Description of Property
[edit]The railroad of the Cincinnati, Burnside & Cumberland River Railway Company, herein called the Cincinnati, Burnside & Cumberland River, is a single-track, standard-gage, steam railroad, located in southeastern Kentucky. The main line extends from Burnside to Burnside Landing at the confluence of the Cumberland and South Fork Rivers, 1.358 miles. The company also owns 2.462 miles of yard tracks and sidings. Its road thus embraces 3.820 miles of all tracks owned and used.
The Cincinnati, Burnside & Cumberland River is controlled by The Cincinnati, New Orleans & Texas Pacific Railway Company. Its tracks serve as a connection between the controlling company's line and river traffic, and also as a belt railway for the controlling company and the industries at Burnside, Ky. Its property forms a part of the Southern Railway system.
Introductory
[edit]The Cincinnati, Burnside & Cumberland River is a corporation of the State of Kentucky, having its principal office at Ludlow, Ky. It is controlled by The Cincinnati, New Orleans & Texas Pacific Railway Company through ownership of its entire outstanding capital stock. On the other hand, the records do not indicate that this company controls any common-carrier corporation. The property of the Cincinnati, Burnside & Cumberland River was operated by its own organization from the date of acquirement thereof to December 31, 1917. On January 1, 1918, the common-carrier property of the Cincinnati, Burnside & Cumberland River was taken over for operation by the United States Railroad Administration, which still operates it on date of valuation.
Corporate History
[edit]The Cincinnati, Burnside & Cumberland River was incorporated August 4, 1905, under the general laws of the State of Kentucky, for the purpose of constructing, purchasing or leasing, and operating a railroad from Burnside Junction to Burnside Landing, Ky. The date of its organization was August 8, 1905.
The Cincinnati, Burnside & Cumberland River acquired by purchase the property, rights, and franchises of The Burnside and Cincinnati Railway Company. The Cincinnati, Burnside & Cumberland River, itself, and that corporation, together with its predecessor, total three different corporations and comprise the line of corporate succession culminating in the Cincinnati, Burnside & Cumberland River as at present constituted. The following chart shows the names of the corporations in the line of corporate succession, the respective dates 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. | Cincinnati, Burnside & Cumberland River Railway Company. | Under general laws of Kentucky, Aug. 4, 1905. | |
| 2 | The Burnside and Cincinnati Railway Company. | Under general laws of Kentucky, July 27, 1903. | Sold to 1, Aug. 10, 1905. |
| 3 | The Burnside and Cumberland River Railway Company. | Under general laws of Kentucky, May 10, 1890. | Sold to 2, July 17, 1905. |
Leased Railway Property
[edit]The property of the Cincinnati, Burnside & Cumberland River, devoted to common-carrier purposes, was taken over for operation by the United States Railroad Administration on January 1, 1918, and is so operated on date of valuation.
Predecessor Companies
[edit]The Burnside and Cincinnati Railway Company
[edit]This company was incorporated July 27, 1903, in the State of Kentucky. No accounting records of the company were obtained. Therefore, no information can be given from its accounts regarding its financing dealings, corporate operations, or investments. The records reviewed do not indicate whether the company was controlled by any individual or corporation on August 10, 1905, the date of sale, nor, on the other hand, whether it then controlled any common-carrier corporation. The property of the company was operated by its own organization from the date of acquirement thereof to the date of sale. The railroad owned by the company consisted of 1.614 miles of single-track, standard-gage, steam railroad, extending from Burnside Junction to Burnside Landing, Ky. This property had been acquired by purchase from The Burnside and Cumberland River Railway Company.
The Burnside and Cumberland River Railway Company
[edit]This company was incorporated May 10, 1890, in the State of Kentucky. No accounting records of the company were obtained. Therefore no information can be given from its account regarding its financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from a report filed by the company with this commission for the year ending June 30, 1905. The records reviewed do not indicate whether the company was controlled by any individual or corporation on July 17, 1905, the date of sale, nor, on the other hand, whether it then controlled any common-carrier corporation. The property of the company was operated by its own organization from the date of acquirement thereof to the date of sale. The railroad, owned by the company consisted of 1.614 miles of single-track, standard-gage, steam railroad, extending from Burnside Junction to Burnside Landing, Ky. This property was all acquired by construction. It is not known whether the construction work was performed by the company's forces or by contract. Further details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Cincinnati, Burnside & Cumberland River.