Wikipedia:WikiProject Trains/ICC valuations/Doniphan, Kensett and Searcy Railway

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The railroad of the Doniphan, Kensett and Searcy Railway, hereinafter called the carrier, is a single-track standard-gauge steam railroad, extending from Kensett in a westerly direction to Searcy, with a branch line extending from Kensett in a northerly direction to Doniphan, all within the State of Arkansas. The company owns 5.805 miles of first main track and 1.316 miles of yard tracks and sidings. Its road thus embraces 7.121 miles of all tracks owned. The carrier is an industrial railroad, controlled by or in the interest of the Doniphan Lumber Company. The records reviewed do not indicate the relative amount of traffic handled for the industry and for the general public.

CORPORATE HISTORY

The carrier was incorporated May 22, 1909, under the general laws of the State of Arkansas, for the purpose of acquiring the property, rights, and franchises of the Doniphan, Kensett and Searcy Railroad Company. The date of the organization of the carrier was May 22, 1909. The Doniphan, Kensett and Searcy Railroad Company was incorporated March 20, 1906, under the general laws of the State of Arkansas. Its property, rights, and franchises were sold to the carrier on May 22, 1909.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the carrier amounting to 5.805 miles was all acquired, on May 22, 1909, by purchase from the Doniphan, Kensett and Searcy Railroad Company, which had constructed the road during the period March 20, 1906, to December 31, 1908. In addition to the railroad acquired by purchase, the carrier constructed, operated, and abandoned during the period May 20, 1909, to December 31, 1916, a branch line extending from Letona to Raywinkle, Ark., about 14.96 miles, and one from Letona to North Spur Bridge, about 0.41 mile. The rails and track fastenings in the road of the carrier are leased from the Missouri Pacific Railroad Company.

HISTORY OF CORPORATE FINANCING