Wikipedia:WikiProject Trains/ICC valuations/Fordyce and Princeton Railroad

http://books.google.com/books?id=k91DAAAAIAAJ

The railroad of Fordyce and Princeton Railroad Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in the south-central part of Arkansas. The owned mileage extends northerly from Fordyce, Ark., to Trigg, Ark., a distance of 12.079 miles, with a branch of 4.909 miles extending northwest from Cynthiana, on the main line, to Bryant's Spur. The total length of the main line and branch is 16.988 miles. The carrier also owns yard and side tracks totaling 2.773 miles. Its road thus embraces 19.761 miles of all tracks owned. In Appendix 1 will be found a general description of the property of the carrier.

Corporate history.—The carrier was incorporated in Arkansas on February 25, 1890, for a term of 99 years, under authority of an act of July 23, 1868, providing for the incorporation of railroads within that State, and acts supplemental thereto. The stated purposes of the corporation were to construct, equip, operate, and maintain a railroad from a point on St. Louis, Arkansas and Texas Railroad (now St. Louis Southwestern Railway Company), in or near the town of Fordyce, in the county of Dallas, State of Arkansas, to a point in or near the town of Princeton, in said county and State, following the most favorable and feasible route, estimated at 20 miles in length. The principal office of the carrier is at Fordyce, Ark. The carrier is controlled by the Crossett Land and Investment Company, which, as well as the Fordyce Lumber Company, is controlled by E. W. Gates, J. W. Watzek, and E. S. Crossett. The detailed facts as to the development of the fixed physical property are given in Appendix 2.

History of corporate financing, capital stock, and long-term debt.—

APPENDIX 2

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The property owned by the carrier on valuation date was acquired by purchase from the Fordyce Lumber Company, which constructed 2 miles of the present line as early as 1892. Subsequently, as its operations demanded, the Fordyce Lumber Company extended the line so as to reach its standing timber. There are no records to be had relating to the construction. The accounting records of the carrier were not opened until December, 1906, at which time it acquired what was known as the main line from Fordyce to Bryant's Spur, approximately 11 miles, and a branch line from Bryant's Spur to Old Junction, approximately 11 miles, together with two Shay engines and 90 cars of various kinds.

Prior to June, 1911, that part of the line between Bryant's Spur and Old Junction was abandoned. During January, 1911, about 6 miles of track lying between Cynthiana and Trigg was purchased from the Fordyce Lumber Company. This completed the mileage of road owned and operated on valuation date.

HISTORY OF CAPITAL FINANCING