Wikipedia:WikiProject Trains/ICC valuations/Franklin and Abbeville Railway

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The railroad of The Franklin and Abbeville Railway Company, herein called the carrier, is a single-track, standard-gage, steam railroad, extending in a northwesterly direction in two disconnected sections from Sterling to Sterling Junction and Franklin and Abbeville Junction to Davids Junction, with spurs from Sterling to Columbia and Sterling to Camperdown, all in Louisiana, a total of 22.665 miles. The carrier also operates over the line of the Morgan's Louisiana and Texas Railroad and Steamship Company from Davids Junction to Milton, La., the right of way, however, being owned by the carrier. The carrier wholly owns and uses 37.131 miles of all tracks and wholly uses but does not own 21.061 miles of all tracks, which are classified in the trackage table in Appendix 1.

CORPORATE HISTORY

The carrier was incorporated March 16, 1903, under the general laws of the State of Louisiana, for the stated purpose of acquiring and operating a railroad to extend from Franklin, La. It acquired the property of the Franklin and Abbeville Railroad Company by purchase at a receiver's sale on March 20, 1903. No information respecting this demised company's corporate history has been obtained.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of this company, amounting to 22.665 miles, was acquired partly through purchase and partly through construction, as indicated below.

Acquired through purchase from the receiver of the Franklin and Abbeville Railroad Company, Mar. 20, 1903:

Sterling to Sterling Junction, La. 2.033

(Details respecting the construction of this section were not obtained. The carrier reconstructed the road about 1903.)

Acquired partly through purchase from the receiver of the Franklin and Abbeville Railroad Company, Mar. 20, 1903, and acquired partly through construction during 1903:

F. & A. Junction to Davids Junction, La. 20.632

(The Franklin and Abbeville Railroad Company owned about 11 miles of this section, but the details of the construction were not obtained. The carrier reconstructed this purchased property, and also constructed the remaining mileage of this section, about 1903.)

Total 22.665

The carrier also acquired right of way for a railroad extending from Davids Junction to Milton, La. Further information respecting this mileage is given in the chapter devoted to leased railway property.

HISTORY OF CORPORATE FINANCING