Wikipedia:WikiProject Trains/ICC valuations/Kansas and Missouri Railway and Terminal Company

The railroad of The Kansas and Missouri Railway and Terminal Company, hereinafter called the carrier, is a single-track, standard-gage, electrically operated road, located within the city limits of Kansas City, Kans. The main line extends from near Third Street and New Jersey Avenue, to a connection with the railroad of The Kansas City Southern Railway Company near Nineteenth and Miami Streets, a distance of 5.564 miles. The carrier also owns 4.626 miles of yard tracks and sidings. Its road thus embraces 10.190 miles of all tracks.

Under agreement dated December 31, 1925, The Kansas City, Kaw Valley and Western Railway Company furnishes electric locomotives, electric current, engine and train crews, and performs switching service for the carrier.

The carrier grants trackage rights over 0.03 mile of main track and 0.96 mile of yard tracks and sidings to The Kansas City, Kaw Valley and Western Railway Company.

The carrier is controlled by The Kansas City Southern Railway Company through ownership of its capital stock.

The property of the carrier is operated by its own organization as an electric line for freight service only. The electric current, locomotives, and crews have been supplied by The Kansas City, Kaw Valley and Western Railway Company since commencement of operation.

The acquisition by the Kansas City Southern Railway Company of control of the carrier by purchase of the capital stock was effected under authority granted November 18, 1924, 94 I.C.C. 127.

CORPORATE HISTORY

The carrier was incorporated November 15, 1922, under the general laws of Kansas, to acquire, construct, and operate a belt railroad with branches and sidetracks, connecting various railroads entering Kansas City, Kans. The date of its organization was November 23, 1922.

The carrier bas but one predecessor company, The Kansas City Outer Belt and Electric Railroad Company, which was incorporated May 20, 1902, under the general laws of Kansas. Its property, rights, and franchises were sold at foreclosure June 28, 1922, after receivership begun October 31, 1912, and were conveyed to the carrier by deed dated January 25, 1923.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The road, all owned, of 5.564 miles, extending from near Third Street and New Jersey Avenue to near Nineteenth Street and Miami Avenue, all in Kansas City, Kans., was acquired partly by purchase and partly by construction.

The carrier, under authority granted October 31, 1923, 82 I.C.C. 612, was authorized to construct and operate a belt-line railroad in Wyandotte County, Kans.

On January 25, 1923, the carrier acquired from Emil Metschan a partially constructed line between the points above named, which had been purchased by him at foreclosure sale from The Kansas City Outer Belt and Electric Railroad Company on June 28, 1922. The records indicate that a considerable portion of the grading and bridge work was performed by L. J. Smith, contractor, and an undetermined amount of construction was performed by the International Construction Company; also, that about 2 miles of rail were laid by The Kansas City, Kaw Valley and Western Railway Company. The remainder of the construction work was done by company forces. The construction period extended from 1902 to 1912.

The carrier completed the construction of the line with its own forces during the period January 25, 1923, to July 1, 1924.

The acquisition by the carrier of the uncompleted line of The Kansas City Outer Belt and Electric Railroad Company was under authority granted February 16, 1924, 86 I.C.C. 559.

HISTORY OF CORPORATE FINANCING