Wikipedia:WikiProject Trains/ICC valuations/Mississippi Export Railroad

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The railroad of the Mississippi Export Railroad Company, hereinafter called the carrier, is a single-track, standard-gage, steam railroad, located in the southeastern section of the State of Mississippi. The main line extends southerly from Evanston to Pascagoula, a distance of 41.939 miles. The carrier also owns 8.148 miles of yard tracks and sidings. Its road thus embraces 50.087 miles of all tracks wholly owned and used. In addition, the carrier jointly owns and uses with the Louisville and Nashville Railroad Company 0.098 undivided mile of sidings at Pascagoula, Miss.

CORPORATE HISTORY

The carrier was incorporated November 10, 1922, under general laws of Mississippi for the creation and organization of a railroad corporation, the southern terminus of the proposed railroad to be within corporate limits of Pascagoula, Jackson County, and the northern terminus to be at a point in George County, Miss., known as Luce's Farm. The date of organization was November 15, 1922.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The railroad of the carrier was acquired by purchase, under our authority (76 I.C.C. 405), from H. C. Turner under oral agreement made January 5, 1923, and written agreement dated April 17, 1923. Deed of conveyance was made October 1, 1926. The property acquired was formerly part of the railroad of the Alabama and Mississippi Railroad Company, abandonment of which was authorized by us October 21, 1921 (70 I.C.C. 531). The railroad was originally constructed during 1909 and 1910 by Pascagoula Northern Railroad Company, a predecessor of Alabama and Mississippi Railroad Company, and was reconstructed by the carrier and put in operation February 1, 1923. The recorded mileage is 42; the inventoried mileage 41.939.

HISTORY OF CORPORATE FINANCING