Wikipedia:WikiProject Trains/ICC valuations/Muscatine, Burlington and Southern Railroad

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The railroad of Muscatine, Burlington and Southern Railroad Company, hereinafter referred to as the carrier, is a single-track standard-gauge steam railroad, situated entirely within the State of Iowa. The owned mileage extends from Burlington to Oakville, a distance of 19.354 miles, and from Elrick Junction to Muscatine, a distance of 28.837 miles. In addition to the foregoing 48.191 miles of road, the carrier owns 9.059 miles of yard tracks and sidings, or a total of 57.250 miles of all tracks. The carrier uses under trackage agreements the tracks of the Chicago, Rock Island and Pacific Railway Company between Rock Island Junction and Burlington, a distance of about 2.20 miles, and those of The Minneapolis & St. Louis Railroad Company between Oakville and Elrick Junction, a distance of about 3.80 miles.

Corporate history.—The carrier was incorporated under the general laws of the State of Iowa, through filing articles of incorporation dated February 8, 1905, as the Muscatine North and South Railway Company. The purpose of incorporation was to acquire and operate the property of the Muscatine North and South Railroad Company, which was incorporated in Iowa on February 15, 1893. The property of the Muscatine North and South Railroad Company was sold under foreclosure proceedings on February 8, 1905, and conveyed by deed of that date to the Muscatine North and South Railway Company.

On September 16, 1914, the carrier's property was placed in the hands of a receiver. The carrier was refinanced under an agreement with E. R. Moore, dated July 27, 1916. The receiver was discharged on October 17, 1916. The corporate name was changed, in accordance with the terms of the agreement with Moore, from that of the Muscatine North and South Railway Company to that which the carrier now bears. [?] The carrier's principal office is at Muscatine.

No accounting records of the Muscatine North and South Railway Company are obtainable for the period prior to July 1, 1906, or about one year after the incorporation of that company, and the minutes of directors' meetings of both the carrier and the Muscatine North and South Railway Company for the period covered by this report are incomplete.

Information as to the development of the carrier's fixed physical property is given in Appendix 2.

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

APPENDIX 2

MUSCATINE, BURLINGTON & SOUTHERN RAILROAD COMPANY

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

That portion of the carrier's road which lies between Muscatine and Elrick Junction, a distance of 28.837 miles, was acquired on February 8, 1905, from the Muscatine North and South Railroad Company. All of this property had been constructed by the Muscatine North and South Railroad Company under contract. The carrier's line between Oakville and Burlington was acquired by construction. The construction was commenced in 1902, and the road was acquired for operation in 1912. The General Construction Company performed, under contract, an unknown portion of the construction work, the remainder of the work being done by the carrier's own forces. The relationship between the carrier and the General Construction Company has not been established.

HISTORY OF CORPORATE FINANCING