Wikipedia:WikiProject Trains/ICC valuations/Oklahoma Central Railroad
Interstate Commerce Commission, Valuation Reports, Volume 127
Oklahoma Central Railroad
[edit]Location and General Description of Property
[edit]The railroad of Oklahoma Central Railroad Company, hereinafter called Oklahoma Central Railroad, is a single-track line, located entirely within the State of Oklahoma and extending from Lehigh to Chickasha, a distance of 133.024 miles.
Introductory
[edit]The Oklahoma Central Railroad is a corporation of the State of Oklahoma, having its principal office at Muskogee, Okla. It is controlled by the Santa Fe through ownership of trustee's certificates of deposit representing ownership of a majority of its capital stock. On the other hand, the records reviewed indicate that the company itself does not control any other common-carrier corporation. The property of the Oklahoma Central Railroad has always been operated under lease by the Santa Fe.
Corporate History
[edit]The Oklahoma Central Railroad was incorporated July 31, 1914, under the general laws of the State of Oklahoma, as a reorganization of three corporations, named below, whose properties, rights, and franchises it acquired at its organization. The following chart shows the names of the various corporations, one of which underwent a change of name, the respective dates of incorporation, and for the predecessor corporations the date and manner of succession. Reference to each of these corporations is made by its respective number shown in the first column.
| No. | Name | Incorporation | Succession |
|---|---|---|---|
| 1. | Oklahoma Central Railroad Company. | Under general laws of Oklahoma, July 31, 1914, as a reorganization of 2, 4, and 5. | |
| 2. | Oklahoma Central Railway Company. | See 3. | Sold at foreclosure sale July 31, 1914, after receivership begun June 2, 1908. Acquired Aug. 1, 1914, by 1 through reorganization. |
| 3. | Canadian Valley & Western Railway Company. | Under general laws of Oklahoma, Sept. 20, 1904. | Name changed Sept. 27, 1905, to 2. |
| 4. | Chickasha Terminal Railway Company. | Under general laws of Oklahoma, Nov. 24, 1909. | Sold July 31, 1914, being included in the sale of 2, and acquired Aug. 1, 1914, by 1 through reorganization. |
| 5. | Ada Terminal Railway Company. | Under general laws of Oklahoma, Aug. 11, 1909. | Sold July 31, 1914, being included in the sale of 2, and acquired Aug. 1, 1914, by 1 through reorganization. |
Development of Fixed Physical Property
[edit]The mileage owned by the Oklahoma Central Railroad, amounting to 133.024 miles, was acquired by it through the reorganization of 1914. The companies from which the property was purchased, and the years in which the various portions of the line were constructed by such companies, are indicated in the statement following:
| Recorded mileage | |
|---|---|
| Acquired through the reorganization of 1914 from— | |
| Oklahoma Central Railway Company, constructed by that company, Lehigh to Chickasha, Okla., 1907 and 1908. | 127.65 |
| Chickasha Terminal Railway Company, constructed by that company, in or near Chickasha, Okla., 1910. | 2.44 |
| Ada Terminal Railway Company, constructed by that company, in or near Ada, Okla., 1909. | 1.93 |
| Total. | 133.02 |
| Difference between total recorded mileage and mileage inventoried as of date of valuation. | 0.004 |
| Mileage inventoried as of date of valuation. | 133.024 |
Leased Railway Property
[edit]The entire property of the Oklahoma Central Railroad is leased to the Santa Fe for a term of five years from August 1, 1914, renewable for a period of five years. The terms of the lease and the rental accrued for the year ending on date of valuation are given in the section on leased railway property in the report on the Santa Fe.