Wikipedia:WikiProject Trains/ICC valuations/Pine Bluff Arkansas River Railway

Corporate history.—The Pine Bluff Arkansas River Railway was incorporated January 26, 1898, under the general laws of the State of Arkansas for the purpose primarily of acquiring the property, rights, and franchises of the Pine Bluff and Eastern Railroad Company, which had been sold at foreclosure January 18, 1898, to John M. Taylor, trustee, and by him conveyed to the Pine Bluff Arkansas River Railway January 27, 1898. The Pine Bluff Arkansas River Railway, under its charter, was also granted authority to construct and operate a railroad in Arkansas, extending from Pine Bluff to a point at or near the town of Gillett, about 50 miles.

The Pine Bluff Arkansas River Railway had several predecessor companies, but no records of these demised companies were found, except minute books of the stockholders' and directors' meetings, indicating the acquisition of property or authorization of issues of securities. It appears from such data in regard to the predecessor companies as are now in the hands of the carrier that predecessor companies were incorporated as follows:

Pine Bluff and Swan Lake Railway Company June 11, 1884
Little Rock, Pine Bluff and White River Railway Company Nov. 28, 1884
Pine Bluff, Monroe and New Orleans Railway Company Dec. 18, 1884
Pine Bluff, Monroe and New Orleans Railway Company June 19, 1886
Pine Bluff and Eastern Railroad Company July 18, 1892

The predecessor company numbered 4 was a consolidation of the companies numbered 1, 2, and 3, which consolidation took place under a stockholders' agreement of May 4, 1885. At that time the physical property consisted of about 19 miles of narrow-gauge track, extending from Rob Roy to English. The consolidation consummated July 19, 1886, did not prove successful and the property involved was forfeited to the State of Arkansas on April 11, 1889, for unpaid taxes. On April 27, 1892, the United States Circuit Court entered an order transferring all the property to one F. M. Gillett, who, together with other creditors, then incorporated the Pine Bluff and Eastern on July 18, 1892, and the property passed to this company. In 1895 a receiver was appointed, and the property was sold at foreclosure January 18, 1898, and subsequently conveyed to the Pine Bluff Arkansas River Railway. The control of the Pine Bluff Arkansas River Railway is vested in the carrier through ownership of the entire capital stock and bonds. Its principal office is at Pine Bluff, Ark.

APPENDIX 2
DEVELOPMENT OF FIXED PHYSICAL PROPERTY

A part of the property of the Pine Bluff Arkansas River Railway, consisting of about 19 miles of narrow-gauge railroad, extending from Rob Roy to English, was acquired after foreclosure sale of the property of the Pine Bluff and Eastern Railroad Company. The Pine Bluff and Swan Lake Railway Company constructed the first 17 miles from Rob Roy to Swan Lake in 1884, and in 1887 the Pine Bluff and Eastern extended the line about 2 miles to English. The line was changed to standard gauge in 1898 by the Pine Bluff Arkansas River Railway, and in 1901 an extension of 5 miles to Reydel, on the Arkansas River, was constructed. In 1912 the line was extended about 2 miles to Waldstein, the present terminus.

HISTORY OF CORPORATE FINANCING