Wikipedia:WikiProject Trains/ICC valuations/Port Bolivar Iron Ore Railway
Interstate Commerce Commission, Valuation Reports, Volume 127
Port Bolivar Iron Ore Railway
[edit]Location and General Description of Property
[edit]The railroad of Port Bolivar Iron Ore Railway Company, hereinafter called the Port Bolivar Iron Ore Railway, which is leased to and operated by the Gulf, Colorado and Santa Fe, is a single-track standard-gauge steam railroad, located in the northeastern part of Texas, extending northerly from Longview to Ero, a distance of 29.609 miles.
Introductory
[edit]The Port Bolivar Iron Ore Railway is a corporation of the State of Texas, having its principal office at Longview, Tex. It is controlled by Katherine Jane Sharp of Kansas City, Mo. On the other hand, the records do not indicate that the company itself controls any other carrier corporation.
The property is being operated by the Gulf, Colorado and Santa Fe, on date of valuation, under the terms of a lease for five years from July 1, 1914. How the property was operated prior to that date has not been determined. No general books of the company have been found and as a consequence but little can be stated with respect to its activities.
Corporate History
[edit]The Port Bolivar Iron Ore Railway was incorporated under the general laws of Texas December 14, 1910, for a period of 50 years. Its stated purpose was to construct a railroad from Longview, Gregg County, to a point in Cass County, Tex., about 10 miles north of Hughes Springs, a distance of about 50 miles.
Development of Fixed Physical Property
[edit]No information has been obtained regarding the development of the property other than that the road was constructed during the years 1911 and 1912.
Leased Railway Property
[edit]The railroad of the Port Bolivar Iron Ore Railway is being used, on date of valuation, by the Gulf, Colorado and Santa Fe under lease for sole operation for a term of five years from July 1, 1914. The lease provides that the Gulf, Colorado and Santa Fe shall pay for such use an annual rental of $40,000 and all taxes and assessments.