Wikipedia:WikiProject Trains/ICC valuations/Mississippi Eastern Railway

Wikipedia:WikiProject Trains/ICC valuations/Mississippi Eastern Railway

The Mississippi Eastern Railway Company, hereinafter called the carrier, owns and operates a single-track standard-gauge steam railroad, located entirely within the State of Mississippi, and extending from Quitman to Threadville, a distance of 16.61 miles. Yard tracks and sidings aggregate 2.391 miles and all tracks owned 19.001 miles.

Corporate history.—The carrier was incorporated on July 6, 1903, under the general laws of the State of Mississippi. Its principal office is at Quitman. Control is vested in the stockholders of the Mississippi Lumber Company. That portion of the property of the carrier from Quitman to a point near Brewer, Miss., about 11 miles, was acquired through purchase from the Mississippi Lumber Company. It is claimed that this property was conveyed to the carrier on April 26, 1905, by two deeds, one conveying the equipment and the other the right of way and other property. Neither of these deeds was recorded, and the instrument covering the right of way was afterwards inadvertently destroyed while in the possession of the carrier, which company secured a new deed from the Mississippi Lumber Company on February 16, 1916, in which the following statement appears: "This instrument is executed by order of the board of directors of the vendor to replace a former instrument which has been inadvertently destroyed conveying the same property." The deed conveying the equipment mentions the fact that the railroad right of way was conveyed by the Mississippi Lumber Company to the carrier on the same date by another and separate instrument.

This property was originally built by the Mississippi Lumber Company as a logging road. During the period from 1905 to 1908, the carrier constructed, with its own forces, an extension of about 6 miles from near Brewer to Threadville, Miss. A further extension from Threadville to Pine Ridge, a distance of about 10.77 miles, was completed in December, 1909, but was abandoned in March, 1915.

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

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