Wikipedia:WikiProject Trains/ICC valuations/Canton, Aberdeen and Nashville Railroad
Interstate Commerce Commission, Valuation Reports, Volume 46
The Canton, Aberdeen and Nashville Railroad edit
Location and General Description of Property edit
The railroad of The Canton, Aberdeen and Nashville Railroad Company, hereinafter called the Canton, Aberdeen and Nashville, is a single-track line, from Kosciusko to Aberdeen, Miss., 87.696 miles.
Introductory edit
The Canton, Aberdeen and Nashville is a corporation of the State of Mississippi, having its principal office at Chicago, Ill. It is controlled by the Chicago, St. Louis and New Orleans through ownership of its entire outstanding capital stock. The latter, in turn, is controlled by the Illinois Central. On the other hand, the records do not indicate that this company, itself, controls any common-carrier corporation.
The property of the Canton, Aberdeen and Nashville has been operated by the Illinois Central since 1887.
Corporate History edit
The Canton, Aberdeen and Nashville was incorporated February 17, 1882, by special act of Mississippi.
Development of Fixed Physical Property edit
The road owned, amounting to 87.696 miles, and extending from Kosciusko to Aberdeen, Miss., was acquired by construction which was commenced in December 1882, completed in December 1884.
Leased Railway Property edit
The property of the Canton, Aberdeen and Nashville is leased to the Illinois Central under agreement dated March 31, 1888, for the period terminating June 1, 1952. As rental consideration, the Illinois Central agreed to pay to the Canton, Aberdeen and Nashville the net earnings semiannually, which was to amount to at least $60,000 per year. Effective July 1, 1910, the Illinois Central ceased to allow the Canton, Aberdeen and Nashville the annual guarantee under the lease, and absorbed the net results from operation in its own accounts. It also concurrently waived all claims for interest on the first-mortgage bonds of the Canton, Aberdeen and Nashville owned by it.