This company granted to The Missouri, Kansas & Texas Railway Company of Texas and the International and Great Northern Railway Company the joint use of its tracks and facilities between Houston and Galveston, Tx.
The property of the carrier was operated by its own organization from December 1, 1882, to March 6, 1883; from the latter date to December 22, 1895, it was operated by the International and Great Northern Railroad Company under an operating agreement. During the period from December 23, 1895, to December 31, 1917, it was operated by its own organization.
On January 1, 1918, its common-carrier property was taken over for operation by the United States Railroad Administration, which still operates it on date of valuation. As of date of valuation no separation has been made between the corporate accounts and those of the United States Railroad Administration.
The carrier was organized December 1, 1882, by Russell Sage and Jay Gould and associates under the original charter granted to the Galveston, Houston and Henderson Railroad Company (of 1853), for the purpose of acquiring the property of the Galveston, Houston and Henderson Railroad Company (of 1871). $100 Bond printed by John F. Trow.