Missouri Pacific Corporation
The Missouri Pacific Corporation was a holding company in the field of rail transport and pipeline transport . In 1982 the St. Louis- based company merged with the Union Pacific Corporation .
history
The company was founded on February 8, 1928 as Mississippi River Fuel Corporation by Standard Oil Company (New Jersey) (22.5%), Columbian Carbon Company (17.1%), United Carbon Company (13.5%), Electric Power & Light Corporation (16.2%), Moody-Seagraves (20.7%) and Palmer Corporation (10.0%). founded. The company operated gas pipelines from the Richmond and Monroe gas fields in Louisiana to St. Louis and Alton to customers in Arkansas , Missouri and Illinois . In 1934 the shareholders were United Gas Corporation (subsidiary of Electric Power & Light) (46.9%), Standard Oil Co. (New Jersey) (22.5%), Columbian Carbon Company (17.1%) and United Carbon Company (13.5%). Planning and operation was initially carried out by Mississippi River Engineers Co., a 100% subsidiary of Standard Oil Co.
In 1949, William G. Marbury became president of the company and began to diversify the company's business. So from 1959 shares in the much larger Missouri Pacific Railroad were acquired. In 1962, the company owned the majority of votes in Missouri Pacific. Due to the capital structure of Missouri Pacific with different shareholder rights, there was a lawsuit in 1966 with the Alleghany Corporation regarding corporate control. This conflict was finally resolved in 1974 through a recapitalization and the Mississippi River Fuel received full control of the rail company. At that time she owned 66.3% of the shares.
In addition, Mississippi River Fuel acquired several companies in the concrete and cement production in 1963/1964. In 1965 the company was renamed Mississippi River Corporation. In 1974 the three main subsidiaries were the railway company, the Mississippi River Transmission Corporation (operating the gas pipelines) and the cement manufacturer River Cement Company. The railway company contributed 83%, pipelines 14% and cement production 3% to the total result.
In 1976 the company was renamed Missouri Pacific Corporation. From the late 1970s, the company began merger talks with other railway companies. Finally, in 1980, the company agreed with the Union Pacific Corporation to merge the two companies. The merger was approved on December 22, 1982. The railway subsidiary Missouri Pacific Railroad remained an independent company in the Union Pacific Group until January 1, 1997. The other holdings were sold by Union Pacific after the takeover.
Selma Hall
In 1953, the company acquired around 1,800 hectares of land on the Mississippi, which also included the Selma Hall and Kennett's Castle, built in 1858 , and on which a cement factory was later built. Selma Hall now serves as a guest house for the Union Pacific.
Corporate management
- Christy Payne, President 1929–1933
- FH Lerch jr. 1933-1943
- Ben C. Comfort 1944-1948
- William G. Marbury, President 1949-1971, Chairman of the board 1956-1971
- Robert H. Craft, Chairman 1971–1973
- Downing B. Jenks, President 1971–1974, Chairman 1974–1983
- Thomas H. O'Leary, President 1974–1982
Web links
Individual evidence
- ^ Utility corporations 1936, pp. 238f, 257f
- ^ Utility corporations 1936, p. 544
- ↑ Chicago Tribune August 25, 1962: Fuel firm makes bid to buy Mopac
- ↑ Mississippi River Fuel Corporation, William G. Marbury, Glenn W. Clark, DB Jenks, Sam B. Cook, James Lee Johnson, CD Peet, John C. Bolinger, Jr., James M. Kemper, Jr., and Missouri Pacific Railroad Company, Appellants, v. Rose Slayton, Joseph M. Proskauer, Walter Mendelson, Alfred L. Rose and Dorothy B. Rose: Alleghany Corporation, and Empire Trust Company, a Corporation, As Voting Trustee, and Betty Levin, Appellees, 359 F.2d 106 (8th Cir . 1966)
- ^ A b Railroad conglomerates & other corporate structures: a report to Congress as directed by section 903 of the Railroad revitalization and regulatory reform act of 1976. S. D2
- ^ SEC News Digest April 19, 1974
- ↑ http://www.dupontcastle.com/castles/kennetts.htm