RED RIVER & ROCKY MOUNT RAILWAY. The mill of the Antrim Lumber Company is adjacent to the right of way of the St. Louis Southwestern Railway, known as the Cotton Belt, at Antrim, La., and has been in operation for about 16 years. During practically all of that period it has brought in its logs over a tram road which was incorporated in May, 1904, as the Red River & Rocky Mount Railway Company, but which had been receiving divisions out of the through rate prior to that date. The tap line consists of 12 miles of standard gauge track extending west-ward from the mill to the timber and about three-fourths of a mile of track crossing the Cotton Belt and running to the eastward; all of the track is laid with light 35-pound steel, and title to the right of way is in the name of the tap line. The lumber company has a short unincorporated logging spur which is operated for it by the tap line. The equipment of the tap line consists of 3 locomotives and 30 logging cars. There are 3 train crews. The entire tonnage of the road consists of logs handled for the lumber company from the timber to the mill, at a charge of 40 cents per ton, which apparently is not refunded, although the rates published by the Cotton Belt and participated in by the tap line are apparently on a milling-in-transit basis. In addition to this charge on the logs the tap line receives from the Cotton Belt an allowance out of the published rate of from 1 cent to 2-1/2 cents per 100 pounds. The lumber, however, is loaded by the lumber company into cars furnished and placed at the mill by the Cotton 'Belt, which also takes the loaded cars away. In other words, the tap line performs no service in connection with the movement of the finished lumber.

The capital stock of the tap line amounts to $64,000, which was issued to the stockholders of the lumber company as a dividend. We find of record an admission that when, the timber is cut away the rails may be taken up and the tap line abandoned. On the other hand it is contended that the development of the Caddo oil fields may furnish new traffic for the tap line.