The Calvert, Waco and Brazos Valley Railroad Company was chartered on June 28, 1899. The line was initially projected to extend from the International-Great Northern Railroad at Lewis Switch to Waco. Members of the first board of directors were George J. Gould of Lakewood, New Jersey; Frank J. Gould of Irvington, New York; Leroy Trice, Nathan A. Steadman, George L. Noble, Alfred R. Howard, and William L. Maury, all from Anderson County, Texas; and Leonidas H. Parish and John T. Garrett, both from Robertson County, Texas. The initial capital was $75,000, and the business office was in Calvert in Robertson County. By the end of 1900 the company had completed sixty-six miles between Bryan and Marlin and a branch from Calvert Junction to Calvert. In that year the charter was amended twice, ultimately raising capitalization to $2,830,000 and changing the projected route to run from Spring, just north of Houston, to Fort Worth. On February 12, 1901, the legislature authorized the International and Great Northern to acquire the Calvert, Waco and Brazos Valley. The two lines merged on May 1. The International and Great Northern completed the line between Spring and Fort Worth in 1902.
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