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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
 FORM 10-K Annual Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934 For the fiscal year ended: December 26, 2003
    
    Commission file number: 0-25567
 CSX Trade Receivables Corporation on behalf of the
CSXT Trade Receivables Master Trust
(Issuer in respect of the CSXT Trade Receivables Master Trust
6.00% Trade Receivables Participation Certificates, Series 1998-1)   Delaware
    
    59-3168541(State or other jurisdiction of
incorporation or organization)
    
    (I.R.S. Employer
Identification No.)Route 688
P. O. Box 87
Doswell, Virginia
    
    23047(Address of principal executive offices)
    
    (Zip Code)
 Registrants telephone number, including area code: (804) 876-3220 Securities registered pursuant to Section 12(b) of the Act:
None Securities registered pursuant to Section 12(g) of the Act:
CSXT Trade Receivables Master Trust 6.00% Trade Receivables
Participation Certificates, Series 1998-1 Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes  x  No  o Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrants knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to
this Form 10-K. Yes  x  No  o Indicate by check mark whether the registrant is an accelerated filer (as
defined in Exchange Act Rule 12b-2).
Yes  o  
No  x State the aggregate market value of the voting stock held by non-affiliates of
the Registrant. Not Applicable.




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TABLE OF CONTENTS  Item 1. Business.Item 2. Properties.Item 3. Legal Proceedings.Item 4. Submission of Matters to a Vote of Security Holders.Item 5. Market for Registrants Common Equity and Related Stockholder Matters.Item 6. Selected Financial Data.Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operation.Item 8. Financial Statements and Supplementary Data.Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.Item 10. Directors, Executive Officers, Promoters and Control Persons of the Registrant.Item 11. Executive Compensation.Item 12. Security Ownership of Certain Beneficial Owners and Management.Item 13. Certain Relationships and Related Transactions.Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.POWER OF ATTORNEYANNUAL CERTIFICATE OF SERVICERREPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS    Table of Contents  CSX Trade Receivables Corporation on behalf of the
CSXT Trade Receivables Master Trust
Form 10-K, Part I 
 Item 1. Business. Omitted pursuant to a no-action letter dated February 4, 1994 (the
No-Action Letter), issued by the Securities and Exchange Commission staff
with respect to certain of the Registrants reporting requirements pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934. 
 Item 2. Properties. Pursuant to the No-Action Letter, reference is made to the Annual
Certificates of Servicer referred to in Items 8 and 14 hereof. 
 Item 3. Legal Proceedings. None. 
 Item 4. Submission of Matters to a Vote of Security Holders. None. -2-




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CSX Trade Receivables Corporation on behalf of the
CSXT Trade Receivables Master Trust
Form 10-K, Part II 
 Item 5. Market for Registrants Common Equity and Related Stockholder Matters.  (a)
    
    The CSX Trade Receivables Master Trust 6.00% Trade
Receivables Participation Certificates, Series 1998-1 (the
Certificates) were paid in full in June 2003. The Certificates
are no longer outstanding. While they were outstanding, there was
no established public trading market for the Certificates.  (b)
    
    Not applicable.  (c)
    
    Omitted pursuant to the No-Action Letter. 
 Item 6. Selected Financial Data. Omitted pursuant to the No-Action Letter. 
 Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operation. Omitted pursuant to the No-Action Letter. 
 Item 8. Financial Statements and Supplementary Data. CSXT,
as servicer (in such capacity, the Servicer) has
delivered to JP Morgan Chase Bank (fka The Chase Manhattan Bank), as
trustee (in such capacity, the Trustee) the
Annual Certificate of Servicer to the Trustee with respect to the
year ended December 26, 2003,
a copy of which is attached hereto as Exhibit 99.1. The Annual
Servicers Certificate was
provided pursuant to Section 3.06 of the Amended and Restated Pooling and
Servicing Agreement dated as of October 27, 1993, as such Agreement has been
amended and supplemented (the Agreement). Pursuant to Section 3.07 of the Agreement, Ernst & Young LLP has furnished
a report on managements assertion regarding the compliance of the Servicer
with certain terms and conditions in the Agreement and on the comparison of
mathematical calculations of amounts set forth in the Certificateholders
Distribution Date Statements with the Servicers computer records, with respect
to the Certificates. A copy of the report is attached hereto as Exhibit 99.2. 
 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. None. -3-




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CSX Trade Receivables Corporation on behalf of the
CSXT Trade Receivables Master Trust
Form 10-K, Part III 
 Item 10. Directors, Executive Officers, Promoters and Control Persons of the Registrant. Omitted pursuant to the No-Action Letter. 
 Item 11. Executive Compensation. Omitted pursuant to the No-Action Letter. 
 Item 12. Security Ownership of Certain Beneficial Owners and Management.  (a)
    
    Not applicable.  (b)
    
    Omitted pursuant to the No-Action Letter.  (c)
    
    Omitted pursuant to the No-Action Letter. -4-




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CSX Trade Receivables Corporation on behalf of the
CSXT Trade Receivables Master Trust
Form 10-K, Part III 
 Item 13. Certain Relationships and Related Transactions. There have not been, and there are not currently proposed, any
transactions or series of transactions, to which either the Registrant, CSXT,
as Servicer, or the Trustee, on behalf of the Trust, is a party with any
Certificateholder who owns of record or beneficially more than five percent of
the Certificates. Information regarding servicing compensation received by
CSXT is set forth in the monthly Certificateholders Distribution Date
Statements filed on Form 8-K, as referenced under Item 14 hereof. -5-




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CSX Trade Receivables Corporation on behalf of the
CSXT Trade Receivables Master Trust
Form 10-K, Part IV 
 Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K. (a) Exhibits. 24.1*
    
    Powers of Attorney of Messrs. Baggs, Boor,
Goolsby, and Grandis as Directors and/or Officers of CSX
Trade Receivables Corporation.99.1*
    
    Annual Certificate of Servicer with
respect to the CSXT Trade Receivables Master Trust 6.00%
Trade Receivables Participation Certificates, Series
1998-1, prepared by CSXT pursuant to Section 3.06 of the
Agreement.99.2*
    
    Report of Independent Certified Public
Accountants with respect to the CSXT Trade Receivables
Master Trust 6.00% Trade Receivables Participation
Certificates, Series 1998-1, prepared by Ernst & Young LLP
pursuant to Section 3.07 of the Agreement.
 (b) Reports on Form 8-K. Date of Form 8-K
    
    Description of Form 8-KJanuary 27, 2003
    
    Submitted a copy of Certificateholders Distribution Date
Statement dated January 27, 2003 for the CSXT Trade
Receivables Master Trust 6.00% Trade Receivables
Participation Certificates, Series 1998-1.February 25, 2003
    
    Submitted a copy of Certificateholders Distribution Date
Statement dated February 25, 2003 for the CSXT Trade
Receivables Master Trust 6.00% Trade Receivables
Participation Certificates, Series 1998-1.March 25, 2003
    
    Submitted a copy of Certificateholders Distribution Date
Statement dated March 25, 2003 for the CSXT Trade
Receivables Master Trust 6.00% Trade Receivables
Participation Certificates, Series 1998-1.April 25, 2003
    
    Submitted a copy of Certificateholders Distribution Date
Statement dated April 25, 2003 for the CSXT Trade
Receivables Master Trust 6.00% Trade Receivables
Participation Certificates, Series 1998-1.
 -6-




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CSX Trade Receivables Corporation on behalf of the
CSXT Trade Receivables Master Trust
Form 10-K, Part IV Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K, Continued (b) Reports on Form 8-K, Continued Date of Form 8-K
    
    Description of Form 8-KMay 27, 2003
    
    Submitted a copy of Certificateholders Distribution Date
Statement dated May 27, 2003 for the CSXT Trade
Receivables Master Trust 6.00% Trade Receivables
Participation Certificates, Series 1998-1.June 25, 2003
    
    Submitted a copy of Certificateholders Distribution Date
Statement dated June 25, 2003 for the CSXT Trade
Receivables Master Trust 6.00% Trade Receivables
Participation Certificates, Series 1998-1.
 (c) Omitted pursuant to the No-Action Letter. (d) Omitted pursuant to the No-Action Letter.  *
    
    Filed Herewith -7-




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CSX Trade Receivables Corporation on behalf of the
CSXT Trade Receivables Master Trust
Form 10-K SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized. CSXT TRADE RECEIVABLES MASTER TRUSTBy:
    CSX TRADE RECEIVABLES CORPORATION/s/  DAVID H. BAGGS
David H. Baggs
President, Treasurer
(Principal Executive Officer) Date: March 25, 2004 Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
Registrant and in the capacities and on the dates indicated. Signatures
    
    Title/s/ David H. Baggs*
David H. Baggs
    
    President, Treasurer, and Director
(Principal Executive Officer)/s/ David A. Boor*
David A. Boor
    
    Chairman of the Board, and Director/s/ Allen C. Goolsby, III*
Allen C. Goolsby, III
    
    Director/s/ Leslie A. Grandis*
Leslie A. Grandis
    
    Director*/s/  Gordon F. Bailey
Gordon F. Bailey, Attorney-In-Fact
March 25, 2004
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Certification I, David H. Baggs, certify that:  1.
    
    I have reviewed this annual report on Form 10-K, and all reports on Form
8-K containing distribution or servicing reports filed in respect of
periods included in the year covered by this annual report, of CSX Trade
Receivables Corporation;  2.
    
    Based on my knowledge, the information in these reports, taken as a
whole, does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements made, in light of
the circumstances under which such statements were made, not misleading as
of the last day of the period covered by this annual report;  3.
    
    Based on my knowledge, the distribution or servicing information required
to be provided to the trustee by the servicer under the pooling and
servicing, or similar, agreement, for inclusion in these reports is
included in these reports;  4.
    
    Based on my knowledge and upon the annual compliance statement included
in the report and required to be delivered to the trustee in accordance
with the terms of the pooling and servicing, or similar, agreement, and
except as disclosed in the reports, the servicer has fulfilled its
obligations under the servicing agreement; and  5.
    
    The reports disclose all significant deficiencies relating to the
servicers compliance with the minimum servicing standards based upon the
report provided by an independent public accountant, after conducting a
review as set forth in the pooling and servicing, or similar, agreement,
that is included in these reports. In giving the certifications above, I have reasonably relied on information
provided to me by the following parties: CSX Transportation Inc., as servicer,
and JP Morgan Chase Bank, formerly The Chase Manhattan Bank, as Trustee /s/ DAVID H. BAGGSDavid H. BaggsPresident, Treasurer
(Principal Executive and Financial Officer) March 25, 2004 -9-




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EXHIBIT INDEX Exhibit 24.1
    
    Powers of Attorney of Messrs. Baggs, Boor, Goolsby, and Grandis as
Directors and/or Officers of CSX Trade Receivables Corporation.99.1
    
    Annual Certificate of Servicer with respect to the CSXT Trade
Receivables Master Trust 6.00% Trade Receivables Participation
Certificates, Series 1998-1, prepared by CSXT pursuant to Section 3.06 of
the Agreement.99.2
    
    Report of Independent Certified Public Accountants with respect to the
CSXT Trade Receivables Master Trust 6.00% Trade Receivables Participation
Certificates, Series 1998-1, prepared by Ernst & Young LLP pursuant to
Section 3.07 of the Agreement.
 -10-