Wikipedia:WikiProject Trains/ICC valuations/Brownsville and Matamoros Bridge Company

Interstate Commerce Commission, Valuation Reports, Volume 29

Brownsville & Matamoros Bridge Company

Location and General Description of Property

The Brownsville & Matamoros Bridge Company owns and operates a bridge over the Rio Grande River, with track extending from Brownsville, Tex., to Matamoros, Tamaulias, Mex., a distance of 1.240 miles. The railroad is single-track, standard-gage, and operated by steam. The bridge is used for foot and vehicular as well as railroad traffic and, therefore, a portion of it is classified herein as devoted to noncarrier purposes. The reproduction costs and values contained herein represent only that portion of the railroad and bridge, 0.776 mile in length, and other property, situated within the United States. It is not possible to state separately the results of operations, financing, investment, original cost, etc., with respect to the property within the United States.

Introductory

The Brownsville & Matamoros Bridge Company is a corporation of the State of Arizona, having its principal office at Phoenix, Ariz. It is controlled by the St. Louis, Brownsville & Mexico and the National Railways of Mexico jointly through equal ownership of its entire outstanding capital stock.

On the other hand, it controls the Brownsville Ferry Company, Limited, through ownership of 95.31 per cent of that company's capital stock. The Brownsville Ferry Company, Limited, is a New York corporation owning a ferry franchise across the Rio Grande River between Brownsville, Tex., and Matamoros, Mexico, together with various parcels of land.

This report deals with the Brownsville & Matamoros Bridge Company's finances, operations, original cost, and other activities as a whole, as no separation of the accounts with respect to the property in the United States could be made.

Corporate History

The Brownsville & Matamoros Bridge Company was incorporated August 25, 1909, for a period of 25 years, under the general laws of the then Territory of Arizona. The purpose for which it was incorporated was to construct, equip, maintain, and operate a bridge with approaches thereto, over the Rio Grande at the town of Brownsville, Cameron County, Tex., to a point on the opposite side of the Rio Grande in Mexico, for the passage of railway trains, street railways, wagons and vehicles of all kinds, and for the transit of animals and foot passengers. The articles of incorporation were amended by the filing of a certificate dated September 11, 1912, providing for increase in capital stock and maximum indebtedness.

Development of Fixed Physical Property

The owned mileage of this company, consisting of 1.24 miles extending from Brownsville, Tex., to Matamoros, Mexico, was all acquired by construction during the period from April, 1909, to January 1, 1911. Of this mileage 0.776 mile is situated in the United States. That mileage extends from Brownsville to the center of the draw span of the bridge, which point is designated as the international boundary.

In the construction of the bridge the Foundation Company of New York and the Wisconsin Bridge & Iron Company were employed as contractors, and the remainder of the work was done under the supervision of the forces of the Brownsville & Matamoros Bridge Company. The contractors were not affiliated with the Brownsville & Matamoros Bridge Company or its officials.

Leased Railway Property

The passenger traffic over the Brownsville & Matamoros Bridge Company's road is performed by the gasoline motor car which it owns. Freight is hauled by a locomotive of the St. Louis, Brownsville & Mexico. No particular locomotive is regularly assigned to the Brownsville & Matamoros Bridge Company and there is no lease covering its use. It is paid for on a per diem basis.