Wikipedia:WikiProject Trains/ICC valuations/Duluth, Rainy Lake and Winnipeg Railway

Interstate Commerce Commission, Valuation Reports, Volume 141

Duluth, Rainy Lake & Winnipeg Railway

Location and General Description of Property

The railroad of the Duluth, Rainy Lake & Winnipeg Railway Company, herein called the Duluth, Rainy Lake & Winnipeg, which is leased to and operated by the carrier, is a single-track line located in Minnesota and extending from a point about 4 miles north of Virginia to the International boundary line between the United States and the Dominion of Canada, near Ranier, a distance of 87.748 miles.

Introductory

The Duluth, Rainy Lake & Winnipeg is a corporation of the State of Minnesota, having its principal office at Toronto, Canada. The available accounting records of the company are incomplete, as no entries were recorded in them subsequently to June 30, 1913. Therefore, only partial information can be given from its accounts regarding financial dealings, corporate operations, or investments. It is controlled by the carrier [Duluth, Winnipeg & Pacific Railway], through ownership of the entire outstanding capital stock. On the other hand the records do not indicate that this company, itself, controls any common-carrier corporation. The property of the company was operated by its own organization from the date it was put in operation, January 1, 1908, to June 30, 1912. From July 1, 1912, to date of valuation it has been operated by the carrier under agreement.

Corporate History

The Duluth, Rainy Lake & Winnipeg was originally incorporated as the Duluth, Virginia and Rainy Lake Railway Company in the State of Minnesota on July 31, 1901. The name was changed on December 18, 1905, to Duluth, Rainy Lake & Winnipeg Railway Company, the present designation. It was incorporated for the purpose of constructing and operating a railroad from Virginia, Minn., to the northern boundary line of Minnesota. The date of its organization has not been ascertainable from the records reviewed.

Development of Fixed Physical Property

The owned mileage of the Duluth, Rainy Lake & Winnipeg, 87.748 miles, was constructed for it by the Minnesota Land and Construction Company, an affiliated corporation. The years when the two portions of the line were constructed are indicated in the following statement. The entire line was opened for operation on January 1, 1908.

	Recorded mileage
Four miles north of Virginia to Cook, Minn., 1901 to 1903.	28
Cook to Ranier, Minn., 1906 to 1908.	66
	94
Difference between total recorded mileage and mileage inventoried as of date of valuation.	6.252
Mileage inventoried as of date of valuation.	87.748

Leased Railway Property

The entire property of the Duluth, Rainy Lake & Winnipeg is leased to the carrier for an indefinite period under agreement dated January 1, 1913. The terms of the agreement and the rentals accrued for the year ending on date of valuation are given in the chapter on leased railway property in the report on the carrier.