Wikipedia:WikiProject Trains/ICC valuations/Dunleith and Dubuque Bridge Company

Interstate Commerce Commission, Valuation Reports, Volume 46

Dunleith and Dubuque Bridge Company

Location and General Description of Property

The railroad of the Dunleith and Dubuque Bridge, is a single-track, standard-gage, steam railroad, located in Illinois and Iowa, extending westwardly from East Dubuque, Ill., across the Mississippi River on a bridge to Dubuque, Iowa, 1.304 miles. The railroad connects the railroad owned by the Illinois Central with that of the Dubuque and Sioux City, the latter being leased to the Illinois Central, thus constituting a link in the main line operated by the Illinois Central toward the west. The railroad of the Dunleith and Dubuque Bridge is operated by its own forces, but the Illinois Central and other railroads have trackage rights thereon. The company owns yard and sidetracks as shown in appendix 1.

Introductory

Dunleith and Dubuque Bridge is a corporation of the State of Iowa, having its principal office in Dubuque, Iowa.

It controls no other companies. The property of the Dunleith and Dubuque Bridge has been operated by its own organization during its entire life.

Corporate History

Dunleith and Dubuque Bridge was formed as a consolidation of the Dunleith and Dubuque Bridge Company, an Iowa corporation of the same name, and The Dunleith and Dubuque Bridge Company, an Illinois corporation, by articles of consolidation, dated July 6, 1867, filed in the State of Iowa, September 23, 1868. Dunleith and Dubuque Bridge Company, the predecessor company mentioned above, was incorporated under the general laws of Iowa, June 3, 1867, and in Illinois under special act of Illinois, February 14, 1857.

Development of Fixed Physical Property

The bridge and west approach were constructed by nonaffiliated contractors 1868 and opened for operation January 1, 1869. The bridge was rebuilt in the period 1896 to 1898.

Leased Railway Property

On November 13, 1867, the Illinois Central leased the property of the Dunleith and Dubuque Bridge in perpetuity. As compensation the Illinois Central pays 25 cents per passenger transported over the bridge and a maximum of $150,000 per year for freight tonnage. Payments by the Illinois Central were to be made as follows: To the trustees of the mortgage, construction bonds of the Dunleith and Dubuque Bridge, sufficient to pay the semiannual interest as it accrued on all bonds outstanding; also sufficient to provide a sinking fund of $20,000 annually, for redemption of the bonds, any surplus remaining to be paid to the Dunleith and Dubuque Bridge.

By an indenture dated January 25, 1888, the Chicago, St. Paul & Kansas City Railway Company, now the Chicago Great Western Railroad Company, was given the right to use the bridge and facilities in consideration of an annual rental of $30,000 and a wheelage proportion of operating expenses, taxes, additions, and betterments, etc. An agreement, dated May 16, 1888, between the Dunleith and Dubuque Bridge and the Illinois Central provided that all sums collected from the Chicago, St. Paul & Kansas City Railway Company by the Dunleith and Dubuque Bridge should be turned over to the Illinois Central for its own use.

By an indenture of February 25, 1889, the Chicago, Burlington & Northern Railroad Company, now a part of the Chicago, Burlington & Quincy Railroad Company, was permitted the use of the bridge and facilities in consideration of an annual rental of $18,000 and a wheelage proportion of all expenses, taxes, etc. An agreement similar to that above mentioned, dated February 26, 1889, provided that all receipts from the Chicago, Burlington & Northern Railroad Company should be turned over to the Illinois Central for its own use.

The Dunleith and Dubuque Bridge uses under oral agreement a parcel of land at Dubuque, Iowa, owned by the Dubuque and Sioux City. No rental is paid or accrued.

Predecessor Companies

Dunleith and Dubuque Bridge Company (of 1867)

No accounting records of this company were obtained. The company was incorporated June 3, 1867, under the general incorporation law of the State of Iowa, for the purpose of constructing, maintaining, and operating a railroad from a point in Dubuque, Iowa, to Dunleith, Ill., including a railroad bridge across the Mississippi River. By consolidation agreement dated July 6, 1867, this company and The Dunleith and Dubuque Bridge Company, an Illinois corporation, were consolidated to form a second Dunleith and Dubuque Bridge Company. So far as ascertainable, no construction work was done by this company.

The Dunleith and Dubuque Bridge Company

No accounting records of this company were obtained. The company was incorporated February 14, 1857, by special act of the Legislature of the State of Illinois for the purpose of constructing and maintaining a bridge over the Mississippi River from a point at or near Dunleith, Ill. By consolidation agreement dated July 6, 1867, this company and the Dunleith and Dubuque Bridge Company, an Iowa corporation, were consolidated to form a second Dunleith and Dubuque Bridge Company. So far as ascertainable, no construction work was done by this company.