Wikipedia:WikiProject Trains/ICC valuations/Lansing Transit Railway

Interstate Commerce Commission, Valuation Reports, Volume 28

Lansing Transit Railway

Location and General Description of Property

The railroad of the Lansing Transit Railway Company, herein called the Lansing Transit Railway, likewise leased to and operated by the Michigan Central, serving various industries in the city of Lansing, Mich., and aggregating 0.771 mile of road.

Introductory

The Lansing Transit Railway is a corporation of the State of Michigan, having its principal office at New York, N.Y. No accounting records of the Lansing Transit Railway were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated hereinafter were obtained from the records of the Michigan Central and from other sources. The Lansing Transit Railway is controlled jointly by the Michigan Central and The New York Central Railroad Company through ownership of its capital stock. On the other hand, the records reviewed do not indicate that this company controls any common-carrier corporation, while the Lansing Transit Railway is controlled as indicated, its property was operated, under lease, by the Michigan Central from the date it was placed in operation until December 31, 1917. On January 1, 1918, all the property of the Lansing Transit Railway, under contract with the Michigan Central, was taken over for operation by the United States Railroad Administration, which operates it on date of valuation.

Corporate History

The Lansing Transit Railway was incorporated September 1, 1886, under the general laws of the State of Michigan, for the purpose of constructing a railroad in the city of Lansing, Mich. The date of organization of the Lansing Transit Railway has not been ascertainable from the records reviewed.

Development of Fixed Physical Property

The owned mileage of the Lansing Transit Railway, all within the city of Lansing, Mich., 0.771 mile, was constructed by the Michigan Central for the Lansing Transit Railway in 1888.

Leased Railway Property

The entire property of the Lansing Transit Railway is leased to the Michigan Central for a term of 99 years from September 15, 1887. The terms of the lease are given in the chapter on leased railway property in the report on the Michigan Central.