Wikipedia:WikiProject Trains/ICC valuations/Massena Terminal Railroad

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The railroad of The Massena Terminal Railroad Company, herein called the carrier, is a single-track, standard-gauge, steam railroad, located in northern New York. The main line extends from Massena Springs to Massena, a distance of 1.980 miles. The company also owns 1.016 miles of yard tracks and sidings. Its road thus embraces 2.996 miles of all tracks owned and used.

The carrier is controlled by the St. Lawrence Securities Company, which in turn is controlled by the Aluminum Company of America.

CORPORATE HISTORY

The carrier was incorporated May 1, 1900, under the general laws of the State of New York, for the purpose of acquiring, maintaining, and operating a railroad from Massena Springs to a point at or near the power house of the St. Lawrence River Power Company, all within St. Lawrence County, N. Y.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the carrier, extending from Massena Springs to the power plant of the St. Lawrence River Power Company, at Massena, N. Y., a distance of 1.980 miles, was acquired May 9, 1900, by purchase from Matthew T. Johnson. The property acquired by purchase was constructed immediately prior to above date by noncarrier interests. The carrier subsequently in 1907 constructed a 440-foot steel drawbridge over the power canal.

HISTORY OF CORPORATE FINANCING