Wikipedia:WikiProject Trains/ICC valuations/Pierre and Fort Pierre Bridge Railway

Interstate Commerce Commission, Valuation Reports, Volume 137

Pierre and Fort Pierre Bridge Railway Company

Location and General Description of Property

The property of the Pierre and Fort Pierre Bridge Railway Company, herein called the Pierre and Fort Pierre Bridge, consists of a standard-gauge, steam railroad, including a bridge across the Missouri River, extending from Pierre to Fort Pierre, S. Dak., 1.818 miles. Of the mileage stated, 0.407 mile is double-tracked. The company also owns 0.275 mile of yard tracks and sidings. Its road thus embraces 2.500 miles of all tracks owned.

Introductory

The Pierre and Fort Pierre Bridge is a corporation of the State of South Dakota, having its corporate and local office at Pierre, S. Dak., and its general administrative office at Chicago, Ill. It is controlled by the North Western, through ownership of the entire outstanding capital stock. On the other hand, the records reviewed do not indicate that this company controls any common-carrier corporation. The property of the Pierre and Fort Pierre Bridge has been operated by its own organization from the date it was put in operation to date of valuation.

Corporate History

The Pierre and Fort Pierre Bridge was incorporated September 22, 1905, under the general laws of the State of South Dakota, for the purpose of constructing and operating a railroad from the western terminus of the tracks of the North Western at Pierre, S. Dak., in a westerly direction across the Missouri River to the eastern terminus of the tracks of the Pierre, Rapid City and North-Western at Fort Pierre, S. Dak. Congress, by act of May 17, 1886, granted to the Dakota Central Railway Company the right to build a bridge over the Missouri River at Pierre, S. Dak. The North Western, successor to the Dakota Central, assigned the right to the Pierre and Fort Pierre Bridge on November 6, 1905. The date of organization of this company was October 10, 1905.

Development of Fixed Physical Property

The entire property of the Pierre and Fort Pierre Bridge was constructed for it by the North Western during the period February, 1906, to October 12, 1907.

Leased Railway Property

The Pierre and Fort Pierre Bridge uses on date of valuation facilities owned by other companies and other companies use facilities owned by the Pierre and Fort Pierre Bridge to the extent indicated in the statement below. The description of the property, the period and terms of use, and the rentals accrued and charged or credited to income for the year ending on the date of valuation are as follows:

	Rentals
Solely owned, but jointly used, used with—
North Western, track, 0.98 mile of terminals in Pierre, S. Dak., for an indefinite period from Mar. 17, 1908, subject to 90 days' notice; annual payment equal to 5 per cent of 30 per cent of valuation of $25,020, plus 30 per cent of the cost of maintenance, taxes, etc.	$375.24
Pierre, Rapid City and North-Western, tracks, 1.818 miles, from Pierre to Fort Pierre, S. Dak., for an indefinite period from Mar. 17, 1908, subject to 90 days' notice; annual payment based on passengers and property handled, plus 5 cents per train-mile for the operation of nonrevenue trains.	......
Jointly used, but not owned, owned by—
North Western, tracks, 9.9 miles, passenger station and engine terminals in Pierre, S. Dak., for an indefinite period from Mar. 17, 1908, subject to 90 days' notice; annual payment; for tracks, 5 per cent on 5 per cent of valuation of $510,169, plus 5 per cent of the cost of operation; for the passenger station, 5 per cent of the cost of operation; for the engine terminals, a proportion, on an engine basis, of maintenance, operation, and taxes.	1,359.24
Pierre, Rapid City and North-Western, track, 0.64 mile, and passenger and other terminal facilities in Fort Pierre, S. Dak., for an indefinite period from Mar. 17, 1908, subject to 90 days' notice; annual payment; for tracks, 5 per cent of 50 per cent on valuation of $59,500, plus 50 per cent of the cost of maintenance, operation, and taxes; for the passenger station and other terminal facilities, one-half of the cost of maintenance, operation, and taxes.	1,487.52