Wikipedia:WikiProject Trains/ICC valuations/Railway Transfer Company of the City of Minneapolis

Interstate Commerce Commission, Valuation Reports, Volume 133

Railway Transfer Company of the City of Minneapolis

Location and General Description of Property

The Railway Transfer Company of the City of Minneapolis, herein called the carrier, owns no physical property. It operates under lease 11.828 miles of yard tracks and sidings and other facilities located between First Street North and Twentieth Avenue South in the city of Minneapolis, Minn., owned by the Minneapolis & St. Louis. It also has trackage rights over 1.58 miles of main line, of which 1.53 miles is double-tracked, of the Minneapolis & St. Louis between First Street North and Twentieth Avenue South in the city of Minneapolis. This trackage affords access to the leased yard tracks and sidings in the same vicinity. The carrier is controlled by the Minneapolis & St. Louis, and its principal business is switching between the industries in the milling district and the connecting railroads.

Introductory

The carrier is a corporation of the State of Minnesota, having its principal office at Minneapolis, Minn. There are no available accounting records for the period from the date of its organization to January 1, 1884. For that reason only partial information can be given from the accounts in connection with its corporate operations.

The carrier is controlled by the Minneapolis & St. Louis through ownership of the entire capital stock, except directors' qualifying shares. On the other hand, the records do not indicate that the carrier controls any common-carrier corporation.

The property used by the carrier has been operated by its own organization during its entire life. It is owned by the Minneapolis & St. Louis.

Corporate History

The carrier was incorporated March 31, 1883, under the general laws of the State of Minnesota, for the purpose of acquiring, constructing, leasing, and operating a system of railway transfer tracks between the various lines of railway and various industries within the corporate limits of the city of Minneapolis, Minn. The date of organization was also March 31, 1883.

Development of Fixed Physical Property

The carrier owns no physical property. All the property it uses in its operations is owned by the Minneapolis & St. Louis.

Leased Railway Property

The carrier uses on date of valuation property owned by the Minneapolis & St. Louis to the extent indicated in the statement below:

	Rentals
Solely used:
Yard tracks, 11.828 miles, and facilities including engine house, coal shed, station and yard buildings, between First Street North and Twentieth Avenue South in Minneapolis, Minn.; term 10 years from Nov. 2, 1904, and thereafter until canceled by 6 months' notice; stipulated payment of $60,000 per annum and 5 per cent on cost of additions and betterments; lessee pays all taxes and maintenance.	$64,313.88
Steam locomotives, 5 for use in above-described yard at Minneapolis, Minn.; term 10 years from Nov. 2, 1904, and there after until canceled by 6 months' notice; stipulated payment of $100 per month for use of each engine; lessee maintains the locomotives.	5,631.31
Jointly used, tracks, 1.58 miles (of which 1.53 miles is double main track), from First Street North to Twentieth Avenue South in Minneapolis, Minn.; term 10 years from Nov. 2, 1904, and thereafter until canceled by six months' notice; stipulated rental of $1 per car on certain cars switched; maintenance on wheelage basis.	7,161.50