Wikipedia:WikiProject Trains/ICC valuations/Black Hills and Fort Pierre Railroad

Interstate Commerce Commission, Valuation Reports, Volume 134

Location and General Description of Property
The railroad of Black Hills and Fort Pierre Railroad Company, hereinafter called the Black Hills and Fort Pierre, which is operated by the Burlington through stock ownership, is a single-track railroad situated entirely within the State of South Dakota, extending from Lead to Calcite, with a branch line from Este to Merritt. This property consists of 6.180 miles of three-rail track and 47.618 miles of narrow-gauge track.

Introductory
The Black Hills and Fort Pierre is a corporation of the State of South Dakota, having its principal office at Lead City, S. Dak. While the present name of this company is that given above, it was originally incorporated as The Black Hills Railroad Company, which was later changed to the Black Hills and Fort Pierre Railroad Company. The accounting records of this company were not obtained for the period from date of its incorporation to July 1, 1901, when control passed to the Burlington. Further, the records reviewed do not indicate that this company, itself, has maintained accounting records since July 1, 1901. Therefore, the information given in this report pertaining to the financial dealings and investments of the Black Hills and Fort Pierre has been taken from its corporate records and from the records of the Burlington. The Black Hills and Fort Pierre is controlled by the Burlington through ownership of the entire outstanding capital stock. On the other hand, the records reviewed do not indicate that this company, itself, controls any common-carrier corporation. The property of this company was operated by its own organization from the dates of completion to July 1, 1901. From that date to date of valuation it has been operated by the Burlington as lessee, but without written lease or agreement.

Corporate History
The Black Hills and Fort Pierre was incorporated June 15, 1881, under the general laws of the Territory of Dakota, under the name The Black Hills Railroad Company. The name was changed to that first given above, on July 10, 1882. The date of its organization was August 31, 1881.

Development of Fixed Physical Property
The entire railroad owned by the Black Hills and Fort Pierre, amounting to 53.798 miles, was acquired by construction. The records reviewed do not indicate by whom the construction work was performed prior to July, 1901. Since that date the construction work has been performed by the Burlington. The years in which the various portions of the road were constructed are shown in the following table:

Leased Railway Property
The entire property of the Black Hills and Fort Pierre has been operated since July 1, 1901, by the Burlington, by virtue of its control through ownership of the capital stock, but without written lease or operating agreement. The records reviewed do not indicate that any rental has been accrued or paid by the Burlington for its use of the property.