Wikipedia:WikiProject Trains/ICC valuations/Canadian Northern Railway

Interstate Commerce Commission, Valuation Reports, Volume 141

Location and General Description of Property
The Canadian Northern Railway Company, hereinafter called the carrier, is a corporation of the Dominion of Canada. It owns no railroad property within the United States, but operates under lease certain railroad property located in northern Minnesota and owned by two controlled lessor companies, which are included in this report. The property so operated in Minnesota consists of a single-track, standard-gauge, steam railroad, extending from the international boundary line between Baudette, Minn., and the Province of Ontario, through the State of Minnesota, to the international boundary line between Longworth, Minn., and the Province of Manitoba, 43.782 miles. It connects at each terminus with tracks in Canada also operated by the carrier, and thus forms a link in the Canadian National Railway system's transcontinental route. The property leased from the two lessor companies is described as follows:

The railroad of The Minnesota and Manitoba Railroad Company herein called the Minnesota and Manitoba, is located entirely within the State of Minnesota and extends from Baudette northwesterly to the international boundary line at Longworth, Minn., 43.68 miles. The entire common-carrier property of this company is leased to and operated by the carrier, except one unit of work equipment which is leased to another carrier.

The property of The Minnesota and Ontario Bridge Company, herein called the Minnesota and Ontario, consists of a railroad bridge over the Rainy River, located in the State of Minnesota and the Province of Ontario. The bridge extends from a connection with the Minnesota and Manitoba's tracks at Baudette, Minn., to a connection with the carrier's tracks on the Canadian side of the river, a distance of 0.204 mile. The entire common-carrier property of this company is leased to and operated by the carrier, but only that portion of the railroad bridge which is located in the United States, 0.102 mile, is included in the reproduction and value figures shown in this report.

The carrier operates in the United States 43.782 miles of main track and 13.674 miles of yard tracks and sidings, aggregating 57.456 miles of all tracks used but not owned. This mileage is further classified in the trackage table in Appendix 1.

The Carrier
The carrier is a corporation of the Dominion of Canada. It does not own any property within the United States. On June 30, 1919, it operated as lessee, in connection with its railroad property in the Dominion of Canada, the property of two domestic corporations located in the United States, both of which it controls through ownership of the entire outstanding capital stock of each corporation, as follows: The carrier used on June 30, 1919, the date of valuation, property owned by other companies to the extent indicated in the statement below. The description of the property and the period and terms of use are as follows:

Solely used but not owned, leased from—
 * Minnesota and Manitoba, entire property, except one unit of work equipment leased to the Duluth, Winnipeg and Pacific Railway Company; term 99 years from October 1, 1901; stipulated payment $26,460 per annum.
 * Minnesota and Ontario, entire property; term 99 years from 1901; stipulated payment to equal interest on first-mortgage bonds of lessor.