Wikipedia:WikiProject Trains/ICC valuations/Chicago, Milwaukee and St. Paul Railway

Interstate Commerce Commission, Valuation Reports, Volume 44

Location and General Description of Property
The railroad operated by the Chicago, Milwaukee and St.Paul Railway Company, herein called the St. Paul, is located in Illinois, Wisconsin, Michigan, Missouri, Kansas, Iowa, Minnesota, South Dakota, North Dakota, Montana, Idaho, and Washington. The operated mileage forms a transcontinental route from Chicago, Ill., to North Pacific Coast points, and from Chicago, Ill., to Omaha, Nebr. The entire property is standard gage with the exception of the branch line from Bellevue to Avery, Idaho, which is narrow gage. That portion of the road extending from Harlowton, Mont., to Avery, Idaho, a distance of about 440 miles, is operated exclusively by electricity, while the remainder is steam operated. With the exception of 1,071.723 miles of other main tracks located mostly on the main lines between Chicago, Ill., and Aberdeen, S. Dak., and between Chicago, Ill., and Council Bluffs, Iowa, the operated railroad is single track.

The principal cities served by this road are Chicago, Elgin, Rockford, and Rock Island, Ill.; Green Bay, LaCrosse, Madison, Milwaukee, and Oshkosh, Wis.; Menominee, Mich. ; Kansas City, Mo.; Omaha, Nebr.; Council Bluffs, Davenport, Des Moines, and Sioux City, Iowa; Minneapolis, St. Paul, and Winona, Minn.; Aberdeen, S. Dak.; Fargo, N. Dak.; Butte, Great Falls, and Missoula, Mont.; Coeur d'Alene, Idaho, and Everett, Seattle, Spokane, and Tacoma, Wash.

The wholly owned railroad consists of a principal main line extending in a general northwesterly direction from Chicago, Ill., via Milwaukee, Wis., St. Paul and Minneapolis, Minn., Aberdeen, S. Dak., and Butte, Mont., to Manito, Wash., near Spokane, Wash., and from Marengo, Wash., to Maple Valley, Wash., near Seattle and Tacoma, Wash., aggregating about 2,085 miles. Another main line of secondary importance extends from Chicago, Ill., via Savanna, Ill., and Marion, Iowa, to Council Bluffs, Iowa, a distance of about 484 miles. There are other main lines and numerous branches throughout the territory traversed, the most important projecting from Savanna to East Moline, Ill., and from Muscatine, Iowa, to Kansas City, Mo., Kittredge, Ill., to Racine, Wis., Rondout, Ill., to Janesville, Wis., North Milwaukee to Portage, Wis., Milwaukee, Wis., to Champion, Mich., Horicon to Winneconne, Wis., Tomah to Star Lake, Wis., Wabasha, Minn., to Chippewa Falls, Wis., Brookfield, Wis., via Mason City, Iowa, to Rapid City, S. Dak., Milton Junction to Shullsburg, Wis., Channing to Ontonagon, Mich., Marion to Rutledge, Iowa, Davenport and Jackson Junction, Iowa, Calmar, Iowa, to Mendota, Minn., Des Moines to Spirit Lake, Iowa, Manilla, Iowa, to Aberdeen, S. Dak., Ortonville, Minn., to Fargo, N. Dak., Farmington to Benning and Mankato to Wells, Minn., Midland Junction to Faribault, Minn., Green Island, Iowa, to LaCrescent, Minn., Bridge Switch, near LaCrescent, Minn., to Wessington Springs, S. Dak., Moreau Junction to Isabel and Faith, S. Dak., McLaughlin, S. Dak., to New England, N. Dak., Roscoe, S. Dak., to Linton, N. Dak., and Orient, S. Dak., Aberdeen, S. Dak., to Edgeley, N. Dak., Bristol to Renner, S. Dak., Napa to Platte, S. Dak., Harlowton to Lewistown, Winnett, Winifred, and Great Falls, Mont., St. Maries to Purdue and from Bovill to Elk River, Idaho, McGuires, Idaho, to Metaline Falls, Wash., Walden to Marcellus, Wash., and from Cedar Falls to Everett, Wash.

The road jointly owned and used includes property between Black River Junction and Tacoma Junction, Wash., which comprises a part of the main line to Tacoma, Wash. It also includes additional branch lines between Hibert Junction and Neenah, Wis., St. Paul and Mendota, Minn., and Helsing Junction and Hoquiam, Wash., and tracks at various cities.

The road wholly owned but not used by the St. Paul consists of 4.961 miles of single-track railroad between Ringling and Dorsey, Mont., which is leased to the White Sulphur Springs & Yellowstone Park Railway Company, and 7.164 miles of single-track railroad between Hopkins and Deephaven, Minn., which is leased to the Minneapolis & St. Paul Suburban Railway Company, an electric line.

The St. Paul wholly owns and uses 9,875.734 miles of road with 1,039.611 miles of second, 17.474 miles of third, 14.015 miles of fourth and 0.623 mile of fifth main tracks. It also jointly owns and uses 109.972 miles of road and wholly owns but does not use 12.125 miles of road.

In addition to the foregoing, the St. Paul has exclusive use of miscellaneous items of property owned by other companies consisting principally of yard tracks and sidings, buildings and lands. It also has trackage rights over about 391 miles of the road of other carriers, part of which affords access to Seattle and Spokane, Wash., while other portions provide connecting links in separated lines. Further details with respect to these joint facilities are given under leased railway property in appendix 2.

The St. Paul wholly owns and uses 14,245.210 miles of all tracks, jointly owns and uses 351.013 miles of all tracks, wholly owns but does not use 14.538 miles of all tracks, wholly uses but does not own 0.368 mile of all tracks and jointly uses but does not own 0.415 mile of all tracks. These tracks, consisting of first, second, third, fourth, and fifth main tracks and yard tracks and sidings, are classified by States in the trackage table in appendix 1. The St. Paul's portion of jointly owned tracks, based on percentage of ownership or use, is likewise shown in the trackage table.

Introductory
The St. Paul is a corporation of Wisconsin, having its corporate and local office at Milwaukee, Wis., and its general administrative office at Chicago, Ill. While the St. Paul was incorporated originally as the Milwaukee and St. Paul Railway Company, this name was later changed to the present one.

The records reviewed do not indicate that the St. Paul is controlled by any individual or corporation on date of valuation. On the other hand, it controls, through stock ownership, the following named common-carrier companies whose properties were separately operated on December 31, 1917: Bellingham and Northern Railway Company, Continental Telegraph Company, Gallatin Valley Railway Company, Milwaukee Terminal Railway Company, Puget Sound & Willapa Harbor Railway Company, Seattle, Port Angeles & Western Railway Company, and Tacoma Eastern Railroad Company.

It controls jointly with other companies and an individual, through ownership of capital stock to the extent indicated, the following named companies: Butte, Anaconda & Pacific Railway Company 49 percent, Chicago Union Station Company 25 percent, Davenport, Rock Island and North Western Railway Company 50 percent; Des Moines Union Railway Company 50 percent; Indiana Harbor Belt Railroad Company 20 percent; Kansas City Terminal Railway Company 8⅓ percent, The Minnesota Transfer Railway Company 11 1/9 percent; Minneapolis Eastern Railway Company 50 percent; The Saint Paul Union Depot Company 11 1/9 percent; and the White Sulphur Springs & Yellowstone Park Railway Company 51 percent. The Butte, Anaconda & Pacific Railway Company and the White Sulphur Springs & Yellowstone Park Railway Company are controlled, respectively, with the Anaconda Copper Mining Company and John Ringling. The remainder of the companies are controlled with other common-carriers. With exception of the Chicago Union Station Company, which provided passenger facilities for controlling companies, and the Davenport, Rock Island and North Western Railway Company, which was jointly operated by its own organization, the Chicago, Burlington & Quincy Railroad Company and the St. Paul, the above-named companies were operated by their own organizations on December 31, 1917.

The property of the St. Paul, with exception of the portions Ringling to Dorsey, Mont., 4.961 miles, and Hopkins to Deephaven, Minn., 7.164 miles, was operated by its own organization from the date of incorporation to December 31, 1917. Since January 1, 1918, its common-carrier property, except the sections noted above, has been operated by the United States Railroad Administration. The excepted sections are operated by the White Sulphur Springs & Yellowstone Park Railway Company and the Minneapolis and St. Paul Suburban Railway Company, respectively.

Corporate History
The St. Paul was incorporated May 5, 1863, under the general laws of Wisconsin, as the Milwaukee and St. Paul Railway Company. By resolution of the stockholders on February 7, 1874, a certificate was filed with the secretary of state of Wisconsin on February 11, 1874, changing the name to Chicago, Milwaukee and St. Paul Railway Company.

It was incorporated for the purpose of acquiring the road extending from Portage to La Crosse, Wis., known as the Western Division of the La Crosse and Milwaukee Rail Road Company, which was sold under foreclosure on April 26, 1863, to William W. Pratt and William H. White, trustees. By deed dated May 5, 1863, the trustees conveyed the property to the St. Paul.

The St. Paul subsequently acquired the property, rights, and franchises of 67 other railroad corporations. The St. Paul, itself, and those corporations, together with their predecessors, total 155 different corporations, of which 22 underwent a change of name, and comprise the line of corporate succession culminating in the St. Paul as at present constituted.

The names of the corporations, the respective dates of incorporation, and for each predecessor the date and manner of succession follow.

Development of Fixed Physical Property
The recorded mileage wholly owned by the St. Paul amounts to 9,938.730 miles, of which 3,176.410 miles were acquired by construction and 6,762.320 miles by purchase. The inventoried mileage is 9,856.680 miles. Of the 154 predecessor corporations, 16 did not construct or improve any property, and 12 only improved property completed by others. The 6,762.32 miles of road constructed by the remaining 126 predecessors were acquired by purchase from 68 corporations, as follows: The Milwaukee and Western Railroad Company, 75.08 miles; Milwaukee and Horicon Rail Road Company, 42.00 miles; Ripon and Wolf River Railroad Company, 9.56 miles, St. Croix & Superior Railroad Company, surveys only; LaCrosse and Milwaukee Rail Road Company (of 1856), 202.89 miles: McGregor Western Railway Company, 133.36 miles; Minnesota Central Railway Company, 11.34 miles; Milwaukee and Prairie du Chien Railway Company, 238.30 miles; McGregor and Missouri River Railway Company, 125.60 miles; Mason City and Minnesota Railway Company, 27.95 miles; The Saint Paul and Chicago Railway Company, 128.12 miles; Hastings and Dakota Railway Company, 202.20 miles; The Sabula, Ackley & Dakota Rail Road Company, 87.00 miles; The Wisconsin Union Railroad Company, 37.59 miles; Necedah and Camp Douglas Rail Road Company, 13.02 miles; The Davenport and North Western Railway Company, 160.63 miles; The Southern Minnesota Railway Company, 343.28 miles; Chicago and Superior Railroad Company, 33.01 miles; The Mineral Point Railroad, 49.43 miles; Wisconsin Valley Railroad Company, 107.27 miles; Chicago, Clinton, Dubuque and Minnesota Rail Road Company, 324.34 miles; Pine River Valley & Stevens Point Rail Road Company, 16.22 miles; Viroqua Railway Company, 32.17 miles; Eastern, La Fayette and Mississippi Railway Company, right of way; Dubuque South Western Rail Road Company, 57.20 miles; Sioux City and Dakota Rail Road Company, 131.90 miles; The Stillwater and Hastings Railway Company, 2.00 miles; Janesville, Beloit and Rockford Railway Company, 13.86 miles; The Iowa Eastern Railroad Company, 14.49 miles; Chippewa Valley and Superior Railway Company, 68.97 miles; Minnesota Midland Railway Company, 60.21 miles; Fond du Lac, Amboy & Peoria Railway Company, 28.52 miles; Fox Lake Railroad Company, 2.70 miles; Fargo and Southern Railway Company, 116.97 miles; The Mazomanie, Sauk City and Prairie du Sac Rail Road Company, 10.37 miles; Dakota and Great Southern Railway Company, 158.66 miles; The Cedar Rapids & St. Louis Railroad Company, grading; Lisbon, Necedah & Lake Superior Railway Company, 22.16 miles; Milwaukee, Dexterville and Northern Railway Company, 22.45 miles; Wisconsin, Pittsville and Superior Railway Company, 18.39 miles; The Wood County Railroad Company, 5.50 miles: The Oshkosh and Mississippi River Railroad Company, 19.08 miles; The Milwaukee and Northern Railroad Company (of 1887), 419.83 miles; Prairie du Chien and McGregor Railway Company, 1.28 miles; Chicago, Milwaukee and St. Paul Railway Company (of Illinois), 48.40 miles; The Wisconsin Midland Railroad Company, 2.30 miles; Chicago and Pacific Railroad Company, 88.47 miles; The Chicago, Evanston and Lake Superior Railway Company, 15.51 miles; Des Moines, Northern and Western Railroad Company, 146.95 miles; Central Illinois and Wisconsin Railway Company, 15.16 miles; The Western Union Railroad Company (of 1876), 212.50 miles; The Milwaukee and Superior Railway Company, 20.08 miles: Cook, Lake and McHenry Counties Railway Company, 29.33 miles; Janesville & Southeastern Railway Company, 34.57 miles; Maquoketa, Hurstville & Dubuque Rail Road Company, 2.23 miles; The La Crosse and Onalaska Short Line Rail Road Company, 3.76 miles; Markesan & Brandon Railway Company, 11.49 miles; Ashdale & Thomson Railway Company, 15.10 miles; Wisconsin Western Railroad, 51.97 miles; White River Valley Railway Company, 219.25 miles; Duluth, St. Cloud, Glencoe & Mankato Railway Company, 39.46 miles; Chicago, Milwaukee and Puget Sound Railway Company, 2,053.10 miles; Oglesby & Granville Railway Company, 10.50 miles; Rochelle & Southern Railway Company, 39.75 miles; Great Falls Terminal Railway Company, 3.45 miles; Idaho & Washington Northern Railroad, 111.74 miles; Big Blackfoot Railway Company, 11.47 miles; and the Marinette, Tomahawk and Western Railway Company, 19.25 miles. The foregoing aggregate 6,780.66 miles, which was reduced 18.34 miles, or to 6,762.32 miles, by abandonments by the St. Paul after acquisition.

Details with respect to the construction of the property are given In the accounting report.

In addition to the above, the St. Paul jointly owns with other common carriers 109.972 miles of road, as follows: Details of acquisition and construction were not ascertained.

Owned jointly with The Pittsburgh, Cincinnati, Chicago and St. Louis Railroad Company, at Chicago, Ill., Canal Street to a point near Western Avenue, 2.411 miles; Pittsburgh, Fort Wayne and Chicago Railway Company, at Chicago, Ill., West Madison Street to Kinzie Street, 0.527 mile; Chicago and North Western Railway Company, at Chicago, Ill., Western Avenue, 0.092 mile, at Champion, Mich., 1.153 miles, and at Crystal Falls and Mastodan, Mich., 5.677 miles; Wisconsin Central Railway Company, Hilbert to Neenah, Wis., 15.756 miles, at Oshkosh, Wis., 0.286 mile, and at Chippewa Falls, Wis., 1.120 miles; The Chicago, Rock Island and Pacific Railway Company, at Clinton, Iowa, 0.611 mile, and at Davenport, Iowa, 1.893 miles; Chicago, Saint Paul, Minneapolis and Omaha Railway Company; at St. Paul, Minn., 2.703 miles, and St. Paul to Mendota, Minn., 2.500 miles; Wisconsin, Minnesota and Pacific Railroad Company (Chicago Great Western Railway Company, lessee), at Mankato, Minn., 1.146 miles; Northern Pacific Railway Company, at Linton, Minn., 1.101 miles; and Oregon-Washington Railroad & Navigation Company, at Spokane, Wash., 0.566 mile, Black River Junction to Tacoma Junction, Wash., 26.348 miles; Helsing Junction to Hoquiam, Wash., 44.484 miles, and South Montesano to Montesano, Wash., 1.598 miles.

Leased Railway Property
The property of the St. Paul, together with the properties of others that it used, was taken over for operation by the United States Railroad Administration on January 1, 1918, and is so operated on date of valuation.

The arrangements of the St. Paul with other carriers, in effect December 31, 1917, covering the use of joint facilities have been continued by the United States Railroad Administration during the period January 1, 1918, to date of valuation.

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 December 31, 1917, are as follows: In addition to the joint facilities enumerated above, the St. Paul uses and owns jointly certain wires and poles with the Western Union Telegraph Company. Also, there are other facilities of minor importance, such as stations, interlockers, yard tracks and sidings, in which the St. Paul grants or receives joint use, that are not listed in this chapter.

The Milwaukee and Western Railroad — Formerly Named Milwaukee, Watertown and Baraboo Valley Railroad, Originally Named Madison, Fond Du Lac and Michigan Railroad (of 1856)
This company was originally incorporated as the Madison, Fond du Lac and Michigan Railroad Company (of 1856) in Wisconsin, through articles of consolidation dated August 7, 1856. The name was changed on May 13, 1858, to Milwaukee, Watertown and Baraboo Valley Railroad Company, and was again changed on March 16, 1861, to The Milwaukee and Western Railroad Company.

The records reviewed do not indicate whether the company was controlled by any individual or corporation on June 8, 1863, the date of sale, nor whether it controlled any common-carrier corporation. Although the property was conveyed to a successor company by deed dated June 8, 1863, the accounts of the company for the results of corporate operations were closed December 31, 1862. The accounting data in this report, with respect to corporate operations, therefore, cover the period to December 31, 1862. The property of this company was operated by its own organization from December 1, 1857, to November 1, 1860, and from the latter date to date of sale by Rogers, Couter and Company under lease.

The railroad owned amounted to 75.08 miles, and consisted of a single-track, standard-gage, steam railroad extending, from Watertown to Sun Prairie, Wis., 24.48 miles, and from Brookfield to Columbus, Wis., 50.60 miles, of which it had acquired 50.60 miles from the LaCrosse and Milwaukee Rail Road Company (of 1856) and 24.48 from Russell Sage, who had previously acquired it from the Watertown and Madison Railroad Company.

Madison, Fond du Lac, and Michigan Railroad (of 1855)
This company was incorporated March 13, 1855, under general laws of Wisconsin. No accounting records of the company were obtained. The information, given below, was obtained from minute books and the report of the St. Paul on its corporate history. The records reviewed do not indicate whether the company was controlled by any individual or corporation on August 7, 1856, the date of consolidation, nor, whether it then controlled any common-carrier corporation. This company did not construct or otherwise acquire any railroad property.

Beaver Dam and Baraboo Railroad
This company was incorporated March 31, 1855, under the general laws of Wisconsin. No accounting records of the company were obtained. The information stated below was obtained from the minute book and the records of the St. Paul. The records reviewed do not indicate that this company was controlled by any individual or corporation on August 7, 1856, the date of consolidation, nor, whether it then controlled any common-carrier corporation. The company did not construct any railroad.

Watertown and Madison Railroad
This company was incorporated March 17, 1853, in Wisconsin. The records reviewed do not indicate that the company was controlled by any individual or corporation on October 1, 1858, the date of sale under foreclosure, nor, that it then controlled any common-carrier corporation. The property was operated by and for the benefit of the contractors, who were creditors of the company, from the date construction was completed in 1857 to date of sale.

Although the property was sold at foreclosure sale on October 1, 1858, and conveyed to Russell Sage, as purchaser, on October 6, 1858, the books do not contain any entries subsequent to April 30, 1858.

The railroad owned, 24.48 miles, consisted of a single-track, standard-gage steam railroad from Watertown to Sun Prairie, Wis., which had been acquired by construction. Further details concerning construction of this property are given in the accounting report on the St. Paul.

Milwaukee and Horicon Rail Road
This company was incorporated April 17, 1852, in Wisconsin. No accounting records of the company were obtained, but certain data indicated below were obtained from the records of the St. Paul.

The records reviewed do not indicate whether the company was controlled by any individual or corporation on June 13, 1863, the date of foreclosure sale, nor whether it then controlled any common-carrier corporation. The property of this company was operated by its own organization from the date of completion to about the year 1861, when the property was operated by a receiver until date of sale.

The railroad owned on date of sale, about 42 miles, consisted of a single-track, standard-gage, steam railroad, extending from Horicon to Berlin, Wis., which had been acquired by construction during the period 1855 to 1857.

Ripon and Wolf River Railroad
This company was incorporated March 31, 1856, in Wisconsin. No accounting records of the company were obtained, but certain data indicated below were obtained from the records of the St. Paul.

The records reviewed indicate that the company was controlled on October 30, 1863, the date of foreclosure sale, by Price Brothers and Company through ownership of a majority of the outstanding capital stock. The records reviewed do not indicate that this company then controlled any common-carrier corporation. The property of this company was operated by its own organization from the date of completion in 1860 to date of sale. The railroad owned by the company of 9.56 miles, consisted of a single-track, standard-gage, steam railroad, extending from Rush Lake Junction to Omro, Wis., which had been acquired by construction in 1860.

====La Crosse and Milwaukee Rail Road (of 1856); La Crosse and Milwaukee Railroad (of 1854) — Predecessor of the La Crosse and Milwaukee Rail Road (of 1856); La Crosse and Milwaukee Rail Road (of 1852) — Predecessor of the La Crosse and Milwaukee Railroad (of 1854)==== The La Crosse and Milwaukee Rail Road Company (of 1856) was incorporated October 13, 1856, in Wisconsin through ratification of articles of consolidation dated September 20, 1856.

The La Crosse and Milwaukee Railroad Company (of 1854) was incorporated March 9, 1854, in Wisconsin through ratification of articles of consolidation dated January 23, 1854.

The La Crosse and Milwaukee Rail Road Company (of 1852) was incorporated April 2, 1852, in Wisconsin.

Not all of the accounting records of these three companies were obtained. Those available are continuous for the three companies without distinction and cover the period from 1853 to June 10, 1860. For the purpose of this report the three companies are treated as one, and are referred to herein as the La Crosse and Milwaukee Rail Road Company (of 1856).

The records reviewed do not indicate that the company was controlled by any individual or corporation on April 26, 1863, and March 2, 1867, the dates of foreclosure sales of the western and eastern divisions, respectively. This company did not then control any common-carrier corporation.

The property of this company was operated by its own organization from July 1854 to September 30, 1857; the line from Brookfield to Columbus, Wis., was operated by D. C. Freeman, under lease, from September 30 to December 24, 1857, when it was sold. The remainder of the property was operated by Selah Chamberlain under lease from September 30, 1857, to June 12, 1860; by receiver from June 12, 1860, to January 4, 1866, and by the Milwaukee & Minnesota Railroad Company (a company which forfeited its charter to the State of Wisconsin) from January 4, 1866, to date of sale.

The railroad owned on date of sale, 98.56 miles, consisted of a single-track, standard-gage, steam railroad, extending from Milwaukee to Portage, Wis. Further details are given in the accounting report on the St. Paul.

Milwaukee and Watertown Railroad
This company was incorporated March 11, 1851, in Wisconsin. No accounting records of the company were obtained, but certain data indicated below were obtained from the records of the St. Paul.

The records reviewed do not indicate that this company was controlled by any individual or corporation on October 13, 1856, the date of consolidation, nor, that it then controlled any common-carrier corporation. The property of this company was operated by its own organization from 1856 to the date of consolidation. The railroad owned on date of consolidation amounted to 31.80 miles and consisted of a single-track, standard-gage, steam railroad, extending from Brookfield to Watertown, Wis., all of which was acquired by construction during 1855. The St. Paul, upon acquisition of the property assumed $310,000 par value of first-mortgage 8 percent bonds issued by the Milwaukee and Watertown Railroad. The considerations received for these bonds when issued were not ascertainable. The La Crosse and Milwaukee Rail Road Company (of 1856) did not record the assumption of these bonds.

St. Croix & Superior Rail Road
This company was incorporated in 1853, in Wisconsin. No accounting records of the company were obtained, but certain data indicated below were obtained from the records of the La Crosse and Milwaukee Rail Road Company (of 1856) and the St. Paul.

The records reviewed do not indicate that the company was controlled by any individual or corporation in January 1857 when it disposed of its rights and franchises, nor, whether it controlled any common-carrier corporation. The records reviewed indicate that it did not own any completed railroad on the date of sale, but that some surveys had been made. No outlay by this company for the surveys can be stated.

Milwaukee, Fond du Lac and Green Bay Railroad (of June 1853) — Predecessor of the La Crosse and Milwaukee Railroad (of 1854)
This company was incorporated June 27, 1853, in Wisconsin. The records reviewed do not indicate that the company was controlled on March 9, 1854, the date of consolidation, by any individual or corporation, nor that it controlled any common-carrier corporation. The company did not operate any railroad during its existence. The property of the company on date of consolidation consisted of depot grounds in Milwaukee, Wis., and some grading between Milwaukee and Richfield, Wis., on a proposed line from Milwaukee to Fond du Lac and Oshkosh, Wis., which had been acquired by construction during 1853.

Milwaukee, Fond du Lac and Green Bay Railroad (of April 1853)
This company was incorporated April 2, 1853, in Wisconsin. No accounting records of the company were obtained. Certain information stated below was obtained from the report of the St. Paul upon its corporate history. It was not ascertained from the records reviewed whether the company was controlled by any individual or corporation on June 27, 1853, the date of consolidation, nor that it then controlled any common-carrier corporation. This company was granted a charter by the Legislature of Wisconsin to construct a railroad from Milwaukee, via Fond du Lac, to Green Bay, Wis. The company did not own any railroad on date of consolidation.

Milwaukee and Fond du Lac Railroad — Predecessor of the Milwaukee, Fond du Lac and Green Bay Railroad (of June 1853)
This company was incorporated February 21, 1851, in Wisconsin. No accounting records of the company were obtained. Certain information stated below was obtained from the report of the St. Paul upon its corporate history. It was not ascertained from the records reviewed whether the company was controlled by any individual or corporation on June 27, 1853, the date of consolidation, nor, that it then controlled any common-carrier corporation. This company was granted a charter by the Legislature of Wisconsin to construct a railroad from Milwaukee to Fond du Lac. The company did not own any railroad on date of consolidation.

McGregor Western Railway
This company was incorporated February 12, 1863, in Wisconsin, and February 24, 1866, in Minnesota. No accounting records of the company were obtained. Certain data indicated below were obtained from its minute book and from the records of the St. Paul.

The company was controlled on August 5, 1867, the date of sale, by the Milwaukee and Prairie du Chien Railway Company through ownership of a majority of its capital stock. The records reviewed do not indicate that this company controlled any common-carrier corporation. The property was operated under lease agreement dated April 1, 1865, by the Milwaukee and Prairie du Chien Railway Company to the date of sale.

The railroad owned, 133.36 miles, consisted of two main lines of single track, standard-gage, steam railroad, one of 62.30 miles from McGregor to Cresco, Iowa; acquired by construction; another of 71.06 miles from Owatonna to Minneapolis, Minn. It also owned a one half interest jointly with the Minnesota Valley Railroad Company in 5.20 miles extending from Mendota to St. Paul, Minn., including a one half interest in the bridge across the Mississippi River at St. Paul. The 71.06 miles of road between Owatonna and Minneapolis, Minn., and the one half interest in the 5.20 miles of line into St. Paul, including the bridge across the Mississippi River, were acquired by purchase from the Minnesota Central Railway Company on June 22, 1867.

Milwaukee and Prairie du Chien Railway
This company was incorporated January 18, 1861, in Wisconsin. Although the property of the company was conveyed to its successor by deed dated December 31, 1867, the accounts of the company for the results of corporate operations continued to July 31, 1868, and other accounts were not closed until that date. The accounting data in this report, therefore, cover the period to July 31, 1868.

The company was controlled on December 31, 1867, the date of sale, by the St. Paul through ownership of a majority of its capital stock. The records reviewed do not indicate that the company controlled any common-carrier corporation. The property was operated by its own organization from the date it was acquired, January 21, 1861, until the date it was surrendered to the St. Paul.

The railroad owned consisted of approximately 238.30 miles of single-track, standard-gage, steam railroad, in Wisconsin. Its main line of 196.20 miles extended from Milwaukee, via Milton, to Prairie du Chien, and a branch line of 42.10 miles extended from Milton Junction to Monroe, all of which had been acquired through the foreclosure and reorganization of the Milwaukee and Mississippi Rail Road Company.

This company operated under lease from April 1, 1865, to September 30, 1867, the railroad of the McGregor Western Railway Company, and also operated, from August 31, 1866, to June 22, 1867, the portion of the railroad of the Minnesota Central Railway Company extending from Owatonna, Minn., to St. Paul and Minneapolis, Minn.

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Milwaukee and Mississippi Rail Road (of 1853); Milwaukee and Mississippi Rail Road (of 1850) — Predecessor of Milwaukee and Mississippi Rail Road (of 1853) — Formerly Named Milwaukee and Waukesha Rail Road===== The Milwaukee and Mississippi Rail Road Company (of 1853) was incorporated in Wisconsin through articles of consolidation, dated May 18, 1853, filed May 24, 1853. The Milwaukee & Mississippi Rail Road Company (of 1850) was originally incorporated as the Milwaukee and Waukesha Rail Road Company in Wisconsin on February 11, 1847. The name was changed on February 1, 1850. All of the accounting data of the Milwaukee and Mississippi Rail Road Company (of 1853) were recorded without separation, in the books of its predecessor, the Milwaukee & Mississippi Rail Road Company (of 1850), which were continued. The two companies are, therefore, treated as one in this report, and for convenience, hereinafter, are referred to as the Milwaukee and Mississippi Rail Road Company.

The records do not indicate whether the Milwaukee and Mississippi Rail Road Company was controlled by any individual or corporation on January 21, 1861, the date of sale, nor, whether it then controlled any common-carrier corporation. The property was operated by its own organization from the date the first section of its road was completed, February 25, 1851, to May 9, 1860. From the latter date until the date of sale it was operated by a receiver. This company operated under lease from January 1853 to February 13, 1856, the railroad owned by the Southern Wisconsin Rail Road Company, extending from Milton Junction to Janesville, Wis., 8.10 miles.

The railroad owned, 238.30 miles of single-track, standard-gage, steam railroad, in Wisconsin, consisted of 196.20 miles of main line extending from Milwaukee via Milton to Prairie du Chien, and a branch line of 42.10 miles, extending from Milton Junction to Monroe, of which 8.10 miles had been acquired from the Southern Wisconsin Rail Road Company and 230.20 miles by construction. Further details are given in the accounting report on the St. Paul.

Madison and Prairie du Chien Rail Road
This company was incorporated March 24, 1852, in Wisconsin. No accounting records of this company were obtained. Certain information given below has been obtained from its minute book. The company did not own any completed railroad on May 24, 1853, the date of consolidation.

Southern Wisconsin Rail Road
This company was incorporated April 7, 1852, in Wisconsin. No accounting records of the company were obtained. Certain data indicated below were obtained from its minute book.

The company owned on February 13, 1856, the date of sale, 8.10 miles of railroad, extending from Milton Junction to Janesville, Wis., which was operated under lease by the Milwaukee and Mississippi Rail Road Company (of 1853). This property had been acquired by construction, completed January 1853 under a contract with Walter P. Flanders, the treasurer of the Milwaukee and Mississippi Rail Road Company (of 1853), acting as trustee for that company. The Southern Wisconsin Rail Road Company had issued a $100,000 bond and mortgage to Walter P. Flanders in payment for the construction of the 8.10 miles of road, funds for which had been provided by the Milwaukee and Mississippi Rail Road Company (of 1853).

The company had also entered into a contract for the construction of about 95 miles of road from Janesville to Monroe, Wis., and construction work had been commenced. Before completion, however, this portion of the road was sold to the Milwaukee and Mississippi Rail Road Company (of 1853).

McGregor and Missouri River Railway — Formerly Named McGregor and Sioux City Railway
This company was originally incorporated as the McGregor and Sioux City Railway Company in Iowa on January 23, 1868. The name was changed on November 1, 1869. The records reviewed do not indicate that the company was controlled by any individual or corporation on February 4, 1880, the date of sale, nor, that it then controlled any common-carrier corporation. The company owned no completed railroad on date of sale. It had owned 125.60 miles of single-track, standard-gage, steam railroad, extending from Calmar to Algona, Iowa, which had been acquired by construction.

The property of this company was not placed in operation prior to date of sale. The section of road, Calmar to Nora Springs, Iowa, 64 miles, was conveyed to the St. Paul on May 1, 1869, and the section Nora Springs to Algona, Iowa, 61.60 miles, was conveyed to the St. Paul on February 1, 1870. On February 4, 1880, the remaining railroad property and franchises were conveyed to the St. Paul. The exact date on which its land-grant lands were conveyed to the St. Paul was not ascertained from the records. Further details with respect to the construction of this property are given in the accounting report on the St. Paul.

Minnesota Central Railway, Originally Named Minneapolis, Faribault and Cedar Valley Railroad
This company was originally incorporated as the Minneapolis, Faribault and Cedar Valley Railroad Company in Minnesota on March 10, 1862. The name was changed on February 1, 1864. Not all of the accounting records were obtained. The records reviewed do not indicate that this company was controlled by any individual or corporation on February 15, 1870, the date it sold the remainder of its railroad and other common-carrier property, except land grants, nor, that it then controlled any common-carrier corporation. After the sale of its railroad property, the company continued its corporate existence until 1880.

The property owned by the company consisted of approximately 11.34 miles of single-track, standard-gage, steam railroad, extending from Austin, Minn., to the Iowa-Minnesota State line, which had not been placed in operation prior to its sale to the St. Paul. This was the remainder of 82.40 miles of road constructed by the company between 1864 and 1870, of which 71.06 miles had been sold to the McGregor Western Railway Company in 1867. This company also jointly constructed 5.20 miles of road with the Minnesota Valley Railroad Company, extending from Mendota to St. Paul, Minn., including a bridge across the Mississippi River, which was operated by its own organization from November 1865 to August 31, 1866, and by the Milwaukee and Prairie du Chien Railway Company, as lessee, from the latter date to June 22, 1867, when the interest of this company was sold to the McGregor Western Railway Company. Further details are given in the accounting report on the St. Paul.

Minneapolis and Cedar Valley Railroad
This company was incorporated March 1, 1856, in Minnesota. No accounting records of the company were obtained. Certain data indicated below were obtained from the records of the St. Paul. The records reviewed do not indicate whether the company was controlled by any individual or corporation on August 16, 1860, the date the property was sold at foreclosure sale, nor, whether it then controlled any common-carrier corporation. At the date of sale this company did not own any completed railroad. Grading and certain construction work was stated in the files to have cost $600,000, when the company defaulted in the payment of interest on its bonds held by the State of Minnesota resulting in a foreclosure sale to J. G. Forbes and William R. Marshall, trustees for the State of Minnesota. On March 10, 1862, the property was conveyed to the Minneapolis, Faribault and Cedar Valley Railroad Company by the State of Minnesota. The company issued $600,000 par value first-mortgage 7 percent bonds, dated September 1, 1858, and maturing September 1, 1883, in exchange for an equal amount of railroad State bonds of the State of Minnesota. No outlay by this company for construction can be stated.

Mason City and Minnesota Railway
This company was incorporated July 18, 1870, in the State of Iowa. No accounting records of the company were obtained. Certain data given below were obtained from the records of the St. Paul. The records reviewed do not indicate whether the company was controlled by any individual or corporation on January 9, 1871, the date of sale, nor, whether it then controlled any common-carrier corporation. It was not indicated by the records reviewed that this company ever operated its property. The railroad owned 27.95 miles, consisting of a single-track, standard-gage, steam railroad extending from Mason City, Iowa, to the Iowa-Minnesota State line, which had been acquired by construction during 1870. The outlay by this company for construction cannot be stated.

The Saint Paul and Chicago Railway, Formerly Named The Saint Paul and Pacific Railroad
This company was originally incorporated as The Saint Paul and Pacific Railroad Company in Minnesota on March 10, 1862. The name was changed on March 20, 1867. No accounting records of the company were obtained. Certain data given below were obtained from the records of the St. Paul.

The records reviewed did not indicate whether the company was controlled by any individual or corporation on January 3, 1872, the date of sale, nor, whether it then controlled any common-carrier corporation. The property of the company was operated by its own organization from the date of completion of construction to December 31, 1871.

The railroad owned 128.12 miles, consisted of a single-track, standard-gage, steam railroad, extending from St. Paul to Bridge Junction, Minn., which had been acquired by construction, the several sections being completed on various dates between December 1869 and December 1871 including the completion of the partially graded line formerly owned by the Minnesota and Pacific Railroad Company. The outlay for construction cannot be stated.

Minnesota and Pacific Railroad
This company was incorporated May 22, 1857, in Minnesota. No accounting records of the company were obtained. Certain data given below were obtained from the records of the St. Paul. The records reviewed did not indicate whether this company was controlled by any individual or corporation on March 6, 1860, the date of foreclosure sale, nor, whether it then controlled any common-carrier corporation. The company did not own any completed railroad on the date of sale, but some grading had been done on a part of its proposed line.

Hastings and Dakota Railway, Formerly Named Hastings, Minnesota River and Red River of the North Railroad
This company was originally incorporated as the Hastings, Minnesota River and Red River of the North Railroad Company in Minnesota on February 20, 1857. The name was changed on March 5, 1867. No accounting records of the company were obtained. Certain data given below were obtained from the minute book and from the records of the St. Paul.

The records reviewed indicate that the company was controlled by Russell Sage and interests affiliated with the St. Paul on June 29, 1872, when 74.30 miles of completed railroad were conveyed to the St. Paul and on January 1, 1880, the date of sale to the St. Paul of 127.90 miles of road. All land-grant lands owned by the company were excluded in the two conveyances of its common-carrier property. The records reviewed do not indicate that this company controlled any common-carrier corporation.

The property of this company was operated by the St. Paul under lease agreements from completion of construction until date of sale.

The railroad, 202.20 miles, consisted of a single-track, standard-gage, steam railroad, extending from Hastings to Ortonville, Minn., which had been acquired by construction. Further details are given in the accounting report on the St. Paul. The outlay by this company for construction cannot be stated.

The Sabula, Ackley & Dakota Rail Road
This company was incorporated June 25, 1870, in Iowa. No accounting records of this company were obtained. Certain data indicated below were obtained from the records of the St. Paul and the construction records of the Sabula & Marion Railway Construction Company.

The company was controlled on July 2, 1872, the date of sale, by the Sabula & Marion Railway Construction Company, an affiliated company. The property was operated by the Sabula & Marion Railway Construction Company or The Western Union Rail Road Company in the interest of the St. Paul from the date each section of the road was completed to date of sale. The railroad owned, 87 miles, consisted of a single-track, standard-gage, steam railroad extending from Sabula to Marion, Iowa, which had been acquired by construction. The property was constructed by the Sabula & Marion Railway Construction Company under contracts dated June 17 and November 1, 1870, and was not entirely completed on date of sale. Further details are given in the accounting report on the St. Paul.

The Wisconsin Union Railroad
This company was incorporated April 11, 1866, in Wisconsin. No accounting records of the company were obtained. Certain data stated below were obtained from the company's minute book and from records of the St. Paul; also from the records of the Chicago, Milwaukee and St. Paul Railway Company (of Illinois).

The records reviewed indicate that the company was controlled by the St. Paul on December 12, 1872, the date of sale. The records do not indicate that the company controlled any common-carrier corporation.

The property of this company was operated by the St. Paul from date of completion in 1871 to date of sale.

The railroad owned, 37.59 miles, consisted of a single-track, standard-gage, steam railroad, extending from Milwaukee, Wis., to the Illinois-Wisconsin State line.

Necedah and Camp Douglas Rail Road
This company was incorporated October 13, 1874, in Wisconsin. No accounting records of the company were obtained. Certain data stated below were obtained from the records of the St. Paul.

The records reviewed do not indicate that the company was controlled by any individual or corporation on June 25, 1878, the date of sale, nor, that it then controlled any common-carrier corporation. The property owned consisted of right of way and graded roadbed ready for tracklaying between New Lisbon and Necedah, Wis., 13.02 miles. Under the terms of an agreement dated June 8, 1877, between the company and the St. Paul, the former company procured the right of way, graded the roadbed, constructed the bridges, and furnished the ties. The St. Paul laid the ties and furnished and laid the rails. The outlay by this company in the construction of its property cannot be stated. However, the accounting records of the St. Paul record expenditures of $45,013.48 in the construction of the road of this company, which amount was charged by the St. Paul to its own investment in road and equipment account.

The Davenport and North Western Railway
This company was incorporated July 5, 1876, in Iowa. Although the company did not acquire title to its property until December 1, 1876, and conveyed it to the St. Paul on July 1, 1879, it recorded the results from the operations of the property in its books for the period August 1, 1876, to July 31, 1879. The records reviewed do not indicate that the company was controlled by any individual or corporation on July 1, 1879, the date of sale, nor, that it then controlled any common-carrier corporation. The property of this company was operated by its own organization from date of purchase to date of sale.

The railroad owned, 160.63 miles, consisted of a single-track, standard-gage, steam railroad, extending from Davenport to Fayette, Iowa, 128.25 miles, with a branch line from Eldridge to Maquoketa, Iowa, about 32.38 miles, which had been acquired by purchase from the Davenport and St. Paul Rail Road Company. In addition to the operated road, the company owned about 21 miles of graded right of way for an extension beyond Fayette, Iowa.

Davenport and St. Paul Rail Road
This company was incorporated August 26, 1868, in Iowa. No accounting records of the company, except those of its receivers covering the period December 19, 1874, to July 31, 1876, were obtained.

The records reviewed do not indicate that the company was controlled by any individual or corporation on March 23, 1876, the date its property was sold, nor that it then controlled any other common-carrier corporation. The property of the company was operated by its own organization from date of completion of construction in 1871 to December 19, 1874, and from that date to July 31, 1876, by receivers.

The railroad owned, 160.63 miles, consisted of a single-track, standard-gage, steam railroad, located in Iowa. The main line extended from near Davenport to Fayette, 128.25 miles, and a branch line from Eldridge to Maquoketa, 32.38 miles, all of which had been acquired by construction. In addition, the company had graded, ready for tracklaying, an extension of the main line between Fayette and Waucoma, Iowa, about 21 miles. Further details are given in the accounting report on the St. Paul.

The Southern Minnesota Railway
This company was incorporated March 9, 1877, in Minnesota. It was controlled on April 13, 1880, the date of sale, by the St. Paul through ownership of a majority of the outstanding capital stock. It did not then control any common-carrier corporation. The property of this company was operated by its own organization from the date of incorporation until it was turned over to the St. Paul for operation on April 30, 1880, although it was conveyed to the latter company by deed dated April 13, 1880.

The railroad owned, 343.28 miles, consisted of a single-track, standard-gage, steam railroad in Minnesota and South Dakota. Its main line extended from La Crescent, Minn., to Flandreau, S. Dak., 303.28 miles, and its branch line from Wells to Mankato, Minn., 40 miles. In addition, the company owned about 34 miles of graded right of way between Sioux Falls and Egan, S. Dak.

Of the 343.28 miles of railroad owned by the company on date of sale, it had acquired 165.28 miles from the Southern Minnesota Railroad Company (of 1864), 40 miles from the Central Railroad Company of Minnesota (of 1873), and 138 miles from The Southern Minnesota Railway Extension Company. It also acquired about 34 miles of graded right of way from The Southern Minnesota Railway Extension Company.

Southern Minnesota Railroad (of 1864)
This company was incorporated March 4, 1864, in Minnesota. Not all of the accounting records of the company were obtained. Neither were the construction records of the contractor obtained. The company was controlled on February 14, 1877, the date of sale, by Clark W. Thompson through ownership of a majority of its outstanding capital stock. It did not then control any common-carrier corporation. The property of this company was operated by its own organization from the date placed in operation to November 23, 1872. From that date to date of sale it was operated by a receiver.

The railroad owned, 165.28 miles, consisted of a single-track, standard-gage, steam railroad, extending from La Crescent to Winnebago, Minn., which had been acquired by construction. A portion of the road was constructed on a right of way, and partially graded roadbed, acquired from the State of Minnesota. Details are given in the accounting report on the St. Paul.

The company operated under lease about 40 miles of main track from Wells to Mankato, Minn., owned by the Central Railroad Company of Minnesota (of 1873).

Southern Minnesota Railroad (of 1857), Originally Named The Root River Valley and Southern Minnesota Rail Road
This company was originally incorporated as The Root River Valley and Southern Minnesota Rail Road Company in Minnesota on March 2, 1855. The name was changed on May 23, 1857. The records do not indicate that the company was controlled by any individual or corporation on October 16, 1860, the date of sale, nor that it then controlled any common-carrier corporation. The company did not own any completed railroad on date of sale. However, certain grading and other construction work had been done. The company's proposed railroad was to extend from La Crescent, Minn., westward.

Central Railroad of Minnesota (of 1873) - Predecessor of the Southern Minnesota Railway
This company was incorporated May 23, 1857, in Minnesota. The accounting records obtained were incomplete and fragmentary. The records did not indicate whether the company was controlled by any individual or corporation on November 22, 1879, the date of its sale, nor whether it then controlled any common-carrier corporation.

The property owned by the company on the date of sale was operated by its own organization from the date completed, in November 1874 until January 1, 1877. From that date until date of sale, it was operated by the Southern Minnesota Railroad Company (of 1864) and its successor, The Southern Minnesota Railway Company, under lease agreement.

The railroad owned, about 40 miles, consisted of a single-track, standard-gage, steam railroad from Wells to Mankato, Minn., all of which was constructed on the right of way and graded roadbed acquired from the Central Railroad Company of Minnesota (of 1872). The records indicate that the construction work was performed by Olson & Anderson, contractors, who do not appear to have been affiliated with the company. Further details are given in the accounting report on the St. Paul.

Central Railroad of Minnesota (of 1872 ) - Predecessor of the Central Railroad of Minnesota (of 1873), Originally Named Minnesota & North Western Railroad
This company was originally incorporated as the Minnesota & North Western Railroad Company in Minnesota on May 23, 1857. The name was changed on September 17, 1872. No accounting records were obtained. Certain data indicated below were obtained from the records of the Central Railroad Company of Minnesota (of 1873). The records do not indicate whether the company was controlled by any individual or corporations on July 9, 1873, the date of sale, nor whether it then controlled any common-carrier corporation. The company owned on the date of sale about 40 miles of right of way between Wells and Mankato, Minn., on which only grading had been done. The certificate of mortgage sale states that this company had issued $469,000 par value of 7 percent bonds, dated July 1, 1870, and due July 1, 1895. The considerations received for these bonds when issued were not ascertainable. No outlay by this company for construction can be stated.

The Southern Minnesota Railway Extension
This company was incorporated January 21, 1878, in Minnesota. The accounting records of the company obtained were incomplete. No information can be given regarding the results of corporate operations. Certain information given below was obtained from the accounting records of its successor, The Southern Minnesota Railway Company.

This company was controlled by The Southern Minnesota Railway Company on January 1, 1880, the date of sale, through ownership of the entire outstanding capital stock. The records reviewed do not indicate that this company then controlled any common-carrier corporation. The property of this company was operated by The Southern Minnesota Railway Company from the date the first sections of the railroad were placed in operation until January 1, 1880.

The railroad owned by the company consisted of approximately 138 miles standard-gage, steam railroad, extending from Winnebago, Minn., to Flandreau, S. Dak. and about 34 miles of graded right of way between Sioux Falls and Egan, S. Dak., which had been constructed for it by The Southern Minnesota Railway Company. Further details are given in the accounting report on the St. Paul.

Chicago and Superior Railroad
This company was incorporated under the general laws of Wisconsin and Illinois through articles of consolidation, dated December 6, 1871, filed in Wisconsin June 19, 1873, and in Illinois June 30, 1873. No accounting records were obtained. Certain data given below were obtained from the records of the St. Paul.

This company was controlled on April 16, 1880, the date of sale, by the St. Paul through ownership of a majority of its capital stock. The records reviewed do not indicate that this company controlled any common-carrier corporation. The property was operated by the St. Paul under lease during its entire life.

The railroad owned, 33.01 miles, consisted of a single-track, standard-gage, steam railroad, from Madison to Portage, Wis., which had been acquired in the consolidation of June 30, 1873, from the Madison and Portage Railroad Company.

Madison and Portage Railroad
This company was incorporated February 25, 1870, in Wisconsin. No accounting records of the company were obtained. Certain information given below was obtained from the records of the St. Paul.

This company was controlled on June 30, 1873, the date of consolidation, by James Campbell through ownership of a majority of its capital stock. The property was operated under lease by the St. Paul from the date construction was completed in 1870, to date of consolidation.

The railroad owned, 33.01 miles, consisted of a single-track, standard-gage, steam railroad, extending from Madison to Portage, Wis., which had been acquired, when partly constructed, from the Sugar River Valley Railroad Company on August 9, 1870, and was completed by this company in 1870.

The Rockford Central Railroad
This company was incorporated March 9, 1869, in Illinois. No accounting records were obtained. The company did not construct, own, or operate any railroad on June 30, 1873, the date of consolidation.

Sugar River Valley Railroad
This company was incorporated March 29, 1855, in Wisconsin. No accounting records were obtained. Certain data indicated below were taken from the records of the St. Paul. The records reviewed do not indicate that the company was controlled by any individual or corporation on August 1, 1880, the date of sale, or that it then controlled any common-carrier corporation.

During 1857 and 1859 the company acquired right of way and graded a roadbed extending from Brodhead to Albany, Wis. During the same period it also performed some construction work on its line between Madison and Portage, Wis., using an old roadbed which had been abandoned by the La Crosse and Milwaukee Rail Road Company (of 1856), another predecessor of the St. Paul. The construction work on these two sections of road was not completed by the Sugar River Valley Railroad Company.

The company's uncompleted road between Madison and Portage, Wis., was sold after foreclosure to James Campbell, that part in Dane County being sold November 29, 1869, and that part in Columbia County being sold April 4, 1870. This property was conveyed August 9, 1870, to the Madison and Portage Railroad Company. The company sold its uncompleted road between Brodhead and Albany to the St. Paul on August 1, 1880. No outlay by this company for construction of its property can be stated.

The Mineral Point Railroad
This company was incorporated November 18, 1861, in Wisconsin. No accounting records were obtained. Certain data indicated below were taken from its minute book and from the records of the St. Paul.

The Mineral Point Railroad was controlled on September 29, 1880, the date of sale, by Luther Beecher through ownership of a majority of the capital stock. It did not then control any common-carrier corporation. The property of this company was operated by its own organization from November 12, 1861, date acquired, to date of sale. It also operated certain property of the Dubuque, Platteville and Milwaukee Railroad Company, as explained in the report on that company.

The railroad owned, 49.43 miles, consisted of a single-track, standard-gage, steam railroad, from Mineral Point, Wis., to Warren, Ill., 32.29 miles, and a branch line from Calamine to Platteville, Ill., 17.14 miles. Of the 49.43 miles of road owned it had acquired 32.29 miles from the Mineral Point Rail Road Company and 7.54 miles of completed road and 9.60 miles of partially constructed road from the Dubuque, Platteville and Milwaukee Railroad Company. Details are given in the accounting report on the St. Paul.

Mineral Point Railroad
This company was incorporated April 17, 1852, in Wisconsin. No accounting records were obtained. Certain data indicated below were taken from the records of the St. Paul. The records reviewed do not indicate whether the company was controlled by any individual or corporation on November 6, 1861, the date of sale, or that it then controlled any common-carrier corporation. The property was operated by its own organization from the date of completion to date of sale. The railroad owned, 32.29 miles, consisted of a single-track, standard-gage, steam railroad, extending from Mineral Point, Wis., to Warren, Ill., which had been acquired by construction during 1857. The outlay by this company for construction cannot be stated.

Dubuque, Platteville and Milwaukee Railroad, Formerly Named Platteville and Calamine Railroad
This company was originally incorporated as the Platteville and Calamine Railroad Company in Wisconsin on March 15, 1861. The name was changed on April 6, 1867. No accounting records were obtained. Certain information given below was obtained from other records of the company and from the records of the St. Paul.

This company was controlled by The Mineral Point Railroad on August 6, 1880, the date of the sale, through ownership of a majority of the capital stock. The records reviewed do not indicate that this company controlled any common-carrier corporation. The property was operated by The Mineral Point Railroad from date completed in July 1870 to date of sale.

The railroad owned, 7.54 miles, consisted of a single-track, standard-gage, steam railroad extending from Belmont to Platteville, Wis., all acquired by construction. The company also partly constructed 9.60 miles of road extending from Calamine to Belmont, Wis., which was completed by The Mineral Point Railroad in 1868. Under the terms of an agreement, dated December 19, 1873, the Dubuque, Platteville and Milwaukee Railroad Company transferred its interests in this section of road and $275,000 par value of its capital stock to The Mineral Point Railroad, in consideration of which the latter canceled its claims on account of construction work on the 9.60 miles of road, and agreed to operate this section together with the 7.54 miles of road owned by this company.

Wisconsin Valley Railroad
This company was incorporated March 16, 1871, in Wisconsin. The records reviewed do not indicate that the company was controlled by any individual or corporation on July 1, 1880, the date of sale, nor that it then controlled any common-carrier corporation. The property was operated by its own organization from the dates the various sections of its road were completed to October 20, 1880. While the deed of conveyance to the St. Paul was dated July 1, 1880, it did not take possession of the property until October 20, 1880.

The railroad owned consisted of approximately 107.27 miles of single-track, standard-gage, steam railroad, extending from Tomah to Merrill, Wis., which had been acquired by construction. In addition, the company had trackage rights of about 41 miles over the railroad of the St. Paul between Tomah and La Crosse, Wis. Details are given in the accounting report on the St. Paul.

Chicago, Clinton, Dubuque and Minnesota Rail Road, Formerly Named Dubuque and Minnesota Railroad
This company was originally incorporated as the Dubuque and Minnesota Railroad Company in Iowa on September 13, 1877. The name was changed on February 22, 1878. Although the incorporation of this company was not effected until September 13, 1877, its books were opened as of March 1, 1877, and results of operations were recorded therein from that date until October 31, 1880, on which date the books were discontinued. While the deed of conveyance to the St. Paul was dated July 1, 1880, it did not take possession of the property until November 1, 1880, and constructed an extension of the road from Wadena to West Union, Iowa, under this company's charter, during 1883. Conveyance of the extension was made to the St. Paul by deed dated April 2, 1883.

The company was controlled on July 1, 1880, the date of sale, by the St. Paul through ownership of its outstanding capital stock. The records reviewed do not indicate that the company then controlled any common-carrier corporation.

The railroad owned, 324.34 miles, consisted of a single-track, standard-gage, steam railroad in Iowa and Minnesota. Its main line extended from River Junction, Minn., to Sabula Junction, Iowa, and 6 branches as follows: Reno to Preston, Minn.; Waukon Junction to Waukon, Iowa; Turkey River Junction to Wadena, Iowa; Bellevue to Cascade, Iowa; Elk River Junction to Midland Junction, Iowa; and Wadena to West Union, Iowa. In addition, the company used under trackage rights about 13 miles of the road of other carriers.

Development of Fixed Physical Property

Of the 324.34 miles of road owned by the company on the date of sale, it had acquired 132.15 miles from the Chicago, Dubuque and Minnesota Railroad Company; 46.10 miles from the Clinton and Dubuque Railroad Company; 14 miles from The Caledonia and Mississippi Railway Company; 43.77 miles from The Caledonia, Mississippi and Western Rail Road Company; 35.77 miles from the Chicago, Bellevue, Cascade and Western Railway Company; 22.95 miles from the Waukon and Mississippi Railroad Company, and 29.60 miles by construction. It is not known whether this construction work was performed by company forces or by contract. Further details are given in the report on the St. Paul.

Chicago, Dubuque and Minnesota Railroad, Formerly Named Dubuque and Minnesota Railway, Originally Named Dubuque and MacGregor Railway
This company was originally incorporated as the Dubuque and MacGregor Railway Company in Iowa on March 20, 1868. The name was changed on February 18, 1869, and was again changed on March 29, 1871. The records reviewed do not indicate that the company was controlled by any individual or corporation on September 20, 1877, the date of sale, nor that it then controlled any common-carrier corporation. The property of this company was operated by its own organization and its receivers from December 1, 1872, to February 28, 1877. From March 1, 1877, to date of sale, it was operated by the Dubuque and Minnesota Railroad Company.

The railroad owned amounted to 132.15 miles of single-track, standard-gage, steam railroad. The main line extended from Dubuque, Iowa, to River Junction, Minn., with a branch from Turkey River Junction, Iowa, to Garber, Iowa, which had been acquired by construction. Details are given in the accounting report on the St. Paul.

Clinton and Dubuque Railroad
This company was incorporated September 13, 1877, in Iowa. Although the company did not acquire title to its original property until September 20, 1877, it recorded the results from the operation thereof in its books beginning March 1, 1877.

The records do not indicate that the company was controlled by any individual or corporation on March 6, 1878, the date of sale, nor that it then controlled any common-carrier corporation. The property of this company was operated by its own organization from the date of the acquirement thereof to February 28, 1878. While the deed conveying the property of this company to the successor was dated March 6, 1878, possession was taken by that company on March 1, 1878.

The railroad owned, 46.10 miles, consisted of a single-track, standard-gage, steam railroad, extending from Dubuque to Sabula Junction, Iowa, and from Elk River Junction to Midland Junction, Iowa, which had been acquired from the Chicago, Clinton and Dubuque Railroad Company through foreclosure sale. It had trackage rights over about 13 miles of railroad of other carriers on date of sale.

Chicago, Clinton and Dubuque Railroad, Formerly Named The Dubuque, Bellevue and Mississippi Rail Way
This company was originally incorporated as The Dubuque, Bellevue and Mississippi Rail Way Company in Iowa on January 31, 1870. The name was changed on November 6, 1871. The records reviewed do not indicate that the company was controlled by any individual or corporation on September 20, 1877, the date of foreclosure sale, nor that it then controlled any common-carrier corporation.

The property of this company was operated by its own organization from date construction was completed, December 25, 1871, until January 14, 1875, and from that date until October 28, 1876, by receivers. From October 28, 1876, to February 28, 1977, it was operated by the trustees of the first mortgage for account of the company. While legal title to the property as not vested in the Clinton and Dubuque Railroad Company until September 20, 1877, that company recorded the results of operations in its books from March 1, 1877.

The railroad owned consisted of 46.10 miles of single-track, standard-gage, steam railroad, extending from Dubuque to Sabula Junction, Iowa, and from Elk River Junction to Midland Junction, Iowa, which had been acquired by construction. Details are given in the accounting report on the St. Paul. It had trackage rights of about 13 miles over the railroad of others providing a connection between Sabula Junction and Elk River Junction, Iowa, which afforded a line into Clinton, Iowa.

The Caledonia and Mississippi Railway
This company was incorporated December 3, 1873, in Minnesota. The records do not indicate whether the company was controlled by any individual or corporation on June 29, 1880, the date of sale, nor, whether it then controlled any common-carrier corporation. The property of this company was operated by the Chicago, Clinton, Dubuque and Minnesota Rail Road Company from the date of completion in December 1879 until the date of sale. The company owned about 14 miles of single-track, narrow-gage, steam railroad, extending from Reno to Caledonia, Minn., which had been acquired by construction. Details are given in the accounting report on the St. Paul.

Waukon and Mississippi R. R. Co.
This company was incorporated April 15, 1875, in Iowa. No accounting records for the period prior to August 1877 were obtained.

The company was controlled on date of sale by the Chicago, Clinton, Dubuque and Minnesota Rail Road Company through ownership of its outstanding capital stock. It did not then control any common-carrier corporation.

The property of this company was operated for its account by the Waukon and Mississippi Railroad Guaranty Company, from the date placed in operation, October 1, 1878, until August 31, 1880, Although the deed conveying this property to the successor was dated June 29, 1880, possession was not taken by that company until September 1, 1880.

The owned 22.95 miles of single-track, standard-gage, steam railroad from Waukon to Waukon Junction, Iowa, had been acquired by construction. Details are given in the accounting report on the St. Paul.

Chicago, Bellevue, Cascade and Western Railway
This company was incorporated January 30, 1878, in Iowa. The records do not indicate whether the company was controlled by any individual or corporation on June 29, 1880, the date of sale, nor, whether it then controlled any common-carrier corporation. The property of this company was operated by its own organization from the date completed, January 1, 1880, to August 31, 1880. While the deed to successor was dated June 29, 1880, possession of the property was not taken by that company until September 1, 1880.

The company owned 35.77 miles of single-track, narrow-gage, steam railroad from Bellevue to Cascade, Iowa, which had been acquired by construction. Details are given in the accounting report on the St. Paul.

The Caledonia, Mississippi and Western Rail Road
This company was incorporated April 2, 1879, in Minnesota. It was controlled on June 29, 1880, the date of sale, by the Chicago, Clinton, Dubuque and Minnesota Rail Road Company through ownership of a majority of the outstanding capital stock. It did not then control any common-carrier corporation. The property of this company was operated by its own organization from date of completion, January 1, 1880, to August 31, 1880. While the deed to successor was dated June 29, 1880, possession of the property was not taken by that company until September 1, 1880.

The company owned 43.77 miles of single-track, standard-gage, steam railroad from Caledonia to Preston, Minn., which had been acquired by construction. Details are given in the accounting report on the St. Paul.

Pine River Valley & Stevens Point Rail Road
This company was incorporated August 5, 1872, in Wisconsin. No accounting records of this company were obtained. Certain data indicated below were obtained from its minute book and from the records of the St. Paul. The company was controlled on October 12, 1880, the date of sale, by the St. Paul through ownership of its entire capital stock. The records reviewed do not indicate that this company then controlled any common-carrier corporation. The property of this company was operated from August 1876 to June 1880 by its own organization, and from the latter date to date of sale by the St. Paul, under agreement dated May 22, 1880. The company owned 16.22 miles of narrow-gage steam railroad from Lone Rock to Richland Center, Wis., which had been acquired by construction between 1875 and August 10, 1876. Details are given in the accounting report on the St. Paul.

Viroqua Railway
This company was incorporated May 24, 1878, in Wisconsin. No accounting records of this company were obtained. Certain data indicated below were obtained from its minute book and from the records of the St. Paul. The company was controlled on November 6, 1880, the date of sale, by the St. Paul through ownership of its outstanding capital stock. It did not then control any common-carrier corporation. The property of this company was operated by the St. Paul without formal contract from September 1, 1879, to date of sale. The company owned 32.17 miles of single-track, standard-gage railroad from Viroqua Junction to Viroqua, Wis., which had been constructed for it by the St. Paul, in 1879.

Eastern La Fayette and Mississippi Railway
This company was incorporated March 24, 1871, in Wisconsin. No accounting records of this company were obtained. Certain data indicated below were obtained from the records of the St. Paul. The records do not indicate whether this company was controlled by any individual or corporation on December 29, 1880, the date of sale to the St. Paul, nor, whether it then controlled any common-carrier corporation. The company owned on date of sale only certain right of way and options on lands between Monroe and Shullsburg, Wis. It did not own any completed railroad.

Dubuque South Western Rail Road
The company was incorporated June 26, 1863, in Iowa. The company was controlled on February 22, 1881, the date of sale, by the St. Paul through ownership of a majority of its outstanding capital stock. It did not then control any common-carrier corporation. The property of this company was operated by its own organization from June 22, 1863, to 1869. From 1869 to May 22, 1878, it was operated by a trustee for the bondholders, and from latter date to date of sale by the St. Paul under lease agreement. The company owned 57.20 miles of single-track, standard-gage, steam railroad from Farley to Cedar Rapids, Iowa, of which 41.40 miles had been acquired through foreclosure and reorganization of the Dubuque, Marion and Western Railroad Company and 15.80 miles by construction by nonaffiliated contractors. Details are given in the accounting report on the St. Paul.

Dubuque, Marion and Western Railroad
This company was incorporated February 13, 1860, in Iowa. Complete accounting records of this company were not obtained. The records do not indicate that the company was controlled by any individual or corporation on June 22, 1863, the date of foreclosure sale, nor, that it then controlled any common-carrier corporation. The property was operated by the company's own organization from April 30, 1861, when original mileage was acquired to date of sale. The company owned 41.40 miles of single-track, standard-gage, steam railroad from Farley to Springville, Iowa, of which 30.70 miles had been acquired through foreclosure sale, from the Dubuque Western Rail Road Company, and 10.70 miles by construction. It began construction of 10.80 miles from Springville to Marion which was completed by its successor. Details are given in the accounting report on the St. Paul.

Dubuque Western Rail Road
This company was incorporated September 10, 1855, in Iowa. No accounting records of this company were obtained. Certain information has been taken from the accounting records of its successors, the Dubuque, Marion and Western Railroad Company and the Dubuque South Western Rail Road Company.

The records do not indicate whether the company was controlled by any individual or corporation on April 30, 1861, the date of sale, nor, whether it then controlled any common-carrier corporation. The property was operated by contractors, and later by a receiver from date of completion to date of sale. The company owned 30.70 miles of single-track standard-gage railroad from Farley to Anamosa; Iowa, acquired by construction. Details are given in the accounting report on the St. Paul.

Sioux City and Dakota Rail Road
This company was incorporated under the general laws of Dakota Territory through articles of consolidation, filed October 28, 1879. The records do not indicate that the company was controlled by any individual or corporation on February 22, 1881, the date of sale, nor, that it then controlled any common-carrier corporation. The property of this company was operated by its own organization from October 28, 1879, to March 20, 1880. From that date to date of sale it was operated by the St. Paul under lease. The company owned 131.90 miles of single-track, standard-gage, steam railroad, of which 109.40 miles had been acquired by consolidation, 61.30 miles from the Dakota Southern Railroad Company and 48.10 miles from the Sioux City and Pembina Railway Company. The records indicate that 22.50 miles of uncompleted road between Beloit, Iowa, and Sioux Falls, S. Dak., was acquired from the Sioux City and Pembina Railway Company and completed. Details are given in the accounting report on the St. Paul.

Sioux City and Pembina Railway
This company was incorporated January 29, 1876, in Dakota. No accounting records of this company were obtained. Certain information indicated herein after was obtained from the minute book of the company and from the books of account of the Dakota Southern Railroad Company. The properties of these companies had been jointly operated and the results of such joint operation for the period from January 1, 1878, to May 31, 1879, were included without separation in the income and profit and loss accounts of the Dakota Southern Railroad Company.

The records of the company indicate that it was controlled on October 28, 1879, the date of consolidation, by John I. Blair through ownership of a majority of its outstanding capital stock. The records do not indicate that the company controlled any common-carrier corporation.

The railroad owned by the company on the date of consolidation is described as 48.10 miles of single-track, standard-gage, steam railroad, from Elk Point, S. Dak., to Beloit, Iowa, also a partly constructed railroad from Beloit, Iowa, to Sioux Falls, S. Dak., 22.50 miles, all of which had been acquired by construction, which was done by Wicker and Morrison, contractors. Details are given in the report on the St. Paul.

Dakota Southern Railroad
This company was incorporated in Dakota through articles of incorporation, dated March 17, 1871, recorded April 1, 1872. The date of organization was June 3, 1871. No accounting records of this company were obtained for the period prior to January 1, 1877, and those that were obtained were incomplete. Certain information indicated hereinafter was obtained from the minute book.

Certain data relating to the financial dealings and investments of the Sioux City and Pembina Railway Company were included in the accounts of this company. The available details of such transactions have been given in the report on that company. The properties of this company and the Sioux City and Pembina Railway Company were jointly operated from January 1, 1877, to May 31, 1879. The results of such operations were included in the income and profit and loss accounts of the Dakota Southern Railroad Company but were not separable. From June 1, 1879, to the date of consolidation the operating results of the company were included in the accounts of its successor.

The records of the company indicate that it was controlled, on the date of consolidation, by John I. Blair through ownership of a majority of its capital stock. The records do not indicate that it controlled any common-carrier corporation.

The company owned, on date of consolidation, 61.30 miles of single-track, standard-gage, steam railroad, from Sioux City, Iowa, to Yankton, S. Dak., which had been acquired by construction. The records indicate that construction was performed by Wicker, Meckling & Company, contractors. Chas. G. Wicker, of this firm, was president of the Dakota Southern Railroad Company at the date of consolidation. Details given in the report on the St. Paul.

The Stillwater and Hastings Railway
This company was incorporated April 9, 1880, in Minnesota. No accounting records of this company were obtained. Certain information shown below has been obtained from the minute book of the company and from the records of the St. Paul.

The company was controlled by the St. Paul on March 1, 1882, date of sale, through ownership of capital stock. The records do not indicate that it controlled any common-carrier corporation. The property of the company had not been put in operation prior to the date of sale. The company owned on the date of sale 2 miles of railroad extending from Lakeland to Lakeland Junction, Minn., acquired by construction during 1880. The construction work was performed by W. P. Allen, contractor.

Janesville, Beloit and Rockford Railway
This company was incorporated March 10, 1880, in Wisconsin. No accounting records of this company were obtained. Certain information stated below was obtained from the minute books and the records of the St. Paul. The records do not indicate that the company was controlled by any individual or corporation on March 29, 1882, the date of sale, nor, that it then controlled any common-carrier corporation.

The property of this company was operated by the St. Paul from the date construction was completed until date of sale, but the arrangements under which the operations were conducted were not shown in the records reviewed. The company owned 13.36 miles of single-track, standard-gage, steam railroad, extending from Janesville to Beloit, Wis., acquired by construction during 1880.

The Iowa Eastern Railroad
This company was incorporated April 1, 1872, in Iowa. No accounting records of this company were obtained. Certain data given below has been obtained from its minute book and records of the St. Paul. The records do not indicate that the company was controlled by any individual or corporation on February 24, 1880, the date of foreclosure sale, nor, that it then controlled any common-carrier corporation.

The property of this company was operated by its own organization from date of completion to date of sale. The company owned 14.49 miles of single-track, narrow-gage, steam railroad from Beulah to Stulta, Iowa, acquired by construction during 1872. An unknown amount of partly graded right of way and ties were bought from the Milwaukee, Chicago, Cassville and Montana Railway Company.

Milwaukee, Chicago, Cassville and Montana Railway
This company was incorporated June 22, 1871, in Iowa. No accounting records of this company were obtained. Certain information given below has been obtained from its minute books. The records do not indicate that this company was controlled by any individual or corporation on March 23, 1872, the date of sale, nor, that it then controlled any common-carrier corporation. The company proposed to construct a railroad to extend from Milwaukee, and Chicago, Ill., to Helena, Mont. The company bought or contracted for an unknown amount of right of way and ties, and did an unknown amount of grading. It received $9,895 from sundry persons as part payment on subscription to an issue of bonds. These subscriptions, however, were refunded with interest. No outlay by this company for construction of its property can be stated.

Chippewa Valley and Superior Railway
This company was incorporated June 15, 1881, in Wisconsin. This company was controlled on November 9, 1882, the date of sale, by individuals, officers, and directors of the St. Paul. On the other hand, the records do not indicate that it then controlled any common-carrier corporation. The property of the company was operated by its own organization from the completion of construction in May 1882 to the date of sale. This company owned on date of sale 68.97 miles of single-track, standard-gage, steam railroad, 48.30 miles from Wabasha, Minn., to Eau Claire, Wis., and 20.67 miles from Red Cedar Junction to Cedar Falls, Wis., all acquired by construction. Details are given in the report on the St. Paul.

Minnesota Midland Railway
This company was incorporated January 15, 1876, in Minnesota. No accounting records of this company were obtained. Certain data indicated below were obtained from its minute book and from the records of the St. Paul. The company was controlled on February 12, 1883, the date of sale, by the St. Paul through ownership of its outstanding capital stock. The records do not indicate that the company controlled any common-carrier corporation.

The property was operated by the St. Paul from completion of construction in August 1878 to the date of sale. The terms of the operating agreement were not ascertained. The company owned 60.21 miles of single-track, narrow-gage, steam railroad from Wabasha to Zumbrota, Minn., acquired by construction. Details in the report on the St. Paul.

Fond du Lac, Amboy & Peoria Railway
This company was incorporated under the general laws of Illinois and Wisconsin through articles of consolidation, dated March 22, 1875, filed in Illinois June 9, 1875, and in Wisconsin January 26, 1876. No accounting records of this company were obtained. Certain information has been taken from the accounting records of the St. Paul. The records do not indicate whether the company was controlled by any individual or corporation on December 31, 1883, the date of sale, nor, whether it then controlled any common-carrier corporation.

The property owned by the company was operated by its own organization from date of completion to date of sale, excepting 1 year during receivership in 1878–79, and from September 4, 1883, to December 31, 1883, when it was operated by a trustee. The company owned 28.52 miles of single-track, narrow-gage, steam railroad from Iron Ridge to Fond du Lac, Wis., acquired by construction during 1877. About 7.60 miles of road between Iron Ridge and Mayville, Wis., was constructed on right of way and graded roadbed acquired from the Iron Ridge and Mayville Railroad Company. The records do not indicate who performed the construction work.

The Fond du Lac, Amboy & Peoria Railway
This company was incorporated October 10, 1874, in Illinois. No accounting records of this company were obtained. The records do not indicate whether the company was controlled by any individual or corporation on June 9, 1875, the date of consolidation, nor, whether it then controlled any common-carrier corporation. The company owned no common-carrier property on the date of consolidation.

Fond du Lac and Whitewater Railway
This company was incorporated December 26, 1874, in Wisconsin. No accounting records of this company were obtained. The records do not indicate whether the company was controlled by any individual or corporation on June 9, 1875, the date of consolidation, nor, whether it then controlled any common-carrier corporation. The company owned no common-carrier property on the date of consolidation.

Iron Ridge and Mayville Railroad
This company was incorporated April 10, 1865, in Wisconsin. No accounting records of this company were obtained. Therefore, no information can be given from the accounts regarding its financial dealings, corporate operations, or investments. The records do not indicate whether the company was controlled by any individual or corporation on October 4, 1878, the date of sale, nor, whether it then controlled any common-carrier corporation. The property owned on the date of sale consisted of right of way and graded roadbed between Iron Ridge and Mayville, Wis.

Fox Lake Railroad
The Fox Lake Railroad Company was incorporated March 10, 1859, in Wisconsin. No accounting records of this company were obtained. Certain information as hereinafter stated was obtained from the records of the St. Paul.

The company was controlled on July 3, 1884, by the village of Fox Lake, Wis., through ownership of the entire outstanding capital stock. On that date the village of Fox Lake entered into an agreement with the St. Paul covering the transfer to the latter of the capital stock of this company in consideration for the reconstruction and operation of this company's property. The St. Paul has claimed ownership of the property of this company since 1904 by adverse possession.

The company owned on July 3, 1884, 2.70 miles of horse-car line from Fox Lake to Fox Lake Junction, Wis. In 1884 the St. Paul reconstructed the road as a single-track, standard-gage, steam railroad.

Fox Lake and Wisconsin River Railroad
This company was incorporated March 5, 1857, in Wisconsin. No accounting records of the company were obtained. This company did not own any completed railroad on June 14, 1859, the date of sale.

Fargo and Southern Railway
This company was incorporated June 25, 1881, in the Territory of Dakota. The company was controlled by the St. Paul on June 16, 1885, the date of sale, through ownership of a majority of its outstanding capital stock. This company did not control any common-carrier corporation. The property of this company was operated by its own organization from the date completed, in the year 1884, to date of sale. The company owned on date of sale 116.97 miles of single-track, standard-gage, steam railroad, in North Dakota, South Dakota, and Minnesota, from Fargo, N. Dak., to Ortonville, Minn., acquired by construction. No completed road was acquired in the purchase of the property, rights, and franchises of the Fargo & St. Louis Air Line Rail Road Company. Details are given in the report on the St. Paul.

Fargo & St. Louis Air Line Rail Road
This company was incorporated July 14, 1883, in Minnesota. No accounting records of the company were obtained. The records of the successor company do not indicate whether this company was controlled by any individual or corporation on September 10, 1883, the date of sale, nor, whether it then controlled any common-carrier corporation. This company did not own any completed railroad on date of sale.

The Mazomanie, Sauk City and Prairie Du Sac Rail Road
This company was incorporated December 21, 1880, in Wisconsin. No accounting records of this company were obtained. Certain information stated below was obtained from the records of the St. Paul. The records do not indicate whether the company was controlled by any individual or corporation on May 28, 1886, the date of sale, nor, whether it then controlled any common-carrier corporation.

The property was operated by the St. Paul from the date placed in operation in 1881 until date of sale. The arrangements under which the property was operated were not disclosed by the records. The company owned on date of sale 10.37 miles of single-track, standard-gage, steam railroad, from Mazomanie to Prairie du Sac, Wis., which had been acquired by construction during 1881.

Dakota and Great Southern Railway
This company was incorporated August 14, 1883, in the Territory of Dakota. No accounting records were available for the period from July 10, 1885, to October 1, 1886, the date of sale. Certain information pertaining to the above period has been taken from the accounting records of the St. Paul. This company was controlled by the St. Paul on date of sale, through stock ownership. The records do not indicate that it then controlled any common-carrier corporation. The property of this company was not placed in operation prior to date of sale.

The company had constructed on date of sale, 158.66 miles of single-track, standard-gage, steam railroad, of which 103.02 miles extended from Madison to Bristol, S. Dak., and 55.64 miles, from Andover, S. Dak., to Harlem, N. Dak. Details are given in the accounting report on the St. Paul.

The Cedar Rapids & St. Louis Railroad
This company was incorporated March 6, 1871, in Iowa. No accounting records were obtained. Certain information stated below was obtained from the records of the St. Paul. The records do not indicate that the company was controlled by any individual or corporation on August 5, 1881, the date of foreclosure sale, nor that it then controlled any common-carrier corporation. Prior to the year 1873, this company had graded a part of the right of way for a railroad between Ottumwa and Sigourney, Iowa, about 30 miles. The outlay for construction by this company to date of sale cannot be stated.

Lisbon, Necedah & Lake Superior Railway
This company was incorporated November 16, 1889, in Wisconsin. No accounting records were obtained. Certain data indicated below were obtained from the records of the St. Paul. The company was controlled on June 30, 1891, date of sale, by the St. Paul through stock ownership. The records do not indicate that it then controlled any common-carrier corporation. The company owned on date of sale 22.16 miles of uncompleted railroad between Necedah and Lynn, Wis., which had been constructed for it by the St. Paul.

Milwaukee, Dexterville and Northern Railway
This company was incorporated August 27, 1884, in Wisconsin. No accounting records were obtained. Certain data indicated below were obtained from the records of the St. Paul. The company was controlled on June 30, 1891, the date of sale, by the Dexterville Construction Company through a contract for the issuance to that company of its capital stock in part payment for the construction of its road. The records do not indicate that this company then controlled any common-carrier corporation. The property was operated by the Dexterville Construction Company from the date placed in operation until date of sale.

The company owned 22.45 miles of single-track, standard-gage, steam railroad from Dexterville to Lynn, Wis., acquired by construction during the period 1887 to 1889.

Wisconsin, Pittsville and Superior Railway
This company was incorporated September 2, 1882, in Wisconsin. No accounting records were obtained. Certain data indicated below were obtained from the records of the St. Paul. The company was controlled on June 30, 1891, date of sale, by the St. Paul through stock ownership. The records do not indicate that it controlled any common-carrier corporation. The property was operated by its own organization from date of completion until date of sale.

The company owned 18.39 miles of single-track, standard-gage, steam railroad, its main line extending from Babcock to Pittsville Junction[sic - Pittsville], Wis., 9.97 miles, and its branch line from Pittsville Junction to Vesper, Wis., 8.42 miles, all acquired by construction during 1883. The records do not indicate by whom the road was constructed.

The Wood County Railroad
This company was incorporated June 21, 1883, in Wisconsin. No accounting records were obtained. Certain information stated below was taken from the accounting records of the St. Paul. The records do not indicate that the company was controlled by any individual or corporation on October 31, 1891, the date of sale, nor that it then controlled any common-carrier corporation. The property was operated by its own organization from the date the property was placed in operation until the date of sale. The company owned 5.50 miles of single-track, standard-gage, steam railroad, from Vesper to Arpin, Wis., acquired by construction during 1889. The records do not indicate by whom construction work was performed.

The Oshkosh and Mississippi River Railroad
This company was incorporated March 30, 1866, in Wisconsin. No accounting records were obtained. However, certain information was obtained from the records of the St. Paul. The records do not indicate whether the company was controlled by any individual or corporation on February 17, 1893, the date of sale, nor, whether it then controlled any common-carrier corporation. The road was operated by the St. Paul or its predecessor from completion to date of sale.

The railroad owned, 19.08 miles, was a single-track, standard-gage, steam railroad, from Ripon to Oshkosh, Wis. It had been acquired by construction in 1871. A part was constructed on a graded roadbed formerly of the Winnebago Rail Road Company. The records do not indicate how the work was done.

Winnebago Rail Road
This company was incorporated April 2, 1853, in Wisconsin. No accounting records were obtained. Certain data were taken from the records of the St. Paul. The records do not indicate whether the company was controlled by any individual or corporation on January 4, 1866, the date of sale, nor, whether it then controlled any common-carrier corporation. The property consisted of a right of way on which some grading had been done. The records do not indicate the amount expended.

The Milwaukee and Northern Railroad (of 1887)
Introductory

This company was incorporated through articles of consolidation, dated December 7, 1886, filed in Michigan September 2, 1887, and in Wisconsin September 12, 1887. It was controlled on June 26, 1893, the date of sale, by the St. Paul through stock ownership. The records do not indicate that it then controlled any common-carrier corporation. The property was operated by its own organization from completion in September 1887 to date of sale.

The railroad owned, 419.83 miles, consisted of a single-track, standard-gage, steam railroad, in Michigan and Wisconsin. Its main line extended from North Milwaukee, Wis., to Champion, Mich., 253.79 miles, and its branch lines, to Ontonagon and Menominee, Mich., and Oconto, Appleton, Neenah, and Girard Junction, Wis., 166.04 miles. It had trackage rights over about 8 miles of track of the St. Paul, North Milwaukee to Milwaukee, Wis.

Development of Fixed Physical Property

The total mileage, 419.83, was acquired: 60.72 by purchase, 62.53 by construction, and 239.88 completed road and 56.70 uncompleted in consolidation. This company completed the 56.70 miles. Details are given in the accounting report on the St. Paul.

The Milwaukee and Northern Railroad (of 1880)
Introductory

This company was incorporated June 5, 1880, in Wisconsin. It was controlled on September 2, 1887, the date of consolidation, by individuals who also controlled other companies which consolidated with this company to form The Milwaukee and Northern Railroad Company (of 1887). The records do not indicate that this company then controlled any common-carrier corporation. The property was operated by trustees from the date of acquisition to August 1, 1882, and after that date by its own organization.

The railroad operated by the company was a single-track, standard-gage, steam railroad in Wisconsin and Michigan, 239.88 miles. The owned mileage, 238.08 miles, consisted of a main line, from North Milwaukee to Menominee River and branch lines, from Hilbert Junction to Appleton and Neenah and from Ellis Junction to Marinette, all in Wisconsin. The mileage operated under lease, 1.80 miles, extended from Marinette, Wis., to Menominee, Mich. Trackage rights over 8 miles of the St. Paul afforded access to Milwaukee, Wis.

Development of Fixed Physical Property

Of the 238.08 miles of road owned on date of consolidation, 120.50 miles had been acquired through foreclosure sale from The Milwaukee and Northern Railway Company, 4.70 miles at foreclosure sale from The Menasha and Appleton Railway Company, 24.40 miles by purchase from The Wisconsin and Michigan Railroad Company, and 88.48 miles by construction. Further details are given in accounting report on the St. Paul.

The Milwaukee and Northern Railway
This company was incorporated February 24, 1870, in Wisconsin. The accounting records obtained cover only the period from date of organization to May 31, 1876, and during its receivership, May 1879 to June 1880.

The records do not indicate whether the company was controlled by any individual or corporation on the date of sale, nor, whether it then controlled any common-carrier corporation.

The property owned was operated by the Milwaukee and St. Paul Railway Company from the date the first section was placed in operation about December 1870, under lease until November 30, 1873. From that date to date of sale it was operated by the Wisconsin Central Railroad Company under lease.

The railroad owned, 120.50 miles, consisted of a single-track, standard-gage, steam railroad in Wisconsin. Its main line extended from North Milwaukee to Fort Howard, Wis., 104.80 miles, and the branch line, from Hilbert Junction to Menasha, Wis., 15.70 miles. The entire road owned has been acquired by construction. About 5 miles of its road between North Milwaukee and Cedarburg, Wis., was constructed on old roadbed formerly owned by the Milwaukee and Superior Railroad Company. The work was done under contract by the Milwaukee Construction Company, an affiliated corporation. Further details are given in the accounting report on the St. Paul.

Milwaukee and Superior Railroad - Predecessor of The Milwaukee and Northern Railway
This company was incorporated March 4, 1856, in Wisconsin. No accounting records were obtained but certain data were obtained from the records of The Milwaukee and Northern Railway Company. The records do not indicate whether the company was controlled by any individual or corporation on August 27, 1859, the date of sale, nor, whether it then controlled any common-carrier corporation. It constructed about 5 miles of railroad between Milwaukee and Cedarburg, Wis., which had been abandoned prior to date of sale. The outlay for construction cannot be stated.

The Menasha and Appleton Railway
This company was incorporated July 12, 1879, in Wisconsin. It was controlled on June 5, 1880, the date of sale, by individuals who also controlled The Milwaukee and Northern Railroad Company (of 1880). The records do not indicate that this company then controlled any common-carrier corporation. The property was operated by trustees from the date of completion, in 1880, until date of sale. The company owned on date of sale, 4.70 miles of single-track, standard-gage, steam railroad, Menasha to Appleton, Wis., which had been acquired by construction during 1879–1880.

The Wisconsin and Michigan Railroad
This company was incorporated January 31, 1881, in Wisconsin. It was controlled on January 6, 1887, the date of sale, through stock ownership by individuals who controlled The Milwaukee and Northern Railroad Company (of 1880). The records do not indicate that this company then controlled any common-carrier corporation. The property was operated by The Milwaukee and Northern Railroad Company (of 1880) from date of completion in August 1882 until date of sale. The railroad owned, 24.40 miles, consisted of a single-track, standard-gage, steam railroad, Fort Howard to Stiles, Wis., which had been acquired by construction during 1881.

Republic Branch Railroad
This company was incorporated September 28, 1881, in Michigan. No accounting records were obtained, but certain information was obtained from the records of The Wisconsin and Michigan Railroad Company, the minute book, and records of the St. Paul. The records indicate that the company was controlled on September 2, 1887, the date of consolidation, by individuals who controlled The Milwaukee and Northern Railroad Company (of 1880). The records do not indicate that this company then controlled any common-carrier corporation. The property was not operated prior to date of consolidation.

The railroad owned was a partially constructed single-track, standard-gage, steam railroad extending from the Menominee River to Champion, Mich., 56.70 miles. It was in course of building on date of consolidation by The Wisconsin and Michigan Railroad Company, as contractor.

Menominee Branch Railroad
This company was incorporated July 9, 1883, in Michigan. No accounting records were obtained but certain information was obtained from the records of The Wisconsin and Michigan Railroad Company, the minute book, and the records of the St. Paul.

The records indicate that the company was controlled on September 2, 1887, the date of consolidation, by individuals who controlled The Milwaukee and Northern Railroad Company (of 1880). The records do not indicate that this company then controlled any common-carrier corporation. The property was operated from the date of completion, in 1884, to date of consolidation by The Milwaukee and Northern Railroad Company (of 1880).

The railroad owned, 1.80 miles, consisted of a single-track, standard-gage, steam railroad, Marinette, Wis., to Menominee, Mich., which had been constructed by The Wisconsin and Michigan Railroad Company as contractor during 1884.

The Ontonagon and Brule River Railroad
This company was incorporated September 10, 1880, in Michigan. It was controlled on June 20, 1890, the date of sale, through stock ownership, by individuals who controlled The Milwaukee and Northern Railroad Company (of 1887). The records do not indicate that this company then controlled any common-carrier corporation. The property was operated by its own organization from the date each section of the road was placed in operation to October 1889 and by trustees, from the latter date to December 31, 1899. No information was obtainable regarding the operation from January 1, 1890, to date of sale.

The railroad owned, 46 miles, consisted of a single-track, standard-gage, steam railroad from Ontonagon to Sidnaw, Mich., which had been acquired by construction. Details are given in the accounting report on the St. Paul. The sale of the common-carrier property on June 20, 1890, did not include the land-grant lands then owned; the company has maintained its corporate existence to date of valuation.

Oconto and South Western Railway
This company was incorporated August 6, 1889, in Wisconsin. The records do not indicate that it was controlled by any individual or corporation on June 17, 1890, the date of sale, nor, that it then controlled any common-carrier corporation. The property was operated by The Milwaukee and Northern Railroad Company (of 1887) from date of completion to date of sale. The road owned, 11.94 miles, consisted of a single-track, standard-gage, steam railroad, Oconto Junction to Oconto, Wis., which had been acquired by construction during 1889.

Prairie du Chien and McGregor Railway
This company was incorporated October 10, 1872, in Wisconsin. No accounting records were obtained but certain information was obtained from the minute book. This company was controlled by the estate of John Lawler on October 18, 1894, the date of sale, through stock ownership. The records do not indicate that it then controlled any common-carrier corporation. The property was operated by its own organization from the date of completion to the date of sale. The property owned consisted of a railroad bridge across the Mississippi River at Prairie du Chien, Wis., including 1.26 miles of single-track, standard-gage, steam railroad, from Prairie du Chien, Wis., to McGregor, Iowa, which had been acquired by construction during 1873.

Chicago, Milwaukee and St. Paul Railway (of Illinois)
This company was incorporated April 3, 1872, in Illinois. No accounting records of this company were obtained. Certain data stated below were obtained from the company's minute book and from the records of the St. Paul. The records reviewed do not indicate whether the company was controlled by any individual or corporation on April 2, 1900, the date of sale, nor, whether it then controlled any common-carrier corporation.

The property owned by the company was operated by the St. Paul from the spring of 1873 to date of sale under lease dated December 12, 1872, for 999 years. That part of this company's road known as the Deering Line, located in the city of Chicago, Ill., which had been acquired subsequently to that date, and had been sold prior to the date of sale, was leased to the St. Paul on June 11, 1888, through The Chicago, Evanston and Lake Superior Railway Company.

The railroad owned consisted of 48.40 miles of single-track, standard-gage, steam railroad. Its main line extended from Western Avenue in Chicago, Ill., northerly to the Illinois-Wisconsin State line, 45.40 miles and a branch line extended from Rondout to Libertyville, Ill., 3 miles, all of which had been acquired by construction, the branch line being constructed on the right of way and graded roadbed acquired from The Libertyville Rail-Way Company in 1881. The 45.40 miles of main line was built for the company by the Chicago and Milwaukee Railway Construction Company, an affiliated company. Further details are given in the accounting report on the St. Paul.

In addition, the company owned on date of sale a one half interest in the line from Canal Street to Western Avenue in Chicago, Ill., 2.41 miles, which it had acquired from the Pennsylvania Company and others, under an agreement dated April 15, 1872. Besides the above, the company acquired by construction, during the year 1886, the Deering Line in the city of Chicago, Ill., 0.84 mile, which it sold to The Chicago, Evanston and Lake Superior Railway Company on June 13, 1898.

The Libertyville Rail-Way
This company was incorporated November 27, 1878, in Illinois. No accounting records of this company were obtained. Certain data indicated below were obtained from the files of the secretary of the company and from the records of the St. Paul. The records reviewed do not indicate whether the company was controlled by any individual or corporation on March 7, 1881, the date of sale, nor whether it then controlled any common-carrier corporation. The company owned no completed railroad on date of sale. Its property consisted of right of way and graded roadbed between Rondout and Libertyville, Ill., including depot grounds at Libertyville, Ill.

The Wisconsin Midland Railroad
This company was incorporated March 4, 1887, in Wisconsin. No accounting records of this company were obtained. Certain information given below was taken from the accounting records of the St. Paul. The records reviewed do not indicate whether this company was controlled by any individual or corporation on November 5, 1897, the date of sale, nor, whether it then controlled any common-carrier corporation.

The property of this company was operated by the St. Paul from the date completed to date of sale, under lease agreement dated July 8, 1890. The 2.30 miles of road owned by this company on date of sale had been acquired by construction during 1890. It consisted of a single-track, standard-gage, steam railroad, located in the city of Fond du Lac, Wis.

Chicago and Pacific Railroad, Originally Named The Atlantic and Pacific Rail Road
This company was originally incorporated in Illinois as The Atlantic and Pacific Rail Road Company on February 16, 1865. The name was changed on April 30, 1872. No accounting records of this company for the period from June 30, 1880, to April 2, 1900, were obtained. Certain data given below were taken from sources other than the accounting records of the company.

The records reviewed indicate that the company was controlled on April 2, 1900, the date of sale, by the St. Paul through ownership of a majority of its outstanding capital stock. The records reviewed do not indicate that this company then controlled any common-carrier corporation.

The property was operated by Dobbins and Company, contractors, from the date placed in operation to May 22, 1876, and from that date to April 1, 1880, by a receiver. From the latter date to date of sale it was operated by the St. Paul under a 999-year lease. The railroad owned, 88.47 miles, consisted of a single-track, standard-gage, steam railroad from Chicago (Halsted Street) to Byron, Ill., which had been acquired by construction performed by Dobbins and Company, contractors. Records do not indicate whether the contractors were affiliated with the company. Further details are given in the accounting report on the St. Paul.

The Chicago, Evanston and Lake Superior Railway
This company was incorporated in Illinois through articles of consolidation, dated December 22, 1885, filed December 2, 1890, made effective December 31, 1885. Accounting records of the company are available for the period from January 1, 1887, to March 31, 1892, only. The company was controlled by the St. Paul on April 2, 1900, the date of sale, through ownership of its entire outstanding capital stock. This company did not then control any common-carrier corporation. The property was operated by its own organization from January 1, 1886, to July 1, 1887, and from the latter date to date of sale it was operated by the St. Paul under lease.

The railroad owned, 15.51 miles, consisted of a single-track, standard-gage, steam railroad extending from Kinzie Street, Chicago, to Evanston, Ill., 11.69 miles, together with branches from Hawthorne Avenue, Chicago, to Deering, Ill., 0.84 mile, and from Galewood to Dunning, Ill., 2.98 miles. In addition, it owned a one sixth interest in the road extending from Fulton Street to Kinzie Street, Chicago, Ill., 0.16 mile. Of the 15.51 miles of road owned and the 0.16 mile of road jointly owned by the company on the date of sale, it had acquired 10.25 miles of owned and jointly owned road from The Chicago and Evanston Railroad Company; 2.98 miles from the Chicago Suburban Railway Company; 0.84 mile from the Chicago, Milwaukee and St. Paul Railway Company (of Illinois), and 1.60 miles by construction. Further details are given in the accounting report on the St. Paul.

Chicago and Lake Superior Rail Road
This company was incorporated October 6, 1883, in Illinois. No accounting records were obtained. Certain data given below were obtained from the minute book. The records do not indicate that the company was controlled by any individual or corporation on December 31, 1885, the date of consolidation, nor, that it then controlled any common-carrier corporation.

The Chicago and Evanston Railroad
This company was incorporated February 16, 1861, in Illinois. No accounting records for the period prior to September 5, 1882, were obtained. The company was controlled by the St. Paul on December 31, 1885, the date of consolidation, through ownership of the entire outstanding capital stock. It did not then control any common-carrier corporation. The property of this company was operated by its own organization from date of completion, May 1, 1885, to date of consolidation.

The railroad owned, 10.09 miles, was a single-track, standard-gage, steam railroad located in Illinois, extending from Chicago (Kinzie Street) to Calvary, Ill. In addition, the company owned a one-sixth interest in the line in Canal Street, Chicago, Ill., extending from Fulton to Kinzie Street, 0.16 mile.

The entire road owned on the date of consolidation had been acquired by construction during the years 1883 to 1885. The 0.16 mile of jointly owned road in Chicago had been acquired from the Chicago and North Western Railway Company, under agreement dated July 14, 1885. Further details are given in the accounting report on the St. Paul.

Chicago Suburban Railway
This company was incorporated July 13, 1882, in Illinois. No accounting records were obtained. Certain data given below were obtained from the minute book and from records of the St. Paul. The company was controlled on June 13, 1898, the date of sale, by the St. Paul through ownership of its capital stock. It did not then control any common-carrier corporation. The property of this company was operated by the St. Paul from the date completed to date of sale.

The railroad owned, 2.98 miles, of single-track, standard-gage, steam railroad, extending from Galewood to Dunning, Ill., had been acquired by construction during 1882. The construction work was performed by the forces of the St. Paul.

Des Moines, Northern and Western Railroad
This company was incorporated March 15, 1895, in Iowa. This company was controlled on May 1, 1899, the date of sale, by the St. Paul through ownership of its outstanding capital stock. It did not then control any common-carrier corporation. The property of this company was operated by its own organization from March 1, 1895, to June 30, 1899, although conveyed to the St. Paul prior to the latter date. The railroad owned, 146.95 miles, was a single-track, standard-gage, steam railroad, located in the State of Iowa, extending from Des Moines to Fonda, 111.98 miles, and from Clive to Boone, 34.97 miles, all of which had been acquired through individuals in whose names the property, formerly owned by the Des Moines, Northern & Western Railway Company, was purchased at foreclosure sale. In addition, this company had trackage rights of 0.75 mile over the road owned by the Des Moines Union Railway Company in the city of Des Moines.

Des Moines, Northern and Western Railway
This company was incorporated under the general laws of Iowa through articles of consolidation, dated December 14, 1891, filed December 28, 1891. The records do not indicate that the company was controlled by any individual or corporation on February 8, 1895, the date of foreclosure sale, nor, that it then controlled any common-carrier corporation. The property of the company was operated by its own organization from January 1, 1892, to February 28, 1895.

The railroad owned, 146.95 miles, was a single-track, standard-gage, steam railroad in Iowa extending from Des Moines to Fonda, 111.98 miles, and from Clive to Boone, 34.97 miles, all of which had been acquired through consolidation of the Des Moines and Northwestern Railway Company and Des Moines and Northern Railway Company. The company had trackage rights over 0.75 mile of the road of the Des Moines Union Railway Company at Des Moines.

Des Moines and Northern Railway
This company was incorporated in Iowa, through articles of incorporation dated November 19, 1889, filed December 23, 1889. The records do not indicate by whom the company was controlled on December 28, 1891, the date of consolidation, nor, that it then controlled any common-carrier corporation.

The property of this company was operated by its own organization from date of acquirement to date of consolidation. Although this company conveyed its property to successor on December 28, 1891, it recorded the results of corporate operations in its books to December 31, 1891. The railroad operated by the company was a single-track, standard-gage, steam railroad, extending from Des Moines to Boone, Iowa, 41.75 miles. The owned road, 34.97 miles, extended from Clive to Boone, Iowa. The jointly owned road, 6.78 miles, extended from Clive to Des Moines. The company had trackage rights of 0.75 mile over the road owned by the Des Moines Union Railway Company at Des Moines. The 34.97 miles of road wholly owned and the 6.78 miles of road jointly owned by the company on the date of consolidation had been acquired through individuals who had acquired the property at foreclosure sale. It was formerly owned by the St. Louis, Des Moines and Northern Railway Company. At the time the road was acquired the track was all narrow gage, but it was changed to standard gage during this company's ownership.

St. Louis, Des Moines and Northern Railway — Predecessor of the Des Moines and Northern Railway
This company was incorporated May 21, 1881, in Iowa. No accounting records were obtained. Certain data indicated below were obtained from incomplete reports to the Board of Railroad Commissioners of the State of Iowa, documents on file, and the report of the St. Paul on its corporate history. The records do not indicate that the company was controlled by any individual or corporation on November 23, 1899, the date of foreclosure sale, nor, that it then controlled any common-carrier corporation.

The property of this company was operated by its own organization from completion to date of sale. The railroad operated by the company was a single-track, narrow-gage, steam railroad, located in the State of Iowa, aggregating 41.75 miles. The owned road, 34.97 miles, extended from Clive to Boone. The jointly owned road, 6.78 miles, extended from Clive to Des Moines. The company had trackage rights of 0.75 mile over the road owned by the Des Moines Union Railway Company at Des Moines.

The company originally constructed 49.25 miles of narrow-gage road as follows: Clive to Boone 34.97 miles, Clive to Waukee 7.50 miles, and Clive to Des Moines 6.78 miles. The 7.50 miles between Clive and Waukee and a one half interest in the 6.78 miles between Clive and Des Moines were sold to the Des Moines North Western Railway Company, leaving as owned on the date of sale 34.97 miles between Clive and Boone, and a one-half interest in 6.78 miles between Clive and Des Moines. Details are given in the accounting report on the St. Paul.

Des Moines and Northwestern Railway
This company was incorporated December 6, 1887, in Iowa. The records do not indicate that it was controlled by any individual or corporation on December 28, 1891, the date of consolidation, nor, that it then controlled any common-carrier corporation. The property of the company was operated by its own organization from May 19, 1888, to date of consolidation. Although this company did not acquire title to its original property until May 19, 1888, and it was conveyed to its successor on December 28, 1891, it recorded the results of corporate operations in its books for the period January 10, 1888, to December 31, 1891.

The owned railroad, 105.20 miles solely owned, extending from Clive to Fonda, and 6.78 miles jointly owned, extending from Clive to Des Moines, all in Iowa, had been acquired through individuals who purchased it at foreclosure sale. The road when acquired was narrow gage, but was later changed to standard gage. Trackage rights of 0.75 mile afforded access to Des Moines, Iowa.

Des Moines North Western Railway — Predecessor of the Des Moines and Northwestern Railway, Originally Named Des Moines, Adel and Western Rail Road
This company was originally incorporated as the Des Moines, Adel and Western Rail Road in Iowa on June 25, 1875. The name was changed on October 7, 1880. No accounting records were obtained. Certain information stated below was obtained from the minute book, the report of the St. Paul on its corporate history, and the records of The Wabash, St. Louis and Pacific Railway Company, a predecessor of the Wabash Railway Company. The records do not indicate that the company was controlled by any individual or corporation on May 19, 1888, the date of sale, nor that it then controlled any common-carrier corporation.

The property of the company was operated by its own organization from 1878 to February 28, 1881; by The Wabash, St. Louis and Pacific Railway Company from February 28, 1881, to January 10, 1888, and by the Des Moines and Northwestern Railway Company from the latter date to the date of sale. The owned railroad consisted of 105.20 miles of narrow-gage road solely owned, extending from Clive to Fonda and 6.78 miles jointly owned, extending from Clive to Des Moines, all in Iowa. Of the solely owned road, 7.50 miles and all of the jointly owned road had been acquired by purchase from the St. Louis, Des Moines and Northern Railway Company and 97.70 miles had been acquired by construction. Further details are given in the accounting report.

Des Moines Western Railway — Predecessor of the Des Moines North Western Railway
This company was incorporated August 25, 1871, in Iowa. No accounting records were obtained. The records do not indicate that the company was controlled by any individual or corporation on December 3, 1873, the date of fore closure sale, nor, that it then controlled any common-carrier corporation. This company did not own any completed railroad. The report of the St. Paul on its corporate history states that some grading had been done between Adel and Panora, Iowa, and that the property was sold at foreclosure sale to T. R. North, who acquired title by deeds dated December 3, 1873, and January 22, 1874. By deed dated April 17, 1878, T. R. North conveyed the property to the Des Moines North Western Railway Company.

The Central Illinois and Wisconsin Railway
This company was incorporated October 16, 1880, in Illinois. No accounting records were obtained. Certain information indicated hereinafter has been taken from the accounting records of the St. Paul. The records do not indicate whether the company was controlled by any individual or corporation on August 1, 1900, the date of sale, nor, whether it then controlled any common-carrier corporation. The property of this company was operated by the St. Paul from the date of completion to the date of sale, under lease agreement dated March 7, 1882.

The railroad owned, 15.15 miles, consisted of a single-track, standard-gage, steam railroad, extending from Rockton to Rockford, Ill., all constructed by the forces of the St. Paul in 1881. The company had trackage rights between Rockford and Davis Junction, Ill., 11.97 miles, over the road of the Chicago, Rockford & Northern Railroad Company, a predecessor of the Chicago, Burlington & Quincy Railroad Company.

The Western Union Railroad (of 1876)
This company was incorporated in Illinois and Wisconsin through articles of consolidation, dated December 29, 1875, filed in Illinois April 8, 1876. The accounting records of The Western Union Rail Road Company, a predecessor, opened June 30, 1869, the date of an internal financial reorganization, were continued as the records of this company. Therefore, this report includes the results of corporate operations of the above-named company for the period June 30, 1869, to April 8, 1876. The company was controlled by the St. Paul on date of sale through ownership of a majority of the outstanding capital stock. It did not then control any common-carrier corporation.

The property of this company was operated by its own organization from April 8, 1876, to July 1, 1879. From the latter date to September 1, 1900, the date of sale, was operated by the St. Paul. The company also operated that part of the St. Paul's road, from Sabula to Marion, Iowa, during the period from April 8, 1876, to July 1, 1879, for that company.

The owned railroad, 212.50 miles, consisted of a main line from Racine, Wis., to Rock Island Junction (East Moline), Ill., 189.66 miles, with branches from Eagle to Elkhorn, Wis., 16.59 miles, Watertown to Hampton Coal Mines, Ill., 4.25 miles, and one of 2 miles in length at Savanna, Ill., all of which had been acquired by purchase, 208.25 miles from The Western Union Rail Road Company and 4.25 miles from The Watertown Rail Road Company.

The Watertown Rail Road
This company was incorporated November 14, 1874, in Illinois. No accounting records were obtained. Certain data indicated below were obtained from the articles of incorporation of this company and the articles of consolidation and from the accounting records of The Western Union Rail Road Company. The records indicate that the company was controlled by The Western Union Rail Road Company on April 8, 1876, the date of consolidation, through ownership of its capital stock. It did not then control any common-carrier corporation.

The property of the company was operated by The Western Union Rail Road Company from October 1873 to date of consolidation. The railroad owned, 4.25 miles, was a single-track, standard-gage, steam railroad, extending from Watertown to Hampton Coal Mine, Ill., which had been acquired by construction, which was completed in October 1873.

The Western Union Rail Road
This company was incorporated in Illinois and Wisconsin through articles of consolidation, dated January 17, 1866, filed in Illinois January 27, 1866, and in Wisconsin February 3, 1866. The accounting records of this company were continued without separation as those of the successor company, from July 1, 1869, when a new set of books was opened. Therefore, this report contains only the results of corporate operations from date of incorporation to June 30, 1869.

The company was controlled on April 8, 1876, the date of consolidation, by the St. Paul. It did not control any common-carrier corporation. On June 30, 1869, the control passed to the St. Paul through Alexander Mitchell, and others, in an internal financial reorganization. The property of this company was operated by its own organization from January 17, 1866, to date of consolidation.

The owned railroad, 208.25 miles, consisted of a main line from Racine, Wis., to Rock Island Junction, (East Moline) Ill., 189.66 miles, with branches from Eagle to Elkhorn, Wis., 16.59 miles, and one of 2 miles at Savanna, Ill., located in Wisconsin and Illinois. Of the 208.25 miles owned, 75.59 miles had been acquired through consolidation from The Northern Illinois Rail Road Company: 114.07 miles, through purchase: 104.41 miles from the Racine and Mississippi Railroad Company and 9.66 miles from the Warsaw, Rock Island and Galena Railroad Company, and the remainder, 18.59 miles, by construction. Details are given in the accounting report on the St. Paul.

The Northern Illinois Rail Road
This company was incorporated in Illinois through articles of consolidation, dated June 13, 1865, filed same date. This company was controlled by Geo. A. Thomson, of the Racine and Mississippi Railroad Company, on January 17, 1866, the date of consolidation. The records did not indicate that it then controlled any common-carrier corporation. The property of this company was operated by Geo. A. Thomson in connection with the Racine and Mississippi Railroad Company under an implied lease from June 13, 1865, the date it was acquired, to date of consolidation. The owned railroad, 75.59 miles, consisted of a single-track, standard-gage, steam railroad, extending from Freeport to Port Byron, Ill., of which 46.58 miles had been acquired from The Northern Illinois Railroad Company and 29.01 miles by construction. Details are given in the accounting report on the St. Paul.

The Northern Illinois Railroad — Predecessor of The Northern Illinois Rail Road
This company was incorporated February 24, 1859, in Illinois. This company was controlled by Geo. A. Thomson, and others, of the Racine and Mississippi Railroad Company, on June 13, 1865, the date of consolidation. It did not control any common-carrier corporation. The property of this company was operated by Geo. A. Thomson, as agent for trustees of the bondholders, in connection with the Racine and Mississippi Railroad Company from October 1, 1861, to date of consolidation, under an implied lease. The railroad owned, 46.58 miles, consisted of a single-track, standard-gage, steam railroad, extending from Freeport to Thomson, Ill., which had been acquired by construction. Further details are given in the accounting report.

The Mississippi Railroad — Predecessor of The Northern Illinois Rail Road
This company was incorporated February 15, 1865 , in Illinois. The records indicate this company was controlled by interests affiliated with The Northern Illinois Rail Road Company on June 13, 1865 , the date of consolidation. On date of consolidation its property consisted of a partly graded railroad between Savanna and Port Byron, Ill. The authorized capital stock was $ 500,000 par value, shares $ 100 each. Of this, $ 164,725 was issued for cash at par value and the proceeds paid to The Northern Illinois Rail Road Company in payment of construction advances. The money outlay for original construction at date of consolidation was stated in the records as $ 164,725.

The Western Union Railroad (of 1866)
This company was incorporated in Illinois through articles of consolidation, dated January 16, 1866, filed in Illinois January 27, 1866, and in Wisconsin January 31, 1866. No accounting records were obtained. The records of The Western Union Rail Road Company indicate that this company was controlled on January 27, 1866, the date of consolidation, by trustees of the first-mortgage bondholders of the Racine and Mississippi Railroad Company. The company did not construct or operate any railroad.

The Western Union Railroad (of Illinois) — Predecessor of The Western Union Railroad (of 1866)
This company was incorporated February 21, 1863, in Illinois. No accounting records were obtained. The records of the successor indicate that this company was controlled by trustees of the first-mortgage bondholders of the Racine and Mississippi Railroad Company, on January 27, 1866, the date of consolidation. It did not then control any common-carrier corporation. The company did not construct or operate any railroad.

The Western Union Railroad (of Wisconsin) — Predecessor of The Western Union Railroad (of 1866)
This company was incorporated April 1, 1863, in Wisconsin. No accounting records were obtained. The records of the successor indicate that this company was controlled by trustees of the first-mortgage bondholders of the Racine and Mississippi Railroad Company on January 27, 1866, the date of consolidation. It did not then control any common-carrier corporation. The company did not construct or operate any railroad.

Racine and Mississippi Railroad
This company was incorporated in Illinois through articles of consolidation, dated January 23, 1856, filed March 29, 1856. The records indicate that this company was controlled by trustees of the first-mortgage bondholders on August 25, 1868, the date of foreclosure sale. It did not then control any common-carrier corporation. The accounting records of the Racine, Jamesville and Mississippi Rail Road Company and its successor, the Racine and Mississippi Rail Road Company, were continued without separation as the records of the Racine and Mississippi Railroad Company. The report on this company, therefore, includes data with respect to the financial dealings, corporate operations, and investments of those companies.

The property of this company was operated by its own organization from March 29, 1856, to May 10, 1859, and by George A. Thomson, as agent for trustees of the first-mortgage bondholders, from May 10, 1859, to January 20, 1868. From January 20, 1866, to date of sale, it was operated under informal lease by The Western Union Rail Road Company. The railroad owned 104.41 miles, consisting of a single-track, standard-gage, steam railroad, extending from Racine, Wis., to Freeport, Ill., of which 69.31 miles had been acquired through consolidation from the Racine and Mississippi Rail Road Company and 35.10 miles by construction. Further details are given in the accounting report on the St. Paul.

Racine and Mississippi Rail Road — Predecessor of the Racine and Mississippi Railroad
This company was incorporated in Illinois and Wisconsin through articles of consolidation, dated February 23, 1854, ratified in Illinois February 14, 1855, and in Wisconsin March 31, 1855. The accounting records of this company were continued without separation as the records of the Racine and Mississippi Railroad Company, see report on that company. The records do not indicate whether this company was controlled by any individual or corporation on March 29, 1856, the date of consolidation, nor, whether it controlled any common-carrier corporation.

The property owned by the company had been operated by its own organization from 1855 to the date of consolidation, but the operating results are included in the income account of the successor corporation. The railroad owned, 69.31 miles, consisted of a single-track, standard-gage, steam railroad, extending from Racine to Beloit, Wis., which had been acquired by construction. Details are given in the accounting report on the St. Paul.

Racine, Jamesville and Mississippi Rail Road — Predecessor of the Racine and Mississippi Rail Road
This company was incorporated April 17, 1852, in Wisconsin. The accounting records of this company were continued without separation as the records of the Racine and Mississippi Rail Road Company and the Racine and Mississippi Railroad Company, see report on those companies. The records do not indicate whether this company was controlled by any individual or corporation on March 31, 1855, the date of consolidation, nor whether it then controlled any common-carrier corporation. The company did not own any completed railroad. It began the construction of a single-track, standard-gage, steam railroad from Racine to Beloit, Wis.

The Rockton and Freeport Rail Road — Predecessor of the Racine and Mississippi Rail Road
This company was incorporated February 10, 1853, in Illinois. No accounting records were obtained. The minute book and secretary's files do not indicate whether the company was controlled by any individual or corporation on March 31, 1855, the date of consolidation, nor whether it then controlled any common-carrier corporation. This company did not own or operate any railroad on date of consolidation.

Savanna Branch Railroad — Predecessor of the Racine and Mississippi Railroad
This company was incorporated February 12, 1851, in Illinois. The records do not indicate whether this company was controlled by any individual or corporation on March 29, 1856, the date of consolidation, nor whether it then controlled any common-carrier corporation. The company did not own any completed railroad on date of consolidation. Some preliminary expenditures had been made on a single-track, standard-gage, steam railroad to extend from Savanna to Freeport, Ill. Details are given in the accounting report on the St. Paul.

Warsaw, Rock Island and Galena Railroad, Formerly Named Warsaw and Rockford Railroad
This company was originally incorporated as the Warsaw and Rockford Railroad Company in Illinois on February 10, 1849. The name was changed on February 21, 1863. No accounting records were obtained. Certain data indicated below were obtained from the files of the secretary of the company. The records do not indicate whether the company was controlled by any individual or corporation on July 13, 1872, the date of sale, nor whether it then controlled any common-carrier corporation.

The property of this company was operated by its own organization from 1863 to date of sale. The railroad owned, 9.66 miles, consisted of a single-track, standard-gage, steam railroad, extending from Port Byron to Rock Island Junction (East Moline), Ill., acquired by construction. Details are given in the accounting report on the St. Paul.

The Nauvoo and Warsaw Railroad — Predecessor of the Warsaw and Rockford Railroad
This company was incorporated February 24, 1847, in Illinois. No accounting records were obtained. The records do not indicate whether the company was controlled by any individual or corporation on February 10, 1849, the date of its demise, nor whether it then controlled any common-carrier corporation. This company did not own any railroad.

The Milwaukee and Superior Railway, Originally Named Milwaukee, Menomonee Falls and Western Railway
This company was originally incorporated as the Milwaukee, Menomonee Falls and Western Railway Company in Wisconsin on October 26, 1885. The name was changed on December 11, 1891. There were no accounting records of this company for the period from the date of organization to February 1, 1892. Certain information indicated hereafter pertaining to that period has been taken from the records of the St. Paul.

The company was controlled by the St. Paul on October 18, 1900, the date of sale, through ownership of the entire outstanding capital stock. It did not then control any common-carrier corporation.

The property of this company was operated by its own organization from the date of completion to date of sale. The railroad owned 20.08 miles, consisting of a single-track, standard-gage, steam railroad, extending from Granville to North Lake, Wis., acquired by construction with company forces. Details are given in the accounting report on the St. Paul.

Cook, Lake and McHenry Counties Railway
This company was incorporated April 25, 1899, in Illinois. No accounting records were obtained. Certain data given below were obtained from the minute book and from the records of the St. Paul.

The company was controlled on July 19, 1901, the date of sale, by the St. Paul through ownership of its outstanding capital stock. It did not then control any common-carrier corporation.

The property of this company was operated by the St. Paul from the date it was completed, in 1900, to date of sale. The railroad owned, 29.33 miles, consisted of a single-track, standard-gage, steam railroad, extending from Libertyville, Ill., to the Illinois-Wisconsin State line, constructed for the company by the forces of the St. Paul.

Janesville & Southeastern Railway
This company was incorporated March 1, 1900, in Wisconsin. No accounting records were obtained. Certain data given below were obtained from the minute book and from the records of the St. Paul. The company was controlled on September 18, 1901, the date of sale, by the St. Paul through ownership of the outstanding capital stock. It did not then control any common-carrier corporation.

The property of the company was operated by the St. Paul from the date completed, about June 1901, to date conveyed to that company. No written agreement covering the operation was available. The railroad owned, 34.57 miles, consisted of a single-track, standard-gage, steam railroad, extending from Janesville, Wis., to the Wisconsin-Illinois State line, which had been constructed for the company by the forces of the St. Paul.

Maquoketa, Hurstville & Dubuque Rail Road
This company was incorporated August 3, 1888, in Iowa. No accounting records were obtained. Certain data indicated below were obtained from the minute book and from the records of the St. Paul. The company was controlled on June 15, 1903, the date of sale, by the St. Paul through ownership of a majority of the capital stock. It did not then control any common-carrier corporation.

The property of this company was operated by the St. Paul under agreement from date of completion to date of sale. The railroad owned, 2.23 miles, consisted of a single-track, standard-gage, steam railroad, extending from Maquoketa to Hurstville, Iowa, which had been constructed for the company by forces of the St. Paul under agreement dated September 1, 1888.

The La Crosse and Onalaska Short Line Rail Road
This company was incorporated May 22, 1888, in Wisconsin. No accounting records were obtained. Certain data indicated below were obtained from the minute book and from the records of the St. Paul. The company was controlled on July 10, 1903, the date of sale, by the St. Paul through ownership of the outstanding capital stock. It did not then control any common-carrier corporation.

The property of this company was operated by the St. Paul from the date completed to the date of sale. The railroad owned, 3.76 miles, consisted of a single-track, standard-gage, steam railroad, extending from North La Crosse to Onalaska, Wis., which had been acquired by construction. The construction work was performed by James Canterbury, an independent contractor, and by the forces of the St. Paul during the period from September 1883 to December 1886.

Markeson & Brandon Railway
This company was incorporated August 9, 1882, in Wisconsin. No accounting records were obtained. Certain data indicated below were obtained from its minute book and from the records of the St. Paul. The company was controlled on July 10, 1903, the date of sale, by the St. Paul through ownership of its outstanding capital stock. It did not then control any common-carrier corporation.

The property of this company was operated by the St. Paul from the date it was completed to the date of sale. The railroad owned, 11.49 miles, consisted of a single-track, standard-gage, steam railroad, extending from Brandon to Markesan, Wis., which had been constructed for the company by the forces of the St. Paul during the period from July 1882 to November 1884.

Ashdale & Thomson Railway
This company was incorporated January 30, 1902, in Illinois. No accounting records were obtained. Certain data indicated below were obtained from its minute book and from the records of the St. Paul. The company was controlled on July 20, 1903, the date of sale, by the St. Paul through ownership of its outstanding capital stock. It did not then control any common-carrier corporation.

The property of the company was operated by the St. Paul from date completed to date of sale. The railroad owned, 15.10 miles, consisted of a single-track, standard-gage, steam railroad, extending from Ashdale to Ebner, Ill., which had been constructed for the company by the forces of the St. Paul during the period from January 1902 to June 1903.

Wisconsin Western Railroad
This company was incorporated November 21, 1899, in Wisconsin. No accounting records were obtained. Certain data indicated below were obtained from its minute book, from annual reports to this Commission, and from court record files of the St. Paul.

The company was controlled on January 26, 1909, the date of sale, by the St. Paul through ownership of its entire outstanding capital stock. It did not then control any common-carrier corporation. With the exception of a period of three days of operation by a receiver, from November 25 to 27, 1899, the property of this company was operated by its own organization from November 28, 1899, to June 30, 1907. It was operated under an implied lease by the St. Paul from the latter date to date of sale.

The railroad owned, 51.97 miles, consisted of a single-track, standard-gage railroad, extending from Wauzeka to LaFarge, Wis., which had been acquired by purchase at foreclosure from the Kickapoo Valley and Northern Railway Company.

Kickapoo Valley and Northern Railway
This company was incorporated June 4, 1889, in Wisconsin. No accounting records were obtained. Certain data indicated below were obtained from annual reports to this commission, and from court record files of the St. Paul. The records do not indicate that the company was controlled by any individual or corporation on November 25, 1899, the date of foreclosure sale, nor that it then controlled any common-carrier corporation.

The property of this company was operated by its own organization from 1892, the date opened for operation, to March 3, 1894, and by a receiver from the latter date to date of sale. The railroad owned, 51.97 miles, consisted of a single-track, standard-gage, steam railroad, extending from Wauzeka to La Farge, Wis., acquired by construction. Details are given in the accounting report on the St. Paul.

White River Valley Railway
This company was incorporated January 19, 1905, in South Dakota. No accounting records were obtained. Certain data indicated below were obtained from the minute book and from the records of the St. Paul. The company was controlled on April 18, 1910, the date of sale, by the St. Paul through ownership of its entire outstanding stock. It did not then control any common-carrier corporation.

The property of this company was operated by the St. Paul from date of completion to date of sale. The railroad owned, 219.25 miles, consisted of a single-track, standard-gage, steam railroad, extending from Chamberlain to Rapid City, S. Dak., which had been constructed for the company by the St. Paul.

Duluth, St. Cloud, Glencoe & Mankato Railway, Formerly Named The Duluth, Glencoe and Southwestern Railway
This company was originally incorporated as The Duluth, Glencoe and Southwestern Railway Company in Minnesota on April 19, 1888. The name was changed on January 10, 1900. No accounting records were obtained. Certain data indicated below were obtained from its minute book and from the records of the St. Paul.

The company was controlled on December 21, 1910, the date of sale, by the St. Paul through ownership of its outstanding capital stock. It did not then control any common-carrier corporation. The property of this company was operated by the St. Paul from December 1, 1907, date placed in operation, to date of sale.

The railroad owned, 39.46 miles, consisted of a single-track, standard-gage, steam railroad extending from Albert Lea to St. Clair, Minn., which had been acquired by construction. Details are given in the accounting report on the St. Paul.

Chicago, Milwaukee and Puget Sound Railway, Formerly Named Chicago, Milwaukee and St. Paul Railway Company of Washington, Originally Named The Pacific Railway
Introductory

This company was originally incorporated as The Pacific Railway Company in Washington on October 13, 1905. The name was changed on January 10, 1906, and again changed on January 2, 1909.

The company was controlled by the St. Paul on December 24, 1912, the date of sale, through ownership of the entire outstanding capital stock. This company then controlled, through 100 percent ownership of the outstanding capital stock: Bellingham and Northern Railway Company, Big Blackfoot Railway Company, Continental Telegraph Company, Gallatin Valley Railway Company, Milwaukee Terminal Railway Company, and the Tacoma Eastern Railroad Company. It also controlled the White Sulphur Springs & Yellowstone Park Railway Company through ownership of 51 percent of the capital stock.

The property of this company was operated by its own organization during its entire corporate existence. Although its property was conveyed to the St. Paul by deed dated December 24, 1912, the results of corporate operations to December 31, 1912, are recorded in the books of the Chicago, Milwaukee and Puget Sound Railway Company.

The railroad wholly owned on date of sale was a single-track, standard-gage, steam railroad, located in South Dakota, North Dakota, Montana, Idaho, and Washington, and aggregated 2,053.10 miles, of which 1,362.27 miles was main line, extending from Mobridge, S.Dak., to Seattle, Wash., and from Tacoma Junction to Tacoma, Wash. The several branch lines aggregated 690.83 miles. The company also owned jointly with the Oregon-Washington Railroad & Navigation Company 26.30 miles of railroad extending from Tacoma Junction to Black River Junction, Wash., and 44.49 miles of railroad extending from Helsing Junction to Hoquiam, Wash.

In addition, the company used on date of sale 133.35 miles of road of other companies under trackage arrangements, as detailed in the accounting report.

Development of Fixed Physical Property

Of the 2,053.10 miles wholly owned on date of sale, 1,142.43 miles had been acquired by purchase from Montana Railroad Company 160.49 miles, Seattle Southeastern Railway Company 2.30 miles, Idaho and Western Railway Company 45.35 miles, Chicago, Milwaukee and St. Paul Railway Company of Montana 641.90 miles, Chicago, Milwaukee and St. Paul Railway Company of Idaho 98.10 miles, and the Chicago, Milwaukee and St. Paul Railway Company of South Dakota 194.29 miles. The remainder, 910.67 miles, was acquired by construction, as detailed in the accounting report on the St. Paul.

Chicago, Milwaukee and St. Paul Railway Company of South Dakota
This company was incorporated August 25, 1906, in South Dakota. This company was controlled on December 26, 1908, the date of sale, by the St. Paul through ownership of its capital stock. It did not then control any common-carrier corporation. The property was not placed in operation prior to date of sale. The railroad owned 194.29 miles consisting of a single-track, standard-gage, steam railroad located in North Dakota and South Dakota, extending from the east bank of the Missouri River in South Dakota to the North Dakota-Montana State line which had been acquired by construction. Details are given in the accounting report.

Chicago, Milwaukee and St. Paul Railway Company of Montana
This company was incorporated December 18, 1905, in Montana. This company was controlled on December 26, 1908, the date of sale, by the St. Paul through ownership of its capital stock. It did not then control any common-carrier corporation. The property was not placed in operation prior to date of sale. The railroad owned, 641.90 miles, consisted of a single-track, standard-gage, steam railroad in Montana, extending from the North Dakota State line to the Idaho State line, which has been acquired by construction. Details are given in the accounting report.

Chicago, Milwaukee and St. Paul Railway Company of Idaho
This company was incorporated January 23, 1906, in Idaho. The company was controlled on December 26, 1908, the date of sale, by the St. Paul through ownership of its capital stock. It did not then control any common-carrier corporation. The property was not placed in operation prior to date of sale. The railroad owned, 98.10 miles, consisted of a single-track, standard-gage, steam railroad in Idaho, extending from the Montana State line to the Washington State line, which had been acquired by construction. Details are given in the accounting report on the St. Paul.

Priest Rapids Railway
This company was incorporated July 11, 1907, in Washington. No accounting records were obtained. Certain data indicated below were obtained from the minute book and from the records of the Chicago, Milwaukee and Puget Sound Railway Company and those of the St. Paul.

The company was controlled on January 8, 1910, the date of sale, by the Chicago, Milwaukee and Puget Sound Railway Company through ownership of its capital stock. It did not then control any common-carrier corporation.

The company did not own any completed railroad on date of sale. Surveys had been made and some construction done on its proposed railroad from Hanford, Wash., northerly along the Columbia River.

Montana Railroad
This company was incorporated September 4, 1894, in Montana. The company was controlled on January 15, 1910, the date of sale, by the St. Paul through ownership of its entire outstanding capital stock. It did not then control any common-carrier corporation.

The property of this company was operated by its own organization from the date the first section of its road was opened for operation, August 1, 1897, until December 31, 1909. While the deed conveying the property of this company to the Chicago, Milwaukee and Puget Sound Railway Company was dated January 15, 1910, possession was taken on January 1, 1910.

The railroad owned, 160.49 miles, consisted of a single-track, standard-gage, steam railroad, all in Montana, which had been acquired by construction. The main line extended from Lombard to Harlowton, with two branches, one extending from Harlowton to Lewistown and one from Ringling to Dorsey. Details with respect to construction are given in the accounting report on the St. Paul.

Seattle Southeastern Railway
This company was incorporated September 13, 1906, in Washington. No accounting records were obtained. Certain data indicated below were obtained from the report of the St. Paul on its corporate history. The records do not indicate whether the company was controlled by any individual or corporation on February 13, 1912, the date of sale, nor, whether it then controlled any common-carrier corporation.

The property of the company was operated by its own organization from the date put in operation to date of sale. The company owned 2.30 miles of single-track, standard-gage, steam railroad extending from Bagley Junction to Seleck[sic - Selleck], Wash., which had been acquired by construction during 1909–1910.

Idaho and Western Railway
This company was incorporated December 27, 1909, in Idaho. The company was controlled on December 6, 1912, the date of sale, by the Chicago, Milwaukee and Puget Sound Railway Company through ownership of its capital stock. It did not then control any common-carrier corporation. That portion of the property of this company between Gibbs and Coeur d'Alene, Idaho, was operated by its own organization from the date put in operation to date of sale. The remainder of the road had not been placed in operation.

The railroad owned, 45.35 miles of single-track, standard-gage, steam railroad, consisted of two lines, one extending from Plummer, Idaho, to Manito, Wash., the other extending from Dishman, Wash., to Coeur d'Alene, Idaho. The entire road had been acquired by construction, as detailed in the accounting report on the St. Paul.

Oglesby & Granville Railway
This company was incorporated September 14, 1905, in Illinois. The company was controlled by the St. Paul on December 15, 1913, the date of sale, through ownership of the entire outstanding capital stock. It did not then control any common-carrier corporation. The property of this company was operated by the St. Paul from the date of completion until date of sale. The railroad owned on date of sale, 10.50 miles, consisted of a single-track, standard-gage, steam railroad, extending from Oglesby to Granville, Ill., which had been acquired by construction. Details are given in the accounting report on the St. Paul.

Rochelle & Southern Railway
This company was incorporated October 1, 1902, in Illinois. No accounting records were obtained. Certain information indicated below has been obtained from the minute book, and from the accounting records of the St. Paul. The company was controlled by the St. Paul on December 15, 1913, the date of sale, through ownership of its entire outstanding capital stock. It did not control any common-carrier corporation. The property was operated by the St. Paul from date of completion, in 1903, to date of sale.

The railroad owned, 39.75 miles, consisted of a single-track, standard-gage, steam railroad extending from Seward to Seatonville, Ill. In addition, the company had trackage rights of 40.22 miles over railroads owned by other companies. Of the 39.75 miles of road owned it had acquired 3.13 miles from the Bureau County Mineral Railway Company and the remainder, 36.62 miles, had been acquired by construction.

Bureau County Mineral Railway
This company was incorporated September 12, 1904, in Illinois. No accounting records were obtained. Certain data indicated below were obtained from the minute book, and from the records of the St. Paul. The company was controlled on January 29, 1909, the date of sale, by the St. Paul through ownership of the entire outstanding capital stock. It did not then control any common-carrier corporation. The property was operated by the St. Paul from the date construction was completed in 1904 to date of sale. The railroad owned, 3.13 miles, consisted of a single-track, standard-gage, steam railroad, extending from Ladd to Cherry, Ill., which had been acquired by construction.

Great Falls Terminal Railway
This company was incorporated July 3, 1912, in Montana. The company was controlled on November 5, 1914, the date of sale, by the St. Paul through ownership of its outstanding capital stock. It did not then control any common-carrier corporation. While the report on its corporate history states that this company operated its property from date construction was completed in March 1914 to date of sale, it did not maintain any income or profit and loss accounts. The railroad owned amounted to 3.45 miles of single-track, standard-gage railroad, located in the city of Great Falls, Mont., which had been acquired by construction. Details are given in the accounting report on the St. Paul.

Idaho & Washington Northern Railroad
This company was incorporated April 1, 1907, in Idaho. The company was controlled on January 25, 1916, the date of sale, by the St. Paul through ownership of a majority of the outstanding capital stock. It did not then control any common-carrier corporation. The property was operated by its own organization from the dates the various sections of road were completed, beginning July 1, 1908, to date of sale.

The railroad owned was a single-track, standard-gage, steam railroad, located in Washington and Idaho, aggregating 111.74 miles. The main line extended from McGuires, Idaho, to Metaline Falls, Wash., 105.20 miles, and a branch line from Coleman to Clagstone Junction, Idaho, 6.54 miles, all of which had been acquired by construction, as detailed in the accounting report on the St. Paul.

This company had trackage rights over the line of the St. Paul between McGuires, Idaho, and Spokane, Wash., about 18 miles.

Big Blackfoot Railway
This company was incorporated January 13, 1910, in Montana. The company was controlled by the St. Paul on December 30, 1916, the date of sale, through ownership of the entire outstanding capital stock. It did not then control any common-carrier corporation. The property of this company was operated by its own organization from date constructed, July 1, 1913, to date of sale. The railroad operated by the company amounted to 22 miles of single track, standard-gage, steam railroad in Montana. The owned mileage, 11.47 miles, extended from Bonner to Blackfoot Junction, which had been acquired by construction, as detailed in the accounting report on the St. Paul. The mileage operated under lease, 10.53 miles, extended from McNamara Junction to Potomac. In addition, the company had about 22 miles of graded road which was not completed for operation.