Wikipedia:WikiProject Trains/ICC valuations/Detroit, Grand Haven and Milwaukee Railway

Interstate Commerce Commission, Valuation Reports, Volume 143

Location and General Description of Property
The railroad of Detroit, Grand Haven and Milwaukee Railway Company, herein called the Detroit, Grand Haven and Milwaukee, is a single-track, standard-gauge, steam railroad, situated entirely within the State of Michigan, extending from Detroit to Grand Haven, a distance of 188.253 miles. The Detroit, Grand Haven and Milwaukee wholly owns and uses 322.720 miles of all tracks, jointly owns and uses 0.684 mile of all tracks, and uses but does not own 9.813 miles of all tracks, which are classified in the trackage table in Appendix 1.

Introductory
The Detroit, Grand Haven and Milwaukee is a corporation of the State of Michigan, having its principal office at Detroit, Mich. Although it did not acquire title to its original property until November 9, 1878, it commenced recording the results of operations of the property in its books on October 19, 1878. The accounting data in this report, therefore, cover the period from October 19, 1878. This company is controlled by the carrier, through ownership of the entire outstanding capital stock. On the other hand, The Grand Haven controls the Grand Trunk-Milwaukee Car Ferry Company through ownership of the entire outstanding capital stock. The property has been operated by the company's own organization during its entire life.

Corporate History
Detroit, Grand Haven and Milwaukee was incorporated November 9, 1878, under the general laws of the State of Michigan, for the purpose of acquiring the property, rights, and franchises of the Detroit and Milwaukee Railroad Company, which was done. The company, itself, together with its predecessors, total five different corporations, and comprise the line of corporate succession culminating in the Detroit, Grand Haven and Milwaukee as at present constituted. The following chart shows the names of the corporations, the respective dates of incorporation, and for each predecessor the date of succession, the immediately succeeding corporation, and the manner of succession. Reference to each of these corporations is made in the last column by its respective number shown in the first column.

Development of Fixed Physical Property
The owned mileage, 188.253 miles, was all acquired by purchase from the purchasing committee of the Detroit and Milwaukee Railroad Company. Of the four predecessor corporations, the Detroit and Milwaukee Railroad Company did not construct any road or other common-carrier property. The property constructed by the remaining corporations and the years when the various portions of the line were constructed are indicated in the following table:

Leased Railway Property
The Detroit, Grand Haven and Milwaukee uses on date of valuation property owned by other companies to the extent indicated in the statement below. The rental accrued and charged to income for the year ending on date of valuation has not been ascertained, but the description of the property and the period and terms of use are as follows:
 * Solely used, but not owned, leased from—
 * Grand Rapids Terminal, entire property; term 10 years from Oct. 27, 1908; stipulated payment equal to 4 per cent per annum on the cost of the property, plus all taxes, assessments, and maintenance. No rental has been accrued and paid except for year ended Dec. 31, 1916, when $24,366.70 was accrued and charged to income account.
 * Grand Trunk Western, yard tracks and sidings, 3.916 miles, at Durand, Mich. The period and terms of use and rental have not been ascertained.
 * The New York Central Railroad Company, tracks 0.064 mile of main track and 1.539 miles of yard tracks and sidings at Detroit, Mich. The period and terms of use and rental have not been ascertained.

In addition, the Detroit, Grand Haven and Milwaukee uses on date of valuation 36 locomotives, 4 freight-train cars, and 3 units of work equipment owned by the carrier; also 51 locomotives owned by the Grand Trunk Western. The carrier and the Grand Trunk Western use 4 locomotives and 1 locomotive, respectively, owned by the Detroit, Grand Haven and Milwaukee. The terms governing the use of the above equipment have not been ascertained.

Under agreement dated April 20, 1883, the Detroit, Grand Haven and Milwaukee jointly uses with The Western Union Telegraph Company 189.24 miles of pole line and one wire located on the right of way of the Detroit, Grand Haven and Milwaukee between Detroit and Grand Haven, Mich., which has been inventoried as jointly owned by the two companies, although the ownership of the property is in dispute. The terms and termination of the agreement were not obtained.

There are other facilities of minor importance, such as interlockers, yard tracks, and sidings, in which the company grants or receives joint use, that are not listed in this chapter.

Lessor Company
Grand Rapids Terminal

Detroit and Milwaukee Railroad Company
This company was incorporated October 18, 1860, under the general laws of the State of Michigan. The records of the company are incomplete for the period October, 1860, to January, 1866. For that reason only partial information can be given from its accounts regarding its financial dealings or investments. The results of corporate operations for the period October, 1860, to January, 1866, were obtained from statements of the company on file. The property was sold on September 4, 1878, to Samuel Barker and others, and was conveyed to them by deed dated October 10, 1878, but the accounts of the company for the results of corporate operations were continued to October 18, 1878, and other accounts were not closed until that date. The accounting data in this report, therefore, cover the period to October 18, 1878. The company was controlled on September 4, 1878, the date of sale, by The Great Western Railway Company of Canada, through ownership of the entire outstanding capital stock. On the other hand, the records reviewed do not indicate that this company controlled any common-carrier corporation. The property of this company was operated by its own organization from the date of its organization until the receivership, April 15, 1875. From that date the property was operated by receivers until it was surrendered to the Detroit, Grand Haven and Milwaukee, October 18, 1878. The railroad operated by the receivers on the date of sale amounted to 189.73 miles, all owned by the company. It consisted of a single-track, standard-gauge, steam railroad wholly within the State of Michigan and extended from Detroit to Grand Haven, Mich. It had been acquired by purchase from the Detroit and Milwaukee Railway.

Detroit and Milwaukee Railway Company
This company was incorporated under the general laws of the State of Michigan through articles of consolidation, dated April 21, 1855, filed May 12, 1855. None of the accounting records of the company were obtained. Therefore, no information can be given from its accounts regarding financial dealings, corporate operations, or investments. However, certain data indicated below were taken from its minutes and other documents on file. The company was controlled on October 4, 1860, the date of sale, by The Great Western Railway Company of Canada, through ownership of the entire outstanding capital stock. On the other hand, the records reviewed do not indicate that this company controlled any common-carrier corporation.

The property of this company was operated by its own organization from the date the company acquired its original property until the receivership, April 10, 1860. From that date until date of sale it was operated by a receiver. The railroad operated by the receiver on date of sale amounted to 189.73 miles, all owned by the company. It consisted of a single-track, standard-gauge, steam railroad, extending from Detroit to Grand Haven, Mich. Of this mileage, it had acquired 26.40 miles by consolidation from the Detroit and Pontiac Rail Road Company and 24.40 miles of partially constructed road by consolidation from the Oakland and Ottawa Rail Road Company. The company completed the construction of the 24.40 miles of road referred to and constructed 138.93 miles of additional railroad. Details with respect to the construction of this property are given in the chapter on development of fixed physical property in the report on the Grand Haven.

Oakland and Ottawa Rail Road Company
This company was incorporated April 3, 1848, under special act of the State of Michigan. No accounting records of this company were obtained. Therefore, no information can be given from its accounts regarding financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from its minute book and other documents on file. The company was controlled on April 21, 1855, the date of consolidation, by Henry N. Walker, and others, through ownership of a majority of the outstanding capital stock. On the other hand, the records reviewed do not indicate that this company controlled any common-carrier corporation.

The railroad operated by the company was a single-track, steam railroad that extended from Detroit to Pontiac, Mich., and aggregated 26.40 miles. The owned mileage consisted of a partially constructed line from Pontiac to Fentonville, Mich., 24.40 miles. It operated under lease 26.40 miles of road owned by the Detroit and Pontiac Rail Road Company. The lease was dated January 1, 1855, and covered a term of 999 years. The 24.40 miles of partially constructed road had been acquired by construction during 1853 and 1854. Construction work was performed by Sebre Howard, Charles Howard, and Nelson P. Stewart, none of whom appears to have been affiliated with the company.

Detroit and Pontiac Rail Road Company
This company was incorporated March 7, 1834, under special act of the State of Michigan. No accounting records of this company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from its minute book and other documents on file. This company was controlled on April 21, 1855, the date of consolidation, by Henry N. Walker and others, through ownership of a majority of the outstanding capital stock. On the other hand, the records reviewed do not indicate that the company controlled any common-carrier corporation.

The property of this company was operated by its own organization from the dates the respective sections were opened for operation to January 1, 1855. From that date until the date of consolidation, it was operated by the Oakland and Ottawa Rail Road Company, under a lease covering a period of 999 years. The railroad consisted of a single-track, standard-gauge, steam railroad, wholly within the State of Michigan, and extending from Detroit to Pontiac, Mich., 26.40 miles. It had been acquired by construction as detailed in the chapter on development of fixed physical property in the report on the Detroit, Grand Haven and Milwaukee.