Wikipedia:WikiProject Trains/ICC valuations/Duluth, Rainy Lake and Winnipeg Railway

Interstate Commerce Commission, Valuation Reports, Volume 141

Location and General Description of Property
The railroad of the Duluth, Rainy Lake & Winnipeg Railway Company, herein called the Duluth, Rainy Lake & Winnipeg, which is leased to and operated by the carrier, is a single-track line located in Minnesota and extending from a point about 4 miles north of Virginia to the International boundary line between the United States and the Dominion of Canada, near Ranier, a distance of 87.748 miles.

Introductory
The Duluth, Rainy Lake & Winnipeg is a corporation of the State of Minnesota, having its principal office at Toronto, Canada. The available accounting records of the company are incomplete, as no entries were recorded in them subsequently to June 30, 1913. Therefore, only partial information can be given from its accounts regarding financial dealings, corporate operations, or investments. It is controlled by the carrier [Duluth, Winnipeg & Pacific Railway], through ownership of the entire outstanding capital stock. On the other hand the records do not indicate that this company, itself, controls any common-carrier corporation. The property of the company was operated by its own organization from the date it was put in operation, January 1, 1908, to June 30, 1912. From July 1, 1912, to date of valuation it has been operated by the carrier under agreement.

Corporate History
The Duluth, Rainy Lake & Winnipeg was originally incorporated as the Duluth, Virginia and Rainy Lake Railway Company in the State of Minnesota on July 31, 1901. The name was changed on December 18, 1905, to Duluth, Rainy Lake & Winnipeg Railway Company, the present designation. It was incorporated for the purpose of constructing and operating a railroad from Virginia, Minn., to the northern boundary line of Minnesota. The date of its organization has not been ascertainable from the records reviewed.

Development of Fixed Physical Property
The owned mileage of the Duluth, Rainy Lake & Winnipeg, 87.748 miles, was constructed for it by the Minnesota Land and Construction Company, an affiliated corporation. The years when the two portions of the line were constructed are indicated in the following statement. The entire line was opened for operation on January 1, 1908.

Leased Railway Property
The entire property of the Duluth, Rainy Lake & Winnipeg is leased to the carrier for an indefinite period under agreement dated January 1, 1913. The terms of the agreement and the rentals accrued for the year ending on date of valuation are given in the chapter on leased railway property in the report on the carrier.