Wikipedia:WikiProject Trains/ICC valuations/Montana Eastern Railway

Interstate Commerce Commission, Valuation Reports, Volume 133

Location and General Description of Property
The only trackage used solely by the Great Northern under agreement (formal lease executed July 1, 1915) is the railroad of Montana Eastern Railway Company, herein called the Montana Eastern, which is solely operated by the Great Northern. This is a single-track line extending southerly from Snowden to Fairview, Mont., with two branches. One branch extends from Fairview, Mont., easterly to Watford, N. Dak., and the other extends southwesterly from Fairview to Sidney, Mont., and from Newlon to Lambert, Mont. The portion between Sidney and Newlon is not owned, but the tracks of Northern Pacific Railway Company are used between these points by trackage rights, making one continuously operated branch between Fairview and Lambert. The total length of line owned by the Montana Eastern is 83.067 miles. The Montana Eastern also owns yard and side tracks shown in the trackage table in Appendix 1.

Introductory
The Montana Eastern is a Montana corporation. Its principal office is at Lewistown, Mont. It has been controlled by the Great Northern from the date of its incorporation.

Corporate History
The Montana Eastern was incorporated under the general laws of Montana on November 23, 1912, for a period of 40 years. The articles of incorporation were also filed in North Dakota on December 30, 1912. Its stated purpose was to acquire, construct, maintain, and operate a railroad beginning at or near Lewistown, Fergus County, Mont., in an easterly direction to a point at or near Fairview, Mont., thence easterly, to New Rockford, N. Dak., approximately 555 miles; also a line from Fairview, Mont., in a general northerly direction, to Snowden, Mont., about 24 miles.

Development of Fixed Physical Property
The construction of the road was financed by the Great Northern. It was built under contract by A. Guthrie & Company. Grading was commenced in September, 1912. The road was placed in operation in sections by the Great Northern as completed. The 83.607 miles of road as a whole was placed in operation July 1, 1915, after the date of valuation.

Leased Railway Property
The property of the Montana Eastern was not completed as a whole until date of valuation. Certain sections of the road were placed in operation by the Great Northern as completed. On July 1, 1915, the day following date of valuation, the Great Northern took over for operation all the completed road. No formal agreement covering its use had been executed at that date.