Wikipedia:WikiProject Trains/ICC valuations/Montana Western Railway

Interstate Commerce Commission, Valuation Reports, Volume 133

Location and General Description of Property
The railroad of the Montana Western Railway Company, herein called the Montana Western, is a single-track, standard-gauge, steam railroad, located in the north-central part of Montana. The owned mileage extends northwesterly from Conrad, Mont., to Valier, Mont., 20.199 miles. The company also owns 2.720 miles of yard tracks and sidings. Its road thus embraces 22.919 miles of all tracks owned.

Corporate History and Development of Fixed Physical Property
The Montana Western was incorporated May 3, 1909, under the general laws of the State of Montana. Its declared purpose was to locate, construct, own, and operate a railroad and telegraph line. It was incorporated in the interests of the Conrad Land and Water Company in connection with the development of the land holdings owned by the latter at Valier, Mont. The principal office of the Montana Western is at Conrad, Mont.

The road was constructed by the forces of the water company. The rails, fastenings, ties, and other track material, were purchased from the Great Northern. Construction of the road was begun in April, 1909, and it was placed in operation on December 31, 1909.

Through foreclosure and reorganization of the controlling interests, control of the Montana Western passed in succession from the water company to Valier–Montana Land & Water Company, and from the latter to The Valier–Montana Land & Water Company, which at date of valuation owned all but five shares of the capital stock of the Montana Western.

Leased Railway Property
The Montana Western uses jointly with the Great Northern the depot and terminal facilities owned by the latter at Conrad. An agreement covering the use provides for an annual rental by the Montana Western of $2,400 plus 3 per cent per annum on the valuation of the facilities used. For the year preceding valuation date, the amount taken into account as joint-facility rent was $474.71.