Wikipedia:WikiProject Trains/ICC valuations/Northwestern Terminal Railway

Interstate Commerce Commission, Valuation Reports, Volume 135

Location and General Description of Property
The railroad of The Northwestern Terminal Railway Company, herein called the carrier, is a single-track, standard-gauge, steam railroad, located in Colorado. The main line extends from 15th Street, Denver, to Utah Junction, 3.180 miles. The company also owns 7.426 miles of yard tracks and sidings. Its owned property thus embraces 10.606 miles of all tracks, together with terminal facilities at Denver. The 3.180 miles of main line, 2.496 miles of the yard tracks and sidings, and the terminal facilities are leased to and operated by The Denver and Salt Lake Railroad Company.

The remaining 4.930 miles of yard tracks and sidings, together with 0.601 mile of additional sidings leased from M. S. Radetsky, are used by the carrier and comprise a belt-line railway providing switching service. In connection with this operation, the carrier has trackage rights over short stretches of tracks owned by other parties. The carrier having no operating organization, this belt-line property is operated for its account by the Denver and Salt Lake, under an agency arrangement. The mileage owned or used is classified in the trackage table in Appendix 1.

Introductory
The carrier is a corporation of the State of Colorado, having its principal office at Denver, Colo. It is controlled by the Denver and Salt Lake, through ownership of the entire outstanding capital stock. On the other hand, the records do not indicate that the carrier controls any common-carrier corporation. The property of the carrier was operated by The Denver, Northwestern and Pacific Railway Company or receivers from July 1, 1909, to April 30, 1913. From the latter date to June 30, 1918, it was operated by the Denver and Salt Lake or receivers. On July 1, 1918, its common-carrier property was taken over by the United States Railroad Administration, which still operates it on date of valuation. That portion of operation which pertains to commercial switching is conducted for account of the carrier. The remainder of the property is operated by the Denver and Salt Lake for its own account.

Corporate History
The carrier was incorporated August 1, 1904, under the general laws of the State of Colorado, for the purpose of constructing and operating a railroad in and around the city and county of Denver, Colo. The date of organization was August 1, 1904.

Development of Fixed Physical Property
The owned-road mileage, extending from Denver to Utah Junction, 3.18 miles, was constructed by The Colorado-Utah Construction Company, affiliated contractors, during 1906 and 1907. The property was not turned over to the carrier until as of July 1, 1909. It was not ascertained whether or not the construction of the road was performed under formal contract. The belt-line railway used for switching purposes, consisting of yard tracks and sidings, was constructed in 1913 and 1914.

Leased Railway Property
The carrier prior to Federal control, used property owned by others and another company used property owned by it, as indicated in the statement below. These arrangements have been continued by the United States Railroad Administration.

Solely owned but not used, leased to the Denver and Salt Lake, main line from Utah Junction to the Denver station, including terminal facilities; informal agreement; the lessee pays the taxes and accrues as rental an amount equal to the interest on the lessor's funded debt (except $50,000 par value held by the lessee).

Solely used but not owned, leased from M. S. Radetsky, siding, 0.601 mile, annual rental.

Jointly used but not owned, owned by various parties, short stretches of yard tracks and sidings, annual rentals.