Wikipedia:WikiProject Trains/ICC valuations/Canada Southern Bridge Company
Interstate Commerce Commission, Valuation Reports, Volume 28
Canada Southern Bridge Company
[edit]Introductory
[edit]The accounting records of the Canada Southern Bridge Company for the period from December 31, 1903, to date of valuation were not obtained, no transactions being found recorded during that period. Therefore, only partial information can be given from the accounts in connection with its financial dealings, corporate operations, or investments. The Canada Southern Bridge Company is a corporation of the State of Michigan and the Dominion of Canada, having its principal office at Detroit, Mich. The Canada Southern Bridge Company is controlled by the Canada Southern Railway Company, through ownership of the entire outstanding capital stock. On the other hand, the records reviewed do not indicate that this company, itself, controls any common-carrier corporation.
The property of the Canada Southern Bridge Company was operated under lease by the Canada Southern Railway Company from the date it was placed in operation until December 31, 1882. From this date it was operated by the Michigan Central, under lease, in connection with the property of the Canada Southern Railway Company until December 31, 1917. On January 1, 1918, all the common-carrier property of the Canada Southern Bridge Company, under contract with the Michigan Central, was taken over for operation by the United States Railroad Administration, which operates it on date of valuation.
Corporate History
[edit]The Canada Southern Bridge Company was incorporated September 23, 1873, under the general laws of the State of Michigan, through filing with that State an agreement dated August 20, 1873, for the purpose of consolidating the property, rights, and franchises of The Detroit River Railway Bridge and Tunnel Company and the Detroit River Railroad and Bridge Company. Pursuant to the above purpose, the Canada Southern Bridge Company acquired at its organization the property, rights, and franchises of the two companies named, and completed the construction and other objects specified in the articles of incorporation of the consolidating companies. 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.
| No. | Name | Incorporation | Succession |
|---|---|---|---|
| 1. | Canada Southern Bridge Company. | Under general laws of Michigan, Sept. 23, 1873. | |
| 2. | Detroit River Railroad and Bridge Company. | Under general laws of Michigan, Feb. 26, 1872. | Consolidated Sept. 23, 1873, with 3 to form 1. |
| 3. | The Detroit River Railway Bridge and Tunnel Company. | See 4. | Consolidated Sept. 23, 1873, with 2 to form 1. |
| 4. | Detroit River Railway Bridge Company. | Under special act of Parliament of the Dominion of Canada, June 14, 1872. | Name changed to 3 on May 23, 1873. |
Development of Fixed Physical Property
[edit]The owned mileage of the Canada Southern Bridge Company, 2.50 miles, was all acquired by construction in 1873-1874. The construction work was done by or under the supervision of the forces of the Canada Southern Railway Company, for account of the Canada Southern Bridge Company.
Leased Railway Property
[edit]The entire property of the Canada Southern Bridge Company was leased to the Canada Southern Railway Company for sole operation for an indefinite period upon completion of its railroad in 1874, under an implied lease, through ownership by that company of all the outstanding capital stock of the Canada Southern Bridge Company. On January 1, 1904, the entire property was included with that of the Canada Southern Railway Company in a lease to the Michigan Central for a period of 999 years, with other properties in consideration of an annual rental of $1,580,200, as more fully stated in the report on the Michigan Central.
Predecessor Companies
[edit]Detroit River Railroad and Bridge Company
[edit]The Detroit River Railroad and Bridge Company was incorporated February 26, 1872, under the general laws of the State of Michigan. None of the accounting records of the Detroit River Railroad and Bridge Company were obtained. Therefore, no information can be given from the accounts in connection with its financial dealings or investments. The company did not construct or operate any railroad. It was incorporated for the purpose of constructing a railroad bridge across the west channel of the Detroit River and a railroad to extend from the east end of said bridge to the main channel of the Detroit River.
On September 23, 1873, the Detroit River Railroad and Bridge Company consolidated with The Detroit River Railway Bridge and Tunnel Company to form the Canada Southern Bridge Company.
The Detroit River Railway Bridge and Tunnel Company, formerly named Detroit River Railway Bridge Company
[edit]The Detroit River Railway Bridge and Tunnel Company was incorporated June 14, 1872, by special act of Parliament of the Dominion of Canada. No accounting records of this company were obtained. Therefore, no information can be given from the accounts in connection with its financial dealings or investments. The company did not construct or operate any railroad. The Detroit River Railway Bridge and Tunnel Company was incorporated for the purpose of constructing a railroad bridge across or a tunnel under the Detroit River in Essex County toward the island of Grosse Isle, Mich.
On September 23, 1873, The Detroit River Railway Bridge and Tunnel Company consolidated with the Detroit River Railroad and Bridge Company to form the Canada Southern Bridge Company.