Wikipedia:WikiProject Trains/ICC valuations/Farmers' Grain and Shipping Company
Interstate Commerce Commission, Valuation Reports, Volume 133
Farmers' Grain & Shipping Company
[edit]Location and General Description of Property
[edit]The railroad of the Farmers' Grain & Shipping Company extends from Devils Lake to Rock Lake, N. Dak., 53.206 miles. This carrier also operates 13.052 miles of road from Rock Lake to Hansboro, N. Dak., which it leases from the Brandon, Devils Lake & Southern. This is the entire railway property of the latter.
The railroad of Farmers' Grain & Shipping Company is a single track, standard gauge railroad, located entirely within the State of North Dakota. The owned mileage extends from Devils Lake to Rock Lake, 53.206 miles, with yard tracks and sidings aggregating 5.237 miles, making a total of all tracks owned of 58.443 miles. It also operates exclusively over 13.052 miles of main track and 2.332 miles of siding track between Rock Lake and Hansboro leased from the Brandon, Devils Lake & Southern Railway Company, herein called the Brandon, Devils Lake & Southern. The total mileage operated is 73.827 miles, of which 66.258 miles is main track and 7.569 miles yard tracks and sidings.
Corporate History and Development of Fixed Physical Property
[edit]The present corporation is the culmination of the efforts of a group of farmers and landowners of Ramsey County, N. D., to finance and construct a line of railway to penetrate the territory north of Devils Lake for about 20 miles, in order to provide facilities for marketing crops and to make the lands accessible by rail and thus enhance their value. In April, 1900, a fund was raised by popular subscription and the enterprise was launched under the name of the Devils Lake and Northern Railway Company, which was merely an association of individuals, and not a corporation. Its affairs were administered by a board of three trustees. The association caused to be constructed 23.486 miles of line extending from Devils Lake to Starkweather, which was placed in operation on September 15, 1902. At that time the conclusion was reached that the personal responsibilities attaching to the operation of a railroad by an association of individuals rendered it politic that the company be incorporated, and as a conclusion the carrier was incorporated.
The Farmers' Grain & Shipping Company is a North Dakota corporation with its principal office at Devils Lake. It is controlled by the Great Northern through the Brandon, Devils Lake & Southern, which owns 4,841 of the 8,000 outstanding shares of the capital stock of the Farmers' Grain & Shipping Company. The securities of the Brandon, Devils Lake & Southern are owned by the Great Northern. Articles of incorporation were filed in North Dakota on October 11, 1902, and on October 16, 1902, a charter was issued to the Farmers' Grain & Shipping Company, creating it a corporate body for a term of 20 years, pursuant to the State's civil code of 1899. The purpose of the corporation, as stated in its articles, was "to handle, ship and transport by any power or method, grain, livestock or other property; to buy or otherwise obtain such real estate as may be requisite to or connected with the due performance of such business; to acquire by purchase, lease or otherwise all articles, materials and things requisite or necessary in the transaction of such business or incident thereto."
The extension from Starkweather to Rock Lake was projected and located in November, 1904. This extension was built by A. Guthrie & Company, of St. Paul, Minn., under a general contract. The grading was commenced in May, and completed in June, 1905. Track laying began July 31, and was finished September 26, 1905. Regular commercial service was offered September 27, 1905. The 13.052 miles of leased line from Rock Lake north to Hansboro, constructed and now owned by the Brandon, Devils Lake & Southern, was also built by A. Guthrie & Company, and was completed on November 1, 1905, and on that date its operation was undertaken by the Farmers' Grain & Shipping Company, although formal agreement was not executed until July 1, 1910.
Leased Railway Property
[edit]The Farmers' Grain & Shipping Company leases from the Great Northern the use of its passenger and freight depots, roundhouse, and certain tracks leading thereto, at Devils Lake, for which it pays a rental of $642 per annum.
The Farmers' Grain & Shipping Company permits the Great Northern to run occasional trains over its main line from Devils Lake to Sweetwater Lake, about 8 miles, to harvest ice, etc., for which it charges $1 per train mile. From this source it derived $864 during the year ended June 30, 1914. It also permits the Great Northern to use its yard tracks at Devils Lake to reach certain industries accommodated thereby, from which it derived a monthly rental of $94.50, amounting to $1,134 for the year ended June 30, 1914.