Wikipedia:WikiProject Trains/ICC valuations/Grand Trunk Milwaukee Car Ferry Company
Interstate Commerce Commission, Valuation Reports, Volume 143
Grand Trunk Milwaukee Car Ferry Company
[edit]Location and General Description of Property
[edit]The Grand Trunk Milwaukee Car Ferry Company, herein called the Milwaukee Car Ferry, owns and operates a car ferryage and general transportation business on Lake Michigan between Milwaukee, Wis., and Grand Haven, Mich. At Milwaukee it owns a double-track ferry slip, together with 1.544 miles of yard tracks and sidings, situated on leased property. At Grand Haven it uses the dock of the Detroit, Grand Haven and Milwaukee.
Introductory
[edit]The Milwaukee Car Ferry is a corporation of the State of Wisconsin, having its principal office at Milwaukee, Wis. It is controlled by the Detroit, Grand Haven and Milwaukee, through ownership of the entire outstanding capital stock. On the other hand, the records reviewed do not indicate that this company controls any common-carrier corporation. The property has been operated by the company's own organization during its entire life.
Corporate History
[edit]The Milwaukee Car Ferry was incorporated November 9, 1905, under the general laws of the State of Wisconsin, for the purpose of carrying on a car-ferryage and transportation business upon the waters of Lake Michigan by boats. It has one predecessor, the Grand Trunk Car Ferry Line, which had been established under agreement dated May 30, 1902, between the Detroit, Grand Haven and Milwaukee and Edward G. Crosby, of Milwaukee, Wis. Its property was sold at foreclosure on November 7, 1905, and during the same month was conveyed to the Milwaukee Car Ferry. The date of organization of the latter was November 15, 1905.
Development of Fixed Physical Property
[edit]The Milwaukee Car Ferry owns on date of valuation two steel car-ferry and passenger steamers, named the Grand Haven and the Milwaukee, the former acquired by purchase at foreclosure sale of the property of the Grand Trunk Car Ferry Line, and the latter by subsequent purchase. The company lands its cargoes at the docks of the Detroit, Grand Haven and Milwaukee at Grand Haven, Mich., and at Milwaukee, Wis., maintains its own ferry slip on leased property.
Steamer Grand Haven was acquired from the Grand Trunk Car Ferry Line, through the Detroit, Grand Haven and Milwaukee at trustee's sale on November 7, 1905. It was built in 1903, of 1,678 net tonnage, 315 feet in length, beam 54 feet, capacity 30 loaded cars and sleeping accommodations for 90 persons, average speed 14 miles per hour.
Steamer Milwaukee was acquired from the Manistique and Northern Railway Company in October, 1908. It was built in 1903, of 1,755 net tonnage, 350 feet, 2 inches in length, beam 56 feet, capacity 30 loaded cars and sleeping accommodations for 90 persons, average speed 13 miles per hour.
Leased Railway Property
[edit]The Milwaukee Car Ferry delivers its cargoes at the docks of the Detroit, Grand Haven and Milwaukee at Grand Haven, Mich., and maintains its own ferry slip on leased property at Milwaukee, Wis. The rentals paid for the use of this property for the year ending on date of valuation, if any, are not indicated in the records reviewed.
Predecessor Company
[edit]Grand Trunk Car Ferry Line
[edit]No accounting records of this company were obtained. Therefore, no information can be given from its accounts regarding financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from the records of the Milwaukee Car Ferry. Under agreement dated May 30, 1902, between the Detroit, Grand Haven and Milwaukee and Edward G. Crosby, of Milwaukee, Wis., a car-ferry line was established, which was called the Grand Trunk Car Ferry Line. This company was controlled on date of sale by the Detroit, Grand Haven and Milwaukee, through ownership of a majority of the outstanding capital stock. On the other hand, the records reviewed do not indicate that this company controlled any common-carrier corporation.
The property of this company on date of sale consisted of one steamer, which had been acquired by purchase. No outlay by this company for property can be stated.