Wikipedia:WikiProject Trains/ICC valuations/Grand Trunk Railway
Interstate Commerce Commission, Valuation Reports, Volume 143
The Grand Trunk Railway
[edit]Location and General Description of Property
[edit]The railroad owned by The Grand Trunk Railway Company of Canada, herein called the carrier, is situated principally within the Dominion of Canada. The road mileage owned by it that is situated within the United States consists of 0.164 mile of double-track railroad, extending from the Canadian boundary to Suspension Bridge, N. Y., and 15.585 miles of single-track railroad, extending from Island Pond, Vt., to the Canadian boundary. The carrier operates under lease in the United States the properties of 10 domestic corporations, as follows:
Atlantic and St. Lawrence Railroad Company, herein called the Atlantic and St. Lawrence, extending from Island Pond, Vt., southeasterly across the States of Vermont, New Hampshire, and Maine to its tidewater terminus at Portland, Me., 149.784 miles.
The United States and Canada Railroad Company, herein called the United States and Canada Railroad, situated entirely within the State of New York, extending from the international boundary to Massena Springs, 22.177 miles.
Champlain and St. Lawrence Railroad Company, herein called the Champlain and St. Lawrence, situated entirely within the State of New York, extending from the international boundary to Rouses Point, 1.251 miles.
Vermont and Province Line Railroad Company, herein called the Vermont and Province Line, situated entirely within the State of Vermont, extending from the international boundary to Alburgh Junction, 3.088 miles.
Norway Branch Railroad Company, herein called the Norway Branch Railroad, situated entirely within the State of Maine, extending from Norway to South Paris, 1.432 miles.
Lewiston and Auburn Railroad Company, herein called the Lewiston and Auburn, situated entirely within the State of Maine, extending from Lewiston Junction to Lewiston, 5.426 miles.
The Michigan Air Line Railway, herein called the Michigan Air Line, situated entirely within the State of Michigan, extending from Richmond to Jackson, 105.920 miles.
Bay City Terminal Railway Company, herein called the Bay City Terminal, extending from West Bay City to Bay City, Mich., 1.172 miles.
The Chicago, Detroit and Canada Grand Trunk Junction Railroad Company, herein called the Grand Trunk Junction Railroad, situated entirely within the State of Michigan, extending from Fort Gratiot to West Detroit, 60.835 miles.
Cincinnati, Saginaw and Mackinaw Rail Road Company, herein called the Cincinnati, Saginaw and Mackinaw, situated entirely within the State of Michigan, extending from Durand to a crossing with the line of Detroit & Mackinac Railway Company near Bay City, 52.932 miles.
The carrier wholly owns and uses within the United States 1.748 miles of all tracks, wholly uses but does not own 654.130 miles of all tracks, and jointly uses but does not own 1.009 miles of all tracks, which are classified in the trackage table in Appendix 1.
The Carrier
[edit]The carrier is a corporation of the Dominion of Canada, incorporated by act of Parliament November 10, 1852, having its principal office in Montreal, Canada. On June 30, 1917, it operated as lessee, in connection with its railroad property in the Dominion of Canada, the property of 10 domestic corporations located in the United States. The corporations comprising this group, with their respective termini and the mileage owned by each, are as follows:
| Mileage | |
|---|---|
| Atlantic and St. Lawrence Railroad Company, Portland, Me., to Canadian boundary, Norton Mills, Vt. | 149.784 |
| Bay City Terminal, in the city of Bay City, Mich. | 1.172 |
| Champlain and St. Lawrence, Canadian boundary to Rouses Point, N. Y. | 1.251 |
| Grand Trunk Junction Railroad, West Detroit to Fort Gratiot, Mich. | 60.835 |
| Cincinnati, Saginaw and Mackinaw, Durand to Bay City and Os-at-ka Beach, Mich. | 62.932 |
| Lewiston and Auburn, Lewiston Junction to Lewiston, Me. | 5.426 |
| Michigan Air Line, Richmond to Jackson, Mich. | 105.920 |
| Norway Branch Railroad, South Paris to Norway, Me. | 1.432 |
| United States and Canada Railroad, Canadian boundary to Massena Springs, N. Y. | 22.177 |
| Vermont and Province Line, Alburgh Junction, Vt., to Canadian boundary. | 3.088 |
| Total leased. | 404.017 |
| Owned and used by the carrier: | |
| Island Pond, Vt., to Canadian boundary. | 15.585 |
| Canadian boundary to Suspension Bridge, N. Y. | 0.164 |
| Total. | 15.749 |
| Total leased and owned. | 419.766 |
This mileage divided by States, follows:
| Mileage | |
|---|---|
| In Maine. | 89.498 |
| In Michigan. | 220.859 |
| In New Hampshire. | 52.090 |
| In New York. | 23.592 |
| In Vermont. | 33.727 |
| Total. | 419.766 |
The carrier controls, further, through ownership of the entire outstanding capital stock of the following six domestic corporations, whose several common-carrier properties it separately operates, except that the Grand Rapids Terminal is a lessor of the Detroit, Grand Haven and Milwaukee:
| Mileage | |
|---|---|
| Detroit, Grand Haven and Milwaukee | 188.253 |
| Grand Rapids Terminal | 1.503 |
| Grand Trunk Western | 329.455 |
| International Bridge Company | 0.616 |
| St. Clair Tunnel Company | 1.724 |
| Toledo, Saginaw and Muskegon | 95.951 |
| Total. | 617.502 |
The carrier also controls indirectly through the Grand Trunk Western, through ownership, by the latter of the entire outstanding capital stock of three domestic corporations, whose common-carrier properties are separately operated, except that the Chicago and Kalamazoo Terminal is a lessor of the Grand Trunk Western:
| Mileage | |
|---|---|
| Chicago and Kalamazoo Terminal | 2.924 |
| Detroit and Huron | 18.579 |
| Pontiac, Oxford and Northern | 99.894 |
| Total. | 121.397 |
This mileage divided by States, follows:
| Mileage | |
|---|---|
| In Illinois. | 25.792 |
| In Indiana. | 80.059 |
| In Michigan. | 631.832 |
| In New York. | 0.616 |
| Total. | 738.899 |
In addition, the carrier controls indirectly through the Detroit, Grand Haven and Milwaukee, through ownership by the latter of the entire outstanding capital stock of the Milwaukee Car Ferry, whose water-carrier property is separately operated in connection with the transportation business of that company.
The interest of the carrier in several of the leased properties amounts to virtual ownership. Its percentage of control of each of the 10 lessor corporations as reported to us, follows:
| Percentage of control | |
|---|---|
| Atlantic and St. Lawrence. | ...... |
| Bay City Terminal. | 100 |
| Champlain and St. Lawrence. | 100 |
| Grand Trunk Junction Railroad. | 47.72 |
| Cincinnati, Saginaw and Mackinaw. | 1.85 |
| Lewiston and Auburn. | ...... |
| Michigan Air Line. | 100 |
| Norway Branch Railroad. | ...... |
| United States and Canada Railroad. | 100 |
| Vermont and Province Line. | 100 |
The carrier owns and uses 15.585 miles of road extending from Island Pond, Vt., to the Canadian boundary, together with 3.24 miles of yard tracks and sidings, that had been constructed by the St. Lawrence and Atlantic Rail Road Company, a predecessor of the carrier. It also owns and uses 0.164 mile of first main track and 0.164 mile of second main track extending from the Canadian boundary to Suspension Bridge, N. Y., also, 0.130 mile of yard tracks and sidings. At its River Street yard, at Buffalo, N. Y., it owns and uses 1.290 miles of yard tracks and sidings. The outlay by the carrier for the mileage owned and used that is located in the United States has not been ascertained from the records obtained.
In addition, the carrier uses two grain elevators located at Portland, Me., in connection with its operation of the property of the Atlantic and St. Lawrence. Elevator No. 1 is owned by the Portland Elevator Company and Elevator No. 2 is owned by the New England Elevator Company. Both of these companies are controlled by the carrier.
As indicated in the accounting reports on the lessor companies having property in the States of Maine, New Hampshire, New York, and Vermont, there is about 196 miles of telegraph pole line located on common-carrier property, which, with the exception of certain wires and equipment owned by the carrier, is all owned by The Great North Western Telegraph Company of Canada. The telegraph property is jointly used by those two companies under several agreements dated in 1853 and subsequent thereto.
For that portion of the carrier's system located in the State of Michigan, the telegraph pole lines are operated as a part of the system of the Western Union Telegraph Company, under the several agreements referred to in the reports on the following lessor companies of the carrier: [table]
Leased Railway Property
[edit]The carrier uses on date of valuation property owned by other companies and other companies use property owned by the carrier to the extent indicated below. A description of the property and the terms of use and the rentals accrued and charged or credited to income for the year ending on date of valuation are as follows:
| Rentals | |
|---|---|
| Solely used, but not owned, leased from— | |
| Atlantic and St. Lawrence, entire property; term 999 years from July 1, 1853; stipulated payment 6 per cent per annum, dividends on capital stock, and interest on funded debt of lessor, taxes, and maintenance. | $536,878.00 |
| Bay City Terminal, entire property; implied lease for term of 99 years from effective date of the lease of the Cincinnati, Saginaw and Mackinaw's property; no rental accrued or paid. | ...... |
| Champlain and St. Lawrence, entire property; operated under an implied lease through stock control; no rental is accrued or paid. | ...... |
| Grand Trunk Junction Railroad, entire property; term 999 years from July 1, 1859; stipulated payment, interest on funded debt and 4 per cent on capital stock of lessor, taxes, and maintenance. | 88,546.56 |
| Cincinnati, Saginaw and Mackinaw, entire property; term 99 years from Jan. 1, 1901; stipulated payment of $43,225 as annual rental, and all taxes and maintenance. | 43,225.00 |
| Lewiston and Auburn, entire property; term 99 years from Mar. 10, 1874; stipulated payment $18,000 per annum, or 6 per cent on the capital stock of the lessor, taxes, and maintenance. | 18,000.00 |
| Michigan Air Line, entire property; term 20 years from Jan. 1, 1881, expired; the property is still operated under its provisions; stipulated payment of interest on the funded debt of the lessor, taxes, and maintenance; no rental has been recorded as accrued or paid since 1912. | ...... |
| Norway Branch Railroad, entire property; term 99 years from Jan. 1, 1880; stipulated payment of $1 per annum, taxes and maintenance. | 1.00 |
| United States and Canada Railroad, entire property; term 21 years from Jan. 1, 1889; expired and not formally renewed; the property is still operated under the terms thereof; stipulated payment, interest on bonds of the lessor, taxes, and maintenance. | 11,250.00 |
| Vermont and Province Line, entire property; operated under implied lease, through stock control; no rental accrued or paid. | ...... |
| Portland Elevator Company, entire property at Portland, Me., consisting of grain elevator, powerhouse, and storehouse; term 956 years from Jan. 1, 1897; stipulated payment, interest on bonds, taxes, maintenance of property, and investment organization; amount of rental accrued not obtained. | ...... |
| New England Elevator Company, entire property at Portland, Me., consisting of grain elevator, powerhouse, and storehouse; term 950 years from Jan. 1, 1902; stipulated payment interest on bonds, taxes, maintenance of property, and investment organization; amount of rental accrued not obtained. | ...... |
| Jointly used, but not owned, owned by The Great North Western Telegraph Company of Canada under several agreements dated in 1853, between the carrier and this telegraph company, the telegraph line along the railroad between Island Pond, Vt., and the Canadian boundary is jointly used by the two companies. With the exception of certain wires and equipment owned by the carrier, the telegraph pole line is owned by the telegraph company. With respect to the telegraph pole lines located in other States, the several agreements are referred to in the reports on the respective lessors of the carrier, some of which deal with such property wholly or jointly owned or jointly used with the Western Union Telegraph Company. The terms of use and termination of the 1853 agreements bearing on the pole lines along the road mileage owned and operated by the carrier were not obtained. | ...... |
In addition, the carrier uses certain units of equipment of other companies leased or separately operated by it, and certain of its separately operated companies use equipment of the carrier, as herein before stated in detail. The agreements or terms governing the use of such equipment were not obtained.
Trackage rights In addition to the property leased and operated, the Grand Trunk is granted the use of the property of other companies and grants the use of its property in the United States to other companies as follows:
| Location | Mileage | |
|---|---|---|
| Grantor | ||
| Central Vermont Railway Company. | East Alburgh to Swanton, Vt. | 6.66 |
| The Delaware and Hudson Company. | International boundary to Mooers Junction, N. Y. | 2.53 |
| Do. | At Rouses Point, N. Y. | .19 |
| The Delaware, Lackawanna & Western Railroad Company. | At Black Rock, N. Y. | .32 |
| The New York Central Railroad Company. | At Buffalo, N. Y. | 3.84 |
| Do. | At Suspension Bridge, N. Y. | .15 |
| Total of trackage rights acquired. | 13.69 | |
| Grantee | ||
| The Delaware and Hudson Company. | International boundary to Rouses Point, N. Y. | .99 |
| Erie Railroad Company. | International boundary to Suspension Bridge, N. Y. | .11 |
| Lehigh Valley Railroad Company. | International boundary and Suspension Bridge, N. Y. | .12 |
| The Pennsylvania Railroad Company. | International boundary to Suspension Bridge, N. Y. | .54 |
| Wabash Railway Company. | do. | .77 |
| Total of trackage rights granted. | 2.53 | |