Wikipedia:WikiProject Trains/ICC valuations/Lake Terminal Railroad

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The railroad of The Lake Terminal Railroad Company, herein called the carrier, is a single-track, standard-gauge, steam-operated, switching railroad, located at Lorain, Ohio. It consists of 12.937 miles of main track and 28.524 miles of yard tracks and sidings.

CORPORATE HISTORY

The carrier was incorporated September 14, 1895, under the general laws of Ohio, for the purpose of acquiring and operating a terminal railroad with extensions and branches in Lorain, Ohio. The date of organization was September 25, 1895.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The road owned by the carrier, consisting of 12.937 miles of main tracks and 28.524 miles of other tracks, was acquired by purchase and construction. The details of the acquisitions, as reported by the company, are given below.

Acquired by purchase from—

The Johnson Company, 1895 and 1896 11.66

The New York, Chicago and St. Louis Railroad Company, June 27, 1907. This purchase consisted of a bridge across the Black River, with tracks thereon 0.40

The National Tube Company, 1907, 1909, and 1918 26.96

39.02

(No details regarding the construction of this mileage have been obtained.)

Constructed by the carrier, 1910 to 1918, inclusive 10.93

Total acquired 49.95 Less, sales to The National Tube Company in 1918, and other sales and retirements for which details have not been obtained 8.61

Total recorded mileage 41.34

Difference between total recorded mileage and mileage inventoried as of date of valuation 0.121

Recorded owned mileage as of date of valuation 41.461

HISTORY OF CORPORATE FINANCING